Examples of Waterfall Level in a sentence
On [date when such payments are due]: ¨ Pursuant to Waterfall Level (3), transfer $ to Lender for payment of interest currently due on the Loans and on other amounts accruing interest under the Credit Documents.
On [Repayment Date]: ¨ Pursuant to Waterfall Level (4), transfer $ to Lender for repayment of principal of the Loans.
Amounts shall be deposited in the Distribution Suspense Account from the Revenue Account as provided in Waterfall Level (8) of Section 3.3.2(c).
Without the prior written consent of Administrative Agent, such subordinated indebtedness shall not be paid or withdrawn in whole or in part, nor shall Guarantor accept any payment of or on account of any such indebtedness or as a withdrawal of capital while the Credit Agreement is in effect except from distributions permitted under Waterfall Level 8 and 10 of Section 7.2 of the Credit Agreement or as permitted under Section 3.10(b) of the Credit Agreement.
If, at any time when amounts are required to be paid pursuant to Waterfall Level (2) through Waterfall Level (4), insufficient funds are contained in the Revenue Account to pay such amounts (a “Debt Service Deficiency”), Lender shall direct Depositary to withdraw from the DSR Account funds deposited in or credited to such Account, or Lender shall draw upon any applicable Cash-Substitute LC in an amount sufficient to pay such amounts.