Common use of Prepayment from Key Man Insurance Clause in Contracts

Prepayment from Key Man Insurance. In the event that a Borrower or Agent receives proceeds from payment of the key man life insurance maintained pursuant to Section 6.3, Borrowers shall prepay or Agent shall apply such amount as a prepayment of the Obligations then outstanding in such manner as Agent shall direct and require in its sole and absolute discretion. Prepayments of the Loans which Agent requires to be made under this Section 2.6(i) shall be applied to the Loans in accordance with Section 2.6(k).

Prepayment from Key Man Insurance. In the event that a Borrower or Agent receives proceeds from payment of the key man life insurance maintained pursuant to Section 6.3, Borrowers shall prepay or Agent shall apply such amount as a prepayment of the Loans in an amount equal to the lesser of such insurance proceeds or the amount of the Obligations then outstanding in such manner as Agent shall direct and require in its sole and absolute discretionoutstanding. Prepayments of the Loans which Agent requires to be made under this Section 2.6(i2.7(d) shall be applied to the Loans in accordance with Section 2.6(k2.8(b).

Prepayment from Key Man Insurance. In the event that a Borrower or Agent any of its subsidiaries receives proceeds from payment of the key man life insurance maintained pursuant to Section 6.3, Borrowers Borrower shall prepay the Loans in an amount equal to the lesser of such insurance proceeds or Agent shall apply such the amount as a prepayment of the Obligations then outstanding in such manner as Agent shall direct and require in its sole and absolute discretion. Prepayments of the Loans which Agent requires to be made under this Section 2.6(i) shall be applied to the Loans in accordance with Section 2.6(k)outstanding.

Prepayment from Key Man Insurance. In the event that a Borrower or Agent receives proceeds from payment of the key man life insurance maintained pursuant to Section 6.3, Borrowers shall prepay or Agent shall apply such amount as a prepayment of the Loans in an amount equal to the lesser of such insurance proceeds or the amount of the Obligations then outstanding in such manner as Agent shall direct and require in its sole and absolute discretionoutstanding. Prepayments of the Loans which Agent requires to be made under this Section 2.6(i2.6(e) shall be applied to the Loans in accordance with Section 2.6(k2.6(g).

Prepayment from Key Man Insurance. In the event that a Holdings or any other Borrower or Agent receives proceeds from payment of the key man life insurance maintained pursuant to Section 6.3, Borrowers shall prepay the Loans in an amount equal to the lesser of such insurance proceeds or Agent shall apply such the amount as a prepayment of the Obligations then outstanding in such manner as Agent shall direct and require in its sole and absolute discretionoutstanding. Prepayments of the Loans which Agent requires to be made under this Section 2.6(isubsection 2.6(j) shall be applied to the Loans in accordance with Section 2.6(ksubsection 2.6(j).