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 Prepayments. If the Term Loans are accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Lenders, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of: (i) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (ii) the Final Payment, (iii) the Prepayment Fee, plus (iv) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts. Notwithstanding (but without duplication with) the foregoing, on the Maturity Date, if the Final Payment had not previously been paid in full in connection with the prepayment of the Term Loans in full, Borrower shall pay to Collateral Agent, for payment to each Lender in accordance with its respective Pro Rata Share, the Final Payment in respect of the Term Loan(s).
Mandatory Prepayments. (i) [Reserved].
Mandatory Prepayments. (i) If, after giving effect to any termination or reduction of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b), the total Revolving Credit Exposures exceeds the total Commitments, then the Borrower shall (A) prepay the Borrowings on the date of such termination or reduction in an aggregate principal amount equal to such excess, and (B) if any excess remains after prepaying all of the Borrowings as a result of an LC Exposure, pay to the Administrative Agent on behalf of the Lenders an amount equal to such excess to be held as cash collateral as provided in Section 2.08(j).
Mandatory Prepayments. 28 Section 2.8
Mandatory Prepayments. 50 SECTION 2.14. Reserve Requirements; Change in Circumstances ............................................ 51 SECTION 2.15. Change in Legality ......................................... 54 SECTION 2.16. Indemnity .................................................. 55 SECTION 2.17. Pro Rata Treatment ......................................... 56 SECTION 2.18.
Mandatory Prepayments. The Loans shall be prepaid in the amounts and under the circumstances set forth below, all such prepayments to be applied as set forth below or as more specifically provided in subsection 2.4B(iv):
Mandatory Prepayments. (a) If at any time (i) the sum of the outstanding balance of Revolving Loans and outstanding face amount of Letters of Credit exceeds the Line of Credit, or (ii) Availability of the Borrower is less than zero, the amount of such excess (in the case of clause (i)) or the amount of the Obligations required to be repaid to make Availability greater than zero (in the case of clause (ii)), shall be immediately due and payable to the Agent, for the benefit of the Lenders. If any such excess (in the case of clause (i)) or inadequacy (in the case of clause (ii)) remains after repayment in full of the aggregate outstanding Revolving Loans, the Borrower shall provide cash collateral for the Letters of Credit at 105% of the face amount thereof or otherwise satisfied as required by Agent. Without limiting the provisions of SECTION 4.2(c) of this Financing Agreement, upon the completion of any Asset Sale permitted by SECTION 7.2.3 of this Financing Agreement which includes a sale of any Designated Real Estate Property (other than any Excluded Real Estate Property), the Designated Real Estate Advance Amount shall be permanently reduced by an amount equal to 25% of the net book value of such property on SCHEDULE 6.5(c) hereto or, if mortgaged to the Collateral Agent after the Closing Date, 25% of the appraised fair market value of such property as determined pursuant to the appraisal requirement provided under SECTION 7.1.1(b)(viii) of this Financing Agreement or as otherwise agreed to between Borrower and Agent and, if the decrease in the Designated Real Estate Advance Amount shall result in Availability of less than zero, Borrower shall immediately make all payments required above in this SECTION 4.2(a); PROVIDED, that if any Designated New Real Estate Property does not have the effect of restoring any reduction in the Designated Real Estate Advance Amount, no sale or casualty loss with respect to such Designated New Real Estate Property shall operate to decrease the Designated Real Estate Advance Amount. Notwithstanding the foregoing, any Overadvance made pursuant to SECTION 14.9 of this Financing Agreement shall be repaid only on demand. In addition, notwithstanding the foregoing, any reduction in the Designated Real Estate Advance Amount caused (i) by any Asset Sale, (ii) pursuant to SECTION 9 of this Financing Agreement in connection with an event giving rise to a Ratable NY Portion, or (iii) pursuant to SECTION 7.1.2(c) of this Financing Agreement in connection wi...
Mandatory Prepayments. The Borrowers shall make prepayments of the Loans hereunder as follows:
Mandatory Prepayments. The Borrower shall prepay the Advances on each Payment Date in the manner and to the extent provided in the Priority of Payments.
