Mandatory Repayments. 100% of the net proceeds of any sale or other disposition (including as a result of casualty or condemnation) by the Borrower or any of its subsidiaries of any assets (except for the sale of inventory in the ordinary course of business and certain other dispositions to be agreed on) shall be applied to repay the Revolving Credit Facility.
Mandatory Repayments. Mandatory repayments of Term Loans shall be required from (a) 100% of the proceeds (net of taxes and costs and expenses in connection with the sale) from asset sales (treating equity issuances by subsidiaries of the Borrower as asset sales) by the Borrower and its subsidiaries (subject to (x) reinvestment rights with respect to asset sales generating net cash proceeds of up to $100 million per annum provided that no default or event of default exists and such net proceeds are reinvested (including to construct, acquire, exchange and including mergers and acquisitions) within two years of the receipt thereof), (y) a $35 million per annum basket and (z) a basket for the proceeds from the sale of Crosslands and other properties to be determined),
Mandatory Repayments. The net cash proceeds from any of the following (collectively, "NET PROCEEDS") will be used to repay the Bridge Loans (subject to prior mandatory prepayments on the Senior Credit Facility, if any, and certain exceptions to be agreed to in the Bridge Loan Agreement), in each case at 100% of the principal amount of the Bridge Loans repaid plus accrued and unpaid interest to the date of the repayment and any LIBOR breakage costs: (i) any direct or indirect public offering or private placement of any senior or subordinated debt or equity securities, including, without limitation, any Permanent Financings, after the Closing Date by any Obligor or any affiliate of any Obligor, (ii) any future bank borrowings by any Obligor other than under the Senior Credit Facility as in effect on the Closing Date and (iii) any future asset sales by any Obligor or any affiliate or direct or indirect subsidiary of an Obligor.
Examples of Mandatory Repayments in a sentence
Mandatory Repayments and Commitment Reductions: Same as the Existing Credit Agreement.
Prepayments; Repayments; Taxes 44 4.01 Voluntary Prepayments 44 4.02 Mandatory Repayments and Commitment Reductions 45 4.03 Method and Place of Payment 46 4.04 Net Payments; Taxes 46 4.05 Application of Proceeds 47 SECTION 5.
Section 2.1 Facilities 25 Section 2.2 Interest 27 Section 2.3 Warrants 27 Section 2.4 Use of Proceeds 27 Section 2.5 Reserves 28 Section 2.6 Mandatory Repayments and Prepayments 28 Section 2.7 Optional Prepayments 29 Section 2.8 Prepayment Premium 29 Section 2.9 Unused Line Fee.
Prepayments; Repayments; Taxes 42 4.01 Voluntary Prepayments 42 4.02 Mandatory Repayments and Commitment Reductions 43 4.03 Method and Place of Payment 44 4.04 Net Payments; Taxes 44 4.05 Application of Proceeds 45 SECTION 5.
Upon effecting any of the Mandatory Repayments described in this Article 9, the Borrower shall not be entitled to request any further Tranche B Advances and the Finnvera Facility B and each Tranche B Lender’s Tranche B Commitment thereunder shall be cancelled.
More Definitions of Mandatory Repayments
Mandatory Repayments. The net cash proceeds from any of the following (collectively, "Net Proceeds") will be used to repay the Bridge Loans (subject to prior mandatory prepayments on the Senior Credit Facility, if any, and certain exceptions to be agreed to in the Bridge Loan Agreement), in each case at 100% of the principal amount of the Bridge Loans repaid plus accrued and unpaid interest to the date of the repayment and any LIBOR breakage costs: (i) any direct or indirect public offering or private placement of any senior or subordinated debt or equity securities, including, without limitation, any Permanent Financings, after the Closing Date by any Obligor or any affiliate of any Obligor, (ii) any future bank borrowings by any Obligor other than under the Senior Credit Facility as in effect on the Closing Date and (iii) any future asset sales by any Obligor or any affiliate or direct or indirect subsidiary of an Obligor.
Mandatory Repayments. The Borrower shall be required to repay the principal amount of the Facility: (i) dollar for dollar in the amount of 100% of net proceeds (without duplication) from any debt or equity issuances by Westfield America Trust ("WAT"), Guarantor (including issuances to WAT , and net proceeds from such issuances shall include sums contributed to Guarantor by WAT from debt or equity issuances by WAT), Borrower or any of Borrower's subsidiaries (the "Borrower Related Parties"); provided however that the following shall be exempt from the mandatory prepayment requirement: (A) the acquisition of additional Capital Stock of WEA by Westfield America Trust pursuant to the Stock Subscription Agreement dated as of May 29, 1998; (B) customary dividend reinvestment activities with respect to WAT, XXXX and WEA pursuant to customary documents relating thereto (as approved by Initial Lenders); and (C) construction loans incurred in conjunction with the redevelopment of existing properties (and in the ordinary course of the business activities) of the Borrower Related Parties; (D) prepayments required pursuant to the Growth Credit Agreement (defined below); and (E) the issuance of operating partnership interests by XXXX as consideration for the acquisition of additional properties; and (ii) dollar for dollar in the amount of 100% of net proceeds allocable (directly or indirectly) to Westfield Acquisition Vehicle, after payment of applicable sums due under the relevant senior loan documents, including applicable release payments, from the sale, refinancing, or other specified disposition of the Westfield Acquisition Assets.
Mandatory Repayments means any voluntary repayment required to be made by the Buyer or any Acquired Company following the Closing pursuant to any applicable Legal Requirements, including, without limitation, 42 C.F.R. 401.301 –401.305 and any related “60 Day Rule” regulations, in each case to the extent the repayment obligation arises from the provision of healthcare services or the submission of healthcare claims prior to the Closing by any Acquired Company or any predecessors from whom any Acquired Company acquired any Medicare or Medicaid provider number.
Mandatory Repayments. The following Section is added to Article Four of the Credit Agreement:
Mandatory Repayments. 1% amortization per annum of the Principal Amount with remainder payable in full on the Maturity Date • Semi-Annual payment of 50% of excess cash flow, with definition to be agreed upon by the Reorganized Borrower and the Requisite Consenting Lenders • Mandatory repayment from asset sale proceeds subject to exceptions and permitted reinvestment to be agreed upon by the Reorganized Borrower and the Requisite Consenting Lenders Financial Covenants: Beginning on December 31, 2010 (for the immediately preceding quarter), quarterly financial covenants to be agreed upon by the Reorganized Borrower and the Requisite Consenting Lenders.
Mandatory Repayments. Mandatory repayments of Term Loans shall be required from (a) 100% of the proceeds (net of (i) taxes and costs and expenses in connection with the sale and (ii) the amount of cash necessary to (subject to the limitation on dividends referred to in the section entitled "Covenants" below) be distributed as a result of such asset sale in connection with the maintenance of the REIT (as defined in the Code (as defined in the Securities Purchase Agreement)) status of Holdings and its subsidiaries) from asset sales by Holdings and its subsidiaries (subject to reinvestment exceptions to be negotiated), (b) 100% of the net proceeds from issuances of debt (with appropriate exceptions to be mutually agreed upon) by Holdings and its subsidiaries, (c) 100% of the net proceeds from issuances of equity by, or capital contributions to Holdings and its subsidiaries (with appropriate exceptions to be mutually agreed upon), (d) 75% (subject to a step-down to 50% based on meeting a leverage test to be agreed upon and so long as no default or event of default under the Credit Facilities is in existence) of annual excess cash flow (to be defined to the satisfaction of the Agents) of Holdings and its subsidiaries (it being understood and agreed that the definition of excess cash flow shall be defined to exclude the amount of cash necessary to (subject to the limitation on dividends referred to in the section entitled "Covenants" below) be distributed in connection with the maintenance of the REIT status of Holdings and its subsidiaries) and (e) 100% of the net proceeds from insurance recovery and condemnation events of Holdings and its subsidiaries (subject to certain reinvestment rights to be negotiated). All mandatory repayments of Term Loans made pursuant to clauses (a)-(e) above shall apply to reduce future scheduled amortization payments of the Term Loans being repaid pro rata based upon the then remaining amounts of such payments. To the extent the amount of any mandatory repayment which would otherwise be required as provided above exceeds the aggregate principal amount of Term Loans then outstanding, such excess shall apply to reduce the commitments under the Revolving Loan Facility. In addition, (i) if at any time the outstandings pursuant to the Revolving Loan Facility (including Letter of Credit outstandings) exceed the aggregate commitments with respect thereto, prepayments of Revolving Loans (and/or the cash collateralization of Letters of Credit) shall be required ...
Mandatory Repayments. Borrower is required to repay outstanding Loans or cash collateralize outstanding Letters of Credit to the extent that outstanding Loans and Letters of Credit exceed the aggregate Commitments (including by reason of any reduction of Commitments as provided below). Termination or Reduction of Commitments: CalEnergy may terminate or reduce the Commitments in amounts of at least $5 million at any time on at least three business days' notice. In the event that Borrower or any of its Subsidiaries shall at any time, or from time to time, receive any net proceeds in excess of $100,000,000 from Asset Dispositions made during any fiscal year, Borrower shall give prompt written notice thereof to the Agent, and the Commitments of the Banks shall, at the election of Majority Banks, be ratably reduced (pro rata with the revolving credit facility in the maximum principal amount of $150 million (the "Other Facility") as contemplated by that separate commitment letter among the Borrower and the Co-Arrangers, provided that the Commitments, together with the commitments under the Other Facility, shall not be reduced to an aggregate amount less than $250 million) by such amounts up to such excess and at such times as the Agent or Majority Banks may direct.