Common use of Mandatory Payment Clause in Contracts

Mandatory Payment. (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Commitment Amount as then in effect, Borrower shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Revolving Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment Amount. (b) If, at any time, the Swing Line Exposure shall exceed the Swing Line Commitment, Borrower shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Swing Loans sufficient to bring the Swing Line Exposure within the Swing Line Commitment. (c) Unless otherwise designated by Borrower, each prepayment pursuant to Section 2.11(a) hereof shall be applied in the following order (i) first, on a pro rata basis among the outstanding Base Rate Loans, and (ii) second, among the outstanding Eurodollar Loans in such manner as Borrower may specify (but pro rata among the Lenders), provided that, if the outstanding principal amount of any Eurodollar Loan shall be reduced to an amount less than the minimum amount set forth in Section 2.5(d) hereof as a result of such prepayment, then such Eurodollar Loan shall be converted into a Base Rate Loan on the date of such prepayment. Any prepayment of a Eurodollar Loan pursuant to this Section 2.11 shall be subject to the prepayment provisions set forth in Article III hereof.

Mandatory Payment. (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Commitment Amount as then in effect, Borrower Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Revolving Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment Amount. (b) If, at any time, the Swing Line Exposure shall exceed the Swing Line Commitment, Borrower Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Swing Loans sufficient to bring the Swing Line Exposure within the Swing Line Commitment. (c) Unless otherwise designated by BorrowerBorrowers, each prepayment pursuant to Section 2.11(a) hereof shall be applied in the following order (i) first, on a pro rata basis among all of the outstanding Base Rate Loans, and (ii) second, on a pro rata basis among all of the outstanding Eurodollar Loans in such manner as Borrower may specify (but pro rata among the Lenders)LIBOR Loans, provided that, that if the outstanding principal amount of any Eurodollar LIBOR Rate Loan shall be reduced to an amount less than the minimum amount set forth in Section 2.5(d) 2.2 hereof as a result of such prepayment, then such Eurodollar LIBOR Loan shall be converted into a Base Rate Loan on the date of such prepayment. Any prepayment of a Eurodollar LIBOR Loan or Swing Loan pursuant to this Section 2.11 shall be subject to the prepayment provisions penalties set forth in Article III Section 2.7 hereof.

Mandatory Payment. (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Commitment Amount as then in effect, Borrower shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Revolving Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment Amount. (b) If, at any time, the Swing Line Exposure shall exceed the Swing Line Commitment, Borrower shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Swing Loans sufficient to bring the Swing Line Exposure within the Swing Line Commitment. (c) Unless otherwise designated by Borrower, each prepayment pursuant to Section 2.11(a2.13(a) hereof shall be applied in the following order (i) first, on a pro rata basis among all of the outstanding Base Rate Loans, and (ii) second, on a pro rata basis among all of the outstanding Eurodollar Loans in such manner as Borrower may specify (but pro rata among the Lenders)LIBOR Fixed Rate Loans, provided that, that if the outstanding principal amount of any Eurodollar LIBOR Fixed Rate Loan shall be reduced to an amount less than the minimum amount set forth in Section 2.5(d) 2.7 hereof as a result of such prepayment, then such Eurodollar LIBOR Fixed Rate Loan shall be converted into a Base Rate Loan on the date of such prepayment. Any prepayment of a Eurodollar LIBOR Fixed Rate Loan or Swing Loan pursuant to this Section 2.11 2.13 shall be subject to the prepayment provisions set forth in Article III hereof.

Mandatory Payment. (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Revolving Credit Commitment Amount as then in effect, Borrower shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Revolving Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment AmountRevolving Credit Commitment. (b) If, at any time, the Swing Line Exposure shall exceed the Swing Line Commitment, Borrower shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Swing Loans sufficient to bring the Swing Line Exposure within the Swing Line Commitment. (c) Unless otherwise designated by Borrower, each prepayment pursuant to Section 2.11(a2.13(a) hereof shall be applied in the following order (i) first, on a pro rata basis among all of the outstanding Base Rate Loans, and (ii) second, on a pro rata basis among all of the outstanding Eurodollar Loans in such manner as Borrower may specify (but pro rata among the Lenders)LIBOR Fixed Rate Loans, provided that, that if the outstanding principal amount of any Eurodollar LIBOR Fixed Rate Loan shall be reduced to an amount less than the minimum amount set forth in Section 2.5(d2.7(d) hereof as a result of such prepayment, then such Eurodollar LIBOR Fixed Rate Loan shall be converted into a Base Rate Loan on the date of such prepayment. Any prepayment of a Eurodollar LIBOR Fixed Rate Loan or Swing Loan pursuant to this Section 2.11 2.13 shall be subject to the prepayment provisions penalties set forth in Article III hereof.

Mandatory Payment. (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Commitment Maximum Revolving Amount as then in effect, Borrower Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Revolving Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment Maximum Revolving Amount. (b) If, at any time, the Swing Line Exposure shall exceed the Swing Line Commitment, Borrower Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Swing Loans sufficient to bring the Swing Line Exposure within the Swing Line Commitment. (c) Unless otherwise designated by BorrowerIf, each prepayment pursuant at any time, a Prepayment Event occurs, Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, apply the Prepayment Proceeds to Section 2.11(a) hereof the Term Loan and then, if the Term Loan is no longer outstanding, to the Revolving Loans. If the Prepayment Proceeds are applied to the Term Loan, such proceeds shall be applied to the principal installments of the Term Loan in inverse chronological order. If the following order (i) first, on a pro rata basis among Prepayment Proceeds are applied to the outstanding Base Rate Loans, and (ii) second, among the outstanding Eurodollar Revolving Loans in such manner as Borrower may specify (but pro rata among accordance with the Lenders)preceding sentence, provided that, if the outstanding principal Revolving Credit Commitments and the Maximum Revolving Amount shall be permanently reduced by the amount of any Eurodollar Loan Prepayment Proceeds allocated thereto, respectively, whether or not there shall be reduced to an amount less than the minimum amount set forth in Section 2.5(dany Revolving Credit Exposure thereunder. (d) hereof as a result of such prepayment, then such Eurodollar Loan shall be converted into a Base Rate Loan on the date of such prepayment. Any prepayment of a Eurodollar LIBOR Loan or Swing Loan pursuant to this Section 2.11 2.13 shall be subject to the prepayment provisions penalties set forth in Article III hereof.