Timing of Mandatory Prepayments Sample Clauses

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.

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. Any Mandatory Prepayments of Advances made under the Notes shall be made on the Intended Prepayment Date set forth in the relevant Prepayment Election Notice delivered pursuant to Section 3.6(c)(v), which Intended Prepayment Dates shall occur within the applicable time frames provided in this Section 3.6(c).

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.