Common use of Particular Loans to be Prepaid Clause in Contracts

Particular Loans to be Prepaid. With respect to each repayment or prepayment of Loans made or required by this Section, the Borrower shall designate the Types of Loans that are to be repaid or prepaid and the specific Borrowing(s) pursuant to which such repayment or prepayment is to be made; provided, however, that (i) the Borrower shall first so designate all Loans that are Base Rate Loans and Eurodollar Loans with Interest Periods ending on the date of repayment or prepayment prior to designating any other Eurodollar Loans for repayment or prepayment, and (ii) if the outstanding principal amount of Eurodollar Loans made pursuant to a Borrowing is reduced below the applicable Minimum Borrowing Amount as a result of any such repayment or prepayment, then all the Loans outstanding pursuant to such Borrowing shall, in the case of Eurodollar Loans, be Converted into Base Rate Loans. In the absence of a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, use reasonable efforts to make such designation in such a way so as to minimize breakage costs owing under Article III; provided, that the failure to minimize breakage costs shall not result in any liability to the Administrative Agent or any Lender. Notwithstanding the terms of this clause (e) to the contrary, so long as (i) no Default or Event of Default exists and (ii) the amount of any repayments required under Section 2.13(c) has been transferred to the Administrative Agent to be held by it as Collateral pursuant to the terms of the Security Agreement, at the election of the Borrower, if there are not sufficient Base Rate Loans outstanding to effect any repayment required under Section 2.13(c), such repayment may be deferred until the end of the Interest Period of any Eurodollar Loan being prepaid, in respect of the amount of such repayment which would otherwise be required to be used to repay such Eurodollar Loan (after giving effect to any repayment of outstanding Base Rate Loans). To the extent any application of a prepayment under Section 2.13 would result in interest rate swap termination costs, such mandatory prepayment shall be applied to the remaining principal installments to minimize such termination costs, if possible.

Particular Loans to be Prepaid. With respect to each repayment or prepayment of Loans made or required by this Section, the Borrower shall designate the Types of Loans that are amounts to be repaid or prepaid and the specific Borrowing(s) applied pursuant to which such repayment this Section 2.13 shall be applied, as applicable, first to repay or prepayment is to be made; provided, however, that (i) the Borrower shall first so designate all Loans that are prepay outstanding Base Rate Loans and Eurodollar Loans with Interest Periods ending on the date of repayment second to repay or prepayment prior to designating any other Eurodollar Loans for repayment or prepayment, and (ii) if the outstanding principal amount of Eurodollar Loans made pursuant to a Borrowing is reduced below the applicable Minimum Borrowing Amount as a result of any such repayment or prepayment, then all the Loans outstanding pursuant to such Borrowing shall, in the case of prepay Eurodollar Loans, be Converted into Base Rate Loans. In the absence of a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, use reasonable efforts to make such designation in such a way so as to minimize breakage costs owing under Article III; provided, that the failure to minimize breakage costs shall not result in any liability to the Administrative Agent or any Lender. Notwithstanding the terms of this clause (e) to the contraryforegoing, so long as (i) no Default or Event of Default exists and (ii) exists, if the amount of any repayments required prepayment of Loans under this Section 2.13(c) has been transferred 2.13 shall be in excess of the amount of the Base Rate Loans then outstanding (an “Excess Amount”), only the portion of the amount of such prepayment as is equal to the Administrative Agent to amount of such outstanding Base Rate Loans shall be held by it as Collateral pursuant to the terms of the Security Agreementimmediately prepaid and, at the election of the BorrowerBorrowers, if there are not sufficient Base Rate Loans outstanding to effect any repayment required under Section 2.13(c)the Excess Amount shall be either (i) deposited in a cash collateral deposit account over which the Administrative Agent shall have sole dominion and control, such repayment may be deferred until the end and which shall constitute part of the Collateral under the Security Documents, and applied to the prepayment of Eurodollar Loans on the last day of the then next-expiring Interest Period of any for Eurodollar Loan being prepaidLoans (provided, that interest in respect of the amount of such repayment which would otherwise be required Loans to be used repaid using such Excess Amount shall continue to accrue thereon at the rate provided hereunder for the Loans which such Excess Amount is intended to repay until such Eurodollar Loan Excess Amount shall have been used in full to repay the Loans or (after giving effect to ii) prepaid immediately, together with any repayment of outstanding Base Rate Loans). To the extent any application of a prepayment under Section 2.13 would result in interest rate swap termination costs, such mandatory prepayment shall be applied amounts owing to the remaining principal installments to minimize such termination costs, if possibleLenders in respect thereof under Article III.

Particular Loans to be Prepaid. With respect to each repayment or prepayment of Loans made or required by this Section, the Borrower shall designate the Types of Loans that are to be repaid or prepaid and the specific Borrowing(s) pursuant to which such repayment or prepayment is to be made; provided, however, that (i) the Borrower shall first so designate all Loans that are Base Rate Loans and Eurodollar SOFR Loans with Interest Periods ending on the date of repayment or prepayment prior to designating any other Eurodollar SOFR Loans for repayment or prepayment, and (ii) if the outstanding principal amount of Eurodollar SOFR Loans made pursuant to a Borrowing is reduced below the applicable Minimum Borrowing Amount as a result of any such repayment or prepayment, then all the Loans outstanding pursuant to such Borrowing shall, in the case of Eurodollar SOFR Loans, be Converted into Base Rate Loans. In the absence of a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, use reasonable efforts to make such designation in such its sole discretion with a way so as view, but no obligation, to minimize breakage costs owing under Article III; provided, that the failure to minimize breakage costs shall not result in any liability to the Administrative Agent or any Lender. Notwithstanding the terms of this clause (e) to the contrary, so long as (i) no Default or Event of Default exists and (ii) the amount of any repayments required under Section 2.13(c) has been transferred to the Administrative Agent to be held by it as Collateral pursuant to the terms of the Security Agreement, at the election of the Borrower, if there are not sufficient Base Rate Loans outstanding to effect any repayment required under Section 2.13(c), such repayment may be deferred until the end of the Interest Period of any Eurodollar Loan being prepaid, in respect of the amount of such repayment which would otherwise be required to be used to repay such Eurodollar Loan (after giving effect to any repayment of outstanding Base Rate Loans). To the extent any application of a prepayment required to be made pursuant to Section 2.13(c)(iv), (v), (vi), or (vii) would cause the Borrower to make any payments under Section 2.13 would result 3.02, the Borrower shall have the option of either making the prepayment and the payment required under Section 3.02, or immediately depositing such amounts in interest rate swap termination costsa collateral deposit account over which the Administrative Agent shall have sole dominion and control, such mandatory prepayment and which shall constitute part of the Collateral under the Security Documents and shall be applied to against the remaining principal installments to minimize such termination costsSOFR Loans as set forth above when no payments would be required under Section 3.02; provided however that notwithstanding the foregoing, the Administrative Agent may apply any prepayment as set forth in the prior sentence if possiblean Event of Default exists.

Particular Loans to be Prepaid. With respect to each repayment or prepayment of Loans made or required by this Section, the Borrower shall designate the Types of Loans that are to be repaid or prepaid and the specific Borrowing(s) pursuant to which such repayment or prepayment is to be made; provided, however, that (i) the Borrower shall first so designate all Loans that are Base Rate Loans and Eurodollar Loans with Interest Periods ending on the date of repayment or prepayment prior to designating any other Eurodollar Loans for repayment or prepayment, and (ii) if the outstanding principal amount of Eurodollar Loans made pursuant to a Borrowing is reduced below the applicable Minimum Borrowing Amount as a result of any such repayment or prepayment, then all the Loans outstanding pursuant to such Borrowing shall, in the case of Eurodollar Loans, be Converted into Base Rate Loans. In the absence of a designation by the Borrower as described in the preceding sentence, the Administrative Agent shall, subject to the above, use reasonable efforts to make such designation in such its sole discretion with a way so as view, but no obligation, to minimize breakage costs owing under Article III; provided, that the failure to minimize breakage costs shall not result in any liability to the Administrative Agent or any Lender. Notwithstanding the terms of this clause (e) to the contrary, so long as (i) no Default or Event of Default exists and (ii) the amount of any repayments required under Section 2.13(c) has been transferred to the Administrative Agent to be held by it as Collateral pursuant to the terms of the Security Agreement, at the election of the Borrower, if there are not sufficient Base Rate Loans outstanding to effect any repayment required under Section 2.13(c), such repayment may be deferred until the end of the Interest Period of any Eurodollar Loan being prepaid, in respect of the amount of such repayment which would otherwise be required to be used to repay such Eurodollar Loan (after giving effect to any repayment of outstanding Base Rate Loans). To the extent any application of a prepayment required to be made pursuant to Section 2.13(c)(iv), (v), (vi), or (vii) would cause the Borrower to make any payments under Section 2.13 would result 3.02, the Borrower shall have the option of either making the prepayment and the payment required under Section 3.02, or immediately depositing such amounts in interest rate swap termination costsa collateral deposit account over which the Administrative Agent shall have sole dominion and control, such mandatory prepayment and which shall constitute part of the Collateral under the Security Documents and shall be applied to against the remaining principal installments to minimize such termination costsEurodollar Loans as set forth above when no payments would be required under Section 3.02; provided however that notwithstanding the foregoing, the Administrative Agent may apply any prepayment as set forth in the prior sentence if possiblean Event of Default exists.