Example ContractsClausesapplication of mandatory prepaymentsVariants
Remove:

Mandatory Prepayments. Except as may be set forth in any Incremental Loan Amendment, any Extension Amendment (as defined below) or any Refinancing Amendment, all amounts required to be paid pursuant to Sections ‎2.10(c), ‎2.10(d) and ‎2.10(e) shall be applied pro rata to the outstanding Term Loans of each Class (or, in the case of the incurrence of Credit

MandatoryOptional Prepayments. Except as may be set forth in any Incremental Loan Amendment, any Extension Amendment (as defined below) or any Refinancing Amendment, all amounts requiredapplied to be paidthe voluntary prepayment of any Term Loan pursuant to SectionsSection ‎2.10(c), ‎2.10(d) and ‎2.10(e)a) shall be applied pro rata to the outstanding Term Loans of each ClassClass, and to the remaining unpaid amortization payments required under Section ‎2.09 thereof as directed by the Borrower at the time of the respective prepayment (or, in the caseabsence of such direction, in direct order of maturity to the remaining unpaid amortization payments required under Section ‎2.09). Within the parameters of the incurrenceapplications set forth above, prepayments shall be applied first to ABR Loans and then to Benchmark Rate Loans in direct order of CreditInterest Period maturities. All prepayments of Benchmark Rate Loans under this Section ‎2.10(f) shall be subject to Section ‎2.13.

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.