Mandatory Prepayments Commitment Reductions Sample Clauses
Mandatory Prepayments Commitment Reductions. (a) No later than the tenth calendar day following the date of receipt by any Obligor or any of its Restricted Subsidiaries of any Net Asset Sale Cash Proceeds from any Asset Sale, the Company shall apply all such Net Asset Sale Cash Proceeds to repay any outstanding Loans as set forth in Section 2.13(a); provided that, if the Borrower provides written notice to the Administrative Agent within seven calendar days of the date any such Net Asset Sale Cash Proceeds are so received of its intention to undertake such an investment, then so long as no Event of Default shall have occurred and be continuing, the Company shall have the option, directly or indirectly or through one or more of its Restricted Subsidiaries, to invest such Net Asset Sale Cash Proceeds within twelve months of receipt thereof in assets of the general type used in the business of the Parent and its Restricted Subsidiaries; provided, further, that, if any portion of such Net Asset Sale Cash Proceeds have not been so reinvested at the end of such twelve-month period, the Borrower shall apply an amount equal to the amount of Net Asset Sale Cash Proceeds that have not been so reinvested as set forth in Section 2.13(a).
(b) No later than the tenth Business Day following the date of receipt by any Obligor or any of its Restricted Subsidiaries of any Net Equity Issuance Event Cash Proceeds from any Equity Issuance Event, the Company shall apply 33% of all such Net Equity Issuance Event Cash Proceeds (such amount, the “Equity Prepayment Amount”) to repay any outstanding Loans as set forth in Section 2.13(a), and each such prepayment shall be accompanied by a permanent reduction of the Revolving Commitments in an amount equal to such Equity Prepayment Amount.
(c) If at any time, the Aggregate Total Exposure exceeds the aggregate Revolving Commitments then in effect, the Borrower shall forthwith prepay first, Loans, and second Cash Collateralize the outstanding amount of Letter of Credit Usage at the Agreed L/C Cash Collateral Amount, to the extent necessary so that the Aggregate Total Exposure shall not exceed the Revolving Commitments then in effect (or, in the case of Letter of Credit Usage, such amounts are fully Cash Collateralized in compliance with the Agreed Cash Collateral Amount).
(d) If, after giving effect to any termination of or reduction of the Revolving Commitments, the Letter of Credit Sublimit exceeds the amount of the Revolving Commitments, such sublimit shall be automatically red...
Mandatory Prepayments Commitment Reductions. 68 2.13 Application of Prepayments/Reductions ..............................................70 2.14 Allocation of Certain Payments and Proceeds.........................................71 2.15
Mandatory Prepayments Commitment Reductions. (a) [Reserved.]
(b) [Reserved.]
Mandatory Prepayments Commitment Reductions. 40 ---- -------------------------------------------- 2.13. Application of Prepayments/Reductions. ................................... 41 ---- -------------------------------------- 2.
Mandatory Prepayments Commitment Reductions. (i) The Borrower shall immediately prepay the outstanding principal amount of the Advances (exclusive of undrawn Letters of Credit) in accordance with Section 2.3 on any date on which the Outstandings exceed the Facility Limit in effect at such time, in the amount of such excess.
(ii) The Borrower shall immediately prepay to the Swing Line Lender the outstanding principal amount of the Swing Line Advances on any date on which the aggregate outstanding principal amount of such Swing Line Advances exceed the Swing Line Commitment in effect at such time, in the amount of such excess.
(b) If, at any time, the Outstandings exceed the Borrowing Base as set forth in the Borrower's most recent Borrowing Base Certificate required to be delivered pursuant to Section 5.14 below (such amount is hereinafter referred to as the "Borrowing Base Excess"), then the Borrower shall immediately prepay the Advances (exclusive of undrawn Letters of Credit) in an aggregate amount equal to such Borrowing Base Excess. At the time of such required prepayment, the Borrower shall cash collateralize Letters of Credit, on terms satisfactory to the Administrative Agent, in the amount, if any, by which the Borrowing Base Excess exceeds the amount of non-
Mandatory Prepayments Commitment Reductions. (a) No later than the third Business Day following the date of receipt by the Borrower or any of its Subsidiaries of any Cash proceeds from (x) a capital contribution to, or (y) the issuance of any Capital Stock of, the Borrower or such Subsidiary (but excluding any issuance by a Subsidiary of the Borrower to the Borrower or to a wholly-owned Subsidiary of the Borrower, and any capital contribution by the Borrower or a Subsidiary of the Borrower to a wholly-owned Subsidiary of the Borrower), the Borrower shall prepay the Loans and/or the Commitments shall be permanently reduced as set forth in Section 2.4B(iii) in an aggregate amount equal to 100% of such proceeds, net of commissions and other reasonable costs and expenses associated therewith, including reasonable legal fees and expenses.
(b) Concurrently with any prepayment of the Loans and/or reduction of the Commitments pursuant to Sections 2.4B(ii)(a), the Borrower shall deliver to the Administrative Agent an Officers' Certificate demonstrating the calculation of the amount of the applicable net proceeds. In the event that the Borrower shall subsequently determine that the actual amount of net proceeds exceeded the amount set forth in such certificate, the Borrower shall promptly make an additional prepayment of the Loans and/or the Commitments shall be permanently reduced in an amount equal to such excess, and the Borrower shall concurrently therewith deliver to the Administrative Agent an Officers' Certificate demonstrating the derivation of such excess.
Mandatory Prepayments Commitment Reductions. Prior to the Payment-In-Full of First Lien Obligations, the Lenders agree that the mandatory prepayments and commitment reductions set forth in Section 2.12 (a) through (g) of this Agreement and the provisions relating to Preliminary IP Event Prepayments shall not apply to the Term Loans except to the extent permitted by Section 2.13(c) of the First Lien Credit Agreement or any similar provision in any Refinancing thereof; provided, that if so permitted, the subject mandatory prepayment shall be payable to the Lenders hereunder as set forth in relevant subsection of Section 2.12 below or, if applicable, Schedule 8.1(n) and the relevant provisions of Section 2.13 and 2.14 shall be applicable thereto. Notwithstanding the foregoing, immediately upon Payment-In-Full of First Lien Obligations, the mandatory prepayment and commitment reduction provisions set forth below and, if applicable, Schedule 8.1(n) shall apply to the Loans hereunder, and such amounts shall be due and payable to the Lenders in accordance with the terms hereof.
Mandatory Prepayments Commitment Reductions. Subject in all cases to Section 2.14(g):
Mandatory Prepayments Commitment Reductions. 57 2.14 Application of Prepayments and Reductions of Commitments ....
Mandatory Prepayments Commitment Reductions. Subject to the provisions of the Intercreditor Agreement and the European Intercreditor Agreement, the Loans shall be repaid (or cash collateral shall be provided in respect of Letters of Credit) in the manner provided in Sections 2.14(a) through (g) below.