Prepayments and Reductions Sample Clauses

Prepayments and Reductions. 52 8.8 Prime Rate, Base Rate, US Prime Rate and LIBOR Advances.......................................53 8.9

Prepayments and Reductions. Due to an Event of Loss. No later than the earlier of (x) the second Business Day following the date of receipt by Company or any of its Subsidiaries of any Insurance Proceeds or Condemnation Proceeds with respect to a Financed Aircraft or (y) 180 days following an Event of Loss with respect to a Financed Aircraft, Company shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), the Loans associated with such Financed Aircraft; provided that Company and its Subsidiaries shall not be required to make a prepayment pursuant to this subsection 2.4B(iii)(d) with respect to any proceeds applied pursuant to Section 4(f)(vi)(A) or 4(f)(vi)(B) of any Aircraft Chattel Mortgage.

Prepayments and Reductions. Subject to giving notice required by Section 5.6 and to the other provisions of this Agreement, the Borrower may from time to time repay Advances outstanding under any Credit without penalty, except that (i) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Periods unless the Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs and (ii) Bankers' Acceptances may not be paid prior to their respective maturity dates. The Borrower may from time to time, by giving not less than three Business Days' express written notice to the Agent and paying all accrued and unpaid commitment fees to the effective date of cancellation, irrevocably notify the Agent of the cancellation in whole or in part of the undrawn amount of any Credit by an amount which shall be a minimum of $1,000,000 and a whole multiple of $100,000, or the equivalent thereof in US Dollars. The Borrower shall have no right to any increase in the committed amount of that Credit thereafter.

Prepayments and Reductions. Due to Issuance of Other Debt or Equity Securities. On the date of receipt by Company or any of its Subsidiaries of the Cash proceeds (any such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including without limitation reasonable legal fees and expenses, being "NET SECURITIES PROCEEDS") from the issuance of any debt or equity Securities of Company or any of its Subsidiaries after the Fourth Amendment Effective Date (other than Cash proceeds of any Headquarters Financing or any other Indebtedness permitted under subsection 7.1), (1) Company shall prepay the Tranche B Term Loans in an amount equal to Existing Lenders' Share of such Net Securities Proceeds and (2) to the extent Existing Lenders' Share of such Net Securities Proceeds exceeds the aggregate outstanding principal amount of the Tranche B Term Loans, Company shall prepay in an amount equal to such excess first the Swing Line Loans to the full extent thereof and second the Revolving Loans, and the Revolving Loan Commitments shall be permanently reduced, in an amount equal to such excess; provided that to the extent any portion of New Lenders' Share of any such Net Securities Proceeds are not applied to prepay the New Term Loans, Company shall promptly make an additional prepayment of the Tranche B Term Loans, Swing Line Loans or Revolving Loans, as the case may be (and, if applicable, the Revolving Loan Commitments shall be permanently reduced), in the manner described above in an amount equal to such portion not so applied to prepay the New Term Loans.

Prepayments and Reductions. 4.6.1 Subject to giving notice required by Section 4.5, the Borrower may at any time and from time to time repay, in whole or in part, Advances outstanding under either Credit without penalty or premium, except that (a) LIBOR Advances may not be paid before the end of the applicable LIBOR Periods unless the Borrower indemnifies the Lenders for any breakage costs that the Lenders incur as a result, and (b) Bankers’ Acceptances may not be paid before their respective maturity dates but the Borrower may discharge its obligations with respect to outstanding Bankers’ Acceptances at any time by paying the full face amount of the Bankers’ Acceptances to the Agent to be held as Cash Collateral for the account of the Lenders until the maturity of the Bankers’ Acceptances; provided that the Borrower shall also concurrently repay all corresponding BA Equivalent Loans. 4.6.2 The Borrower may, without penalty or premium, from time to time, by giving not less than three Business Days’ express written notice to the Agent and paying all accrued and unpaid standby fees to the effective date of cancellation or reduction, irrevocably notify the Agent of the cancellation of either Credit or of the permanent reduction of the committed amount under either Credit by an amount which shall be a minimum of $10,000,000 and a whole multiple of $1,000,000. The Borrower shall have no right to any increase in the committed amount of the applicable Credit thereafter.

Prepayments and Reductions. (1) Subject to giving notice required by Section 6.3, the Borrowers may from time to time repay Advances outstanding under the applicable Credit without premium or penalty, except that (a) Banker’s Acceptances and BA Equivalent Loans may not be paid prior to their respective maturity dates, and (b) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Period unless the applicable Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs. (2) Each Borrower may from time to time, by giving not less than three Business Days express written notice to the Agent, irrevocably notify the Agent of the cancellation of the applicable Credit or of the permanent reduction of the committed amount of the applicable Credit by an amount which shall be a minimum of Cdn. $5,000,000 and a whole multiple of Cdn. $1,000,000. Such Borrower shall have no right to any increase in the committed amount of the applicable Credit thereafter.

Prepayments and Reductions from Net Insurance/Condemnation ---------------------------------------------------------- Proceeds. No later than the first Business Day following the date of -------- receipt by Administrative Agent or by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to the amount of such Net Insurance/Condemnation Proceeds; provided, however, that no such prepayment shall be required to the extent (i) under the terms of any lease or other agreement existing on the date hereof such Net Insurance/Condemnation Proceeds are required to be used to replace, rebuild or repair the asset so damaged, destroyed or taken or (ii) Company determines to utilize such Net Insurance/Condemnation Proceeds to replace, rebuild or repair the asset damaged, destroyed or taken, and in each case referred to in clauses (i) and (ii) above, Company so utilizes such Net Insurance/Condemnation Proceeds within 18 months of the receipt thereof.

Prepayments and Reductions. Due to an Event of Loss. Following an Event of Loss with respect to an Aircraft or a related Spare Engine, Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6(D)) the outstanding principal amount of Loans relating to the Aircraft and related Spare Engines which is the subject of the Event of Loss; provided that Borrower shall not be required to make a prepayment pursuant to this subsection 2.4C(ii)(c) in the event that Borrower receives Insurance Proceeds or Condemnation Proceeds in connection with such Event of Loss so long as at the time of reinvestment there exists no Potential Event of Default or Event of Default, in which case, such proceeds may, within 270 days of receipt of any such Proceeds, be reinvested in aircraft or spare engines substantially similar to the Aircraft or Spare Engines which was the subject of the Event of Loss so long as such replacement aircraft or Spare Engines are duly leased to Atlas pursuant to the applicable Lease or Leases and the Administrative Agent receives all documents and opinions in connection therewith which it may reasonably request, including, without limitation, an opinion from counsel of the Borrower to the extent that the Borrower as lessor and Administrative Agent as the assignee under the Lease are entitled to the benefits of Section 1110 of the Bankruptcy Code with respect to such property. To the extent Insurance Proceeds or Condemnation Proceeds received upon the occurrence of an Event of Loss with respect to an Aircraft or Spare Engine are not reinvested in accordance with the preceding sentence, then Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), those Loans relating to the Aircraft and related Spare Engines in respect of which such Insurance Proceeds or Condemnation Proceeds were received based on the outstanding principal amount of each Loan as compared to the total outstanding principal amount of all Loans relating to such Aircraft and related Spare Engines. Any amount of the Proceeds remaining (a) after prepayment of the Loan described in the immediately preceding sentence and/or (b) after being reinvested in the manner described in the second preceding sentence, shall be applied ratably to the prepayment of Loans relating to all of the remaining Aircraft and related Spare Engines based on the outstanding principal amount of each such Loan as compared to the total outstanding principal amount of all Loans relating to ...

Prepayments and Reductions. Due to Issuance of Debt or Equity Securities. On the date of receipt by Company or any of its Subsidiaries of the Cash proceeds (any such proceeds, net of underwriting discounts and commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses, being "Net Securities Proceeds") from the issuance of any debt (other than debt permitted by Section 7.1) or equity Securities of Company or any of its Subsidiaries to any Person other than Company or any of its Subsidiaries (and excluding any private issuances of Company Common Stock after the Closing Date to the extent such funds would not be required to prepay any other Indebtedness of the Company and its Subsidiaries) after the Closing Date, Company shall prepay the AXELs under the AXEL Credit Agreement and the Revolving Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to such Net Securities Proceeds.

Prepayments and Reductions. Due to issuance of Holdings ------------------------------------------------------ Equity Securities. On the date of receipt by Holdings or any of its ----------------- Subsidiaries (other than the cash proceeds from the initial public offering of Holdings Common Stock or the exercise of any over- allotment option in connection with such initial public offering) of the cash proceeds (any such proceeds, net of underwriting discounts, commissions and other reasonable legal fees and expenses, being "NET EQUITY SECURITIES PROCEEDS") from the issuance of any equity securities of Holdings or any of its Subsidiaries, the Borrowers shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of such Net Equity Securities Proceeds.