Paydown. In the event that the aggregate principal amount of Loans outstanding at any time exceeds the Loan Formula set forth above, the Borrower agrees that it shall immediately upon demand pay over the amount of the excess to the Bank as and for a mandatory prepayment on such Loans.
Paydown. Without the prior written consent of Bank, Obligor will ------- not sell or otherwise dispose of any of the Equipment without paying to Bank, in reduction of the Obligations, an amount equal to the greatest of book value, appraised value or sales price of the Equipment sold or disposed of.
Paydown. Payment of a paydown of the principal of the Revolving Loan in an amount equal to $1,500,000, in immediately available funds, which shall not be available for re-borrowing; provided, that $500,000 of the paydown shall come as proceeds of new Intercompany Debt from Parent, on terms and conditions reasonably satisfactory to the Lender.
Paydown. Regardless of the terms of the Revolving Credit Facility, if at any time the aggregate amount of outstanding loans under the Revolving Credit Facility exceeds the aggregate Loan Value of the Used RVs and New Motor Coaches, Dealer will immediately repay to DFS, as a reduction of Dealer's outstanding loans under the Revolving Credit Facility, the difference between (i) such aggregate amount of outstanding loans under the Revolving Credit Facility, and (ii) the aggregate Loan Value. Upon the effective date of termination of the Agreement, Dealer will immediately repay to DFS all amounts due under the Revolving Credit Facility.
Paydown. As a condition to the effectiveness of this Amendment, Borrower shall pay to FINOVA an amount equal to the amount by which the current outstanding Obligations exceed $5,050,000. Such sums shall be paid to FINOVA on the date hereof.
Paydown. During each month, Company shall cause the aggregate amount of the Advances under this Agreement and the credit extensions under the Canada Agreement to be less than Fifteen Million Dollars ($15,000,000) for at least five (5) consecutive Business Days.
Paydown. Provided HCRI has agreed to the sequence, at the time of the purchase or paydown of any one but not all of the Financed Properties in Tranche 1, Obligor shall in addition to the Prepayment Amount pay an additional amount equal to ten percent (10%) of the then outstanding Lease Amount for all Financed Properties ("Paydown Amount"). The Paydown Amount shall be applied by HCRI to the then outstanding Lease or Loan Amounts in HCRI's sole discretion.
Paydown. During each month, Borrower shall cause the aggregate amount of the Revolving Loans under this Agreement and the credit extensions under the Tecstar Credit Agreement to be less than U.S. $15,000,000 for at least five (5) consecutive Business Days.
Paydown. Net availability after today’s request (O) The undersigned represents and warrants that (a) the information set forth above has been prepared in accordance with the requirements of that certain Credit Agreement dated as of April 10, 2008 (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”) between, among others, (i) rue21, inc., as lead borrower (in such capacity, the “Lead Borrower”) for itself and the other Borrowers party thereto, (ii) the Borrowers party thereto, (iii) r services llc and the other Guarantors party thereto, (iv) Bank of America, N.A., as Administrative Agent, Collateral Agent and Swing Line Lender, and (iv) the Lenders party thereto, and is based upon supporting documentation that is satisfactory to the Agent; (b) no “Default” (as defined in the Credit Agreement) is presently In existence; and (c) all or a portion of the advance requested hereby will be set aside by the Loan Parties to cover 100% of the Loan Parties’ obligation for sales tax on account of sales since the most recent borrowing under the Credit Agreement. EXHIBIT G FORM OF CREDIT CARD NOTIFICATION CREDIT CARD NOTIFICATION PREPARE ON BORROWER/LOAN PARTY LETTERHEAD - ONE FOR EACH PROCESSOR April , 2008 To: [Name and Address of Credit Card Processor] (the “Processor”) Re: rue21, inc. Merchant Account Number: Dear Sir/Madam: RUE21, INC., a Pennsylvania corporation (the “Borrower”), has entered into various financing agreements with BANK OF AMERICA, N.A., a national banking association with offices at 100 Federal Street, 9th Floor, Boston, Massachusetts 02110, as collateral agent (in such capacity, the “Collateral Agent”) for its own benefit and the benefit of certain other credit parties (the “Credit Parties”), pursuant to which the Collateral Agent and the other Credit Parties may from time to time make loans or furnish certain other financial accommodations to the Borrower. The Borrower’s obligations on account of such loans and financial accommodations are secured by, among other things, all credit card charges submitted by the Borrower to the Processor for processing and the amounts which the Processor owes to the Borrower on account thereof (the “Credit Card Proceeds”). Until the Processor receives written notification from the Collateral Agent that the interest of the Collateral Agent and the other Credit Parties in the Credit Card Proceeds has been terminated, all amounts as may become due from time to time from the Processor to the Borrow...
Paydown. Tenant shall have the right at any time prior to the ------- Commencement Date of the Lot 26 Lease to reimburse Landlord in cash for a portion of the Total Project Cost of Lot 26, up to a maximum of fifteen percent (15%) of the Total Project Costs for Lot 26. If Tenant elects to do so, for purposes of determining rent for Lot 26, the Total Project Costs for Lot 26 shall be reduced by the amount so paid by Tenant.
