Mandatory Prepayments and Reductions of Commitments. (a) If, at any time, the aggregate principal amount of Loans outstanding exceeds the aggregate amount of the Commitments, the Borrowers will, within one (1) Business Day, prepay an amount of Loans (together with accrued interest thereon and amounts payable pursuant to Section 5.05) such that, after giving effect thereto, the aggregate principal amount of Loans outstanding to all Borrowers does not exceed such aggregate amount of the Commitments.
Mandatory Prepayments and Reductions of Commitments. (a) [Intentionally Omitted]
Mandatory Prepayments and Reductions of Commitments. The Company will apply Net Available Proceeds described in subsections (a) through (d) of this Section 2.11. as provided in subsection (e) of this Section 2.11.
Mandatory Prepayments and Reductions of Commitments. The Borrowers shall make prepayments on the Loans necessary so that on any date, the Loan to Collateral Value Ratio shall be no less than 1.00:1.00. In the event of any termination, expiration or amendment of any components of the Collar Transactions, (x) the Commitments shall be automatically reduced (such reduction to reduce the Commitment of each Bank proportionately to its Pro Rata Share) to the extent necessary so that the ratio of the Commitments to the notional value of the put options then effective and
Mandatory Prepayments and Reductions of Commitments. . . . 43
Mandatory Prepayments and Reductions of Commitments. (a) Series C Commitments. If the amount of the Series C Letter of Credit is reduced, the aggregate amount of the Series C Commitments shall automatically reduce by an equal amount. Upon the expiry or drawing under the Series C Letter of Credit, the aggregate amount of the Series C Commitments shall automatically reduce in the amount, if any, by which (i) the amount of the Series C Letter of Credit immediately prior to such expiry or drawing exceeds (ii) the amount of the drawing, if any.
Mandatory Prepayments and Reductions of Commitments. If (a) the Company shall sell, assign, transfer or otherwise dispose of all or any portion of the Preferred Stock, (b) the Administrative Agent shall sell the Preferred Stock to State Auto Mutual pursuant to the Put Agreement or (c) the Preferred Stock shall at any time be repurchased, redeemed or otherwise retired by State Auto Financial (whether pursuant to the terms of such Preferred Stock or otherwise), the Company will prepay Loans in a principal amount equal to the aggregate Redemption Value of the Preferred Stock so sold, assigned, transferred or otherwise disposed of. In addition, if the aggregate outstanding principal amount of the Loans shall at any time exceed either (i) the aggregate amount of the Commitments or (ii) the aggregate Redemption Value of the Preferred Stock issued and outstanding at such time, the Company will prepay the Loans in an amount equal to such excess. Prepayments of the Loans shall be applied to the installments of the Loans in the inverse order or the maturities of the installments thereof.
Mandatory Prepayments and Reductions of Commitments. Upon any ---------------------------------------------------- Debt Issuance or Equity Issuance, (a) the Company shall prepay the Loans, and (b) the Commitments shall be subject to automatic reduction, in either case in an aggregate amount equal to 100% of the Net Available Proceeds thereof. Any such prepayment shall be paid to the Administrative Agent for account of the Banks and shall be accompanied by the aggregate amount of accrued interest and facility fee thereon, together with any amounts payable under Section 5.05 hereof.
Mandatory Prepayments and Reductions of Commitments. (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, unless a Reinvestment Notice shall have been delivered previously to the Administrative Agent in respect thereof, such Net Cash Proceeds shall be applied on such date to the prepayment of Loans and the reduction of the Commitments as set forth in subsection 2.1.3(b); provided that on each Reinvestment Prepayment Date, an amount equal to the Reinvestment Prepayment Amount with respect to the relevant Reinvestment Event shall be applied to the prepayment of Loans and the reduction of the Commitments as set forth in subsection 2.1.3(b).
Mandatory Prepayments and Reductions of Commitments. ..14 Section 2.8
