Mandatory and Optional Prepayments. 16 3.4. Application of Payments and Collections.........................17 3.5. All Loans to Constitute One Obligation..........................18 3.6. Loan Account....................................................18 3.7. Statements of Account...........................................18 3.8.
Mandatory and Optional Prepayments. 10 3.4 Application of Payments and Collections......................10 3.5 All Loans to Constitute One Obligation.......................10 3.6
Mandatory and Optional Prepayments. (a) Prior to the Commitment Termination Date, Fincx xxxll, on each Business Day (each a "Triple-A One Payment Date") on which the Program Manager notifies Fincx xxxt amounts are owing hereunder, repay the principal of the Triple-A One Loans in the amount stated by the Program Manager to be due and payable on such Triple-A One Payment Date. The Program Manager shall give Fincx xxxice of the amount payable by 10:00 A.M. (New York City time) on the Business Day immediately preceding each Triple-A One Payment Date. Fincx xxxll make the payment required by such notice by 10:00 A.M. (New York City time) on the applicable Triple-A One Payment Date by depositing such amount in the Collection Account in immediately available funds. The amount payable by Fincx xx determined by the Program Manager shall be an amount equal to the sum of (i) the Principal Portion of the Transaction Commercial Paper maturing on the applicable Triple-A One Payment Date that will not be funded from the net proceeds of either the sale of Commercial Paper on such date or a borrowing under the Liquidity Agreement (assuming that such proceeds are allocated to the Principal Portion of the Commercial Paper before the interest relating to such Commercial Paper), (ii) the principal amount due and payable on such date under the Liquidity Agreement and not funded from the net proceeds from the sale of Commercial Paper on such date or a borrowing under the Liquidity Agreement, and (iii) the amount necessary to cure any Borrowing Base Deficiency existing on such date or that would exist at the close of business on such date (after giving effect to the amount of any payment made on such day in respect of subclauses (i) or (ii) of this subsection 2.4(a)). On and after the Commitment Termination Date, principal on the Triple-A One Loans shall be paid as provided in the Triple-A One Security Agreement.
Mandatory and Optional Prepayments. (a) On each Remittance Date following the Facility Termination Date, Available Collections shall be applied to reduce the Net Investment in accordance with Section 4.1(d)(viii) of the CCA Agreement.
Mandatory and Optional Prepayments. 3.3.1 PROCEEDS OF SALE, LOSS, DESTRUCTION OR CONDEMNATION OF COLLATERAL. Except as provided in SUBSECTIONS 6.4.2 and 8.2.9, if any Borrower sells any of the Collateral or if any of the Collateral is lost or destroyed or taken by condemnation, the applicable Borrower shall, unless otherwise agreed by Majority Lenders, pay to the Agent for the ratable benefit of the applicable Lenders in accordance with SUBSECTION 3.4.2, as and when received by such Borrower and as a mandatory prepayment of the applicable Loans, as herein provided, an amount equal to the lesser of (i) the aggregate amount of the outstanding Loans and (ii) the proceeds (including insurance payments but net of costs and taxes incurred in connection with such sale or event) received by such Borrower from such sale, loss, destruction or condemnation; PROVIDED THAT, Borrowers may elect not to prepay the Loans to the extent of up to $500,000 of asset sale proceeds received by one or more Borrowers in each Fiscal Year; PROVIDED FURTHER, THAT, if as of 28 the date of receipt of such proceeds, the applicable Borrower is not subject to a blocked account arrangement that then requires daily transfers of funds received therein to the applicable Agent, at Borrower Representative's option, such proceeds may be released to the applicable Borrower for any use or investment not otherwise prohibited hereunder. Notwithstanding anything herein to the contrary, in the case of U.K. Borrower and if U.S. Borrowers and/or Canadian Borrowers are subject to a blocked account that then requires daily transfers of funds received therein to the applicable Agent, any U.S. Borrower or any Canadian Borrower, any and all proceeds from such asset sales or Collateral lost or destroyed or taken by condemnation shall be used to prepay the Loans without regard to any exceptions otherwise contained herein. The applicable prepayment shall be applied to reduce the outstanding principal balance of the applicable Revolving Credit Loans, but shall not permanently reduce the Revolving Loan Commitments or the maximum amount of the Canadian Sublimit or the U.K. Sublimit.
Mandatory and Optional Prepayments. 3.3.1. Proceeds of Sale, Loss, Destruction or Condemnation of Collateral. Except as provided in subsections 6.4.2 and 8.2.9, if any Borrower or any of its Restricted Subsidiaries sells any of the Collateral or if any of the Collateral is lost or destroyed or taken by condemnation, the applicable Borrower shall, unless otherwise agreed by Majority Lenders, pay to Agent for the ratable benefit of Lenders as and when received by such Borrower or such Restricted Subsidiary and as a mandatory prepayment of the Loans, as herein provided, a sum equal to the proceeds (including insurance payments but net of costs and taxes incurred in connection with such sale or event) received by such Borrower or such Restricted Subsidiary from such sale, loss, destruction or condemnation. In each case, the applicable prepayment shall be applied to reduce the outstanding principal balance of the Revolving Credit Loans and any applicable Intercompany Loans, but shall not permanently reduce the Revolving Loan Commitments. If the Collateral subject to such sale, loss, damage, destruction or condemnation consists of Eligible Accounts or Eligible Inventory, such prepayment shall be specifically applied against the portion of the Borrowing Base (and the applicable Individual Borrowing Base) predicated on such Collateral. If the Collateral subject to such sale, loss, damage, destruction or condemnation consists of Equipment or real Property, then the Additional Amount and the Fixed Asset Sublimit shall be permanently reduced by the amount of such prepayment, on a pro rata basis; in each case, the applicable Individual Borrowing Base shall also be reduced by an allocable portion of the amount of such prepayment.
Mandatory and Optional Prepayments. 20 3.4. Application of Payments and Collections. 22 3.5. All Loans to Constitute One Obligation. 23 3.6. Loan Account. 24 3.7. Statements of Account. 24 3.8. Increased Costs. 24 3.9. Basis for Determining Interest Rate Inadequate. 25 3.10. Sharing of Payments, Etc. 26 3.11. Optional Prepayment/Replacement of Lenders. 26
Mandatory and Optional Prepayments. The Borrower may, at any time, prepay all or any part of the Advances without premium or penalty. If at any time the aggregate unpaid principal amount of the Advances exceeds the Commitment, the Borrower shall immediately prepay Advances in an amount sufficient to reduce such aggregate unpaid principal amount to an amount that is not greater than the Commitment. Such payment shall be applied by the Lender to repayment of Advances in such order as the Lender in its sole discretion shall select. Upon such prepayment by the Borrower, the Lender shall advise the Borrower of, and the Borrower shall immediately pay to the Lender, the amount of accrued and unpaid interest at the interest rate set forth herein on the amount of such prepayment of each Advance to the date of such prepayment.
Mandatory and Optional Prepayments. If at any time the aggregate unpaid principal balance of all Advances under the New Line exceeds $6,000,000, the Borrower shall immediately prepay such portion of the principal amount outstanding in an amount sufficient to reduce the aggregate unpaid principal balance to an amount which is not greater than $6,000,000. Subject to Section 2.
Mandatory and Optional Prepayments. The Borrower shall prepay the Revolving Loan if and to the extent that the outstanding principal amount of the Revolving Loan shall from time to time exceed the limits therefor. In addition, the Revolving Loan may be prepaid at any time at the option of the Borrower without premium or penalty. All prepayments required or permitted hereunder shall be applied first to prepayment of accrued and unpaid interest on the Revolving Loan and then to the prepayment of the outstanding principal of the Revolving Loan in the inverse order of maturity thereof.
