Common use of Revolver Termination Date Clause in Contracts

Revolver Termination Date. Not later than the third Business Day following the end of the Availability Period, the Borrower shall use the excess of (A) Cash and Cash Equivalents of the Borrower and its Subsidiaries over (B) the sum of (i) the amount of the Borrower’s existing commitments (which include revolving loan or delayed draw term loan commitments the funding of which are not at the discretion or consent of the Borrower or its Subsidiaries) to make Portfolio Investments as of such date, (ii) any follow on advances or protective advances anticipated by the Borrower to be made within ninety (90) days after the end of the Availability Period, (iii) the amount of the Borrower’s existing obligations or the amount of Cash the Borrower reasonably intends to use to make distributions and dividends within ninety (90) days after the end of the Availability Period that are permitted under Section 6.05(b) , (d) or (e), (iv) other payments in Cash by the Borrower for operating expenses and other Cash needs (other than for making new Investments) in the ordinary course of business reasonably expected to occur within ninety (90) days after the end of the Availability Period, in each case under the foregoing clauses (i), (ii), (iii) and (iv) the calculation of which shall be demonstrated to the reasonable satisfaction of the Administrative Agent, and (v) $3,000,000, to prepay the Loans (and the Commitments shall be permanently reduced by such amount). Notwithstanding the foregoing, and subject to clause (e) below, if, in connection with any of the events specified in this Section 2.08(d), the Borrower receives any proceeds or Return of Capital in an Agreed Foreign Currency, the Borrower shall be permitted to pay just the then outstanding Loans denominated in such Agreed Foreign Currency (applied ratably among just the Multicurrency Lenders); provided that any such proceeds or Return of Capital remaining after the Loans denominated in such Agreed Foreign Currency have been paid in full shall be converted to Dollars and paid ratably among the Dollar Lenders and the Multicurrency Lenders in accordance with clause (e) below.

Revolver Termination Date. Not later than the third Business Day following the end of the Availability Period, the Borrower shall use the excess of (A) Cash and Cash Equivalents of the Borrower and its Subsidiaries over (B) the sum of (i) the amount of the Borrower’s existing commitments (which include revolving loan or delayed draw term loan commitments the funding of which are not at the discretion or consent of the Borrower or its Subsidiaries) to make Portfolio Investments as of such date, (ii) any follow on advances or protective advances anticipated by the Borrower to be made within ninety (90) days after the end of the Availability Period, (iii) the amount of the Borrower’s existing obligations or the amount of Cash the Borrower reasonably intends to use to make distributions and dividends within ninety (90) days after the end of the Availability Period that are permitted under Section 6.05(b) ), (d) or (e), (iv) other payments in Cash by the Borrower for operating expenses and other Cash needs (other than for making new Investments) in the ordinary course of business reasonably expected to occur within ninety (90) days after the end of the Availability Period, in each case under the foregoing clauses (i), (ii), (iii) and (iv) the calculation of which shall be demonstrated to the reasonable satisfaction of the Administrative Agent, and (v) $3,000,00010,000,000, to prepay the Loans (and the Commitments shall be permanently reduced by such amount). Notwithstanding the foregoing, and subject to clause (e) below, if, in connection with any of the events specified in this Section 2.08(d), the Borrower receives any proceeds or Return of Capital in an Agreed Foreign Currency, the Borrower shall be permitted to pay just the then outstanding Loans denominated in such Agreed Foreign Currency (applied ratably among just the Multicurrency Lenders); provided that any such proceeds or Return of Capital remaining after the Loans denominated in such Agreed Foreign Currency have been paid in full shall be converted to Dollars and paid ratably among the Dollar Lenders and the Multicurrency Lenders in accordance with clause (e) below.

Revolver Termination Date. Not later than the third Business Day following the end of the Availability Period, the Borrower shall use the excess of (A) Cash and Cash Equivalents of the Borrower and its Subsidiaries over (B) the sum earliest to occur of (i) the amount of the Borrower’s existing commitments (which include revolving loan or delayed draw term loan commitments the funding of which are not at the discretion or consent of the Borrower or its Subsidiaries) to make Portfolio Investments as of such date, Stated Maturity Date; (ii) any follow the date that is ninety (90) days prior to the maturity date of the Existing Subordinated Debt under the Indenture, unless, on advances or protective advances anticipated by before such date (A) Agent has implemented the Borrower Existing Subordinated Debt Reserve (which will not be implemented sooner than ninety (90) days prior to be made within the maturity date of the Existing Subordinated Debt under the Indenture) and no Overadvance or Event of Default occurs as a result thereof, or (B) Borrowers pay in full, refinance or extend the maturity of the Existing Subordinated Debt to a date that is not earlier than the date that is ninety (90) days after the end Stated Maturity Date, on terms that are not materially more restrictive (including, without limitation, the subordination of such Debt to the Obligations at least to the same extent as the Debt being extended, renewed or refinanced and that no additional Lien is granted to secure it) on the Obligors than the terms set forth in the Indenture as in effect on the Third Amendment Effective Date (or, if materially more restrictive, on terms that are satisfactory to Agent) and that are otherwise reasonably satisfactory to Agent (it being understood, however, that Borrowers may refinance a portion of the Availability PeriodExisting Subordinated Debt (in aggregate principal amount not to exceed $30,000,000) with Permitted Bond Refinancing Notes, to the extent permitted by Section 10.2.1(b)); and (iii) the amount date that is ninety (90) days prior to the maturity date of any Permitted Bond Refinancing Notes, unless, on or before such date (A) Agent has implemented the Permitted Bond Refinancing Notes Reserve (which will not be implemented sooner than ninety (90) days prior to the maturity date of the Borrower’s existing obligations Existing Subordinated Debt under the Indenture) and no Overadvance or Event of Default occurs as a result thereof, or (B) Borrowers pay in full, refinance or extend the amount maturity of Cash the Borrower reasonably intends Permitted Bond Refinancing Notes to use to make distributions and dividends within a date that is not earlier than the date that is ninety (90) days after the end of the Availability Period Stated Maturity Date, on terms that are permitted under Section 6.05(bnot materially more restrictive (including, without limitation, the subordination of such Debt to the Obligations at least to the same extent as the Debt being extended, renewed or refinanced and that no additional Lien is granted to secure it) , (d) or (e), (iv) other payments in Cash by on the Borrower for operating expenses and other Cash needs (other Obligors than for making new Investments) the terms set forth in the ordinary course of business reasonably expected Permitted Bond Refinancing Notes at the time the Permitted Bond Refinancing Notes are approved by Agent (or, if materially more restrictive, on terms that are satisfactory to occur within ninety (90) days after the end of the Availability Period, in each case under the foregoing clauses (i), (ii), (iiiAgent) and that are otherwise reasonably satisfactory to Agent. U.S. Base Rate: for any day, a per annum rate equal to the greater of (iva) the calculation of which shall be demonstrated to U.S. Prime Rate for such day; (b) the reasonable satisfaction of the Administrative Agent, U.S. Federal Funds Rate for such day plus 0.50%; and (vc) $3,000,000, to prepay the Loans (and the Commitments shall be permanently reduced by LIBOR for a 30 day Interest Period as determined on such amount). Notwithstanding the foregoing, and subject to clause (e) below, if, in connection with any of the events specified in this Section 2.08(d), the Borrower receives any proceeds or Return of Capital in an Agreed Foreign Currency, the Borrower shall be permitted to pay just the then outstanding Loans denominated in such Agreed Foreign Currency (applied ratably among just the Multicurrency Lenders); provided that any such proceeds or Return of Capital remaining after the Loans denominated in such Agreed Foreign Currency have been paid in full shall be converted to Dollars and paid ratably among the Dollar Lenders and the Multicurrency Lenders in accordance with clause (e) belowday plus 1.00%.