Deemed Prepayment definition
Deemed Prepayment means, with respect to any Excess Net Cash Payments from any Disposition or Asset Swap or any excess Net Cash Payments resulting from any Casualty Event, the aggregate amount offered by the Borrower to prepay the Term Loans under the Term Loan Agreement with or with respect to such Excess Net Cash Payments or excess Net Cash Payments, as applicable (whether or not the Term Loan Lenders have accepted any such offer) if at the time of such offer to prepay (and after giving effect to all prepayments of the Revolving Credit Loans (and coverage of LC Exposure) (accompanied by a permanent reduction of Revolving Credit Commitments to the extent such prepayment has been made with such Excess Net Cash Payments under Section 2.11(b)(i) or excess Net Cash Payments under Section 2.11(b)(ii), as applicable) on or prior to such date of offer to prepay), the aggregate Revolving Credit Exposure is $0.
Deemed Prepayment has the meaning specified in Section 2.05(d)(i).
Examples of Deemed Prepayment in a sentence
EXCHANGE OF NOTES 5 Section 3.1. Issuance of Notes 5 Section 3.2. Form and Registration 5 Section 3.3. Delivery of Notes 5 Section 3.4. Exchange Not Deemed Prepayment 5 SECTION 4.