Mandatory Repayment of Revolving Credit Loans. If at any time the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Loans and L/C Obligations exceeds the Revolving Credit Commitment, the Borrower shall repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Advances in an amount equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans, second to the principal amount of outstanding Revolving Credit Loans and third, with respect to any Letters of Credit then outstanding, a payment of cash collateral into a cash collateral account opened by the Administrative Agent, for the benefit of the Lenders in an amount equal to the aggregate then undrawn and unexpired amount of such Letters of Credit (such cash collateral to be applied in accordance with Section 12.2(b)).
Mandatory Repayment of Revolving Credit Loans. If on any date the aggregate amount of the Lenders’ Revolving Credit Exposures (all the foregoing, collectively, the “Aggregate Revolving Credit Outstandings”) exceeds 100% of the Total Revolving Credit Commitment as then in effect, the Borrower shall forthwith repay on such date the principal amount of Revolving Credit Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Revolving Credit Loans, the Aggregate Revolving Credit Outstandings exceed the Total Revolving Credit Commitment then in effect, the Borrower shall pay to the Administrative Agent an amount in cash equal to such excess and the Administrative Agent shall hold such payment for the benefit of the Lenders as security for the obligations of the Borrower hereunder (including obligations in respect of Letters of Credit Outstanding) pursuant to a cash collateral agreement to be entered into in form and substance satisfactory to the Administrative Agent (which shall permit certain Investments in Permitted Investments satisfactory to the Administrative Agent, until the proceeds are applied to the secured obligations) (a “Cash Collateral Agreement”).
Mandatory Repayment of Revolving Credit Loans. If on any date the aggregate amount of the Lenders’ Revolving Credit Exposures (all the foregoing, collectively, the “Aggregate Revolving Credit Outstandings”) exceeds 100% of the Total Revolving Credit Commitment as then in effect, the Borrower shall forthwith repay on such date the principal amount of Revolving Credit Loans in an amount equal to such excess. If, after giving effect to the prepayment of all outstanding Revolving Credit Loans, the Aggregate Revolving Credit Outstandings exceed the Total Revolving Credit Commitment then in effect, the Borrower shall pay to the Administrative Agent an amount in cash equal to such excess and the Administrative Agent shall hold such payment for the benefit of the Lenders as security for the obligations of the Borrower hereunder (including obligations in respect of Letters of Credit Outstanding) pursuant to a cash collateral agreement to be entered into in form and substance satisfactory to the Administrative Agent (which shall permit certain Investments in Permitted Investments satisfactory to the Administrative Agent, until the proceeds are applied to the secured obligations) (a “Cash Collateral Agreement”). For the avoidance of doubt, in the case of an excess caused by the expiration, termination or reduction of the Non-Extended Revolving Credit Commitments (whether on the Non-Extended Revolving Credit Maturity Date, the Reallocation Date or any earlier date), such repayment or cash collateralization shall be made not later than such Maturity Date or earlier date (and, in any event, prior to or substantially concurrently with any reallocation contemplated by the last sentence of Section 3.3(b)).
Mandatory Repayment of Revolving Credit Loans. In addition to payments in respect of Revolving Credit Loans pursuant to § 2.6, the Revolving Credit Loans shall be repaid as follows:
Mandatory Repayment of Revolving Credit Loans. In the event that (i) the Lenders shall make any Revolving Credit Loans, (ii) the Swingline Lender shall make any Swingline Loan, (iii) the Administrative Agent shall make any Agent Advances or (iv) the Issuing Lender shall issue any Letter of Credit, which, in any such case, gives rise to an Overadvance, the Borrowers shall make, on demand, a payment on the Obligations to be applied to the Revolving Credit Loans, the Swingline Loans, the Agent Advances and as cash collateral for such Letter of Credit, as appropriate, in an aggregate principal amount equal to such Overadvance.
Mandatory Repayment of Revolving Credit Loans. (i) If at any time the outstanding principal amount of all Revolving Credit Loans plus the sum of all outstanding Swingline Loans and L/C Obligations exceeds the Revolving Credit Commitment, the Borrowers shall repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Lenders, Extensions of Credit in an amount equal to such excess with each such repayment applied first to the principal amount of outstanding Swingline Loans and second to the principal amount of outstanding Revolving Credit Loans and, if necessary, to cash collateralize any outstanding Letters of Credit in accordance with Section 12.2(b).
Mandatory Repayment of Revolving Credit Loans. (i) If at any time the Asset Coverage Ratio as set forth on the most recently delivered Borrowing Base Certificate and adjusted on a pro forma basis for all Extensions of Credit made and/or repaid since the date of the financial information used to determine such Asset Coverage Ratio is less than 1.00 to 1.00, the Borrower agrees to immediately repay the principal amount of outstanding Revolving Credit Loans in an amount sufficient to cause the Asset Coverage Ratio (determined on a pro forma basis after giving effect to such payment) to equal or exceed 1.00 to 1.00.
Mandatory Repayment of Revolving Credit Loans. (i) If at any time the Aggregate Revolving A Credit Exposure exceeds 105% (or if none of such Aggregate Revolving A Credit Exposure is denominated in Euros, Sterling or any Optional Currency, 100%) of the Aggregate Revolving A Commitment, the relevant Borrower or Borrowers agree immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Revolving A Lenders, to repay Revolving A Credit Loans or Swingline Loans and/or furnish cash collateral as described in Section 2.4(b)(iii), in the Dollar Equivalent of the amount of such excess without premium or penalty; provided that any repayment of LIBOR Rate Loans pursuant to this Section 2.4(b)(i) other than on the last day of the Interest Period applicable thereto shall be accompanied by any amount required to be paid pursuant to Section 4.8.
Mandatory Repayment of Revolving Credit Loans. If at any time the sum of (A) the aggregate principal amount of all Revolving Credit Loans outstanding at such time plus (B) the aggregate principal amount of all Swingline Loans outstanding at such time plus (C) the aggregate L/C Obligations outstanding at such time shall exceed the Borrowing Limit at such time, the Borrowers shall repay immediately upon notice from the Administrative Agent, by payment to the Administrative Agent for the account of the Swingline Lender or Lenders, as applicable, Revolving Credit Loans, Swingline Loans and/or furnishing cash collateral reasonably satisfactory to the Administrative Agent or repay the L/C Obligations in an amount equal to such excess with each such repayment applied first to the principal amount of the outstanding Swingline Loans and second to the principal amount of the L/C Obligations and third to the principal amount of outstanding Revolving Credit Loans. Such cash collateral shall be applied in accordance with Section 12.2(b). Each such repayment shall be accompanied by any amount required to be paid pursuant to Section 5.9 hereof.
Mandatory Repayment of Revolving Credit Loans. The Borrower shall apply the proceeds of the Management Cash Reserve received pursuant to the terms of SECTION 4.4(b) to repay outstanding Liquidity Loans, if any, and then any remaining amounts shall be applied to repayment of any outstanding Revolving Credit Loans that are not Liquidity Loans.
