{"component": "clause", "props": {"groups": [{"size": 196, "samples": [{"hash": "7I1HhbJcR8e", "uri": "/contracts/7I1HhbJcR8e#mandatory-prepayment", "label": "Financing Agreement (Tpi Composites, Inc)", "score": 27.4585895538, "published": true}, {"hash": "aM1YATkDdz0", "uri": "/contracts/aM1YATkDdz0#mandatory-prepayment", "label": "Financing Agreement (Tpi Composites, Inc)", "score": 27.3901443481, "published": true}, {"hash": "ksoEtKbRoCL", "uri": "/contracts/ksoEtKbRoCL#mandatory-prepayment", "label": "Financing Agreement (Tpi Composites, Inc)", "score": 27.2669410706, "published": true}], "snippet_links": [{"key": "days-after", "type": "definition", "offset": [23, 33]}, {"key": "the-agents-and-the-lenders", "type": "clause", "offset": [50, 76]}, {"key": "audited-annual-financial-statements", "type": "definition", "offset": [80, 115]}, {"key": "pursuant-to-section", "type": "definition", "offset": [116, 135]}, {"key": "commencing-with-the", "type": "clause", "offset": [150, 169]}, {"key": "the-financial-statements", "type": "definition", "offset": [212, 236]}, {"key": "the-borrowers", "type": "definition", "offset": [601, 614]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [632, 660]}, {"key": "in-accordance-with", "type": "clause", "offset": [674, 692]}, {"key": "equal-to", "type": "definition", "offset": [722, 730]}, {"key": "applicable-ecf-percentage", "type": "definition", "offset": [735, 760]}, {"key": "flow-of", "type": "definition", "offset": [783, 790]}, {"key": "the-parent", "type": "definition", "offset": [791, 801]}, {"key": "with-respect-to", "type": "clause", "offset": [861, 876]}, {"key": "fiscal-year-ending", "type": "definition", "offset": [881, 899]}, {"key": "shall-be-measured", "type": "clause", "offset": [973, 990]}, {"key": "based-on", "type": "definition", "offset": [991, 999]}, {"key": "beginning-on-the-effective-date", "type": "clause", "offset": [1011, 1042]}, {"key": "immediately-upon", "type": "clause", "offset": [1085, 1101]}, {"key": "permitted-dispositions", "type": "definition", "offset": [1159, 1181]}, {"key": "the-definition-of", "type": "definition", "offset": [1240, 1257]}, {"key": "loan-party", "type": "clause", "offset": [1288, 1298]}, {"key": "net-cash-proceeds", "type": "definition", "offset": [1462, 1479]}, {"key": "received-by", "type": "definition", "offset": [1480, 1491]}, {"key": "in-connection-with", "type": "clause", "offset": [1504, 1522]}, {"key": "to-the-extent", "type": "clause", "offset": [1540, 1553]}, {"key": "aggregate-amount", "type": "definition", "offset": [1563, 1579]}, {"key": "loan-parties", "type": "clause", "offset": [1617, 1629]}, {"key": "prepayment-of-the-loans", "type": "clause", "offset": [1700, 1723]}, {"key": "under-clause", "type": "clause", "offset": [1789, 1801]}, {"key": "blocked-account", "type": "clause", "offset": [2066, 2081]}, {"key": "subject-to", "type": "definition", "offset": [2082, 2092]}, {"key": "control-agreement", "type": "definition", "offset": [2095, 2112]}, {"key": "in-writing", "type": "definition", "offset": [2185, 2195]}, {"key": "application-of", "type": "clause", "offset": [2203, 2217]}, {"key": "receipt-of", "type": "clause", "offset": [2367, 2377]}, {"key": "nothing-contained-in-this-section", "type": "clause", "offset": [2496, 2529]}, {"key": "disposition-of", "type": "clause", "offset": [2607, 2621]}, {"key": "the-issuance", "type": "clause", "offset": [2697, 2709]}, {"key": "permitted-indebtedness", "type": "clause", "offset": [2801, 2823]}, {"key": "equity-issuances", "type": "definition", "offset": [2874, 2890]}, {"key": "a-change-of-control", "type": "definition", "offset": [2907, 2926]}, {"key": "outstanding-amount", "type": "definition", "offset": [2959, 2977]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [3131, 3157]}, {"key": "consent-to", "type": "definition", "offset": [3205, 3215]}, {"key": "otherwise-prohibited", "type": "clause", "offset": [3254, 3274]}, {"key": "terms-and-conditions-of-this-agreement", "type": "clause", "offset": [3282, 3320]}, {"key": "extraordinary-receipts", "type": "clause", "offset": [3396, 3418]}, {"key": "principal-of", "type": "definition", "offset": [3463, 3475]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [3626, 3655]}, {"key": "insurance-proceeds", "type": "definition", "offset": [3833, 3851]}, {"key": "condemnation-awards", "type": "clause", "offset": [3855, 3874]}, {"key": "the-obligations", "type": "clause", "offset": [3914, 3929]}, {"key": "in-the-aggregate", "type": "definition", "offset": [4021, 4037]}, {"key": "properties-or-assets", "type": "definition", "offset": [4279, 4299]}, {"key": "current-assets", "type": "clause", "offset": [4312, 4326]}, {"key": "provided-that", "type": "definition", "offset": [4360, 4373]}, {"key": "no-default-or-event-of-default", "type": "clause", "offset": [4379, 4409]}, {"key": "the-administrative-borrower", "type": "clause", "offset": [4502, 4529]}, {"key": "the-date-of-receipt", "type": "clause", "offset": [4602, 4621]}, {"key": "not-to-exceed", "type": "definition", "offset": [4827, 4840]}, {"key": "expiration-of-the", "type": "clause", "offset": [5115, 5132]}, {"key": "the-relevant", "type": "clause", "offset": [5153, 5165]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [5216, 5234]}, {"key": "occurrence-of-a-default", "type": "clause", "offset": [5256, 5279]}, {"key": "an-event-of-default", "type": "definition", "offset": [5283, 5302]}, {"key": "borrower-shall", "type": "clause", "offset": [5497, 5511]}, {"key": "by-telephone", "type": "definition", "offset": [5544, 5556]}, {"key": "facsimile-or-other-electronic-transmission", "type": "clause", "offset": [5571, 5613]}, {"key": "in-the-case", "type": "clause", "offset": [5700, 5711]}, {"key": "reference-rate-loan", "type": "definition", "offset": [5735, 5754]}, {"key": "new-york-city-time", "type": "definition", "offset": [5783, 5801]}, {"key": "libor-rate-loan", "type": "clause", "offset": [5893, 5908]}], "snippet": "(i) Within 10 Business Days after the delivery to the Agents and the Lenders of audited annual financial statements pursuant to Section 7.01(a)(iii), commencing with the delivery to the Agents and the Lenders of the financial statements for the Fiscal Year ended December 31, 2014 or, if such financial statements are not delivered to the Agents and the Lenders on the date such statements are required to be delivered pursuant to Section 7.01(a)(iii), within 10 Business Days after the date such statements are required to be delivered to the Agents and the Lenders pursuant to Section 7.01(a)(iii), the Borrowers shall prepay the outstanding principal amount of the Loans in accordance with Section 2.05(d) in an amount equal to the applicable ECF Percentage times the Excess Cash Flow of the Parent and its Subsidiaries for such Fiscal Year; provided, that, with respect to the Fiscal Year ending December 31, 2014, the prepayment required under this Section 2.05(c)(i) shall be measured based on the period beginning on the Effective Date through the end of such Fiscal Year.\n(ii) Immediately upon any Disposition (excluding Dispositions which qualify as Permitted Dispositions under clauses (a), (b), (c), (d), (e), (f), (g) or (h) of the definition of Permitted Disposition) by any Loan Party or its Subsidiaries, the Borrowers shall prepay the outstanding principal amount of the Loans in accordance with Section 2.05(d) in an amount equal to 100% of the Net Cash Proceeds received by such Person in connection with such Disposition to the extent that the aggregate amount of Net Cash Proceeds received by all Loan Parties and their Subsidiaries (and not paid to the Administrative Agent as a prepayment of the Loans) shall exceed for all such Dispositions (other than Dispositions under clause (i) of the definition of Permitted Disposition) $2,000,000 in any Fiscal Year, provided, that, for all Dispositions under clause (i) of the definition of Permitted Disposition, all Net Cash Proceeds of such Dispositions shall be deposited into and maintained in a blocked account subject to a Control Agreement until the earlier of (x) such time as the Borrowers and the Agent agree in writing on the application of such Net Cash Proceeds, and upon such agreement such Net Cash Proceeds shall be applied in accordance with such agreement, and (y) 60 days after the receipt of any such Net Cash Proceeds, at which time such Net Cash Proceeds shall be applied in accordance with Section 2.05(d). Nothing contained in this Section 2.05(c)(ii) shall permit any Loan Party or any of its Subsidiaries to make a Disposition of any property other than in accordance with Section 7.02(c)(ii).\n(iii) Upon the issuance or incurrence by any Loan Party or any of its Subsidiaries of any Indebtedness (other than Permitted Indebtedness), or upon an Equity Issuance or series of related Equity Issuances that results in a Change of Control, the Borrowers shall prepay the outstanding amount of the Loans in accordance with Section 2.05(d) in an amount equal to 100% of the Net Cash Proceeds received by such Person in connection therewith. The provisions of this Section 2.05(c)(iii) shall not be deemed to be implied consent to any such issuance, incurrence or sale otherwise prohibited by the terms and conditions of this Agreement.\n(iv) Upon the receipt by any Loan Party or any of its Subsidiaries of any Extraordinary Receipts, the Borrowers shall prepay the outstanding principal of the Loans in accordance with Section 2.05(d) in an amount equal to 100% of the Net Cash Proceeds received by such Person in connection therewith.\n(v) Notwithstanding the foregoing, with respect to Net Cash Proceeds received by any Loan Party or any of its Subsidiaries in connection with a Disposition or the receipt of Extraordinary Receipts consisting of insurance proceeds or condemnation awards that are required to be used to prepay the Obligations pursuant to Section 2.05(c)(ii) or Section 2.05(c)(iv), as the case may be, up to $250,000 in the aggregate in any Fiscal Year of the Net Cash Proceeds from all such Dispositions and Extraordinary Receipts shall not be required to be so used to prepay the Obligations to the extent that such Net Cash Proceeds are used to replace, repair or restore properties or assets (other than current assets) used in such Person\u2019s business, provided that, (A) no Default or Event of Default has occurred and is continuing on the date such Person receives such Net Cash Proceeds, (B) the Administrative Borrower delivers a certificate to the Administrative Agent within 60 days after the date of receipt of such Net Cash Proceeds, stating that such Net Cash Proceeds shall be used to replace, repair or restore properties or assets used in such Person\u2019s business within a period specified in such certificate not to exceed 360 days after the date of receipt of such Net Cash Proceeds (which certificate shall set forth estimates of the Net Cash Proceeds to be so expended), (C) such Net Cash Proceeds are deposited in an account subject to a Control Agreement, and (D) upon the earlier of (1) the expiration of the period specified in the relevant certificate furnished to the Administrative Agent pursuant to clause (B) above or (2) the occurrence of a Default or an Event of Default, such Net Cash Proceeds, if not theretofore so used, shall be used to prepay the Obligations in accordance with Section 2.05(c)(ii) or Section 2.05(c)(iv) as applicable.\n(vi) The Administrative Borrower shall notify the Administrative Agent by telephone (confirmed by facsimile or other electronic transmission) of any prepayment pursuant to Section 2.05(c)(i), (ii), (iii) and (iv) hereunder (A) in the case of any prepayment of a Reference Rate Loan, not later than 12:00 noon, New York City time, one Business Day before the date of prepayment and (B) in the case of any prepayment of a LIBOR Rate Loan, not later than 12:00 noon, New York City time, three Business Days before the date of prepayment.", "hash": "364a09eaada4c24a660df359eb2ae808", "id": 1}, {"size": 120, "samples": [{"hash": "3zwcpqWaEeV", "uri": "/contracts/3zwcpqWaEeV#mandatory-prepayment", "label": "Note Purchase Agreement (Green Thumb Industries Inc.)", "score": 32.3429145813, "published": true}, {"hash": "b3DbgI5ttSZ", "uri": "/contracts/b3DbgI5ttSZ#mandatory-prepayment", "label": "Note Purchase Agreement (Green Thumb Industries Inc.)", "score": 30.9657764435, "published": true}, {"hash": "7n76fpfEkuv", "uri": "/contracts/7n76fpfEkuv#mandatory-prepayment", "label": "Note Purchase Agreement (Green Thumb Industries Inc.)", "score": 30.9657764435, "published": true}], "snippet_links": [{"key": "to-repay", "type": "clause", "offset": [30, 38]}, {"key": "outstanding-principal-amount", "type": "clause", "offset": [51, 79]}, {"key": "the-loans", "type": "clause", "offset": [83, 92]}, {"key": "accrued-interest", "type": "clause", "offset": [102, 118]}, {"key": "applicable-prepayment-fee", "type": "definition", "offset": [135, 160]}, {"key": "as-specified", "type": "clause", "offset": [162, 174]}, {"key": "any-change", "type": "definition", "offset": [256, 266]}, {"key": "payment-of-the", "type": "clause", "offset": [293, 307]}, {"key": "provided-that", "type": "definition", "offset": [363, 376]}, {"key": "prior-to-the", "type": "clause", "offset": [409, 421]}, {"key": "first-anniversary", "type": "clause", "offset": [422, 439]}, {"key": "agreement-date", "type": "definition", "offset": [447, 461]}, {"key": "principal-amount-of-the-notes", "type": "clause", "offset": [511, 540]}, {"key": "days-prior", "type": "definition", "offset": [573, 583]}, {"key": "proposed-change-of-control", "type": "definition", "offset": [591, 617]}, {"key": "notice-to-the-administrative-agent", "type": "clause", "offset": [650, 684]}, {"key": "of-the-purchasers", "type": "clause", "offset": [694, 711]}, {"key": "the-transaction", "type": "clause", "offset": [723, 738]}, {"key": "the-proposed-change", "type": "clause", "offset": [756, 775]}, {"key": "effective-date-of-the", "type": "clause", "offset": [866, 887]}, {"key": "cannabis-act", "type": "definition", "offset": [927, 939]}, {"key": "material-adverse-effect", "type": "clause", "offset": [989, 1012]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [1507, 1533]}, {"key": "no-prepayment-fee", "type": "clause", "offset": [1550, 1567]}, {"key": "in-the-event", "type": "clause", "offset": [1568, 1580]}, {"key": "event-of-default", "type": "definition", "offset": [1771, 1787]}, {"key": "amounts-due", "type": "definition", "offset": [1825, 1836]}, {"key": "pro-rata-share", "type": "definition", "offset": [2309, 2323]}], "snippet": "(a) Issuers shall be required to repay in full the outstanding principal amount of the Loans, and all accrued interest thereon and the applicable prepayment fee (as specified below) upon the occurrence of any of the following events:\n(i) Concurrently with any Change of Control, together with payment of the prepayment fee (as specified in Section 2.7(a) above); provided that if the Change of Control occurs prior to the first anniversary of the Agreement Date, then the prepayment fee shall equal 4.0% of the principal amount of the Notes. No less than five (5) Business Days prior to any proposed Change of Control, Issuers will deliver a written notice to the Administrative Agent and each of the Purchasers describing the transaction that constitutes the proposed Change of Control and stating the date on which the Change of Control shall occur.\n(ii) Upon the effective date of the expiration, termination or repeal of a Cannabis Act, if such expiration, termination or repeal has a Material Adverse Effect, together with payment of the prepayment fee (as specified in Section 2.7(a) above). If known, then no less than five (5) Business Days prior to and if unknown, then promptly after any expiration, termination or repeal of a Cannabis Act that has a Material Adverse Effect, Issuers will deliver a written notice to the Administrative Agent and each of the Purchasers describing the applicable expiration, termination or repeal and stating the date on which the mandatory prepayment shall occur. For the avoidance of doubt, there shall be no prepayment fee in the event that the expiration, termination or repeal of a Cannabis Act that has a Material Adverse Effect occurs prior to the first anniversary of the Agreement Date.\n(iii) Upon the occurrence of any Event of Default which results in the acceleration of amounts due under the Notes, together with payment of the prepayment fee (as specified in Section 2.7(a) above); provided that if the Event of Default occurs prior to the first anniversary of the Agreement Date, then the prepayment fee shall equal 4.0% of the principal amount of the Notes.\n(b) Any prepayment required under this Section 2.8 shall be accompanied by the prepayment fee, if any, set forth in Section 2.7(a) and/or Section 2.8(a) hereof. Any Purchaser shall receive its Pro Rata Share of any such prepayment.", "hash": "60f16a579f7f7f23b74f0b9e2c963d77", "id": 4}, {"size": 159, "samples": [{"hash": "hKK6Cle3Iq0", "uri": "/contracts/hKK6Cle3Iq0#mandatory-prepayment", "label": "Loan Agreement (Retail Value Inc.)", "score": 29.421628952, "published": true}, {"hash": "CtsykYMzT0", "uri": "/contracts/CtsykYMzT0#mandatory-prepayment", "label": "Loan Agreement (Retail Value Inc.)", "score": 29.3559207916, "published": true}, {"hash": "lOKz7HBW1hK", "uri": "/contracts/lOKz7HBW1hK#mandatory-prepayment", "label": "Loan Agreement (DDR Corp)", "score": 29.3367557526, "published": true}], "snippet_links": [{"key": "distribution-of-net-proceeds", "type": "clause", "offset": [53, 81]}, {"key": "relating-to", "type": "definition", "offset": [82, 93]}, {"key": "individual-continental-property", "type": "definition", "offset": [97, 128]}, {"key": "is-not-required-to", "type": "clause", "offset": [144, 162]}, {"key": "to-borrower", "type": "definition", "offset": [209, 220]}, {"key": "rent-loss-proceeds", "type": "definition", "offset": [260, 278]}, {"key": "each-case", "type": "definition", "offset": [299, 308]}, {"key": "in-accordance-with", "type": "clause", "offset": [310, 328]}, {"key": "applicable-terms-and-conditions", "type": "definition", "offset": [333, 364]}, {"key": "borrower-shall", "type": "clause", "offset": [373, 387]}, {"key": "at-lender", "type": "definition", "offset": [389, 398]}, {"key": "the-debt", "type": "clause", "offset": [416, 424]}, {"key": "equal-to", "type": "definition", "offset": [438, 446]}, {"key": "the-net", "type": "clause", "offset": [468, 475]}, {"key": "minimum-release-price", "type": "definition", "offset": [514, 535]}, {"key": "interest-shortfall", "type": "definition", "offset": [597, 615]}, {"key": "breakage-costs", "type": "clause", "offset": [620, 634]}, {"key": "costs-of-lender", "type": "clause", "offset": [665, 680]}, {"key": "in-connection-with", "type": "clause", "offset": [681, 699]}, {"key": "to-the-extent", "type": "clause", "offset": [716, 729]}, {"key": "to-lender", "type": "clause", "offset": [756, 765]}, {"key": "article-7", "type": "definition", "offset": [785, 794]}, {"key": "mortgage-mandatory-prepayment-amount", "type": "definition", "offset": [822, 858]}, {"key": "continuance-of-an-event-of-default", "type": "clause", "offset": [880, 914]}, {"key": "the-mortgage", "type": "clause", "offset": [999, 1011]}, {"key": "mezzanine-lender", "type": "definition", "offset": [1087, 1103]}, {"key": "mezzanine-mandatory-prepayment-amount", "type": "definition", "offset": [1131, 1168]}, {"key": "mezzanine-loan-documents", "type": "clause", "offset": [1201, 1225]}, {"key": "puerto-rico", "type": "definition", "offset": [1431, 1442]}, {"key": "casualty-proceeds", "type": "definition", "offset": [1554, 1571]}, {"key": "other-proceeds", "type": "clause", "offset": [1580, 1594]}, {"key": "hurricane-damage", "type": "clause", "offset": [1619, 1635]}, {"key": "remic-payment", "type": "definition", "offset": [2288, 2301]}, {"key": "no-prepayment-premium-or-penalty", "type": "clause", "offset": [2343, 2375]}, {"key": "without-limitation", "type": "clause", "offset": [2388, 2406]}, {"key": "default-prepayment-premium", "type": "definition", "offset": [2412, 2438]}, {"key": "made-pursuant-to", "type": "clause", "offset": [2487, 2503]}, {"key": "by-lender", "type": "definition", "offset": [2619, 2628]}, {"key": "monthly-payment-date", "type": "definition", "offset": [2684, 2704]}, {"key": "security-for-the-loan", "type": "clause", "offset": [2743, 2764]}, {"key": "interest-bearing", "type": "clause", "offset": [2771, 2787]}, {"key": "eligible-account", "type": "definition", "offset": [2789, 2805]}, {"key": "eligible-institution", "type": "definition", "offset": [2812, 2832]}, {"key": "interest-accruing", "type": "clause", "offset": [2844, 2861]}, {"key": "the-benefit", "type": "definition", "offset": [2865, 2876]}, {"key": "interest-on", "type": "definition", "offset": [2964, 2975]}, {"key": "trigger-period", "type": "definition", "offset": [3013, 3027]}, {"key": "no-event-of-default", "type": "clause", "offset": [3032, 3051]}, {"key": "cash-management-account", "type": "definition", "offset": [3191, 3214]}], "snippet": "(i) On each date on which Lender actually receives a distribution of Net Proceeds relating to an Individual Continental Property, and if Lender is not required to and does not make such Net Proceeds available to Borrower for Restoration or for disbursement as Rent Loss Proceeds (as applicable), in each case, in accordance with the applicable terms and conditions hereof, Borrower shall, at Lender\u2019s option, prepay the Debt in an amount equal to the aggregate of (A) the Net Proceeds up to an amount equal to the Minimum Release Price for such Individual Continental Property, (B) the applicable Interest Shortfall and Breakage Costs and (C) the actual reasonable costs of Lender in connection with such prepayment to the extent such amounts are not paid to Lender in accordance with Article 7 hereof (collectively, the \u201cMortgage Mandatory Prepayment Amount\u201d). Except during the continuance of an Event of Default, any Net Proceeds to be applied pursuant to this Section 2.7(c) hereof in excess of the Mortgage Mandatory Prepayment Amount shall be applied as follows: (I) first, to the Mezzanine Lender, in an amount equal to the Mezzanine Mandatory Prepayment Amount (as such term is defined in the Mezzanine Loan Documents), to be applied in accordance with the Mezzanine Loan Documents, and (III) lastly, to Borrower.\n(ii) On each date on which Lender actually receives a distribution of Net Proceeds relating to an Individual Puerto Rico Property, and if Lender is not required to and does not make such Net Proceeds (but specifically excluding the Casualty Proceeds and any other proceeds on account of the Prior Hurricane Damage) available to Borrower for Restoration or for disbursement as Rent Loss Proceeds (as applicable), in each case, in accordance with the applicable terms and conditions hereof, Borrower shall, at Lender\u2019s option, prepay the Debt in an amount equal to 100% of such Net Proceeds (but specifically excluding the Casualty Proceeds and any other proceeds on account of the Prior Hurricane Damage), together with the applicable Interest Shortfall and Breakage Costs and the actual reasonable costs of Lender in connection with such prepayment to the extent such amounts are not paid to Lender in accordance with Article 7 hereof.\n(iii) Borrower shall make the REMIC Payment as and to the extent required hereunder. No Prepayment Premium or penalty (including, without limitation, any Default Prepayment Premium) shall be due in connection with any prepayment made pursuant to this Section 2.7(c) (including, without limitation, in connection with any REMIC Payment). Any prepayment received by Lender pursuant to this Section 2.7(c) on a date other than a Monthly Payment Date shall be held by Lender as collateral security for the Loan in an interest bearing, Eligible Account at an Eligible Institution, with such interest accruing to the benefit of Borrower, and shall be applied by Lender on the next Monthly Payment Date, with any interest on such funds (I) to the extent that no Trigger Period and no Event of Default then exists, paid to Borrower and (II) to the extent no Event of Default then exists, but a Trigger Period then exists, deposited into the Cash Management Account.", "hash": "b6616d7b9ffb7336f907448b495a89bf", "id": 2}, {"size": 57, "samples": [{"hash": "kpZLBZ67gfG", "uri": "/contracts/kpZLBZ67gfG#mandatory-prepayment", "label": "Credit Agreement (Burlington Stores, Inc.)", "score": 27.5735797882, "published": true}], "snippet_links": [{"key": "obligations-shall", "type": "definition", "offset": [16, 33]}, {"key": "loan-party", "type": "clause", "offset": [94, 104]}, {"key": "net-proceeds", "type": "definition", "offset": [125, 137]}, {"key": "other-disposition", "type": "clause", "offset": [165, 182]}, {"key": "pursuant-to-a", "type": "clause", "offset": [194, 207]}, {"key": "sale-and-leaseback-transaction", "type": "definition", "offset": [208, 238]}, {"key": "pursuant-to-clause", "type": "clause", "offset": [268, 286]}, {"key": "the-definition-of", "type": "definition", "offset": [294, 311]}, {"key": "permitted-dispositions", "type": "definition", "offset": [313, 335]}, {"key": "to-the-extent", "type": "clause", "offset": [338, 351]}, {"key": "not-required", "type": "clause", "offset": [379, 391]}, {"key": "obligations-of-the-borrower", "type": "definition", "offset": [424, 451]}, {"key": "other-borrowers", "type": "definition", "offset": [455, 470]}, {"key": "abl-facility", "type": "definition", "offset": [481, 493]}, {"key": "equal-to", "type": "definition", "offset": [505, 513]}, {"key": "days-after", "type": "definition", "offset": [578, 588]}, {"key": "prepayment-of-term-loans", "type": "clause", "offset": [610, 634]}, {"key": "section-217", "type": "definition", "offset": [651, 663]}, {"key": "provided-that", "type": "definition", "offset": [675, 688]}, {"key": "no-specified-default", "type": "clause", "offset": [693, 713]}, {"key": "for-purposes-of", "type": "clause", "offset": [786, 801]}, {"key": "the-assets", "type": "clause", "offset": [836, 846]}, {"key": "in-respect-of", "type": "definition", "offset": [847, 860]}, {"key": "the-loan-parties", "type": "definition", "offset": [945, 961]}, {"key": "restricted-subsidiaries", "type": "definition", "offset": [966, 989]}, {"key": "receipt-of", "type": "clause", "offset": [1032, 1042]}, {"key": "letter-of-intent", "type": "clause", "offset": [1122, 1138]}, {"key": "commitment-to", "type": "clause", "offset": [1156, 1169]}, {"key": "entered-into", "type": "clause", "offset": [1196, 1208]}, {"key": "by-the-borrower", "type": "clause", "offset": [1459, 1474]}, {"key": "insured-damage", "type": "definition", "offset": [1571, 1585]}, {"key": "power-of-eminent-domain", "type": "clause", "offset": [1610, 1633]}, {"key": "a-loan", "type": "definition", "offset": [1712, 1718]}, {"key": "the-holder", "type": "clause", "offset": [2116, 2126]}, {"key": "the-lien", "type": "clause", "offset": [2184, 2192]}, {"key": "the-collateral-agent", "type": "clause", "offset": [2196, 2216]}, {"key": "refinancing-term-loans", "type": "definition", "offset": [3067, 3089]}, {"key": "permitted-indebtedness", "type": "clause", "offset": [3154, 3176]}, {"key": "indebtedness-of-the-borrower", "type": "clause", "offset": [3213, 3241]}, {"key": "commencing-with-the", "type": "clause", "offset": [3523, 3542]}, {"key": "fiscal-year-ending", "type": "definition", "offset": [3543, 3561]}, {"key": "the-borrower-shall", "type": "clause", "offset": [3613, 3631]}, {"key": "the-relevant", "type": "clause", "offset": [3636, 3648]}, {"key": "excess-cash-flow-application-date", "type": "definition", "offset": [3649, 3682]}, {"key": "the-excess", "type": "clause", "offset": [3742, 3752]}, {"key": "ecf-percentage", "type": "definition", "offset": [3764, 3778]}, {"key": "amount-of-term-loans", "type": "clause", "offset": [3829, 3849]}, {"key": "amount-expended", "type": "definition", "offset": [3998, 4013]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [4030, 4050]}, {"key": "certificate-of-the-borrower", "type": "definition", "offset": [4254, 4281]}, {"key": "to-repay", "type": "clause", "offset": [4447, 4455]}, {"key": "outstanding-class", "type": "definition", "offset": [4480, 4497]}, {"key": "class-of", "type": "definition", "offset": [4688, 4696]}, {"key": "in-accordance-with", "type": "clause", "offset": [4708, 4726]}, {"key": "the-foregoing", "type": "definition", "offset": [4727, 4740]}, {"key": "principal-of", "type": "definition", "offset": [4801, 4813]}, {"key": "as-directed", "type": "definition", "offset": [4855, 4866]}, {"key": "qualifying-secured-debt", "type": "definition", "offset": [4907, 4930]}, {"key": "secured-on", "type": "definition", "offset": [4939, 4949]}, {"key": "pari-passu-basis", "type": "definition", "offset": [4952, 4968]}, {"key": "the-obligations", "type": "clause", "offset": [4974, 4989]}, {"key": "from-excess-cash-flow", "type": "clause", "offset": [5012, 5033]}, {"key": "ratio-of", "type": "clause", "offset": [5135, 5143]}, {"key": "aggregate-principal-amount", "type": "definition", "offset": [5148, 5174]}, {"key": "aggregate-amount", "type": "definition", "offset": [5217, 5233]}, {"key": "lender-may", "type": "definition", "offset": [5316, 5326]}, {"key": "notice-to-the-administrative-agent", "type": "clause", "offset": [5423, 5457]}, {"key": "within-one-business-day", "type": "clause", "offset": [5458, 5481]}, {"key": "following-the", "type": "definition", "offset": [5482, 5495]}, {"key": "notice-of", "type": "clause", "offset": [5520, 5529]}, {"key": "a-lender", "type": "definition", "offset": [5570, 5578]}, {"key": "declined-amount", "type": "definition", "offset": [5615, 5630]}, {"key": "subject-to-the", "type": "definition", "offset": [5634, 5648]}, {"key": "prime-rate-loans", "type": "definition", "offset": [5672, 5688]}, {"key": "libo-loans", "type": "clause", "offset": [5738, 5748]}, {"key": "no-prepayment", "type": "clause", "offset": [5776, 5789]}, {"key": "day-of", "type": "clause", "offset": [5881, 5887]}, {"key": "interest-period-applicable-thereto", "type": "clause", "offset": [5891, 5925]}, {"key": "the-lenders", "type": "clause", "offset": [5958, 5969]}, {"key": "breakage-costs", "type": "clause", "offset": [5978, 5992]}, {"key": "business-days-of", "type": "clause", "offset": [6034, 6050]}, {"key": "written-demand", "type": "clause", "offset": [6063, 6077]}, {"key": "calculation-of", "type": "definition", "offset": [6122, 6136]}, {"key": "in-order-to", "type": "clause", "offset": [6179, 6190]}, {"key": "the-request", "type": "clause", "offset": [6285, 6296]}, {"key": "agent-shall", "type": "definition", "offset": [6333, 6344]}, {"key": "cash-collateral-account", "type": "definition", "offset": [6426, 6449]}, {"key": "the-applicable", "type": "clause", "offset": [6479, 6493]}, {"key": "at-the-end-of-the", "type": "clause", "offset": [6519, 6536]}, {"key": "the-agents", "type": "definition", "offset": [6638, 6648]}, {"key": "upon-the-occurrence-and-during", "type": "clause", "offset": [6657, 6687]}, {"key": "other-event-of-default", "type": "definition", "offset": [6711, 6733]}, {"key": "on-the-amendment-no", "type": "clause", "offset": [6800, 6819]}, {"key": "effective-date", "type": "clause", "offset": [6824, 6838]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [6870, 6896]}, {"key": "flow-of", "type": "definition", "offset": [6956, 6963]}, {"key": "foreign-subsidiary", "type": "definition", "offset": [6966, 6984]}, {"key": "requirement-of-law", "type": "definition", "offset": [7017, 7035]}, {"key": "in-clause", "type": "clause", "offset": [7220, 7229]}, {"key": "the-case", "type": "definition", "offset": [7244, 7252]}, {"key": "applicable-requirement", "type": "clause", "offset": [7286, 7308]}, {"key": "all-actions", "type": "definition", "offset": [7459, 7470]}, {"key": "required-by", "type": "definition", "offset": [7482, 7493]}, {"key": "ten-business", "type": "definition", "offset": [7763, 7775]}, {"key": "repayment-of-the-term-loans", "type": "clause", "offset": [7973, 8000]}, {"key": "in-good-faith", "type": "clause", "offset": [8057, 8070]}, {"key": "adverse-tax-consequence", "type": "definition", "offset": [8165, 8188]}, {"key": "with-respect-to", "type": "clause", "offset": [8189, 8204]}, {"key": "for-the-avoidance-of-doubt", "type": "clause", "offset": [8334, 8360]}, {"key": "nothing-in-this-agreement", "type": "clause", "offset": [8362, 8387]}], "snippet": "The outstanding Obligations shall be subject to prepayment as follows:\n(a) If on any date any Loan Party shall have received Net Proceeds from any sale, transfer or other disposition (including pursuant to a sale and leaseback transaction) of any Collateral permitted pursuant to clause (q) of the definition of \u201cPermitted Dispositions\u201d, to the extent that such Net Proceeds are not required to be applied to the payment of obligations of the Borrower or other borrowers under the ABL Facility, an amount equal to 100% of such Net Proceeds shall be applied within five Business Days after such date toward the prepayment of Term Loans as set forth in SECTION 2.17(f) unless, provided that (a) no Specified Default has occurred and is continuing, (i) the proceeds therefrom are utilized for purposes of replacing, restoring or repairing the assets in respect of which such proceeds were received or reinvesting in assets used or useful in any of the Loan Parties\u2019 or Restricted Subsidiaries business within twelve (12) months of the receipt of such proceeds (or within eighteen (18) months of receipt of such proceeds if a letter of intent or other binding commitment to reinvest such proceeds is entered into within twelve (12) months of receipt of such proceeds) and (b) no such prepayment shall be required in respect of any Net Proceeds unless and until such amount exceeds $10,000,000 in any Fiscal Year (and all amounts under such amount may be retained by the Borrower).\n(b) If on any date any Loan Party shall have received Net Proceeds from any casualty or other insured damage to, or any taking under power of eminent domain or by condemnation, expropriation or similar proceeding of, any Collateral of a Loan Party, to the extent that such Net Proceeds are not required to be applied to the payment of obligations of the Borrower or other borrowers under the ABL Facility, an amount equal to 100% of such Net Proceeds shall be applied within five Business Days after such date toward the prepayment of Term Loans as set forth in SECTION 2.17(f) unless (i) the proceeds therefrom are required to be paid to the holder of a Lien on such property or asset having priority over the Lien of the Collateral Agent, or (ii) the proceeds therefrom are utilized for purposes of replacing, restoring or repairing the assets in respect of which such proceeds, awards or payments were received or reinvesting in assets used or useful in any of the Loan Parties\u2019 or their Restricted Subsidiaries\u2019 business within twelve (12) months of the receipt of such proceeds (or within eighteen (18) months of receipt of such proceeds if a letter of intent or other binding commitment to reinvest such proceeds is entered into within twelve (12) months of receipt of such proceeds); provided that no such prepayment shall be required in respect of any Net Proceeds unless and until such amount exceeds $10,000,000 in any Fiscal Year (and all amounts under such amount may be retained by the Borrower).\n(c) If on any date any Loan Party shall have received Net Proceeds (i) from any Refinancing Term Loans or Indebtedness pursuant to clause (v)(i) of the definition of \u201cPermitted Indebtedness\u201d or (ii) from the incurrence of any Indebtedness of the Borrower or any of its Subsidiaries (other than Permitted Indebtedness), an amount equal to 100% of such Net Proceeds shall be applied within five Business Days after such date toward the prepayment of Term Loans as set forth in SECTION 2.17(f).\n(d) If, for any Fiscal Year of the Borrower commencing with the Fiscal Year ending January 28, 2012, there shall be Excess Cash Flow, the Borrower shall, on the relevant Excess Cash Flow Application Date (as defined below), apply an amount, if positive, equal to the excess of (i) the ECF Percentage of such Excess Cash Flow minus (ii) the principal amount of Term Loans optionally prepaid pursuant to SECTION 2.16 during such Fiscal Year toward the prepayment of the Term Loans as set forth in SECTION 2.17(f) and the amount expended by the Borrower pursuant to SECTIONS 2.16(d) and 9.04(g) during such Fiscal Year. Each such prepayment shall be made on a date (an \u201cExcess Cash Flow Application Date\u201d) no later than five Business Days after the date on which the compliance certificate of the Borrower has been delivered pursuant to SECTION 5.01(d).\n(e) [Reserved].\n(f) Any prepayment of any Term Loans pursuant to SECTIONS 2.17(a) through (d) above shall be applied to repay Term Loans of each then outstanding Class, provided, that (i) any prepayment of any Term Loans pursuant to SECTION 2.17(c) shall be applied to repay Term Loans of only those Class(es) selected by the Borrower. Any prepayment of any Class of Term Loans in accordance with the foregoing shall be applied to the remaining scheduled installments of principal of such Term Loans pursuant to SECTION 2.04 as directed by the Borrower, (ii) to the extent any Qualifying Secured Debt that is secured on a pari passu basis with the Obligations requires a prepayment from Excess Cash Flow, the amount of the prepayment of the Term Loans required above shall be reduced in proportion of the ratio of the aggregate principal amount of the Term Loans then outstanding to the aggregate amount of the Term Loans and such Qualifying Secured Debt then outstanding and (iii) any Lender may elect to decline its share of any prepayment pursuant to clause (a), (b) or (d) above by giving notice to the Administrative Agent within one Business Day following the date the Borrower gives notice of such prepayment (any amount declined by a Lender pursuant to this subclause (iii) a \u201cDeclined Amount\u201d). Subject to the foregoing, outstanding Prime Rate Loans of any Class shall be prepaid before outstanding LIBO Loans of such Class are prepaid. No prepayment of LIBO Loans of any Class shall be permitted pursuant to this SECTION 2.17 until the last day of an Interest Period applicable thereto, unless the Borrower reimburses the Lenders for all Breakage Costs associated therewith within fifteen (15) Business Days of receiving a written demand for such reimbursement which sets forth the calculation of such Breakage Costs in reasonable detail. In order to avoid such Breakage Costs, as long as no Specified Default has occurred and is continuing, at the request of the Borrower, the Administrative Agent shall hold all amounts required to be applied to LIBO Loans of a particular Class in a Cash Collateral Account and will apply such funds to the applicable LIBO Loans of such Class at the end of the then pending Interest Period therefor (provided that the foregoing shall in no way limit or restrict the Agents\u2019 rights upon the occurrence and during the continuance of any other Event of Default).\n(g) The Borrower shall prepay all Non-Converted Term B-23 Loans on the Amendment No. 45 Effective Date.\n(h) Notwithstanding any other provisions of this SECTION 2.17, (A) to the extent that any or all of the Excess Cash Flow of a Foreign Subsidiary is prohibited or delayed by any requirement of law from being repatriated to the Loan Parties, an amount equal to the portion of Excess Cash Flow so affected will not be required to be applied to repay Term Loans at the times provided in clause (d) above, as the case may be, but only so long, as the applicable requirement of law will not permit repatriation to the Loan Parties (the Loan Parties hereby agreeing to cause the applicable Foreign Subsidiary to promptly take all actions reasonably required by the applicable requirement of law to permit repatriation), and once a repatriation of any of such affected Excess Cash Flow is permitted under the applicable requirement of law, an amount equal to such Excess Cash Flow will be promptly (and in any event not later than ten Business Days after such repatriation is permitted) applied (net of any taxes that would be payable or reserved against if such amounts were actually repatriated whether or not they are repatriated) to the repayment of the Term Loans, and (B) to the extent that the Borrower has determined in good faith that repatriation of any of or all the Excess Cash Flow of a Foreign Subsidiary could have an adverse tax consequence with respect to such Excess Cash Flow, an amount equal to the Excess Cash Flow so affected may be retained by the applicable Foreign Subsidiary. For the avoidance of doubt, nothing in this Agreement, including SECTION 2.17 shall be construed to require any Foreign Subsidiary to repatriate cash.", "hash": "d8054be884e3b4c9d879ecca372ae44a", "id": 8}, {"size": 157, "samples": [{"hash": "dfQaNZFpzbs", "uri": "/contracts/dfQaNZFpzbs#mandatory-prepayment", "label": "Credit Agreement (Nexstar Media Group, Inc.)", "score": 34.598903656, "published": true}, {"hash": "8qRmYxdmNsS", "uri": "/contracts/8qRmYxdmNsS#mandatory-prepayment", "label": "Credit Agreement (Nexstar Media Group, Inc.)", "score": 33.5913772583, "published": true}, {"hash": "ijSCvXRq5pb", "uri": "/contracts/ijSCvXRq5pb#mandatory-prepayment", "label": "Credit Agreement (Nexstar Media Group, Inc.)", "score": 33.4681739807, "published": true}], "snippet_links": [{"key": "days-after", "type": "definition", "offset": [25, 35]}, {"key": "financial-statements", "type": "definition", "offset": [45, 65]}, {"key": "section-601a", "type": "clause", "offset": [107, 121]}, {"key": "nexstar-credit-agreement", "type": "clause", "offset": [130, 154]}, {"key": "related-group", "type": "definition", "offset": [163, 176]}, {"key": "compliance-certificate", "type": "definition", "offset": [177, 199]}, {"key": "the-borrower-shall", "type": "clause", "offset": [280, 298]}, {"key": "amount-of-term-loans", "type": "clause", "offset": [342, 362]}, {"key": "nexstar-borrower", "type": "definition", "offset": [380, 396]}, {"key": "to-the-borrower", "type": "clause", "offset": [397, 412]}, {"key": "subject-to-section", "type": "clause", "offset": [423, 441]}, {"key": "disposes-of", "type": "definition", "offset": [485, 496]}, {"key": "to-the-extent", "type": "clause", "offset": [567, 580]}, {"key": "casualty-event", "type": "definition", "offset": [623, 637]}, {"key": "in-the-aggregate", "type": "definition", "offset": [652, 668]}, {"key": "net-cash-proceeds", "type": "definition", "offset": [725, 742]}, {"key": "in-accordance-with", "type": "clause", "offset": [782, 800]}, {"key": "equal-to", "type": "definition", "offset": [872, 880]}, {"key": "the-percentage", "type": "definition", "offset": [881, 895]}, {"key": "represented-by", "type": "definition", "offset": [896, 910]}, {"key": "outstanding-amount", "type": "definition", "offset": [935, 953]}, {"key": "divided-by", "type": "clause", "offset": [981, 991]}, {"key": "sum-of", "type": "clause", "offset": [1000, 1006]}, {"key": "the-term-loans", "type": "clause", "offset": [1033, 1047]}, {"key": "other-indebtedness", "type": "definition", "offset": [1083, 1101]}, {"key": "notes-outstanding", "type": "clause", "offset": [1134, 1151]}, {"key": "pari-passu", "type": "clause", "offset": [1199, 1209]}, {"key": "liens-securing", "type": "clause", "offset": [1219, 1233]}, {"key": "asset-percentage", "type": "definition", "offset": [1332, 1348]}, {"key": "provided-that", "type": "definition", "offset": [1403, 1416]}, {"key": "with-respect-to", "type": "clause", "offset": [1494, 1509]}, {"key": "prior-to", "type": "clause", "offset": [1585, 1593]}, {"key": "notice-to-the-administrative-agent", "type": "clause", "offset": [1619, 1653]}, {"key": "no-event-of-default", "type": "clause", "offset": [1760, 1779]}], "snippet": "(i) Within five Business Days after the date financial statements are required to be delivered pursuant to Section 6.01(a) of the Nexstar Credit Agreement and the related Group Compliance Certificate has been delivered pursuant to Section 6.02(a) of the Nexstar Credit Agreement, the Borrower shall cause to be prepaid an aggregate principal amount of Term Loans allocated by the Nexstar Borrower to the Borrower.\n(ii) (A) Subject to Section 2.05(b)(ii)(B), if (1) any Covenant Entity Disposes of any property or assets pursuant to Section 7.05(h), (i), (n), (o)(y) (to the extent provided thereunder) or (o)(z) or (2) any Casualty Event occurs, which in the aggregate results in the realization or receipt by such Person of Net Cash Proceeds, the Borrower shall make a prepayment, in accordance with Section 2.05(b)(ii)(C), of an aggregate principal amount of Term Loans equal to the percentage represented by the quotient of (x) the Outstanding Amount of Term Loans at such time divided by (y) the sum of the Outstanding Amount of the Term Loans at such time and the amount of any other Indebtedness constituting term loans or term notes outstanding at such time that is secured by a Lien ranking pari passu with the Liens securing the Term Loans and requiring a like prepayment from such Net Cash Proceeds (such percentage, the \u201cAsset Percentage\u201d) of all such Net Cash Proceeds realized or received; provided that no such prepayment shall be required pursuant to this Section 2.05(b)(ii)(A) with respect to such portion of such Net Cash Proceeds that the Borrower shall have, on or prior to such date, given written notice to the Administrative Agent of its intent to reinvest in accordance with Section 2.05(b)(ii)(B) (which notice may only be provided if no Event of Default has occurred and is then continuing).", "hash": "e46f8ad0239fcff5530693feac827019", "id": 3}, {"size": 60, "samples": [{"hash": "eigRP6L6QkT", "uri": "/contracts/eigRP6L6QkT#mandatory-prepayment", "label": "Loan Agreement (Navios Maritime Acquisition CORP)", "score": 31.5954818726, "published": true}, {"hash": "jctdL36vvtG", "uri": "/contracts/jctdL36vvtG#mandatory-prepayment", "label": "Loan Agreement (Navios Maritime Partners L.P.)", "score": 30.9000682831, "published": true}, {"hash": "9HZj4XvRh97", "uri": "/contracts/9HZj4XvRh97#mandatory-prepayment", "label": "Loan Agreement (Navios Maritime Containers L.P.)", "score": 29.9117050171, "published": true}], "snippet_links": [{"key": "the-borrowers", "type": "definition", "offset": [0, 13]}, {"key": "the-relevant-amount", "type": "clause", "offset": [41, 60]}, {"key": "the-sale", "type": "clause", "offset": [116, 124]}, {"key": "completed-by", "type": "clause", "offset": [128, 140]}, {"key": "delivery-of-the", "type": "clause", "offset": [141, 156]}, {"key": "to-the-buyer", "type": "clause", "offset": [162, 174]}, {"key": "total-loss-date", "type": "definition", "offset": [258, 273]}, {"key": "the-security-trustee", "type": "clause", "offset": [301, 321]}, {"key": "proceeds-of-insurance", "type": "clause", "offset": [329, 350]}, {"key": "relating-to", "type": "definition", "offset": [351, 362]}, {"key": "in-this-clause", "type": "clause", "offset": [380, 394]}], "snippet": "The Borrowers shall be obliged to prepay the Relevant Amount if a Ship:\n(a) is sold, on or before the date on which the sale is completed by delivery of the Ship to the buyer; or\n(b) becomes a Total Loss, on the earlier of the date falling 90 days after the Total Loss Date and the date of receipt by the Security Trustee of the proceeds of insurance relating to such Total Loss. In this Clause 8.8:", "hash": "c1f4b1d74c2787a8bf58f02a5f15b7b0", "id": 6}, {"size": 31, "samples": [{"hash": "9iZQimANHOC", "uri": "/contracts/9iZQimANHOC#mandatory-prepayment", "label": "Credit and Security Agreement (San Holdings Inc)", "score": 21.0, "published": true}, {"hash": "8g22ZFeYfSt", "uri": "/contracts/8g22ZFeYfSt#mandatory-prepayment", "label": "Credit and Security Agreement (Meteor Industries Inc)", "score": 18.0, "published": true}, {"hash": "2iVpjbFYKOj", "uri": "/contracts/2iVpjbFYKOj#mandatory-prepayment", "label": "Intercreditor Agreement (Naco Industries Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "notice-or-demand", "type": "clause", "offset": [8, 24]}, {"key": "the-revolving-advances", "type": "clause", "offset": [66, 88]}, {"key": "at-any-time", "type": "clause", "offset": [95, 106]}, {"key": "borrowing-base", "type": "definition", "offset": [118, 132]}, {"key": "the-borrower-shall", "type": "clause", "offset": [134, 152]}, {"key": "to-the-extent", "type": "clause", "offset": [195, 208]}, {"key": "by-the-lender", "type": "clause", "offset": [266, 279]}, {"key": "section-26", "type": "clause", "offset": [312, 323]}, {"key": "the-obligations", "type": "clause", "offset": [342, 357]}, {"key": "in-its-discretion", "type": "clause", "offset": [408, 425]}, {"key": "from-time-to-time", "type": "clause", "offset": [431, 448]}], "snippet": "Without notice or demand, if the outstanding principal balance of the Revolving Advances shall at any time exceed the Borrowing Base, the Borrower shall immediately prepay the Revolving Advances to the extent necessary to eliminate such excess. Any payment received by the Lender under this Section 2.8 or under Section 2.6 may be applied to the Obligations, in such order and in such amounts as the Lender, in its discretion, may from time to time determine.", "hash": "637603d5bf4e10828ecc102126ccc95e", "id": 9}, {"size": 57, "samples": [{"hash": "4GcDGupl6Ls", "uri": "/contracts/4GcDGupl6Ls#mandatory-prepayment", "label": "Credit and Security Agreement (Digital Angel Corp)", "score": 21.0, "published": true}, {"hash": "2g0HxFTdsQo", "uri": "/contracts/2g0HxFTdsQo#mandatory-prepayment", "label": "Credit and Security Agreement (Digital Angel Corp)", "score": 21.0, "published": true}, {"hash": "tMIWozDlCk", "uri": "/contracts/tMIWozDlCk#mandatory-prepayment", "label": "Credit and Security Agreement (Metretek Technologies Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "notice-or-demand", "type": "clause", "offset": [8, 24]}, {"key": "sum-of", "type": "clause", "offset": [33, 39]}, {"key": "the-revolving-advances", "type": "clause", "offset": [77, 99]}, {"key": "at-any-time", "type": "clause", "offset": [126, 137]}, {"key": "borrowing-base", "type": "definition", "offset": [149, 163]}, {"key": "the-borrower-shall", "type": "clause", "offset": [165, 183]}, {"key": "to-the-extent", "type": "clause", "offset": [237, 250]}, {"key": "prepayment-in-full", "type": "clause", "offset": [299, 317]}, {"key": "pay-to", "type": "definition", "offset": [386, 392]}, {"key": "immediately-available-funds", "type": "clause", "offset": [407, 434]}, {"key": "special-account", "type": "clause", "offset": [454, 469]}, {"key": "equal-to", "type": "definition", "offset": [480, 488]}, {"key": "by-the-lender", "type": "clause", "offset": [532, 545]}, {"key": "the-obligations", "type": "clause", "offset": [610, 625]}, {"key": "in-its-discretion", "type": "clause", "offset": [676, 693]}, {"key": "from-time-to-time", "type": "clause", "offset": [699, 716]}], "snippet": "Without notice or demand, if the sum of the outstanding principal balance of the Revolving Advances plus the L/C Amount shall at any time exceed the Borrowing Base, the Borrower shall (i) first, immediately prepay the Revolving Advances to the extent necessary to eliminate such excess; and (ii) if prepayment in full of the Revolving Advances is insufficient to eliminate such excess, pay to the Lender in immediately available funds for deposit in the Special Account an amount equal to the remaining excess. Any payment received by the Lender under this Section 2.13 or under Section 2.12 may be applied to the Obligations, in such order and in such amounts as the Lender, in its discretion, may from time to time determine.", "hash": "995964bb380c864addc06cebe55b5561", "id": 7}, {"size": 64, "samples": [{"hash": "brZDK4GVBR5", "uri": "/contracts/brZDK4GVBR5#mandatory-prepayment", "label": "Revolving Credit and Security Agreement (Golub Capital BDC 4, Inc.)", "score": 34.7002067566, "published": true}, {"hash": "8sUTdcYDraF", "uri": "/contracts/8sUTdcYDraF#mandatory-prepayment", "label": "Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp)", "score": 34.7002067566, "published": true}, {"hash": "f3kL3sQ5nfk", "uri": "/contracts/f3kL3sQ5nfk#mandatory-prepayment", "label": "Revolving Credit and Security Agreement (Golub Capital Direct Lending Corp)", "score": 34.2731018066, "published": true}], "snippet_links": [{"key": "principal-obligations", "type": "definition", "offset": [22, 43]}, {"key": "available-commitment", "type": "definition", "offset": [55, 75]}, {"key": "for-any-reason", "type": "clause", "offset": [76, 90]}, {"key": "each-case", "type": "definition", "offset": [106, 115]}, {"key": "without-limitation", "type": "clause", "offset": [116, 134]}, {"key": "capital-call", "type": "definition", "offset": [153, 165]}, {"key": "exclusion-event", "type": "definition", "offset": [170, 185]}, {"key": "an-investor", "type": "definition", "offset": [187, 198]}, {"key": "defaulting-investor", "type": "clause", "offset": [210, 229]}, {"key": "a-change-in", "type": "definition", "offset": [231, 242]}, {"key": "the-fair-market-value", "type": "clause", "offset": [243, 264]}, {"key": "eligible-asset", "type": "definition", "offset": [272, 286]}, {"key": "an-eligible", "type": "clause", "offset": [328, 339]}, {"key": "borrower-or-borrowers", "type": "definition", "offset": [404, 425]}, {"key": "equal-to", "type": "definition", "offset": [489, 497]}, {"key": "administrative-agent", "type": "definition", "offset": [558, 578]}, {"key": "benefit-of-the-lenders", "type": "clause", "offset": [588, 610]}, {"key": "immediately-available-funds", "type": "clause", "offset": [615, 642]}, {"key": "subject-to", "type": "definition", "offset": [735, 745]}, {"key": "required-payment-time", "type": "definition", "offset": [862, 883]}, {"key": "upon-demand", "type": "clause", "offset": [1128, 1139]}, {"key": "to-pay", "type": "clause", "offset": [1453, 1459]}, {"key": "time-period", "type": "clause", "offset": [1531, 1542]}, {"key": "capital-account", "type": "definition", "offset": [1682, 1697]}, {"key": "asset-account", "type": "definition", "offset": [1709, 1722]}, {"key": "capital-contributions", "type": "clause", "offset": [1728, 1749]}, {"key": "satisfied-in-full", "type": "definition", "offset": [1885, 1902]}, {"key": "obligations-outstanding", "type": "clause", "offset": [1939, 1962]}, {"key": "necessary-for", "type": "definition", "offset": [1993, 2006]}, {"key": "the-borrowers", "type": "definition", "offset": [2007, 2020]}, {"key": "compliance-with-section", "type": "clause", "offset": [2030, 2053]}, {"key": "funds-by", "type": "definition", "offset": [2206, 2214]}], "snippet": "(i) If on any day the Principal Obligations exceed the Available Commitment for any reason (including, in each case without limitation, as a result of a Capital Call, an Exclusion Event, an Investor becoming a Defaulting Investor, a change in the Fair Market Value of any Eligible Asset or any failure of an Asset to constitute an Eligible Asset) (any such excess, an \u201cOveradvance\u201d), then the applicable Borrower or Borrowers shall (i) if the amount of such Overadvance is greater than or equal to $500,000, either pay the full amount of such Overadvance to Administrative Agent, for the benefit of the Lenders, in immediately available funds, without demand, or otherwise eliminate such Overadvance (by such other means that shall be subject to Administrative Agent\u2019s consent, which shall not be unreasonably withheld or delayed), in each case on or before the Required Payment Time after the occurrence of such Overadvance, and (ii) if the amount of such Overadvance is less than $500,000, either pay the full amount of such Overadvance to Administrative Agent, for the benefit of the Lenders, in immediately available funds, upon demand by Administrative Agent, or otherwise eliminate such Overadvance (by such other means that shall be subject to Administrative Agent\u2019s consent, which shall not be unreasonably withheld or delayed), in each case on or before the Required Payment Time after such demand. If the applicable Borrower or Borrowers fail to pay or eliminate any Overadvance required to be paid under, and within the time period set forth in, this Section 3.4(b), then such Borrower or Borrowers hereby agree that Administrative Agent may withdraw from the applicable Capital Account and/or the Asset Account, any Capital Contributions or other monies or sums deposited therein and apply the same to the Principal Obligations until such time as such Overadvance has been satisfied in full.\n(ii) If, on any day, the Principal Obligations outstanding on such day exceed the amount necessary for the Borrowers to be in compliance with Section 9.27, then the Borrowers shall pay without further demand such excess to Administrative Agent, for the benefit of the Lenders, in immediately available funds by the Required Payment Time.", "hash": "07936609ec753acee98e9b3a6dadb422", "id": 5}, {"size": 27, "samples": [{"hash": "7TvaMrf5myR", "uri": "/contracts/7TvaMrf5myR#mandatory-prepayment", "label": "Loan Agreement (Diana Shipping Inc.)", "score": 27.2368240356, "published": true}, {"hash": "fh8dtIOaq9H", "uri": "/contracts/fh8dtIOaq9H#mandatory-prepayment", "label": "Loan Agreement (Tsakos Energy Navigation LTD)", "score": 19.0, "published": true}, {"hash": "1owvDlhZavE", "uri": "/contracts/1owvDlhZavE#mandatory-prepayment", "label": "Loan Agreement (Tsakos Energy Navigation LTD)", "score": 19.0, "published": true}], "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-loan", "type": "clause", "offset": [53, 61]}, {"key": "in-the-case", "type": "clause", "offset": [111, 122]}, {"key": "the-sale", "type": "clause", "offset": [165, 173]}, {"key": "completed-by", "type": "clause", "offset": [177, 189]}, {"key": "delivery-of-the", "type": "clause", "offset": [190, 205]}, {"key": "to-the-buyer", "type": "clause", "offset": [211, 223]}, {"key": "total-loss-date", "type": "definition", "offset": [315, 330]}, {"key": "receipt-by-the-lender", "type": "clause", "offset": [347, 368]}, {"key": "proceeds-of-insurance", "type": "clause", "offset": [376, 397]}, {"key": "relating-to", "type": "definition", "offset": [398, 409]}], "snippet": "The Borrower shall be obliged to prepay the whole of the Loan if the Ship is sold or becomes a Total Loss:\n(a) in the case of a sale, on or before the date on which the sale is completed by delivery of the Ship to the buyer; or\n(b) in the case of a Total Loss, on the earlier of the date falling 150 days after the Total Loss Date and the date of receipt by the Lender of the proceeds of insurance relating to such Total Loss.", "hash": "8a3e1e68e23c6e209efeca119964c878", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1tYW5kYXRvcnktcHJlcGF5bWVudCMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"size": 4429, "children": [["excess-loans-outstanding", "Excess Loans Outstanding"], ["excess-letters-of-credit-outstanding", "Excess Letters of Credit Outstanding"], ["", ""], ["change-of-control", "Change of Control"], ["application-of-mandatory-prepayments", "Application of mandatory prepayments"]], "parents": [["prepayments", "Prepayments"], ["prepayment", "Prepayment"], ["miscellaneous", "Miscellaneous"], ["the-loans", "The Loans"], ["repayment-and-prepayment", "Repayment and Prepayment"]], "title": "Mandatory Prepayment", "id": "mandatory-prepayment", "related": [["mandatory-prepayments", "Mandatory Prepayments", "<strong>Mandatory Prepayments</strong>"], ["mandatory-prepayment-of-loans", "Mandatory Prepayment of Loans", "<strong>Mandatory Prepayment</strong> of Loans"], ["waivable-mandatory-prepayment", "Waivable Mandatory Prepayment", "Waivable <strong>Mandatory Prepayment</strong>"], ["mandatory-prepayments-of-loans", "Mandatory Prepayments of Loans", "<strong>Mandatory Prepayments</strong> of Loans"], ["mandatory-prepayments-commitment-reductions", "Mandatory Prepayments Commitment Reductions", "<strong>Mandatory Prepayments</strong> Commitment Reductions"]], "related_snippets": [], "updated": "2026-07-04T04:24:40+00:00", "also_ask": ["What negotiation levers exist to limit or trigger mandatory prepayment obligations?", "Which carve-outs or exceptions are essential to include for borrower protection?", "What are the most common pitfalls that render mandatory prepayment clauses unenforceable?", "How do mandatory prepayment provisions differ across jurisdictions or financing types?", "What evidence is typically required in court to enforce a mandatory prepayment clause?"], "drafting_tip": "Specify triggering events, detail calculation methods, and set payment timelines to ensure clarity, prevent disputes, and facilitate timely compliance.", "explanation": "A Mandatory Prepayment clause requires the borrower to repay part or all of a loan before its scheduled maturity upon the occurrence of certain specified events. Typically, these events include asset sales, receipt of insurance proceeds, or excess cash flow, which trigger an obligation to use the resulting funds to reduce the outstanding loan balance. The core function of this clause is to protect the lender by ensuring that unexpected inflows or changes in the borrower's financial situation are used to decrease credit risk and accelerate loan repayment."}, "json": true, "cursor": ""}}