Timing of Mandatory Prepayments Sample Clauses

Timing of Mandatory Prepayments. Any Mandatory Prepayments of Advances made under a Note shall be made on the Intended Prepayment Date set forth in the relevant Prepayment Election Notice delivered pursuant to this Section 3.06, which Intended Prepayment Dates shall occur within the applicable time frames provided in Section 3.06(e) (Application of Mandatory Prepayments) or, as applicable under Section 3.06(f) (Delayed Mandatory Prepayment Election), on the Delayed Prepayment Date; provided, that the Intended Prepayment Date shall not occur on a Payment Date.
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Timing of Mandatory Prepayments. Any Mandatory Prepayments of Advances made under the Notes shall (i) be made on the later of (x) the Intended Prepayment Date set forth in the relevant Prepayment Election Notice delivered pursuant to Section 3.6(c)(vi) or (y) the date that is five Business Days following the date a Prepayment Election Notice is approved by DOE in accordance with the terms of this Section 3.6(c), (ii) be applied to Advances under the Notes in the order in which Advances were advanced by FFB to the Borrower, which Advances shall be identified as required pursuant to this Section 3.6(c)(vii) by the Borrower in such Prepayment Election Notice and (iii) be due in an amount equal to the Prepayment Price calculated in accordance with the terms of the respective Note as specified by FFB, provided that, in the event FFB fails to deliver a notice of the Prepayment Price in accordance with the terms of the applicable Note no later than the Business Day immediately preceding the prepayment date contemplated in subclause (i) above, the Borrower shall either (x) (1) in good faith calculate the Prepayment Price due in connection with such Mandatory Prepayment and (2) make a payment on such prepayment date to FFB in an amount equal to the amount so calculated or (y) make a payment on such prepayment date to FFB in an amount equal to the applicable Net Cash Proceeds, Reinvestment Prepayment Amount, Excess Advance Amount, Project Modification Prepayment Amount, Excess Project Loan Amount or Excess Loan Amount, as the case may be, together, in each case, with accrued and unpaid interest on such amount, provided further that, if the actual Prepayment Price calculated by FFB (1) is greater than the amount paid by the Borrower, the Borrower shall promptly, but in no event later than one Business Day following delivery by FFB to the Borrower of notice of the amount of such Prepayment Price, make a payment to FFB in an amount equal to the difference between such Prepayment Price and the amount actually paid by the Borrower or (2) is less than the amount paid by the Borrower, the amount equal to the difference between the Prepayment Price and the amount paid by the Borrower shall be credited to the payment due by the Borrower to FFB on the Quarterly Payment Date immediately following the date of such payment by the Borrower.
Timing of Mandatory Prepayments. At the written request of the Borrowers, any prepayment required to be made pursuant to this Section 5.3 may be paid to the Security Agent to be placed in an interest bearing cash collateral account until the next Interest Payment Date or if earlier a date on which a prepayment could occur without any break funding costs. The Security Agent shall hold the funds in the cash collateral account for the benefit of the Lenders, but any interest accrued on the account (which shall accrue at LIBOR minus 0.25% per annum) less costs for minimum reserve requirements shall be credited to the Borrowers. All moneys (including accrued interest) held in the cash collateral account shall serve as collateral for the prepayment(s) required under this Section 5.3 and shall be subject to a security interest in favor of the Security Agent.
Timing of Mandatory Prepayments. Subject to Section 2.09(d), prepayments described in Section 2.09(a) and Section 2.09(b) shall be made within five (5) Business Days of receipt of any Bridge Loan Mandatory Prepayment Amount or Term Loan Mandatory Prepayment Amount, as applicable, and any reduction of Commitments described in Section 2.09(a) or Section 2.09(b) shall be effective on the date of receipt of such Bridge Loan Mandatory Prepayment Amount or Term Loan Mandatory Prepayment Amount, as applicable. Subject to Section 2.09(d), to the extent any Bridge Loan Mandatory Reinvestment Amount or Term Loan Mandatory Reinvestment Amount, as applicable, is not reinvested in a replacement property in accordance with Section 2.09(a) or Section 2.09(b), as applicable, such Bridge Loan Mandatory Reinvestment Amount or Term Loan Mandatory Reinvestment Amount shall be applied to the prepayment of Bridge Loan Advances or the Term Loan Advances, as applicable, on the date that is the first Business Day following the end of the 180 period described in Section 2.09(a) or in Section 2.09(b) or the applicable *, as applicable, (or such longer period as may be provided in an officer’s certificate described in Section 2.09(a)(x)(A) or Section 2.09(b), as applicable), and the Total Bridge Loan Commitment or Total Term Loan Commitment, as applicable, shall be automatically and permanently reduced on such date by any amount by which (i) the Bridge Loan Mandatory Reinvestment Amount exceeds the amount of Bridge Loan Advances outstanding on such date, or (ii) the Term Loan Mandatory Reinvestment Amount exceeds the amount of Term Loan Advances outstanding on such date, as applicable.

Related to Timing of Mandatory Prepayments

  • Application of Mandatory Prepayments All amounts required to be paid pursuant to this Section 2.05(b) shall be applied as follows:

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Mandatory Prepayment of Loans (i) If any Loan Party or any of its Restricted Subsidiaries Disposes of any Property (other than any Disposition of any Property permitted by Section 7.8(a) through (h), (j) or (k)) which results in the realization by such Person of Net Cash Proceeds, Borrower shall prepay an aggregate principal amount of Term Loans equal to 100% of such Net Cash Proceeds within three (3) Business Days of receipt thereof by such Person (such prepayments to be applied as set forth in clause (v) below); provided, however, that with respect to any Net Cash Proceeds realized under a Disposition described in this Section 2.8(d)(i), at the election of Borrower, and so long as no Event of Default shall have occurred and be continuing or shall result therefrom, such Loan Party or such Restricted Subsidiary may reinvest all or any portion of such Net Cash Proceeds in operating assets or other assets useful to its business so long as within 180 days after the receipt of such Net Cash Proceeds, such reinvestment shall have been consummated (as certified by Borrower in writing to Administrative Agent); and provided further, however, that (A) any Net Cash Proceeds not so reinvested within such 180-day period shall be immediately applied to the prepayment of the Term Loans as set forth in this Section 2.8(d)(i), and (B) if an Event of Default has occurred and is continuing at any time that any Loan Party or any of its Restricted Subsidiaries receives or is holding any Net Cash Proceeds which have not yet been reinvested, such Net Cash Proceeds shall be applied within three (3) Business Days following the first occurrence of such Event of Default to the prepayment of the Term Loans as set forth in this Section 2.8(d)(i).

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