Effective Date Prepayment. On the Effective Date, the Borrower, the Administrative Agent and the Lenders agree that all amounts on deposit in the Cash Collateral Account (as defined in the Existing Bridge Credit Agreement) being maintained by the Administrative Agent in accordance with the Existing Bridge Credit Agreement shall be applied by the Administrative Agent as a principal prepayment of the outstanding Revolving Loans (concurrent with the reallocation of the Existing Bridge Loans into Revolving Loans under Section 2.21 below) hereunder.
Appears in 3 contracts
Sources: First Lien Credit Agreement (Pennsylvania Real Estate Investment Trust), First Lien Credit Agreement (Pennsylvania Real Estate Investment Trust), First Lien Credit Agreement (Pennsylvania Real Estate Investment Trust)