MANDATORY PREPAYMENT FROM FORCED DRAW PROCEEDS Sample Clauses
MANDATORY PREPAYMENT FROM FORCED DRAW PROCEEDS. Upon its receipt of a notice from the Working Capital Facility Agent, specifying that a Forced Draw is required to be made under the Working Capital Facility, the Parent will promptly provide a copy of such a notice to the Agent. If such a Forced Draw is to be made on or after the Pushdown Date and if required by an Instructing Group:
MANDATORY PREPAYMENT FROM FORCED DRAW PROCEEDS. Upon its receipt of a notice from the Working Capital Facility Agent, specifying that a Forced Draw is required to be made under the Working Capital Facility, the Parent will promptly provide a copy of such a notice to the Agent. If such a Forced Draw is to be made on or after the Pushdown Date and if required by an Instructing Group:
14.6.1 the Agent shall notify the Parent that the Banks require all (or such lesser amount as specified by an Instructing Group) of the proceeds of that Forced Draw to be deposited in the Prepayment Escrow Account and applied in repayment of the Loan in accordance with Clause 14.7 (Application of Proceeds);
14.6.2 the Parent shall, upon receipt of the proceeds of that Forced Draw and to the extent specified in the notice received by it pursuant to sub-clause 14.6.1 above, deposit such proceeds in the Prepayment Escrow Account for application in repayment of the Loan in accordance with Clause 14.7 (Application of Proceeds); and
14.6.3 if the Agent requires it to do so, the Parent shall direct the Working Capital Facility Agent to pay the relevant amount of the proceeds of that Forced Draw directly to the Agent.