Example ContractsClausesMandatory Repayment at the Option of the Holder
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Mandatory Repayment at the Option of the Holder. The Holder shall have the right, at any time on or after , to require the Company to repay all or any portion of the outstanding Principal plus all accrued and unpaid Interest thereon. Such request shall be made in writing delivered to the Chief Financial Officer of the Company in accordance with [Section 20] below. Repayment of such requested Principal and any accrued and unpaid Interest thereon shall be made no later than ten (10) business days following the Company’s receipt of such request.

The Revolver Commitments, including any commitment to issue any Letter of Credit, shall terminate on the Maturity Date and (without limiting Borrower’s obligations to either # provide to Agent cash collateral in respect of the outstanding Letters of Credit or # make other arrangements (which may include backstop letters of credit) reasonably satisfactory to the Agent and the Issuing Lender, at least three (3) Business Days prior to the Maturity Date or in accordance with the provisions of [Section 2.1(a)(iii)]) all Loans, all interest that has accrued and remains unpaid thereon, all contingent reimbursement obligations of Borrower with respect to outstanding Letters of Credit, all unpaid fees, costs, or expenses that are payable hereunder or under any other Loan Document, and all other Obligations immediately shall be due and payable in full without notice or demand (including either # providing cash collateral to be held by Agent in an amount equal to 103% of the Letter of Credit Usage, # making other arrangements (which may include backstop letters of credit) reasonably satisfactory to the Agent and the Issuing Lender or # causing the original Letters of Credit to be returned to Agent), on the Maturity Date.

Mandatory Repayment. The outstanding principal amount of the Loans and all accrued but unpaid interest and other amounts payable with respect to the Loans shall be repaid on the Termination Date.

Option Holder Acceptance. The Option Holder shall signify acceptance of the terms and conditions of this Agreement and acknowledge receipt of a copy of the Plan by signing in the space provided below and returning the signed copy to the Company.

Mandatory Repayment of this Note. In the event, the Borrower completes the uplist of its securities onto a national securities exchange and receives proceeds in excess of in connection therewith, it shall use a portion of such proceeds to immediately repay all amounts due and owing hereunder.

Holder Option on Fundamental Transaction. In the alternative to [Section 5(a)] above, the Holder may, in its sole discretion, in the event of a Fundamental Transaction and/or Change of Control of at least which is not a public offering of ’s securities onto a national exchange, choose to have the Note repaid at 120% the principal amount due, plus accrued interest, rather than convert the Note in accordance with [Section 5(a)]. shall provide the Holder with at least ten (10) business days’ notice of a Fundamental Transaction or Change of Control in order for Holder to exercise its option under this Section. Notwithstanding the foregoing, Holder’s right under this section shall not affect rights and obligations of the parties as they relate to the other Transaction Documents, excluding the Note, referenced in [Section 5(a)] above.

SECTION # Mandatory Repayment of Loans.

Mandatory. The Initial Term Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the Initial Term Loans to be made by it on the Closing Date. The First Incremental Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the First Incremental Term Loans to be made by it on the Amendment No. 1 Effective Date. The Second Incremental Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the Second Incremental Term Loans to be made by it on the Amendment No. 2 Effective Date. The Third Incremental Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the Third Incremental Term Loans to be made by it on the Amendment No. 6 Effective Date. The Additional Initial Term B-1 Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the Additional Initial Term B-1 Loans to be made by it on the Amendment No. 7 Effective Date. The Additional Incremental Term B-1 Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the Additional Incremental Term B-1 Loans to be made by it on the Amendment No. 7 Effective Date. The Fourth Incremental Commitment of each Term Lender shall be automatically and permanently reduced to upon the funding of the Fourth Incremental Term Loans to be made by it on the Amendment No. 8 Increase Effective Date. The Revolving Credit Commitment of each Class shall automatically and permanently terminate on the Maturity Date with respect to such Class of Revolving Credit Commitments.

Mandatory. (i) In the event of any termination of any Tranche of Revolving Credit Commitments, the Borrowers shall, on the date of such termination, repay or prepay all outstanding Revolving Credit Loans of such Tranche and replace all outstanding Letters of Credit and/or Cash Collateralize the L/C Obligations in a cash collateral account established with the Collateral Agent for the benefit of the Secured Parties in the manner described in [Section 2.03(g)]. If for any reason the Outstanding Amount of Revolving Credit Loans of any Tranche of Revolving Credit Commitments at any time exceeds the amount of Revolving Credit Commitments of such Tranche then in effect, the Borrowers shall immediately prepay all outstanding Revolving Credit Loans of such Tranche and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this [Section 2.05(b)(i)] unless, after the prepayment in full of the Revolving Credit Loans of the applicable Tranche, the Total Outstandings exceeds the Total Revolving Credit Commitments then in effect. Mandatory prepayments of any Tranche of Revolving Credit Loans shall be made on a pro rata basis among the outstanding Revolving Credit Loans of such Tranche.

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Mandatory. (i) Unless previously terminated in accordance with the terms hereof, # the Tranche B-1 Term Loan Commitments shall automatically terminate at on the Amendment No. 1 Funding Date, # the 2021-1 Incremental Term Loan Commitments shall automatically terminate at on the Amendment No. 3 Funding Date, # the Initial Revolving Credit Commitments shall automatically terminate on the Initial Revolving Credit Maturity Date and (34) the Commitments in respect of any Tranche of New Term Loans shall automatically terminate on the maturity date set forth in the applicable Incremental Amendment or other document reasonably satisfactory to the Administrative Agent, the applicable Borrower(s) and the applicable New Term Loan Lender(s).

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