Common use of Replacement Secured Financing Clause in Contracts

Replacement Secured Financing. Upon receipt by an Obligor of any Cash Proceeds from any Replacement Secured Financing, the Borrower shall prepay the Loan from the proceeds thereof in the manner provided below in an aggregate amount equal to the Collateral Release Value for each item or category (as applicable) of Collateral subject to such Replacement Secured Financing. Any prepayment of the Loan under this subsection shall be made on the Business Day following the receipt by such Obligor of the proceeds of the applicable Replacement Secured Financing.

Replacement Secured Financing. Upon receipt by an Obligor of any Cash Proceeds from any Future Issuance constituting a Replacement Secured Financing, the Borrower shall prepay the Loan from the proceeds thereof in the manner provided below in an aggregate amount equal to the Collateral Release Value for each item or category (as applicable) of Collateral subject to such Replacement Secured Financing. Any prepayment of the Loan under this subsection shall be made on the Business Day following the receipt by such Obligor of the proceeds of the applicable Replacement Secured FinancingFuture Issuance.