Special Application Provisions Regarding Term Loans Sample Clauses

Special Application Provisions Regarding Term Loans. So long as any Term Loans remain outstanding and so long as (and to the extent that) the Total Revolving Credit Commitments remain in effect, any amounts required to be applied as mandatory repayments to the Term Loans pursuant to Sections 2.5(i), (j), (k) and (l) shall be deposited with the Administrative Agent on the date the respective payment is otherwise required to be made and, unless the Borrower has already furnished the Administrative Agent at least three Business Days' prior written notice of the respective prepayment and amount thereof, the Administrative Agent shall not apply such amount to repay outstanding Term Loans until the third Business Day after its receipt of such amounts. Prior thereto, the Administrative Agent shall give each Term Loan Lender notice of the amount of the respective repayment to be made to its Term Loans pursuant to the provisions of said Section 2.5(i), (j), (k) or (l), as the case may be. Such amount shall be applied to repay the outstanding Term Loans of the various Term Loan Lenders in accordance with the provisions of this Section 2.5 on the date of receipt of such payment (if at least three Business Days' notice had previously been given to the Term Loan Lenders of such prepayment by the Borrower) or on the third Business Day after the Administrative Agent's receipt thereof; provided that, by written notice of any Term Loan Lender delivered to the Administrative Agent at least one Business Day before the date the respective repayment is actually applied to outstanding Term Loans, any Term Loan Lender may decline to receive its share of the amount which would otherwise have been applied to its outstanding Term Loans, in which case such declined amount shall instead be applied as a mandatory reduction of the Total Revolving Credit Commitments in accordance with the requirements of Section 2.5(g)(ii).
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Related to Special Application Provisions Regarding Term Loans

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