Common use of Application of Mandatory Prepayments by Type of Loans Clause in Contracts

Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e) shall be applied as follows: first, to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A Term Loans, Tranche B Term Loans and the New Term Loans (if any); second, to prepay the Swing Line Loans to the full extent thereof; third, to prepay the Revolving Loans to the full extent thereof; fourth, to prepay outstanding reimbursement obligations with respect to Letters of Credit; fifth, to cash collateralize Letters of Credit; and sixth, to Borrower.

Appears in 10 contracts

Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.), Credit and Guaranty Agreement (Valeant Pharmaceuticals International), Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)

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Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e) shall be applied as follows: first, to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A each Term Loans, Tranche B Term Loans and the New Term Loans (if any)Loan; second, with respect to U.S. Borrower, to prepay the Swing Line Loans to the full extent thereofthereof (without any reduction in the Revolving Commitments); third, to prepay the Revolving Loans to the full extent thereofthereof (without a corresponding reduction of Revolving Commitments); fourth, to prepay outstanding reimbursement obligations with respect to Letters of Credit; and fifth, to cash collateralize Letters of Credit; and sixth, to Borrower.

Appears in 2 contracts

Samples: Counterpart Agreement (Arizona Chemical Ltd.), First Lien Credit and Guaranty Agreement (Arizona Chemical Ltd.)

Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e) shall be applied as follows: first, to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A Term Loans, Tranche B Term Loans and the New Term Loans (if any)) and shall be applied within each Class of Term Loans in direct order of maturity; second, to prepay the Swing Line Loans to the full extent thereof; third, to prepay the Revolving Loans to the full extent thereof; fourth, to prepay outstanding reimbursement obligations with respect to Letters of Credit; fifth, to cash collateralize Letters of Credit[Reserved]; and sixth, to Borrower.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)

Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e) shall be applied as follows: first, to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A Term Loans, Tranche B Term Loans and the New Term Loans (if any)) and shall be applied within each Class of Term Loans in direct order of maturity; second, to prepay the Swing Line Loans to the full extent thereof; third, to prepay the Revolving Loans to the full extent thereof; fourth, to prepay outstanding reimbursement obligations with respect to Letters of Credit; fifth, to cash collateralize Letters of Credit; and sixth, to Borrower.;

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)

Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e) shall be applied as follows: first, to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A Term Loans, Tranche B Term Loans and the New Term Loans (if any); second, to prepay the Swing Line Loans to the full extent thereof; third, to prepay the Revolving Loans to the full extent thereof; fourth, to prepay outstanding reimbursement obligations with respect to Letters of Credit; fifth, to cash collateralize Letters of Credit; and sixth, to Borrower.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Valeant Pharmaceuticals International, Inc.)

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Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e) shall be applied as follows: first, to prepay Term Loans on a pro rata basis (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A Term Loans, Tranche B C Term Loans and the New Term Loans (if any)Loans; second, to prepay the Swing Line Loans to the full extent thereof; third, to prepay the Revolving Loans to the full extent thereof; fourth, to prepay outstanding reimbursement obligations with respect to Letters of Credit; fifth, to cash collateralize Letters of Credit; and sixth, to Borrowerpay any remaining Obligations; and seventh, to Company.

Appears in 1 contract

Samples: First Lien Credit and Guaranty Agreement (Telvent Git S A)

Application of Mandatory Prepayments by Type of Loans. Any amount required to be paid pursuant to Sections 2.14(a) through 2.14(e2.14(f) shall be applied without penalty or premium (except for breakage costs, if any) as follows: first, with respect to Term Loans, to prepay the Term Loans Loan Exposure, with such prepayments to be applied on a pro rata basis across all remaining installments (in accordance with the respective outstanding principal amounts thereof) and further applied on a pro rata basis to reduce the remaining scheduled Installments of principal of the Tranche A Term Loans, Tranche B Term Loans and the New Term Loans (if anyin accordance with Section 2.1(c); second, to prepay the Swing Line Loans to the full extent thereof; third, to prepay the Revolving Loans to the full extent thereof; fourth, to prepay outstanding reimbursement obligations with respect to Revolving Letters of Credit; and fifth, to cash collateralize Revolving Letters of Credit; and sixth, . Mandatory prepayments applied to Borrowerthe Term Loans may not be reborrowed.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Amerigroup Corp)

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