Required Prepayment Sample Clauses
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Required Prepayment. Whenever the aggregate amount of outstanding Advances exceeds the Maximum Total Amount, the Borrower shall immediately pay such amounts as may be necessary to cause the aggregate principal amount of outstanding Advances to be equal to or less than the Maximum Total Amount in accordance with Section 2.01(b). Whenever the amount outstanding under any individual Revolving Credit Note exceeds the maximum amount permitted to be outstanding under such Revolving Credit Note, the Borrower shall immediately pay to Agent for the account of the respective Lender such amounts as may be necessary to cause the principal amount outstanding under such Revolving Credit Note to be equal to or less than the maximum permitted amount. Whenever the amount outstanding under the Swing Line Note exceeds the maximum amount permitted to be outstanding under the Swing Line Loan, the Borrower shall immediately pay to the Agent such amounts as may be necessary to cause the principal amount outstanding under the Swing Line Note to be equal to or less than the maximum amount permitted to be outstanding under the Swing Line Loan. Whenever the issuance of any Letter of Credit exceeds the Letter of Credit Subcommitment, the Borrower shall immediately take such action as required by Agent to reduce the face amount of outstanding Letters of Credit to an amount equal to or less than the Letter of Credit Subcommitment.
Required Prepayment. On or before the date which is one hundred fifteen (115) days after each Fiscal Year of the Borrower (or the date when Borrower delivers the annual financial statements for such Fiscal Year pursuant to Section 9.1(a) if sooner), commencing with Fiscal Year 2002, the Borrower shall make a prepayment of the Term Loans in an amount equal to the following percentages of the Borrower's Excess Cash Flow calculated for the most recently ended Fiscal Year: (1) twenty-five percent (25%) for Fiscal Year 2002, (2) thirty-five percent (35%) for Fiscal Year 2003, and (3) fifty percent (50.0%) for each Fiscal Year thereafter.
Required Prepayment. The Borrower shall make a prepayment of the Loans in the amount of the Net Cash Proceeds received from the following:
(1) any disposition of assets pursuant to the permissions set forth in subsections 10.8(e), (f), (g), or (h); or
(2) any disposition of an asset pursuant to the permissions set forth in subsection 10.8(b) if the Net Cash Proceeds from such disposition equal or exceed Fifty Thousand Dollars ($50,000); or
(3) any income tax refund received by Borrower (other than any such refund reflected as being due to Borrower on any return and which is elected to be applied to the following year's estimated tax liability payments of the Borrower and it Subsidiaries, if any). The Net Cash Proceeds from any asset disposition of the type described in the foregoing clauses (1) or (2) shall be delivered by the Borrower to the Agent, within two (2) Business Days after the receipt thereof. The Net Cash Proceeds from any income tax refund shall be delivered by the Borrower to the Agent, within two (2) Business Days after the receipt thereof.
Required Prepayment. The Notes are subject to prepayment in the amount, at the times and subject to the conditions set forth in the form of Note attached as Exhibit A hereto. Any such prepayment will be divided among the Holders pro rata based on their beneficial interests in the Notes subject to rounding to allow for remaining interests of each Holder to continue in increments of $100 and multiples thereof.
Required Prepayment. A new Section 2(e)(iii) shall be added to the Agreement as follows:
Required Prepayment. Upon the occurrence of an Event of Default, at Lender’s option, all of the Obligations shall be payable immediately in cash or on such other terms as Lender may require.
Required Prepayment. In the event that (1) more than $100,000 of the Equipment to which Advance Payments relate is deemed first placed in service during a calendar quarter, or (2) any Equipment to which Advance Payments relate is deemed first placed in service during a calendar year, then, on the final day of each such calendar quarter or calendar year, as the case may be, Maker shall prepay an amount of Principal, together with accrued and unpaid interest thereon at the applicable rate aforesaid, which equals the cost of such Equipment. Holder shall apply, and Maker directs Holder to apply, the proceeds of the Lease to such prepayment, in accordance with and subject to the terms and conditions of the Funding Agreement dated as of May 12, 1997.
Required Prepayment. If a Change in Control (as hereinafter defined) occurs, the Holder may, by notice to the Company given not later than the date 10 days after the date the Company has notified the Holder of such Change in Control, require the prepayment of the entire unpaid Principal Amount of this Debenture and all accrued but unpaid interest thereon; whereupon the Company shall, on the date 10 days after the date such notice is given by the Holder, prepay this Debenture. The Company shall give the Holder notice of the occurrence of any Change in Control not later than 10 days after such Change in Control occurred.
Required Prepayment. Notwithstanding any other provision of this Note, the Maker shall be required to prepay an amount equal to the net proceeds from any sale of debt or equity securities of Maker after the date hereof. Such prepayment(s) shall be required to be made within five (5) days after each such sale. The Payee shall have the right to require that this Note be prepaid in full (i) upon the sale, transfer or other disposition by Maker of all or substantially all of its property, assets or business or (ii) upon any merger, reorganization or consolidation in which Maker is not the resulting or surviving entity or (iii) upon any merger, reorganization, sale of stock or other similar event pursuant to which the current owners of the stock of Maker cease to own less than fifty (50%) percent of the voting stock of Maker.
Required Prepayment. The Borrower shall ------------------- make a prepayment of the Loans in the amount of the Net Cash Proceeds received from the following:
(1) any disposition of assets pursuant to the permissions set forth in subsections 10.8(e), (f), (g), or (h);
(2) any disposition of an asset pursuant to the permissions set forth in subsection 10.8(b) if the Net Cash Proceeds from such disposition equal or exceed Fifty Thousand Dollars ($50,000);
(3) any income tax refund received by Borrower (other than any such refund reflected as being due to Borrower on any return and which is elected to be applied to the following year's estimated tax liability payments of the Borrower and it Subsidiaries, if any); or
(4) any return of cash collateral, refund of premiums or other amounts received by the Borrower or any of its Subsidiaries from and after the Closing Date from St. ▇▇▇▇ Fire and Marine Insurance Company (or an Affiliate thereof) in connection with the insurance policies which expired March 31, 2002 and related claims. The Net Cash Proceeds from any asset disposition of the type described in the foregoing clauses (1) or (2) shall be delivered by the Borrower to the Agent, within two (2) Business Days after the receipt thereof. The Net Cash Proceeds from any income tax refund shall be delivered by the Borrower to the Agent, within two (2) Business Days after the receipt thereof. The Net Cash Proceeds from any amount of the type described in the foregoing clause (4) shall be delivered by the Borrower (or applicable Subsidiary) to the Agent within two (2) Business Days after the receipt thereof.