Example ContractsClausesMandatory
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Mandatory. (i) If for any reason the Total Credit Outstandings at any time exceed the Revolving Credit Facility at such time, the Borrower shall immediately prepay Revolving Credit Loans, Multicurrency Revolving Credit Loans, Swing Line Loans, and L/C Borrowings and/or Cash Collateralize the L/C Obligations (other than the L/C Borrowings) in an aggregate amount equal to such excess. (ii) (A) If, on any Calculation Date, the aggregate amount of the Multicurrency Revolving Extensions of Credit exceeds 105% of the Multicurrency Sublimit, the Borrower shall, without notice or demand, immediately repay such of its outstanding Multicurrency Revolving Credit Loans (or cash collateralize its Letters of Credit in accordance with this [Section 2.05(b)(ii)]) in an aggregate principal amount such that, after giving effect thereto, # the Multicurrency Revolving Extensions of Credit do not exceed the Multicurrency Sublimit and # the Dollar Equivalent of the Multicurrency Revolving Extensions of Credit outstanding on such date is equal to or less than the Multicurrency Sublimit, and in each of [(x) and (y)] immediately preceding, together with interest accrued to the date of such payment or prepayment on the principal so prepaid and any amounts payable under Section 3.05 in connection therewith, as provided in subSection 2.05(b)(ii)(B). The Borrower may, in lieu of prepaying Multicurrency Revolving Credit Loans in order to comply with this paragraph, deposit amounts in a Cash Collateral Account, for the benefit of the Lenders, equal to # the aggregate principal amount of Multicurrency Revolving Credit Loans required to be prepaid or # the aggregate amount of such excess over the Revolving Commitments or the Multicurrency Sublimit, as the case may be. The Administrative Agent shall apply any cash deposited in any Cash Collateral Account (to the extent thereof) to repay Revolving Credit Loans at the end of the Interest Periods therefor, as the case may be; provided that # the Administrative Agent shall release to the Borrower from time to time such portion of the amount on deposit in any Cash Collateral Account to the extent such amount is not required to be so deposited in order for the Borrower to be in compliance with this Section 2.05 and # the Administrative Agent may so apply such cash at any time after the occurrence and during the continuation of an Event of Default. “Cash Collateral Account” means an account specifically established by the Borrower with the Administrative Agent for purposes of this Section 2.05 and that will be pledged to the Administrative Agent and over which the Administrative Agent shall have exclusive dominion and control, including the right of withdrawal for application in accordance with this Section 2.05. (B) If any prepayment occurs pursuant to this Section 2.05 on a day that is not the last day of the then current Interest Period with respect thereto, the Borrower shall pay to the Multicurrency Lenders such amounts, if any, as may be required pursuant to Section 3.05.

Mandatory. If after giving effect to any reduction or termination of Revolving Credit Commitments under this Section 2.06, the Letter of Credit Sublimit, the Swing Line Sublimit or the Multicurrency Sublimit exceeds the Revolving Credit Facility at such time, the Letter of Credit Sublimit, or the Swing Line Sublimit or the Multicurrency Sublimit, as the case may be, shall be automatically reduced by the amount of such excess.

Mandatory. (i) The aggregate Term A-1 Commitments shall be automatically and permanently reduced to zero on the First Amendment Effective Date, # the aggregate Term A-2 Commitments shall be automatically and permanently reduced to zero on the earlier of the last day of the Availability Period in respect of the Term A-2 Facility or the date of the initial Borrowing of Term A-2 Loans pursuant to [Section 2.01(b), and (iii)])] if, after giving effect to any reduction of the Revolving Credit Commitments or the Letter of Credit Sublimit exceeds the amount of the Revolving Credit Facility, such Sublimit shall be automatically reduced by the amount of such excess.

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 5:00 p.m. on the Amendment No. 1 Funding Date, # the 2021-1 Incremental Term Loan Commitments shall automatically terminate at 5:00 p.m. on the Amendment No. 3 Funding Date, # the 2023 Incremental Tranche A Term Loan Commitments shall automatically terminate at 5:00 p.m. on the Amendment No. 7 Funding Date, # the Tranche B-2 Term Loan Commitments shall automatically terminate at 5:00 p.m. on the Amendment No. 8 Funding Date, # the Tranche B-3 Term Loan Commitments shall automatically terminate at 5:00 p.m. on the Amendment No. 9 Funding Date, # the Initial Revolving Credit Commitments shall automatically terminate on the Initial Revolving Credit Maturity Date, and (67) 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 (s).

Mandatory. (i) The Borrower shall, on the date of receipt of # any Net Cash Proceeds by the Borrower or any of its Subsidiaries in connection with the Spin-Off, and # any other Net Cash Proceeds (other than the proceeds of # any borrowing under the Revolving Credit Agreement or # commercial paper, in each case made in the ordinary course of business) in excess of $1,000,000,000, prepay an aggregate principal amount of the Advances comprising part of the same Borrowings in an amount equal to the amount of such Net Cash Proceeds (or, in the case of [clause (y) above], in the amount of such excess).

Mandatory. If the Company shall fail to select the duration of any Interest Period for any Eurocurrency Rate Loans in accordance with the provisions contained in the definition of “Interest Period” in Section 1.01, the [[Person A:Person]] will forthwith so notify the Company and the Lenders, whereupon each such Eurocurrency Rate Loan will automatically, on the last day of the then existing Interest Period therefor, if it is a Eurocurrency Rate Loan denominated in Dollars, Convert into a Base Rate Loan or if it is a Eurocurrency Rate Loan denominated in a Currency other than Dollars, be continued as a Eurocurrency Rate Loan in its original Currency with an Interest Period of one month.

Mandatory. (i) If the Administrative Agent notifies the [[Organization A:Organization]] at least two Business Days prior to any interest payment date that, on such interest payment date, the sum of # the aggregate principal amount of all Advances denominated in Dollars plus the aggregate Available Amount of all Letters of Credit denominated in Dollars then outstanding plus # the Equivalent in Dollars (determined on the third Business Day prior to such interest payment date) of the aggregate principal amount of all Advances denominated in Committed Currencies plus the aggregate Available Amount of all Letters of Credit denominated in Committed Currencies then outstanding exceeds 105% of the aggregate Revolving Credit Commitments of the Lenders on such interest payment date, the [[Organization A:Organization]] shall, as soon as practicable and in any event within two Business Days after receipt of such notice, prepay the outstanding principal amount of any Advances owing by the [[Organization A:Organization]] in an aggregate amount sufficient to reduce such sum to an amount not to exceed 100% of the aggregate Revolving Credit Commitments of the Lenders as of such interest payment date; provided that if the [[Organization A:Organization]] has Cash Collateralized Letters of Credit in accordance with [Section 2.20(a)], the aggregate Available Amount of the outstanding Letters of Credit shall be deemed to have been reduced by the amount of such Cash Collateral. The Administrative Agent shall give prompt notice of any prepayment required under this [Section 2.11(c)(i)] to the [[Organization A:Organization]] and the Lenders.

Mandatory. Subject to any election by any Term [[Organization A:Organization]] to increase its Term Commitment pursuant to [Section 2.16], the aggregate Term Commitments shall be automatically and permanently reduced to zero on the date of the initial Term Borrowing.

Mandatory. (i) The Aggregate Commitments under a Term Loan Tranche shall be automatically and permanently reduced to zero on the date of the initial incurrence of Term Loans under such Term Loan Tranche.

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