Mandatory Repayments. 100% of the net proceeds of any sale or other disposition (including as a result of casualty or condemnation) by the Borrower or any of its subsidiaries of any assets (except for the sale of inventory in the ordinary course of business and certain other dispositions to be agreed on) shall be applied to repay the Revolving Credit Facility.
Mandatory Repayments. The net cash proceeds from any of the following (collectively, "NET PROCEEDS") will be used to repay the Bridge Loans (subject to prior mandatory prepayments on the Senior Credit Facility, if any, and certain exceptions to be agreed to in the Bridge Loan Agreement), in each case at 100% of the principal amount of the Bridge Loans repaid plus accrued and unpaid interest to the date of the repayment and any LIBOR breakage costs: (i) any direct or indirect public offering or private placement of any senior or subordinated debt or equity securities, including, without limitation, any Permanent Financings, after the Closing Date by any Obligor or any affiliate of any Obligor, (ii) any future bank borrowings by any Obligor other than under the Senior Credit Facility as in effect on the Closing Date and (iii) any future asset sales by any Obligor or any affiliate or direct or indirect subsidiary of an Obligor.
Mandatory Repayments. Mandatory repayments of Term Loans shall be required from (a) 100% of the proceeds (net of (i) taxes and costs and expenses in connection with the sale and (ii) the amount of cash necessary to (subject to the limitation on dividends referred to in the section entitled "Covenants" below) be distributed as a result of such asset sale in connection with the maintenance of the REIT (as defined in the Code (as defined in the Securities Purchase Agreement)) status of Holdings and its subsidiaries) from asset sales by Holdings and its subsidiaries (subject to reinvestment exceptions to be negotiated), (b) 100% of the net proceeds from issuances of debt (with appropriate exceptions to be mutually agreed upon) by Holdings and its subsidiaries, (c) 100% of the net proceeds from issuances of equity by, or capital contributions to Holdings and its subsidiaries (with appropriate exceptions to be mutually agreed upon), (d) 75% (subject to a step-down to 50% based on meeting a leverage test to be agreed upon and so long as no default or event of default under the Credit Facilities is in existence) of annual excess cash flow (to be defined to the satisfaction of the Agents) of Holdings and its subsidiaries (it being understood and agreed that the definition of excess cash flow shall be defined to exclude the amount of cash necessary to (subject to the limitation on dividends referred to in the section entitled "Covenants" below) be distributed in connection with the maintenance of the REIT status of Holdings and its subsidiaries) and (e) 100% of the net proceeds from insurance recovery and condemnation events of Holdings and its subsidiaries (subject to certain reinvestment rights to be negotiated). All mandatory repayments of Term Loans made pursuant to clauses (a)-(e) above shall apply to reduce future scheduled amortization payments of the Term Loans being repaid pro rata based upon the then remaining amounts of such payments. To the extent the amount of any mandatory repayment which would otherwise be required as provided above exceeds the aggregate principal amount of Term Loans then outstanding, such excess shall apply to reduce the commitments under the Revolving Loan Facility. In addition, (i) if at any time the outstandings pursuant to the Revolving Loan Facility (including Letter of Credit outstandings) exceed the aggregate commitments with respect thereto, prepayments of Revolving Loans (and/or the cash collateralization of Letters of Credit) shall be required ...
Examples of Mandatory Repayments in a sentence
Mandatory Repayments and Commitment Reductions: Same as the Existing Credit Agreement.
Any payment due by the Issuer under the Notes (including but not limited to, the payment of any Interest Payment Amounts, any Additional Remuneration (if any), any Mandatory Repayments, any payment of Principal due on the Notes following a Partial Optional Redemption pursuant to Condition 8 (c) ( Partial Optional Redemption) or the service of a Trigger Notice under Condition 11(B) (Consequences of delivery of a Trigger Notice) will be guaranteed in full by the Guarantee.
Prepayments; Repayments; Taxes 33 4.01 Voluntary Prepayments 33 4.02 Mandatory Repayments and Commitment Reductions 34 4.03 Method and Place of Payment 34 4.04 Net Payments; Taxes 35 4.05 Application of Proceeds 36 SECTION 5.
Section 2.1 Facilities 25 Section 2.2 Interest 27 Section 2.3 Warrants 27 Section 2.4 Use of Proceeds 27 Section 2.5 Reserves 28 Section 2.6 Mandatory Repayments and Prepayments 28 Section 2.7 Optional Prepayments 29 Section 2.8 Prepayment Premium 29 Section 2.9 Unused Line Fee.
The principal amounts of the Revolving Loans (reduced in connection with any voluntary or mandatory prepayments of the Revolving Loans, in accordance with Sections 2.1.10 (Voluntary Prepayments), 2.1.11 (Mandatory Repayments and Commitment Reductions) and Section 5.7 (Asset Sales; Application of Net Proceeds), as applicable) shall be repaid from time to time in the discretion of the Borrower, but in any event in full on the Maturity Date.
More Definitions of Mandatory Repayments
Mandatory Repayments. Borrower is required to repay outstanding Loans or cash collateralize outstanding Letters of Credit to the extent that outstanding Loans and Letters of Credit exceed the aggregate Commitments (including by reason of any reduction of Commitments as provided below). Termination or Reduction of Commitments: CalEnergy may terminate or reduce the Commitments in amounts of at least $5 million at any time on at least three business days' notice. In the event that Borrower or any of its Subsidiaries shall at any time, or from time to time, receive any net proceeds in excess of $100,000,000 from Asset Dispositions made during any fiscal year, Borrower shall give prompt written notice thereof to the Agent, and the Commitments of the Banks shall, at the election of Majority Banks, be ratably reduced (pro rata with the revolving credit facility in the maximum principal amount of $150 million (the "Other Facility") as contemplated by that separate commitment letter among the Borrower and the Co-Arrangers, provided that the Commitments, together with the commitments under the Other Facility, shall not be reduced to an aggregate amount less than $250 million) by such amounts up to such excess and at such times as the Agent or Majority Banks may direct.
Mandatory Repayments. The net cash proceeds from any of the following (collectively, "Net Proceeds") will be used to repay the Bridge Loans (subject to prior mandatory prepayments on the Senior Credit Facility, if any, and certain exceptions to be agreed to in the Bridge Loan Agreement), in each case at 100% of the principal amount of the Bridge Loans repaid plus accrued and unpaid interest to the date of the repayment and any LIBOR breakage costs: (i) any direct or indirect public offering or private placement of any senior or subordinated debt or equity securities, including, without limitation, any Permanent Financings, after the Closing Date by any Obligor or any affiliate of any Obligor, (ii) any future bank borrowings by any Obligor other than under the Senior Credit Facility as in effect on the Closing Date and (iii) any future asset sales by any Obligor or any affiliate or direct or indirect subsidiary of an Obligor.
Mandatory Repayments. Except (i) to the extent, if any, otherwise provided in the DIP Credit Documentation (as defined below) and (ii) (in the absence of an event of default under the DIP Credit Documentation) to the extent that Asset Sale Proceeds (as defined in Proceeds Agreement dated April 5, 1999 (the "Proceeds Agreement")) exceed $93,000,000 (after post-closing adjustments of no more than $4,000,000 with respect to the Aluminum Proceeds (as defined in the Proceeds Agreement)), the Loans will be repaid upon a sale of any assets of the Borrowers or any of their subsidiaries, in an amount equal to the cash proceeds (net of reasonable costs, payment of senior obligations secured by such assets, and, unless and until the Bank Account Service Providers (as defined below) release their security interests in such proceeds, the amount of such cash proceeds constituting proceeds of Canadian Accounts Receivable (as defined below)) received by the Borrowers or such subsidiary with respect to such asset sale. In addition, if the amount of the Loans and/or Letters of Credit outstanding at any time is higher than the amount permitted under the Borrowing Base, the Borrowers will be required to make mandatory repayments, and/or to cash-collateralize Letters of Credit, in an amount equal to such excess.
Mandatory Repayments. The following Section is added to Article Four of the Credit Agreement:
Mandatory Repayments means any voluntary repayment required to be made by the Buyer or any Acquired Company following the Closing pursuant to any applicable Legal Requirements, including, without limitation, 42 C.F.R. 401.301 – 401.305 and any related “60 Day Rule” regulations, in each case to the extent the repayment obligation arises from the provision of healthcare services or the submission of healthcare claims prior to the Closing by any Acquired Company or any predecessors from whom any Acquired Company acquired any Medicare or Medicaid provider number.
Mandatory Repayments means any voluntary repayment required to be made by the Buyer or any Acquired Company following the Closing pursuant to any applicable Legal Requirements, including, without limitation, 42 C.F.R. 401.301 –401.305 and any related “60 Day Rule” regulations, in each case to the extent the repayment obligation arises from the provision of healthcare services or the submission of healthcare claims prior to the Closing by any Acquired Company or any predecessors from whom any Acquired Company acquired any Medicare or Medicaid provider number.
Mandatory Repayments. 1% amortization per annum of the Principal Amount with remainder payable in full on the Maturity Date • Semi-Annual payment of 50% of excess cash flow, with definition to be agreed upon by the Reorganized Borrower and the Requisite Consenting Lenders • Mandatory repayment from asset sale proceeds subject to exceptions and permitted reinvestment to be agreed upon by the Reorganized Borrower and the Requisite Consenting Lenders Financial Covenants: Beginning on December 31, 2010 (for the immediately preceding quarter), quarterly financial covenants to be agreed upon by the Reorganized Borrower and the Requisite Consenting Lenders.