Mandatory Prepayment of the Notes Sample Clauses

Mandatory Prepayment of the Notes. In the event that Bank or Borrower determine that a Loan Excess exists, Borrower shall immediately, but in no event later than fifteen (15) days following the earlier of either: (a) Borrower becoming aware that a Loan Excess exists, or (b) notice from Bank of any such determination, (i) prepay the principal of the Note in an aggregate amount at least equal to such Loan Excess or (ii) add to the Borrowing Base additional Borrowing Base Receivables pursuant to Section 2.10 sufficient to increase the Borrowing Base to an amount equal the unpaid principal amount of the Note.
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Mandatory Prepayment of the Notes. In the event that Bank or Borrower determine that a Loan Excess exists, Borrower shall immediately, but in no event later than fifteen (15) days following the earlier of either: (a) Borrower becoming aware that a Loan Excess exists, or (b) notice from Bank of any such determination, (i) prepay the principal of the Note in an aggregate amount at least equal to such Loan Excess or (ii) add to the Borrowing Base Properties additional Oil and Gas Properties, Cash, Cash Equivalent, and/or Eligible Marketable Securities of Borrower sufficient in value, as determined by Bank in its sole discretion pursuant to Section 2.07, to increase the Borrowing Base to equal the unpaid principal amount of the Note plus all accrued, unpaid interest.
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Mandatory Prepayment of the Notes. If, upon any sale, lease, conveyance or other disposition of any real property or related facilities owned in fee by the Company (including, without limitation, all rights, easements and privileges appertaining or relating thereto, all buildings, fixtures, and improvements located thereon) (each a "Real Estate Transfer"):
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Mandatory Prepayment of the Notes. (a) The Borrowers’ obligations under the Notes and this Agreement are not assumable.
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Mandatory Prepayment of the Notes. The heading and the first two sentence of Section 2.4 of the 2009 Facility Agreement shall be amended and restated to read as follows:
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Mandatory Prepayment of the Notes. At any time on or after the occurrence of a Change in Control and for a period of 60 days thereafter, each Holder shall have the right, but not the obligation, to require the Company to (a) prepay the Notes held by such Holder for an amount equal to 101% of the then outstanding principal balance, plus all accrued but unpaid interest thereon and (b) pay in full all of the other Obligations owing to such Holder, which amount shall be calculated on the date of prepayment and be payable in cash on such date (the “Prepayment Amount”). Any Holder may exercise this right by delivering to the Company at its principal office a written notice stating the Holder’s intention to exercise the Holder’s right to require prepayment pursuant to this Section 2.6. The Company shall be obligated to pay the Prepayment Amount on the 30th Business Day following its receipt of the Holder’s written notice to exercise its prepayment right hereunder. On the date of prepayment of the Notes, the Company shall pay to the Holders of the Notes being prepaid pursuant to this Section, the Prepayment Amount, by wire transfer of immediately available funds to an account designated by such Holder. Concurrently therewith, each Holder of Notes being prepaid shall deliver to the Company the original of its Note or an affidavit of loss thereof in a form that is reasonably satisfactory to the Company.
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Mandatory Prepayment of the Notes. (a) Subject to the Intercreditor Agreement, the Borrowers' obligations under the Notes and this Agreement are not assumable. In the event (i) of a Change of Control; or (ii) of the termination of the Hard Rock License Agreement and if the Hard Rock Hotel & Casino Biloxi becomes owned, operated or licensed by an HRC Competitor or is operated as a Music-Themed Facility, each Holder shall have the right (but not the obligation) to require the Borrower to prepay all of the Notes held by such Holder for an amount equal to the then outstanding principal balance, all accrued but unpaid interest thereon, plus all PIK Interest and all applicable Repayment Charges due under SECTION 2.3 above, and pay in full all of the other Obligations owing to such Holder, which amount shall be calculated on the date of prepayment and be payable in cash on such date. Within two Business Days of the occurrence of one of the events described in clauses (i)-(ii) above, the Borrowers shall provide written notice to the Holders setting forth such event, the date of such event and, if applicable, the material terms or circumstances thereof. If a Holder elects to require the Borrowers to prepay pursuant to this SECTION 2.7, such Holder shall exercise this right by providing written notice to the Borrowers ("PREPAYMENT NOTICE"). All prepayments required under this SECTION 2.7(a) shall be made by Borrowers within 5 Business Days of receipt of a Prepayment Notice. On the date of prepayment, the Borrowers shall pay to any Holders of the Notes being prepaid pursuant to this SECTION 2.7(a), the price specified above, by wire transfer of immediately available funds to an account designated by such Holder in the Prepayment Notice. Concurrently therewith, each Holder of Notes being prepaid shall deliver to the Borrowers the original copy of its Notes or an affidavit of loss thereof in a form that is reasonably satisfactory to the Borrowers.
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Related to Mandatory Prepayment of the Notes

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Mandatory Prepayment The Borrower shall be obliged to prepay the Relevant Amount if a Ship is sold or becomes a Total Loss:

  • Mandatory Prepayment of Loans Clause (a) of Section 2.10 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows:

  • Mandatory Prepayments of Loans If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

  • Waivable Mandatory Prepayment Anything contained herein to the contrary notwithstanding, so long as any Tranche A Term Loans are outstanding, in the event Borrower is required to make any mandatory prepayment (a “Waivable Mandatory Prepayment”) of the Tranche B Term Loans, not less than five Business Days prior to the date (the “Required Prepayment Date”) on which Borrower is required to make such Waivable Mandatory Prepayment, Borrower shall notify Administrative Agent of the amount of such prepayment, and Administrative Agent will promptly thereafter notify each Lender holding an outstanding Tranche B Term Loan of the amount of such Lender’s Pro Rata Share of such Waivable Mandatory Prepayment and such Lender’s option to refuse such amount. Each such Lender may exercise such option by giving written notice to Borrower and Administrative Agent of its election to do so on or before the third Business Day prior to the Required Prepayment Date (it being understood that any Lender which does not notify Borrower and Administrative Agent of its election to exercise such option on or before the third Business Day prior to the Required Prepayment Date shall be deemed to have elected, as of such date, not to exercise such option). On the Required Prepayment Date, Borrower shall pay to Administrative Agent the amount of the Waivable Mandatory Prepayment, which amount shall be applied (i) in an amount equal to that portion of the Waivable Mandatory Prepayment payable to those Lenders that have elected not to exercise such option, to prepay the Tranche B Term Loans of such Lenders (which prepayment shall be applied to the scheduled Installments of principal of the Tranche B Term Loans in accordance with Section 2.15(b)), and (ii) in an amount equal to that portion of the Waivable Mandatory Prepayment otherwise payable to those Lenders that have elected to exercise such option, to prepay the Tranche A Term Loans (which prepayment shall be further applied to the scheduled installments of principal of the Tranche A Term Loans in accordance with Section 2.15(b)), with any excess after such prepayment of the Tranche A Term Loans being further applied in accordance with clauses second through sixth of Section 2.15(b).

  • Other Mandatory Prepayments In addition to and without limiting any provision of any Loan Document:

  • Mandatory Prepayment Upon an Acceleration If the Term Loan Advances are accelerated by Bank following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (ii) the Prepayment Fee, (iii) the Final Payment, and (iv) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

  • Optional and Mandatory Prepayments of Loans 46 SECTION 2.11 Alternate Rate of Interest............................... 49 SECTION 2.12

  • Application of Mandatory Prepayments All amounts required to be paid pursuant to this Section 2.05(b) shall be applied as follows:

  • Mandatory Prepayments and Commitment Reductions 22 2.7 Conversion and Continuation Options............................ 23 2.8 Limitations on Eurodollar Tranches............................. 23 2.9 Interest Rates and Payment Dates............................... 23 2.10 Computation of Interest and Fees............................... 24 2.11 Inability to Determine Interest Rate........................... 24 2.12 Pro Rata Treatment and Payments................................ 25 2.13

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