Common use of Applications of Certain Prepayment Proceeds Clause in Contracts

Applications of Certain Prepayment Proceeds. Each prepayment required to be made pursuant to ‎Section 2.13(c)(iv), (v), (vii) or (viii), above shall be applied as a mandatory prepayment of principal of first, the outstanding Term Loans, with such amounts being applied to the Scheduled Repayments (excluding the final payment), thereof in the inverse order of their maturity, second, to the final payment of the Term Loans, third, after no Term Loans are outstanding, the outstanding Swing Loans, and fourth, the outstanding Revolving Loans, and the Total Revolving Commitment shall not be permanently reduced on the date of any such prepayment by an amount equal to such prepayment in accordance with ‎Section 2.12(b) and the LC Outstandings shall be Cash Collateralized to the extent required by ‎Section 2.12(b).

Applications of Certain Prepayment Proceeds. Each prepayment required to be made pursuant to ‎Section Section 2.13(c)(iv), (v), (vii) or (viii), above shall be applied as a mandatory prepayment of principal of first, the outstanding Term Loans, with such amounts being applied to the Scheduled Repayments (excluding the final payment), thereof in the inverse order of their maturity, second, to the final payment of the Term Loans, third, after no Term Loans are outstanding, the outstanding Swing Loans, and fourth, the outstanding Revolving Loans, and the Total Revolving Commitment shall not be permanently reduced on the date of any such prepayment by an amount equal to such prepayment in accordance with ‎Section Section 2.12(b) and the LC Outstandings shall be Cash Collateralized to the extent required by ‎Section Section 2.12(b).