Other Mandatory Principal Payments Sample Clauses

Other Mandatory Principal Payments. In addition to the principal payments provided for above in Section 2.2.1, Borrower shall, unless Required Lenders agree otherwise in their sole discretion, make payments to Agent for the account of the Lenders in an amount equal to 100% of the net cash proceeds (i.e. gross cash proceeds less ordinary and reasonable closing costs) of (X) any insurance policy following a casualty loss or the sale of any asset (to the extent, in each case, not applied to replace the related asset, with the consent of Required Lenders [which consent may be given or withheld in their sole discretion]) outside the ordinary course of business, including but not limited to the sale of accounts receivable less the Recapture Amount, (Y) the issuance of other Indebtedness (without implying the Lenders' consent to any such Indebtedness except as specifically provided herein), and (Z) the issuance of any equity securities by Borrower or any Subsidiary of Borrower (whether public or private, registered or unregistered). Any mandatory prepayment under this Section 2.2.2 shall be applied first to the Term Loan, and second to the Revolving Credit Facility, in each instance in the inverse order of maturity.
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Other Mandatory Principal Payments. In addition to the principal payments provided for above in Sections 2.2.1 and 2.2.2, Borrower shall make a payment to Agent for the account of each Lender in an amount equal to (i) the amount by which (A) the balance of the Revolving Credit Facility at any time outstanding exceeds (B) the Borrowing Base, and (ii) 100% of the net cash proceeds (i.e. gross cash proceeds less ordinary and reasonable closing costs) of (V) the sale of any material asset, including but not limited to the sale of accounts receivable or renewals, (W) the issuance of other Indebtedness other than Permitted Indebtedness (without implying the Lenders' consent to any such Indebtedness except as specifically provided herein), (X) the issuance of any equity securities by Borrower, Parent or any Subsidiary of Borrower or Parent (whether public or private, registered or unregistered), (Y) the issuance of Subordinated Debt Securities and (Z) the Proposed Securitization. Except as set forth below, any mandatory prepayment under this Section 2.2.3 shall be applied first to the Term Loan, second to any then existing portion of the Revolving Credit Facility which is the subject of a Term Conversion, and third to the remainder of the Revolving Credit Facility, in each instance in the inverse order of maturity. Any mandatory prepayment under subsection (ii)(Y) in respect of the Proposed Issue shall be applied first to the Revolving Credit Facility, second to any then existing portion of the Revolving Credit Facility which is the subject of a Term Conversion, and third to the Term Loan, in each instance in the inverse order of maturity. The Commitments under the Revolving Credit Facility shall be increased pro-rata by the amount of proceeds of the Proposed Securitization paid under subsection (ii)(Z) and applied to the Term Loan (the "Securitization Proceeds Term Loan Repayment Amount"). Upon request of any Lender, Borrower shall execute new Notes reflecting the aforementioned increase in the Commitments.
Sample 1
Other Mandatory Principal Payments. In addition to the principal payments provided for above in Sections 2.2.1 and 2.2.2, Borrower shall make a payment to Agent for the account of each Lender in an amount equal to (i) the amount by which (A) the balance of the Revolving Credit Facility at any time outstanding exceeds (B) the Borrowing Base, and (ii) 100% of the net cash proceeds (i.e. gross cash proceeds less ordinary and reasonable closing costs) of (X) the sale of any material asset, including but not limited to the sale of accounts receivable or renewals, but excluding the Cessna Citation V, (Y) the issuance of other Indebtedness other than Permitted Indebtedness (without implying the Lenders' consent to any such Indebtedness except as specifically provided herein), and (Z) the issuance of any equity securities by Borrower, Parent or any Subsidiary of Borrower or Parent (whether public or private, registered or unregistered). In addition, Borrower shall pay to Agent for the account of each Lender an annual payment (on March 31 of each year) of principal in an amount equal to sixty-five percent (65%) of
Sample 1
Other Mandatory Principal Payments. In addition to the principal payments provided for above in Sections 2.2.1 and 2.2.2, Borrower shall pay to Agent for the account of each Lender 100% of the net cash proceeds (i.e. gross cash proceeds less ordinary and reasonable closing costs) of (i) the sale of accounts receivable or renewals, and (ii) the issuance of other Indebtedness other than Permitted Indebtedness (without implying the Lenders' consent to any such Indebtedness except as specifically provided herein). In addition, Borrower shall pay to Agent for the account of each Lender an annual payment (on March 31 of each year) of principal in an amount equal to sixty-five percent (65%) of
Sample 1

Related to Other Mandatory Principal Payments

  • Mandatory Principal Payments If, on any day, the Total Outstandings exceed the Maximum Loan Amount, then the Borrower shall make a principal payment to Administrative Agent in the amount of such excess, in immediately available funds within ten (10) Business Days of demand from the Administrative Agent (a “Mandatory Principal Payment”); with such payment being applied to the principal balances due hereunder is such fashion as the Borrower may designate; provided, however, that if during such ten (10) Business Day period, the Borrower delivers to the Administrative Agent Funding Evidence, such ten (10) Business Day period shall be extended for such additional time as the Administrative Agent determines, in its reasonable discretion, to be required by the Borrower to make the Mandatory Principal Payment but in no event shall such period exceed a maximum of sixty (60) days from the date that the Mandatory Principal Payment would otherwise be due hereunder.

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Optional Principal Payments 11 2.8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Mandatory Payments The Loans shall be subject to mandatory repayment or prepayment (in the case of any partial prepayment conforming to the requirements as to the amounts of partial prepayments set forth in Section 2.13(a) above), and the LC Outstandings shall be subject to cash collateralization requirements, in accordance with the following provisions:

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