Mandatory Prepayments and Commitment Reductions definition

Mandatory Prepayments and Commitment Reductions. The following amounts shall be applied to prepay the Term Loans and permanently reduce the Revolving Facility:
Sample 1
Mandatory Prepayments and Commitment Reductions. At any time that the Leverage Ratio (as defined below and calculated on a pro forma basis before and after giving effect to the issuance thereof) is greater than 4.5x, the following amounts shall be applied to prepay first the Revolving Credit Facility and then the Term Loan A Facility and then the Term Loan B Facility (once Term Loan A Facility is fully repaid):
Sample 1

Examples of Mandatory Prepayments and Commitment Reductions in a sentence

  • Mandatory Prepayments and Commitment Reductions 5053 SECTION 4.07.

  • Mandatory Prepayments and Commitment Reductions: The Term Loan Facility will not require any mandatory prepayments or Term Commitment reductions.

  • Additional Mandatory Prepayments and Commitment Reductions 87 SECTION 2.28.

  • Mandatory Prepayments and Commitment Reductions ...............................................

  • Mandatory Prepayments and Commitment Reductions.....................................................................

  • Mandatory Prepayments and Commitment Reductions 20 2.05 Optional Termination or Reduction of Commitments 22 2.06 Repayment of Loans 22 2.07 Interest 22 2.08 Fees 23 2.09 Computation of Interest and Fees 23 2.10 Evidence of Debt 24 2.11 Payments Generally 24 2.12 Sharing of Payments 25 2.13 Order of Application 26 ARTICLE III.

  • Mandatory Prepayments and Commitment Reductions.................................

  • Voluntary Commitment Reductions 39 2.1.11 Mandatory Prepayments and Commitment Reductions 39 2.1.12 General Provisions Regarding Payments 41 2.1.13 Ratable Sharing 42 2.1.14 Making or Maintaining Loans 42 2.1.15 Increased Costs; Capital Adequacy 43 2.1.16 Taxes; Withholding, etc.

  • Such circuit court shall be located in the City of Janesville, County of Rock.

  • Voluntary Prepayment; Mandatory Prepayments and Commitment Reductions 50 SECTION 2.14.

Related to Mandatory Prepayments and Commitment Reductions

  • Mandatory Prepayments has the meaning given to such term in Section 1.2(b).

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Mandatory Prepayment shall have the meaning set forth in Section 2.1(c).

  • Waivable Mandatory Prepayment shall have the meaning assigned to such term in Section 2.11(e).

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • Voluntary Prepayment means a prepayment of principal of Term Loans pursuant to Section 2.05(a) in any year to the extent that such prepayment reduces the scheduled installments of principal due in respect of Term Loans as set forth in Section 2.07 in any subsequent year.

  • Prepayments means any moneys which shall be paid to the Issuer prior to the time such amounts become due. Prepayments shall not include any interest paid on such moneys.

  • Discount Prepayment Accepting Lender has the meaning set forth in Section 2.05(a)(v)(B)(2).

  • Required Prepayment Lenders the Majority Facility Lenders in respect of each Facility.

  • Class B-5 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-5 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-5 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-5 Prepayment Percentage for such Distribution Date will be zero.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Existing Revolving Commitments has the meaning specified in Section 2.17(b).

  • Mandatory Prepayment Event means any of the following:

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Extended Revolving Commitments has the meaning specified in Section 2.16(2).

  • Prepayment means, with respect to any Receivable, any prepayment, whether in part or in full, in respect of such Receivable.

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Aggregate Revolving Commitments means the Revolving Commitments of all the Lenders. The amount of the Aggregate Revolving Commitments in effect on the Closing Date is SIX HUNDRED MILLION DOLLARS ($600,000,000).

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • Class B-4 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-4 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-4 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-4 Prepayment Percentage for such Distribution Date will be zero.

  • Refinancing Revolving Commitments means one or more Classes of Revolving Loan commitments hereunder that result from a Refinancing Amendment.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.