Common use of Term Loan Prepayments Clause in Contracts

Term Loan Prepayments. (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within five Business Days after the occurrence of such Prepayment Event, offer to prepay, in accordance with paragraph (c) below, the principal amount of Term Loans in an amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided, however, that the Borrower may elect to not so apply to the prepayment of Term Loans up to $50,000,000 of Net Cash Proceeds from Real Estate Financing Prepayment Events in the aggregate during the term of this Agreement. (ii) Not later than the date that is six months after the last day of any fiscal year (commencing with the fiscal year ending May 30, 1997), the Borrower shall offer to prepay, in accordance with paragraph (c) below, the principal of Term Loans in an amount equal to (x) 50% of Excess Cash Flow for such fiscal year (or, in the case of the fiscal year ending May 30, 1997, for the period from and including the Closing Date to and including May 30, 1997) minus (y) the amount of any such Excess Cash Flow that the Borrower has, prior to such date, reinvested in the business of the Borrower or any of its Subsidiaries (subject to Section 9.14).

Term Loan Prepayments. (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within five Business Days after the occurrence of such Prepayment Event, offer to prepay, in accordance with paragraph (c) below, the principal amount of Term Loans in an amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided, however, that the Borrower may elect to not so apply to the prepayment of Term Loans up to $50,000,000 of Net Cash Proceeds from Real Estate Financing Prepayment Events in the aggregate during the term of this Agreement. (ii) Not later than the date that is six months after the last day of any fiscal year (commencing with the fiscal year ending May 30December 31, 19971998), the Borrower shall offer to prepay, in accordance with paragraph (c) below, the principal of Term Loans in an amount equal to (x) 50% of Excess Cash Flow for such fiscal year (or, in the case of the fiscal year ending May 30December 31, 19971998, for the period from and including the Closing Date to and including May 30December 31, 1997) minus 1998), MINUS (y) the amount of any such Excess Cash Flow that the Borrower has, prior to such date, reinvested in the business of the Borrower or any of its Subsidiaries (subject to Section 9.14).

Term Loan Prepayments. (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within five Business Days after the occurrence of such Prepayment Event, offer to prepay, in accordance with paragraph (c) below, the principal amount of Term Loans in an amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided, however, that the Borrower may elect to not so apply to the prepayment of Term Loans up to $50,000,000 30,000,000 of Net Cash Proceeds from Real Estate Financing any (x) Permitted Sale Leaseback with respect to one or more Closing Date Stores or (y) Debt Incurrence Prepayment Events Event in the aggregate during the term of this Agreement. (ii) Not later than the date that is six months after the last day of any fiscal year (commencing with the fiscal year ending May 30June 27, 19971998), the Borrower shall offer to prepay, in accordance with paragraph (c) below, the principal of Term Loans in an amount equal to (x) 50% of Excess Cash Flow for such fiscal year (or, in the case of the fiscal year ending May 30June 27, 19971998, for the period from and including the Closing Date to and including May 30June 27, 1997) 1998), minus (y) the amount of any such Excess Cash Flow that the Borrower has, prior to such date, reinvested in the business of the Borrower or any of its Subsidiaries (subject to Section 9.14).