Example ContractsClausesApplication of Mandatory Prepayments
Application of Mandatory Prepayments
Application of Mandatory Prepayments contract clause examples

Application of Mandatory Prepayments. Subject to the provisions of clause (g) below with respect to the application of payments during the continuance of an Event of Default, any payment made by the Borrower to an Agent pursuant to Section 2.8 or any other prepayment of the Obligations required to be applied in accordance with this clause (f) shall be applied: first, to repay the outstanding principal balance of the Loans until paid in full in accordance with Section 2.14(h), and second, the excess (if any) shall be retained by the Borrower.

Application of Mandatory Prepayments. Each such prepayment shall be made and applied in the manner set forth in Section 2.4.4.

Application of Mandatory Prepayments. All amounts required to be paid pursuant to this Section 2.05(c) shall be applied as follows:

Application of Mandatory Prepayments. All amounts required to be paid pursuant to this Section 2.10(b) shall be applied as follows:

Application of Mandatory Prepayments. Subject to the provisions of clause (c) below with respect to the application of payments during the continuance of an Acceleration Event of Default, any payment made by Borrowers to Administrative Agent pursuant to Section 2.8 or any other prepayment of the Obligations required to be applied in accordance with this clause (b) shall be applied to repay the outstanding principal balance of the Revolving Loans (in such order as Administrative Agent may from time to time elect) and, thereafter, any excess shall be retained by Borrower.

Application of Mandatory Prepayments. Subject to the provisions of clause (c) below with respect to the application of payments during the continuance of an Acceleration Event, any payment made by Borrowers to Administrative Agent pursuant to Section 2.8 or any other prepayment of the Obligations required to be applied in accordance with this clause (b) (other than in respect of any payment required pursuant to (i) Sections 2.1(a), 2.8(b) or 2.8(d), which shall be applied to repay the outstanding principal balance of the Revolving Loans and (ii) Section 2.8(c), which shall be applied to repay the outstanding principal balance of the Delayed Draw Term Loans and other Obligations related thereto) shall be applied first, to repay the outstanding principal balance of the Loans (in such order as Administrative Agent may from time to time elect), second, in the case of any payment required pursuant to Section 2.1(a)(ii), to provide cash collateral to the extent and in the manner required by Section 9.3, and then, any excess shall be retained by Borrower.

Application of Mandatory Prepayments. All amounts required to be paid pursuant to Section 2.05(b)(i) shall be applied as follows, first, ratably to the L/C Borrowings and the Swing Line Loans, and second, to the outstanding Revolving Loans, and third, (if after prepayment of the outstanding Revolving Loans, the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect), to Cash Collateralize the remaining L/C Obligations. Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

Application of Mandatory Prepayments. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied as follows:

Application of Mandatory Prepayments. All amounts required to be paid pursuant to this Section shall be applied as follows: (A) with respect to all amounts prepaid pursuant to (i), (1) first to outstanding unreimbursed LC Disbursements that have not been funded by the Revolving Lenders, (2) second to the outstanding Swingline Loans, (3) third ratably to the outstanding Revolving Loans and LC Disbursements funded by Revolving Lenders and (4) fourth ratably to Cash Collateralize outstanding Letters of Credit; and (B) with respect to all amounts prepaid pursuant to Section 2.7(a)(ii), (1) first to the Swingline Loans (without a simultaneous corresponding reduction of the Swingline Committed Amount), (2) second ratably to the Revolving Loans and (3) third ratably to Cash Collateralize outstanding Letters of Credit (without a simultaneous corresponding reduction of the Revolving Committed Amount). All prepayments under this Section shall be accompanied by interest on the principal amount prepaid through the date of prepayment, but otherwise without premium or penalty other than pursuant to Section 2.6(b).

Application of Mandatory Prepayments. (A) With respect to all amounts prepaid pursuant to Section 2.05(b)(i)(A), ratably to Revolving A Loans and Swing Line Loans and (after all Revolving A Loans and Swing Line Loans have been repaid) to Cash Collateralize L/C Obligations, (B) with respect to all amounts paid pursuant to Section 2.05(b)(i)(B), ratably to Revolving B Loans and Dutch Swing Line Loans, (C) with respect to all amounts paid pursuant to Section 2.05(b)(i)(C), to Revolving A Loans denominated in Alternative Currencies and (after all Revolving A Loans denominated in Alternative Currencies have been repaid) to Cash Collateralize L/C Obligations denominated in Alternative Currencies and (D) with respect to all amounts prepaid pursuant to Section 2.05(b)(i)(D), to Revolving A Loans, Revolving B Loans, Swing Line Loans and Dutch Swing Line Loans at the Borrowers’ discretion and (after all Revolving A Loans, Revolving B Loans, Swing Line Loans and Dutch Swing Line Loans have been repaid) to Cash Collateralize L/C Obligations.

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