Common use of Application of prepayment Clause in Contracts

Application of prepayment. Each prepayment of the Term Loans shall be applied (i) first, in direct order of maturities, to the next four scheduled principal repayment installments of the Term Facility and (ii) second, to the other principal repayment installments of the Term Facility on a pro rata basis. Any prepayment of Revolving Loans shall be applied (A) first, to prepayment of the Letter of Credit Loans then outstanding until such Loans are paid in full, (B) second, to prepayment of Revolving Loans then outstanding until such Loans are paid in full and (C) third, to be deposited in the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Revolving Letters of Credit then outstanding. Any prepayment of the Term Facility may not be reborrowed. Any prepayment of Revolving Loans pursuant to this Section 2.6 shall not reduce the Revolving Commitment. The prepayment of any principal amount of Loans shall be made with accrued interest to the date of such prepayment on the aggregate principal amount prepaid and EnergySolutions shall reimburse the Lenders and the Administrative Agent, on demand, for any loss or out-of-pocket expense incurred by any Lender Party or the Administrative Agent in connection with such prepayment, as set forth in Section 2.11 hereof. Any prepayment under this Agreement shall not affect EnergySolutions’ obligation to continue making payments under any Secured Hedge Agreements, which shall remain in full force and effect notwithstanding such prepayment, subject to the terms of such Secured Hedge Agreements.

Application of prepayment. Each prepayment of the Term Loans shall be applied (i) first, in direct order of maturities, to the next four scheduled principal repayment installments of the Term Facility and (ii) second, to the other principal repayment installments of the Term Facility on a pro rata basisbasis among the Term Lenders. Any prepayment of Revolving Loans shall be applied (A) first, to prepayment of the Letter of Credit Loans then outstanding until such Loans are paid in full, (B) second, to prepayment of Revolving Loans then outstanding until such Loans are paid in full and (C) third, to be deposited in the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Revolving Letters of Credit then outstanding. Any prepayment of the Term Facility may not be reborrowed. Any prepayment of Revolving Loans pursuant to this Section 2.6 shall not reduce the Revolving Commitment. The prepayment of any principal amount of Loans shall be made with accrued interest to the date of such prepayment on the aggregate principal amount prepaid and EnergySolutions shall reimburse the Lenders and the Administrative Agent, on demand, for any loss or out-of-pocket expense incurred by any Lender Party or the Administrative Agent in connection with such prepayment, as set forth in Section 2.11 hereof. Any prepayment under this Agreement shall not affect EnergySolutions’ obligation to continue making payments under any Secured Hedge Agreements, which shall remain in full force and effect notwithstanding such prepayment, subject to the terms of such Secured Hedge Agreements.

Application of prepayment. Each (a) Borrower hereby agrees to make an optional prepayment in the amount of $20.0 million (together with accrued interest thereon) on or before December 30, 2002. The parties hereby agree that such prepayment shall be deemed and treated for all purposes under the Credit Agreement as an optional prepayment of the Term Loans shall pursuant to Section 2.10(h). In connection therewith, the Borrower hereby requests and instructs that such principal amounts be applied (i) firstto prepay the December 31, in direct order of maturities2002 and March 31, to the next four scheduled principal repayment installments of the Term Facility and (ii) second, to the other principal repayment installments of the Term Facility on a pro rata basis. Any prepayment of Revolving Loans shall be applied (A) first, to prepayment of the Letter of Credit Loans then outstanding until such Loans are paid 2003 amortization payments in full, and the balance of $5.0 million be applied toward the June 30, 2003 amortization payment. (Bb) second, Borrower hereby agrees to make an additional optional prepayment of Revolving Loans then outstanding until $20.0 million (together with accrued interest thereon) on or before December 30, 2002. The parties hereby agree that such Loans are paid in full prepayment shall be deemed and (C) third, to be deposited in treated for all purposes under the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Revolving Letters of Credit then outstanding. Any Agreement as an optional prepayment of the Term Facility may not be reborrowed. Any prepayment of Revolving Loans pursuant to this Section 2.6 shall not reduce the Revolving Commitment2.10(h). The In connection therewith, such principal prepayment of any principal amount of Loans shall be made applied pro rata against the remaining scheduled installments (after giving effect to clause (a) above) of principal due in respect of the Term Loans under Section 2.09. (c) Upon completion of the prepayments referenced in clauses (a) and (b) above, the parties agree that Annex I shall be automatically amended by deleting the same from the Credit Agreement, and replacing it with accrued interest Annex I hereto. (d) The parties hereby confirm and agree that upon completion of the above payments, the Borrower will have satisfied the Excess Cash Flow prepayments required by Section 2.10(g) (as amended hereby) with respect to the date Borrower’s fiscal year ended 2002, and hereby confirm that no further Excess Cash Flow payments shall be due in respect of such prepayment on the aggregate principal amount prepaid and EnergySolutions shall reimburse the Lenders and the Administrative Agent, on demand, for any loss or out-of-pocket expense incurred by any Lender Party or the Administrative Agent in connection with such prepayment, as set forth in Section 2.11 hereof. Any prepayment under this Agreement shall not affect EnergySolutions’ obligation to continue making payments under any Secured Hedge Agreements, which shall remain in full force and effect notwithstanding such prepayment, subject to the terms of such Secured Hedge Agreementsfiscal year ended 2002.

Application of prepayment. Each prepayment of the Term Loans shall be applied (i) first, in direct order of maturities, to the next four scheduled principal repayment installments of the Term Facility and (ii) second, to the other principal repayment installments of the Term Facility on a pro rata basisbasis among the Term Lenders. Any prepayment of Zion L/C Loans shall be applied (i) first, to prepayment of the Zion L/C Loans then outstanding until such Loans are paid in full, and (ii) second, to be deposited in the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Zion Letters of Credit then outstanding. Any prepayment of Revolving Loans shall be applied (A) first, to prepayment of the Letter of Credit Loans then outstanding until such Loans are paid in full, (B) second, to prepayment of Revolving Loans then outstanding until such Loans are paid in full and (C) third, to be deposited in the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Revolving Letters of Credit then outstanding. Any prepayment of the Term Facility, the Term L/C Facility or the Zion L/C Facility may not be reborrowed. Any prepayment of Revolving Loans pursuant to this Section 2.6 shall not reduce the Revolving Commitment. The prepayment of any principal amount of Loans shall be made with accrued interest to the date of such prepayment on the aggregate principal amount prepaid and EnergySolutions shall reimburse the Lenders and the Administrative Agent, on demand, for any loss or out-of-pocket expense incurred by any Lender Party or the Administrative Agent in connection with such prepayment, as set forth in Section 2.11 hereof. Any prepayment under this Agreement shall not affect EnergySolutions’ obligation to continue making payments under any Secured Hedge Agreements, which shall remain in full force and effect notwithstanding such prepayment, subject to the terms of such Secured Hedge Agreements.

Application of prepayment. Each prepayment of the Term Loans shall be applied (i) first, in direct order of maturities, to the next four scheduled principal repayment installments of the Term Facility and (ii) second, to the other principal repayment installments of the Term Facility on a pro rata basis. Any prepayment of Revolving Loans shall be applied (A) first, to prepayment of the Letter of Credit Loans then outstanding until such Loans are paid in full, (B) second, to prepayment of Revolving Loans then outstanding until such Loans are paid in full and (C) third, to be deposited in the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Revolving Letters of Credit then outstanding. Any prepayment of the Term Facility may not be reborrowed. Any prepayment of Revolving Loans pursuant to this Section 2.6 shall not reduce the Revolving Commitment. The prepayment of any principal amount of Loans shall be made with accrued interest to the date of such prepayment on the aggregate principal amount prepaid and EnergySolutions shall reimburse the Lenders and the Administrative Agent, on demand, for any loss or out-of-pocket expense incurred by any Lender Party or the Administrative Agent in connection with such prepayment, as set forth in Section 2.11 hereof. Any prepayment under this Agreement shall not affect EnergySolutions’ obligation to continue making payments under any Secured Hedge Agreementsthe aggregate Available Amount of all Revolving Letters of Credit outstanding at such time and (iii) the aggregate amount of all unreimbursed Disbursements in respect of Synthetic Letters of Credit, which shall remain in full force and effect notwithstanding such prepayment, subject to the terms repayment or prepayment of such Secured Hedge Agreementsof the outstanding Loans or other Obligations then owing to such Lender Party.

Application of prepayment. Each (a) Borrower hereby agrees to make an optional prepayment in the amount of $20.0 million (together with accrued interest thereon) on or before December 30, 2002. The parties hereby agree that such prepayment shall be deemed and treated for all purposes under the Credit Agreement as an optional prepayment of the Term Loans shall pursuant to Section 2.10(h). In connection therewith, the Borrower hereby requests and instructs that such principal amounts be applied (i) firstto prepay the December 31, in direct order of maturities2002 and March 31, to the next four scheduled principal repayment installments of the Term Facility and (ii) second, to the other principal repayment installments of the Term Facility on a pro rata basis. Any prepayment of Revolving Loans shall be applied (A) first, to prepayment of the Letter of Credit Loans then outstanding until such Loans are paid 2003 amortization payments in full, and the balance of $5.0 million be applied toward the June 30, 2003 amortization payment. (Bb) second, Borrower hereby agrees to make an additional optional prepayment of Revolving Loans then outstanding until $20.0 million (together with accrued interest thereon) on or before December 30, 2002. The parties hereby agree that such Loans are paid in full prepayment shall be deemed and (C) third, to be deposited in treated for all purposes under the L/C Collateral Account to cash collateralize the aggregate Available Amount of the Revolving Letters of Credit then outstanding. Any Agreement as an optional prepayment of the Term Facility may not be reborrowed. Any prepayment of Revolving Loans pursuant to this Section 2.6 shall not reduce the Revolving Commitment2.10(h). The In connection therewith, such principal prepayment of any principal amount of Loans shall be made applied pro rata against the remaining scheduled installments (after giving effect to clause (a) above) of principal due in respect of the Term Loans under Section 2.09. (c) Upon completion of the prepayments referenced in clauses (a) and (b) above, the parties agree that Annex I shall be automatically amended by deleting the same from the Credit Agreement, and replacing it with accrued interest Annex I hereto (d) The parties hereby confirm and agree that upon completion of the above payments, the Borrower will have satisfied the Excess Cash Flow prepayments required by Section 2.10(g) (as amended hereby) with respect to the date Borrower's fiscal year ended 2002, and hereby confirm that no further Excess Cash Flow payments shall be due in respect of such prepayment on the aggregate principal amount prepaid and EnergySolutions shall reimburse the Lenders and the Administrative Agent, on demand, for any loss or out-of-pocket expense incurred by any Lender Party or the Administrative Agent in connection with such prepayment, as set forth in Section 2.11 hereof. Any prepayment under this Agreement shall not affect EnergySolutions’ obligation to continue making payments under any Secured Hedge Agreements, which shall remain in full force and effect notwithstanding such prepayment, subject to the terms of such Secured Hedge Agreementsfiscal year ended 2002.