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

Application of Mandatory Prepayments by Type of Loans. Any amount (the "Applied Amount") required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Acquisition Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d) shall be applied FIRST to prepay the Term Loans to the full extent thereof, SECOND, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition Loans to the full extent thereof and to permanently reduce the Acquisition Loan Commitments by the amount of such prepayment, and THIRD, to the extent of any remaining portion of the Applied Amount, to prepay the Swing Line Loans and thereafter to prepay Working Capital Loans to the full extent thereof but in either case without permanently reducing the Working Capital Loan Commitments by the amount of such prepayments.

Appears in 4 contracts

Samples: Credit Agreement (Decrane Holdings Co), Credit Agreement (Audio International Inc), Credit Agreement (Decrane Holdings Co)

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Application of Mandatory Prepayments by Type of Loans. Any amount (the "Applied AmountAPPLIED AMOUNT") required to be applied as a mandatory prepayment of the Term Loans and/or a repayment of the Revolving Loans and reduction of the Acquisition Revolving Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d2.4B(iii)(a)-(f) shall be applied FIRST first to prepay the Term Loans (such payment to be applied pro rata to the outstanding Term A Loans and Term B Loans based on the outstanding aggregate principal amount of each such type of Loan) to the full extent thereof, SECONDsecond, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition Revolving Loans to the full extent thereof and to permanently reduce the Acquisition Revolving Loan Commitments by the amount of such prepayment, and THIRDthird, to the extent of any remaining portion of the Applied Amount, to prepay further permanently reduce the Swing Line Loans and thereafter to prepay Working Capital Loans Revolving Loan Commitments to the full extent thereof but in either case without permanently reducing the Working Capital Loan Commitments by the amount of such prepaymentsthereof.

Appears in 2 contracts

Samples: Credit Agreement (Northland Cable Properties Six LTD Partnership), Credit Agreement (Northland Cable Properties Six LTD Partnership)

Application of Mandatory Prepayments by Type of Loans. Any amount (the "β€œApplied Amount"”) required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Acquisition Revolving Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d2.4B(iii)(a)-(c) shall be applied FIRST applied, first, to prepay the Term Loans pro rata across each Tranche thereof, to the full extent thereof, SECONDsecond, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition prepayment of the Swing Line Loans to the full extent thereof and to permanently reduce without any permanent reduction of the Acquisition Revolving Loan Commitments by the amount of such prepaymentCommitments, and THIRDthird, to the extent of any remaining portion of the Applied Amount, to prepay the Swing Line prepayment of the Revolving Loans and thereafter to prepay Working Capital Loans the cash collateralization of outstanding Letters of Credit to the full extent thereof but in either case thereof, without permanently reducing a permanent reduction of the Working Capital Revolving Loan Commitments by Commitments, and, fourth, to the amount extent of such prepaymentsany remaining portion of the Applied Amount, to Borrower.

Appears in 1 contract

Samples: Credit Agreement (Isle of Capri Casinos Inc)

Application of Mandatory Prepayments by Type of Loans. Any amount (the "Applied AmountAPPLIED AMOUNT") required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Acquisition Revolving Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d) shall be applied FIRST first to prepay the Term Loans to the full extent thereof, SECONDsecond, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition Loans to the full extent thereof and to permanently reduce the Acquisition Loan Commitments by the amount of such prepayment, and THIRD, to ----- ------ the extent of any remaining portion of the Applied Amount, to prepay the Swing Line Loans and thereafter to prepay Working Capital Loans to the full extent thereof but in either case without and to permanently reducing reduce the Working Capital Revolving Loan Commitments by the amount of such prepaymentsprepayment, third, to the extent of any remaining portion of the Applied Amount, to ----- prepay the Revolving Loans to the full extent thereof and to further permanently reduce the Revolving Loan Commitments by the amount of such prepayment, and fourth, to the extent of any remaining portion of the ------ Applied Amount, to further permanently reduce the Revolving Loan Commitments to the full extent thereof.

Appears in 1 contract

Samples: Credit Agreement (Price Communications Wireless Inc)

Application of Mandatory Prepayments by Type of Loans. Any amount (the "Applied AmountAPPLIED AMOUNT") required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Acquisition Revolving Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d2.4B(iii)(a)-(f) shall be applied FIRST first to prepay the Term Loans to the full extent thereof, SECONDsecond, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition Revolving Loans to the full extent thereof and to permanently reduce the Acquisition Revolving Loan Commitments by the amount of such prepayment, and THIRDthird, to the extent of any remaining portion of the Applied Amount, to prepay further permanently reduce the Swing Line Loans and thereafter to prepay Working Capital Loans Revolving Loan Commitments to the full extent thereof but in either case without thereof. Notwithstanding the foregoing, upon the occurrence and during the continuation of an Event of Default, any Applied Amount shall be applied to prepay on a pro rata basis the Term Loans and the Revolving Loans and to permanently reducing reduce the Working Capital Revolving Loan Commitments by the amount of such prepaymentsprepayment of the Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Benedek License Corp)

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Application of Mandatory Prepayments by Type of Loans. Any amount (the "Applied AmountAPPLIED AMOUNT") required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Acquisition Revolving Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d2.4B(iii)(a)-(g) shall be applied FIRST first to prepay the Term Loans to the full extent thereof, SECOND, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition Loans to the full extent thereof and to permanently reduce the Acquisition Loan Commitments by the amount of such prepayment, and THIRDsecond, to the extent of any remaining portion of the Applied Amount, to prepay the Swing Line Loans and thereafter to prepay Working Capital Loans to the full extent thereof but in either case without and to permanently reducing reduce the Working Capital Revolving Loan Commitments by the amount of such prepaymentsprepayment, third, to the extent of any remaining portion of the Applied Amount, to prepay the Revolving Loans to the full extent thereof and to further permanently reduce the Revolving Loan Commitments by the amount of such prepayment, and fourth, to the extent of any remaining portion of the Applied Amount, to further permanently reduce the Revolving Loan Commitments to the full extent thereof.

Appears in 1 contract

Samples: Credit Agreement (Houlihans Restaurant Group Inc)

Application of Mandatory Prepayments by Type of Loans. Any amount (the "Applied Amount") required to be applied as a mandatory prepayment of the Loans and/or a reduction of the Acquisition Loan Commitments pursuant to subsections 2.4B(iii)(a)-(d) shall be applied FIRST first to prepay the Term Loans to the full extent thereof, SECONDsecond, to the extent of any remaining portion of the Applied Amount, to prepay the Acquisition Loans to the full extent thereof and to permanently reduce the Acquisition Loan Commitments by the amount of such prepayment, and THIRDthird, to the extent of any remaining portion of the Applied Amount, to prepay the Swing Line Loans and thereafter to prepay Working Capital Loans to the full extent thereof but in either case without permanently reducing the Working Capital Loan Commitments by the amount of such prepayments.

Appears in 1 contract

Samples: Credit Agreement (Decrane Holdings Co)

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