Committed Amount. If at any time the sum of the aggregate principal amount of outstanding Loans plus LOC Obligations outstanding shall exceed the Committed Amount, the Borrower shall immediately prepay the outstanding principal balance on the Loans (or, after all Loans have been repaid, cash collateralize the LOC Obligations) in an amount sufficient to eliminate such excess.
Appears in 2 contracts
Sources: 364 Day Credit Agreement (Glenayre Technologies Inc), 364 Day Credit Agreement (Glenayre Technologies Inc)
Committed Amount. If at any time time, the sum of the aggregate principal amount of outstanding Loans plus LOC Obligations outstanding shall exceed the Committed Amount, the Borrower immediately shall immediately prepay the outstanding principal balance on the Loans and (or, after all Loans have been repaid, ) cash collateralize the LOC Obligations) , in an amount sufficient to eliminate such excess.
Appears in 1 contract
Sources: Credit Agreement (Simcala Inc)