Common use of Mandatory Repayment from Excess Proceeds Clause in Contracts

Mandatory Repayment from Excess Proceeds. In the event proceeds remain after the prepayments of Term Loan Facility pursuant to Section 4.4(b)(i) and (ii), an amount equal to such excess proceeds shall be used on the date of the required prepayment under Section 4.4(b)(i) and (ii) to prepay the outstanding principal amount of the Revolving Credit Loans, without a corresponding reduction of the Revolving Credit Commitment with the remaining balance, if any, to be retained by the Borrower.

Mandatory Repayment from Excess Proceeds. In the event proceeds remain after the prepayments of Term Loan Facility pursuant to Section 4.4(b)(i) and (ii), an the amount equal to of such excess proceeds shall be used on the date of the required prepayment under Section 4.4(b)(i) and (ii) to prepay the outstanding principal amount of the Revolving Credit Loans, without a corresponding reduction of the Revolving Credit Commitment with the remaining balance, if any, to be retained by the BorrowerCommitment.

Mandatory Repayment from Excess Proceeds. In the event proceeds remain after the prepayments of the Term Loan Facility pursuant to Section 4.4(b)(i) and (ii4.4(b), an the amount equal to of such excess proceeds shall be used on the date of the required prepayment under Section 4.4(b)(i) and (ii4.4(b) to prepay the outstanding principal amount of the Revolving Credit Loans, without a corresponding reduction of the Revolving Credit Commitment with the remaining balance, if any, to be retained by the BorrowerCommitment.