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.
Appears in 3 contracts
Sources: Loan Authorization Agreement (Multi-Strategy Hedge Opportunities LLC), Loan Authorization Agreement (Multi-Strategy Hedge Opportunities LLC), Loan Authorization Agreement (BlackRock Multi-Strategy Hedge Opportunities LLC)