Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the first Business Day following the date of return to Borrowers or any of their Subsidiaries of any surplus assets of any pension plan of Borrowers or any for their Subsidiaries, Borrowers shall prepay the Loans and/or the Commitments shall be permanently reduced in an aggregate amount (such amount being the "Net Pension Proceeds") equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof.
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of return to any Borrower or any of its Subsidiaries of any surplus assets of any pension plan of such Borrower or any of its Subsidiaries, (1) such Borrower shall prepay its Loans and/or such Borrower's Revolving Loan Commitments shall be permanently reduced in an aggregate amount (such amount being the "NET REVERSION AMOUNT") equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof, and (2) to the extent that any such Net Reversion Amount remains after the applications required pursuant to the foregoing clause (1), such Borrower shall cause the excess of such Net Reversion Amount to be applied to prepay the remaining outstanding Loans of all other Borrowers and/or the Revolving Loan Commitments of all other Borrowers shall be permanently reduced, in each case on a pro rata basis (in accordance with the respective outstanding amount of Revolving Loan Commitments).
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of return to any Credit Party of any surplus assets of any pension plan of the Credit Parties in excess of $50,000 with respect to any one return or related series of returns, Borrowers shall prepay the Loans, and the Commitments shall be permanently reduced, in an amount (such amount being the "NET PENSION PROCEEDS") equal to 100% of such returned surplus assets (including the first $50,000 thereof), net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof. Any such mandatory prepayments or reductions of the Commitments shall be applied as specified in subsection 2.4B(iv).
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. No later than the first Business Day following date of return to Holdings or any of its Subsidiaries of any surplus assets of any pension plan of Borrower or any of its Subsidiaries, Borrower shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount (such amount being the "NET PENSION PROCEEDS") equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof.
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. No later than the first Business Day following the date of return to Company or any of its Subsidiaries of any surplus assets of any pension plan of Company or any of its Subsidiaries, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an amount (such amount being the "NET PENSION PROCEEDS") equal to 100% of such returned surplus assets net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof.
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of reversion to Company or any of its Subsidiaries of any surplus assets of any pension plan of Company or any of its Subsidiaries, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount (such amount being the “Net Pension Proceeds”) equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof. If Company is required to apply any portion of Net Pension Proceeds to prepay Indebtedness evidenced by the AXELs under the AXEL Credit Agreement or the Senior Subordinated Notes or the Discount Notes (under the terms of the New Sub Debt Indentures), then notwithstanding anything contained in this Agreement to the contrary (but subject to subsection 2.4B(iv)(d) hereof), Company shall apply such Net Pension Proceeds to the prepayment of the Tranche A Term Loans and the AXELs pro rata according to the respective outstanding principal amount, if any, of each, then to the prepayment of Revolving Loans and/or the reduction of Revolving Loan Commitments, in each case so as to eliminate or minimize any obligation to prepay any such Indebtedness evidenced by the Senior Subordinated Notes or the Discount Notes.
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. Within five Business Days of the date of return to Company or any of its Domestic Subsidiaries of any surplus assets of any pension plan of Company or any of its Domestic Subsidiaries, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount (such amount being the "NET PENSION PROCEEDS") equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including taxes and penalties payable as a result thereof.
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of return to BCC or any of its Subsidiaries of any surplus assets of any pension plan of BCC or any of its Subsidiaries, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount (such amount being the "NET PENSION PROCEEDS") equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof.
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of return to Borrower or any of its Subsidiaries of any surplus assets of any pension plan (as defined in Section 3(2) of ERISA) of Borrower or any of its Subsidiaries, Borrower shall prepay the Loans, and the Commitments shall be permanently reduced, in an amount equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof. Any such mandatory prepayments or reductions of the Commitments shall be applied as specified in Section 2.4B(iv). (b)
Prepayments and Reductions Due to Reversion of Surplus Assets of Pension Plans. On the date of return to any Credit Party or any of its Subsidiaries of any surplus assets of any pension plan of such Credit Party or any of its Subsidiaries, Company shall prepay the Revolving Loans in an amount (the "NET REVERSION AMOUNT") equal to 100% of such returned surplus assets, net of transaction costs and expenses incurred in obtaining such return, including incremental taxes payable as a result thereof. Any such mandatory prepayments shall be applied as specified in subsection 2.4B(iv).
