Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company will repay the aggregate outstanding principal of the Tranche A Term Loans on the dates and in the amounts set forth below: September 30, 2005 $ 1,250,000 December 31, 2005 $ 1,250,000 March 31, 2006 $ 1,250,000 June 30, 2006 $ 1,250,000 September 30, 2006 $ 1,250,000 December 31, 2006 $ 1,250,000 March 31, 2007 $ 1,250,000 June 30, 2007 $ 1,250,000 September 30, 2007 $ 1,875,000 December 31, 2007 $ 1,875,000 March 31, 2008 $ 1,875,000 June 30, 2008 $ 1,875,000 September 30, 2008 $ 3,125,000 December 31, 2008 $ 3,125,000 March 31, 2009 $ 3,125,000 June 30, 2009 $ 3,125,000 September 30, 2009 $ 5,000,000 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A Term Loan Maturity Date $ 5,000,000 (b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iv) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment. (c) In the event that, at any time, the Aggregate Revolving Credit Exposure (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount of such excess; provided that, to the extent such excess amount is greater than the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepayment, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the event that, at any time, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Revolving Loans in the Dollar Amount of such excess on the last day of the first Interest Period ending thereafter or, if sooner, within thirty (30) days (or immediately, if an Event of Default shall then have occurred and be continuing).
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans on the dates and in the amounts set forth below: March 31, 2004 $ 1,250,000 June 30, 2004 $ 1,250,000 September 30, 2004 $ 1,250,000 December 31, 2004 $ 1,250,000 March 31, 2005 $ 1,250,000 June 30, 2005 $ 1,250,000 September 30, 2005 $ 1,250,000 December 31, 2005 $ 1,250,000 March 31, 2006 $ 1,250,000 June 30, 2006 $ 1,250,000 September 30, 2006 $ 1,250,000 December 31, 2006 $ 1,250,000 March 31, 2007 $ 1,250,000 June 30, 2007 $ 1,250,000 September 30, 2007 $ 1,875,000 1,250,000 December 31, 2007 $ 1,875,000 1,250,000 March 31, 2008 $ 1,875,000 1,250,000 June 30, 2008 $ 1,875,000 1,250,000 September 30, 2008 $ 3,125,000 1,250,000 December 31, 2008 $ 3,125,000 1,250,000 March 31, 2009 $ 3,125,000 June 30, 2009 $ 3,125,000 September 30, 2009 $ 5,000,000 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A 37,500,000 Term Loan Maturity Date $ 5,000,00037,500,000
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date (as such date may be changed in accordance with the definition of “Term Loan Maturity Date”), (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iviii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(c) In the event that, at any time, the Aggregate Revolving Credit Exposure (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater than the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) amount of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepayment, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the .
(d) Promptly upon (and in any event that, at any timenot later than one (1) Business Day after) its receipt thereof, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers Borrower will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Loans in an amount equal to 100% of the Net Cash Proceeds from any Equity Issuance (other than a Qualified Equity Issuance), 100% of the Net Cash Proceeds from any Debt Issuance and 50% of the Net Cash Proceeds from any Qualified Equity Issuance, and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds.
(e) Not later than 180 days after its receipt of any proceeds of insurance, condemnation award or other compensation in respect of any Casualty Event (or, if earlier, upon its determination not to repair or replace any property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries), the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Casualty Event (less any amounts theretofore applied (or contractually committed to be applied) to the repair or replacement of property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries) and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds; provided, however, that, notwithstanding the foregoing, (i) except as otherwise provided in this Agreement (including in clause (ii) below) or in any other Credit Document, the Administrative Agent shall turn over to the Borrower any such proceeds received during such 180-day period (unless the Borrower has, prior to the Administrative Agent’s receipt of such proceeds, notified the Administrative Agent of its determination not to repair or replace the property subject to the applicable Casualty Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries), but nothing in this Section 2.6(e) shall be deemed to limit or otherwise affect any right of the Administrative Agent herein or in any of the other Credit Documents to receive and hold such proceeds as loss payee and to disburse the same to the Borrower upon the terms hereof or thereof, or any obligation of the Borrower or any of its Subsidiaries herein or in any of the other Credit Documents to remit any such proceeds to the Administrative Agent upon its receipt thereof, and (ii) any and all such proceeds received or held by the Administrative Agent or the Borrower or any of its Subsidiaries during the continuance of an Event of Default (regardless of any proposed or actual use thereof for repair, replacement or reinvestment) shall be applied to prepay the outstanding principal amount of the Loans.
(f) Not later than 180 days after its receipt of proceeds in respect of any Asset Disposition other than an Excluded Asset Disposition (or, if earlier, upon its determination not to apply such proceeds to the acquisition of assets used or useable in the business of the Borrower and its Subsidiaries), the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Asset Disposition (less any amounts theretofore applied (or contractually committed to be applied) to acquire assets used or useable in the business of the Borrower and its Subsidiaries) and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds; provided, however, that any such Net Cash Proceeds not applied (or contractually committed to be applied) within 180 days to the acquisition of other assets as provided herein shall be applied by the Borrower as a prepayment of the outstanding principal amount of the Loans no later than the first (1st) Business Day immediately following such 180-day period. Notwithstanding the foregoing, nothing in this Section 2.6(f) shall be deemed to permit any Asset Disposition not expressly permitted under Section 8.4.
(g) Concurrently with the delivery of its annual financial statements after the end of each fiscal year, beginning with delivery of the annual financial statements for fiscal year 2004, and in any event not later than ninety (90) days after the last day of each such fiscal year, the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 75% of Excess Cash Flow, if any, for such fiscal year and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Excess Cash Flow; provided, however, that in the event the Total Leverage Ratio is equal to or less than 3.0 to 1.0 as of the last day of any such fiscal year, the prepayment required under this Section 2.6(g) shall be an amount equal to 50% of Excess Cash Flow, if any, for such fiscal year.
(h) Each prepayment of the Loans made pursuant to Sections 2.6(d) through Section 2.6(g) shall be applied (i) first, to reduce the outstanding principal amount of the Term Loans, with such reduction to be applied in direct order of maturity to the principal payments scheduled to come due within the next twelve months and thereafter to the remaining scheduled principal payments on a pro rata basis, (ii) second, to the extent of any excess remaining after application as provided in clause (i) above, to reduce the outstanding principal amount of the Swingline Loans (with a corresponding permanent reduction of the Revolving Credit Commitments), (iii) third, to the extent of any excess remaining after application as provided in clauses (i) and (ii) above, to reduce the outstanding principal amount of the Revolving Loans (with a corresponding permanent reduction of the Revolving Credit Commitments), and (iv) fourth, to the extent of any excess remaining after application as provided in clauses (i), (ii) and (iii) above, to pay any outstanding Reimbursement Obligations and, to the Dollar Amount extent of any excess remaining, to cash collateralize Letter of Credit Exposure. Within each Class of Loans, such excess prepayments shall be applied first to prepay all Base Rate Loans, and then to prepay LIBOR Loans in direct order of Interest Period maturities. Each payment or prepayment pursuant to the provisions of this Section 2.6 shall be applied ratably among the Lenders holding the Loans being prepaid, in proportion to the principal amount held by each. Each payment or prepayment of a LIBOR Loan made pursuant to the provisions of this Section on a day other than the last day of the first Interest Period ending thereafter orapplicable thereto shall be made together with all amounts required under Section 2.18 to be paid as a consequence thereof.
(i) If the Borrower is required to make a mandatory prepayment of LIBOR Loans under this Section 2.6, the Borrower shall have the right, in lieu of making such prepayment in full, to deposit an amount equal to such mandatory prepayment with the Administrative Agent in a cash collateral account maintained (pursuant to documentation reasonably satisfactory to the Administrative Agent) by and in the sole dominion and control of the Administrative Agent. Any amounts so deposited shall be held by the Administrative Agent as collateral for the prepayment of such LIBOR Loans and shall be applied to the prepayment of the applicable LIBOR Loans at the end of the current Interest Periods applicable thereto. At the request of the Borrower, amounts so deposited shall be invested by the Administrative Agent in Cash Equivalents maturing prior to the date or dates on which it is anticipated that such amounts will be applied to prepay such LIBOR Loans; any interest earned on such Cash Equivalents will be for the account of the Borrower and the Borrower will deposit with the Administrative Agent the amount of any loss on any such Cash Equivalents to the extent necessary in order that the amount of the prepayment to be made with the deposited amounts may not be reduced.
(j) In the event the Administrative Agent receives a notice of prepayment with respect to Sections 2.6(d) through 2.6(g), the Administrative Agent will give prompt notice thereof to the Lenders; provided that if soonersuch notice has also been furnished to the Lenders, within thirty (30) days (or immediately, if an Event of Default the Administrative Agent shall then have occurred and be continuing)no obligation to notify the Lenders with respect thereto.
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans in the amounts and on the dates and in the amounts set forth below: Date Payment Amount ---- -------------- September 30, 2005 $ 1,250,000 2000 $2,250,000 December 31, 2005 $ 1,250,000 2000 $2,250,000 March 31, 2006 $ 1,250,000 2001 $2,250,000 June 30, 2006 $ 1,250,000 2001 $2,250,000 September 30, 2006 $ 1,250,000 2001 $2,812,500 December 31, 2006 $ 1,250,000 2001 $2,812,500 March 31, 2007 $ 1,250,000 2002 $2,812,500 June 30, 2007 $ 1,250,000 2002 $2,812,500 September 30, 2007 $ 1,875,000 2002 $2,812,500 December 31, 2007 $ 1,875,000 2002 $2,812,500 March 31, 2008 $ 1,875,000 2003 $2,812,500 June 30, 2008 $ 1,875,000 2003 $2,812,500 September 30, 2008 $ 3,125,000 2003 $3,375,000 December 31, 2008 $ 3,125,000 2003 $3,375,000 Date Payment Amount ---- -------------- March 31, 2009 $ 3,125,000 2004 $3,375,000 June 30, 2009 $ 3,125,000 September 30, 2009 $ 5,000,000 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A Term Loan Maturity Date $ 5,000,0002004 $3,375,000
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iviii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(c) In the event that, at any time, the Aggregate sum of (x) the aggregate principal amount of Revolving Credit Exposure Loans outstanding at such time, and (y) the aggregate principal amount of Swingline Loans outstanding at such time (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers Borrower will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater .
(d) Promptly upon (and in any event not later than the aggregate principal Dollar Amount two (determined as of the most recent Revaluation Date2) of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepaymentBusiness Days after) its receipt thereof, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the event that, at any time, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers Borrower will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Revolving Loans in an amount equal to 75% of the Dollar Amount Net Cash Proceeds from any Equity Issuance and 100% of the Net Cash Proceeds from any Debt Issuance, and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such excess on Net Cash Proceeds.
(e) Promptly upon (and in any event not later than two (2) Business Days after) its receipt thereof, the last day Borrower will prepay the outstanding principal amount of the first Interest Period ending thereafter orLoans in an amount equal to 100% of the excess of the Net Cash Proceeds from any Asset Disposition over (i) $3,000,000, (ii) together with the aggregate of the Net Cash Proceeds from all Asset Dispositions occurring within the 365-day period immediately preceding such Asset Disposition (but specifically excluding, if soonerapplicable, within thirty any Asset Dispositions occurring prior to April 1, 1999), $6,000,000, or (30iii) days together with the aggregate of the Net Cash Proceeds from all Asset Dispositions occurring during the term of this Agreement, $20,000,000, whichever is greater. The Borrower will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds. Notwithstanding the foregoing, nothing in this subsection shall be deemed to permit any Asset Disposition not expressly permitted under Section 7.4.
(or immediatelyf) Each prepayment of the Loans made pursuant to subsections (d) and (e) above shall be applied (i) first, if an Event to reduce the outstanding principal amount of Default shall then have occurred and be continuing).the Term Loans, with such
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans on the dates and each date set forth below in the amounts set forth belowaggregate principal amount opposite such date: September 30, 2005 $ 1,250,000 December 31, 2005 $ 1,250,000 March 31, 2006 $ 1,250,000 June 30, 2006 $ 1,250,000 September 30, 2006 $ 1,250,000 December 31, 2006 $ 1,250,000 March 31, 2007 $ 1,250,000 June 30, 2007 $ 1,250,000 September 30, 2007 $ 1,875,000 December 31, 2007 $ 1,875,000 March 31, 2008 $ 1,875,000 June 30, 2008 $ 1,875,000 September 30, 2008 $ 3,125,000 December 31, 2008 $ 3,125,000 March 31, 2009 $ 3,125,000 Date Payment Amount June 30, 2009 $ 3,125,000 10,000,000 September 30, 2009 $ 5,000,000 10,000,000 December 31, 2009 $ 5,000,000 10,000,000 March 31, 2010 $ 5,000,000 Tranche A Term Loan 10,000,000 June 30, 2010 $ 13,000,000 September 30, 2010 $ 13,000,000 December 31, 2010 $ 13,000,000 March 31, 2011 $ 13,000,000 June 30, 2011 $ 17,000,000 September 30, 2011 $ 17,000,000 Date Payment Amount December 31, 2011 $ 17,000,000 March 31, 2012 $ 17,000,000 Maturity Date $ 5,000,00040,000,000
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iviii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(c) In the event that, at any time, the Aggregate Revolving Credit Exposure (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater than the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) amount of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepayment, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.82.19(h), and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the event that, at any time, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Revolving Loans in the Dollar Amount of such excess on the last day of the first Interest Period ending thereafter or, if sooner, within thirty (30) days (or immediately, if an Event of Default shall then have occurred and be continuing).
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans on the dates last Business Day of each March, June, September and December during the periods, and in the amounts corresponding amounts, set forth below: Date Payment Amount ---- -------------- September 30, 2005 $ 1,250,000 December 312002 through $3,128,254 June 30, 2005 $ 1,250,000 2003 September 30, 2003 through $3,753,905 March 31, 2006 $ 1,250,000 2004 June 30, 2006 $ 1,250,000 2004 $6,200,270
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Borrower will repay the aggregate outstanding principal of the Tranche B Term Loans on the last Business Day of each March, June, September and December during the periods, and in the corresponding amounts, set forth below: Date Payment Amount ---- -------------- September 30, 2006 $ 1,250,000 December 31, 2006 $ 1,250,000 2002 through March 31, 2007 $ 1,250,000 $400,000 June 30, 2007 $ 1,250,000 September 30, 2007 $ 1,875,000 December 31, 2007 $ 1,875,000 March 31, 2008 $ 1,875,000 June 30, 2008 $ 1,875,000 September 30, 2008 $ 3,125,000 December 31, 2008 $ 3,125,000 March 31, 2009 $ 3,125,000 June 30, 2009 $ 3,125,000 September 30, 2009 $ 5,000,000 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A Term Loan Maturity Date $ 5,000,000$152,400,000
(bc) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Tranche B Term Loans shall be due and payable in full by the Company on the Revolving Credit Tranche B Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iv) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(cd) In the event that, at any time, the Aggregate sum of (x) the aggregate principal amount of Revolving Credit Exposure Loans outstanding at such time, and (y) the aggregate principal amount of Swingline Loans outstanding at such time (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers Borrower will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater .
(e) Promptly upon (and in any event not later than the aggregate principal Dollar Amount two (determined as of the most recent Revaluation Date2) of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepaymentBusiness Days after) its receipt thereof, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the event that, at any time, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers Borrower will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Revolving Loans in an amount equal to 25% of the Dollar Amount Net Cash Proceeds from any Equity Issuance and 100% of the Net Cash Proceeds from any Debt Issuance, and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds.
(f) The Borrower will (i) promptly upon (and in any event not later than two (2) Business Days after) its receipt thereof, prepay the outstanding principal amount of the Loans in an amount equal to 100% of the excess of the Net Cash Proceeds from any Asset Disposition over $15,000,000, and (ii) within five (5) Business Days after the end of any month in which the Net Cash Proceeds from Asset Dispositions exceeds the amounts set forth below, prepay the outstanding principal amount of the Loans in an amount equal to 100% of the excess of the Net Cash Proceeds from any Asset Disposition over (x) together with the aggregate of the Net Cash Proceeds from all Asset Dispositions occurring within the 365-day period immediately preceding such Asset Disposition (but specifically excluding, if applicable, any Asset Dispositions occurring prior to the Closing Date), $25,000,000, or (y) together with the aggregate of the Net Cash Proceeds from all Asset Dispositions occurring after the Closing Date, $50,000,000, whichever is greater. The Borrower will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds. Notwithstanding the foregoing, nothing in this subsection shall be deemed to permit any Asset Disposition not expressly permitted under Section 7.4.
(g) Each prepayment of the Loans made pursuant to subsections (d) and (e) above shall be applied (i) first, to reduce the outstanding principal amount of the Tranche A Term Loans and Tranche B Term Loans on a pro rata basis, with such reduction to be applied to the remaining scheduled principal payments on the last day Tranche A Term Loans and the Tranche B Term Loans (as set forth in subsections (a) and (b) above) on a pro rata basis (provided, however, that promptly upon notification thereof, one or more Tranche B Lenders may decline to accept any such prepayment to the extent there are sufficient amounts of Tranche A Term Loans outstanding to be paid with such declined prepayments, in which case, such declined payments shall be allocated pro rata among the Tranche A Term Loans and the Tranche B Term Loans held by Lenders accepting such prepayments (it being understood that the Tranche B Lenders will have no such right to decline prepayments if there are insufficient amounts of Tranche A Term Loans outstanding to be repaid)), (ii) second, to the extent of any excess remaining after application as provided in clause (i) above, to reduce the outstanding principal amount of the first Interest Period ending thereafter orSwingline Loans, if sooner, within thirty (30) days (or immediately, if an Event of Default shall then have occurred and be continuing).with a corresponding reduction to the Revolving Credit Commitments as provided in
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans on the dates and in the amounts set forth below: March 31, 2005 $ 875,000 June 30, 2005 $ 875,000 September 30, 2005 $ 1,250,000 875,000 December 31, 2005 $ 1,250,000 875,000 March 31, 2006 $ 1,250,000 1,312,500 June 30, 2006 $ 1,250,000 1,312,500 September 30, 2006 $ 1,250,000 1,312,500 December 31, 2006 $ 1,250,000 1,312,500 March 31, 2007 $ 1,250,000 1,750,000 June 30, 2007 $ 1,250,000 1,750,000 September 30, 2007 $ 1,875,000 1,750,000 December 31, 2007 $ 1,875,000 1,750,000 March 31, 2008 $ 1,875,000 2,187,500 June 30, 2008 $ 1,875,000 2,187,500 September 30, 2008 $ 3,125,000 2,187,500 December 31, 2008 $ 3,125,000 2,187,500 March 31, 2009 $ 3,125,000 2,625,000 June 3031, 2009 $ 3,125,000 2,625,000 September 30, 2009 $ 5,000,000 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A 2,625,000 Term Loan Maturity Date $ 5,000,0002,625,000
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iviii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(c) In the event that, at any time, the Aggregate Revolving Credit Exposure (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), the Borrower will, within two (i2) the Company will immediately Business Days after such time, prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater than the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) amount of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepayment, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the .
(d) Promptly upon (and in any event that, at any timenot later than five (5) Business Days after) its receipt thereof, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers Borrower will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Loans in an amount equal to 75% of the Net Cash Proceeds from any Equity Issuance and 100% of the Net Cash Proceeds from any Debt Issuance, and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed on behalf of the Borrower by a Financial Officer of the Borrower in form reasonably satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds; provided, however, that in the event the Total Leverage Ratio (calculated on a pro forma basis after giving effect to any Equity Issuance) is equal to or less than 2.0 to 1.0, the Borrower shall not be required to prepay the Loans in respect of any such Equity Issuance.
(e) Not later than 270 days after its receipt of any proceeds of insurance, condemnation award or other compensation in respect of any Casualty Event in excess of (y) $500,000 for any single Casualty Event or (z) $1,000,000 when aggregated with such proceeds for all Casualty Events during any single fiscal year (or, in either case, if earlier, upon its determination not to repair or replace any property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower or its Subsidiaries), the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Casualty Event (less any amounts theretofore applied (or contractually committed to be applied) to the repair or replacement of property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower or its Subsidiaries) and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed on behalf of the Borrower by a Financial Officer of the Borrower in form reasonably satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds; provided, however, that, notwithstanding the foregoing, (i) except as otherwise provided in this Agreement (including in clause (ii) below) or in any other Credit Document, the Administrative Agent shall promptly turn over to the Borrower any such proceeds received during such 270-day period (unless the Borrower has, prior to the Administrative Agent’s receipt of such proceeds, notified the Administrative Agent of its determination not to repair or replace the property subject to the applicable Casualty Event or to acquire assets used or useable in the business of the Borrower or its Subsidiaries), but nothing in this Section 2.6(e) shall be deemed to limit or otherwise affect any right of the Administrative Agent herein or in any of the other Credit Documents to receive and hold such proceeds as loss payee and to disburse the same to the Borrower upon the terms hereof or thereof, or any obligation of the Borrower or any of its Subsidiaries herein or in any of the other Credit Documents to remit any such proceeds to the Administrative Agent upon its receipt thereof, and (ii) any and all such proceeds received or held by the Administrative Agent or the Borrower or any of its Subsidiaries during the continuance of an Event of Default (regardless of any proposed use thereof for repair, replacement or reinvestment, but less any amounts theretofore applied (or contractually committed to be applied) to the repair or replacement of property subject to such Casualty Event) shall be applied to prepay the outstanding principal amount of the Loans. Subject to the foregoing, any proceeds of insurance, condemnation award or other compensation in respect of any Casualty Event applied (or contractually committed to be applied) within 270 days to the repair or replacement of property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower or its Subsidiaries in accordance with the provisions of this Section 2.6(e) shall not be required to be applied by the Borrower as a prepayment of the outstanding principal amount of the Loans.
(f) Promptly upon (and in any event not later than five (5) Business Days after) its receipt thereof, the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from any Asset Disposition and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed on behalf of the Borrower by a Financial Officer of the Borrower in form reasonably satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds; provided, however, that with respect to Asset Dispositions permitted under Section 8.4(v), the Borrower shall not be required to apply such Net Cash Proceeds as a prepayment of the Loans as provided herein, so long as (and to the extent that) such Net Cash Proceeds are applied towards (or are contractually committed to be applied towards) assets used or useable in the business of the Borrower or its Subsidiaries within 180 days after such Asset Disposition; but provided further that any such Net Cash Proceeds not applied within 180 days (regardless of any contractual commitments) to the replacement of property subject to such Asset Disposition shall be applied by the Borrower as a prepayment of the outstanding principal amount of the Loans no later than the fifth (5th) Business Day immediately following such 180-day period. Notwithstanding the foregoing, nothing in this Section 2.6(f) shall be deemed to permit any Asset Disposition not expressly permitted under Section 8.4.
(g) Each prepayment of the Loans made pursuant to Sections 2.6(d) through Section (f) shall be applied (i) first, to reduce the outstanding principal amount of the Term Loans, with such reduction to be applied (y) first, to the next four (4) scheduled unpaid principal payments (as set forth in subsection (a) above) (excluding any scheduled principal payment due on the date of such prepayment), in the direct order of maturity, and (z) second, to the extent of any excess remaining after application as provided in clause (y) above, to the other remaining scheduled principal payments (as set forth in subsection (a) above), in the inverse order of maturity, (ii) second, to the extent of any excess remaining after application as provided in clause (i) above, to reduce the outstanding principal amount of the Swingline Loans (but without any corresponding permanent reduction of the Swingline Commitment or the Revolving Credit Commitments), (iii) third, to the extent of any excess remaining after application as provided in clauses (i) and (ii) above, to reduce the outstanding principal amount of the Revolving Loans (but without any corresponding permanent reduction of the Revolving Credit Commitments), and (iv) fourth, to the extent of any excess remaining after application as provided in clauses (i), (ii) and (iii) above, to pay any outstanding Reimbursement Obligations, and within each Class of Loans shall be applied first to prepay all Base Rate Loans before any LIBOR Loans are prepaid; provided that such prepayments shall be applied against LIBOR Loans in such a manner as to minimize any amounts required to be paid under Section 2.18 as a consequence thereof. Each payment or prepayment pursuant to the Dollar Amount provisions of such excess this Section 2.6 shall be applied ratably among the Lenders holding the Loans being prepaid, in proportion to the principal amount held by each. Swingline Loans and Revolving Loans (but not Term Loans) prepaid pursuant to this Section 2.6(g) may be reborrowed, subject to the terms and conditions of this Agreement.
(h) Each payment or prepayment of a LIBOR Loan made pursuant to the provisions of this Section on a day other than the last day of the first Interest Period ending thereafter orapplicable thereto shall be made together with all amounts required under Section 2.18 to be paid as a consequence thereof.
(i) In the event the Administrative Agent receives a notice of prepayment with respect to Sections 2.6(d) through 2.6(f), the Administrative Agent will give prompt notice thereof to the Lenders; provided that if soonersuch notice has also been furnished to the Lenders, within thirty (30) days (or immediatelythe Administrative Agent shall have no obligation to notify the Lenders with respect thereto. Upon request by any Lender, if an Event the Administrative Agent will forward to such Lender a copy of Default shall then have occurred and be continuing)the certificate of the Borrower with respect to any such prepayment.
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans on the dates and in the amounts set forth below: March 31, 2011 $583,333 June 30, 2011 $583,333 September 30, 2005 $ 1,250,000 2011 $583,333 December 31, 2005 $ 1,250,000 2011 $583,333 March 31, 2006 $ 1,250,000 2012 $583,333 June 30, 2006 $ 1,250,000 2012 $583,333 September 30, 2006 $ 1,250,000 2012 $583,333 December 31, 2006 $ 1,250,000 2012 $583,333 March 31, 2007 $ 1,250,000 2013 $583,333 June 30, 2007 $ 1,250,000 2013 $583,333 September 30, 2007 $ 1,875,000 2013 $583,333 December 31, 2007 $ 1,875,000 2013 $583,333 March 31, 2008 $ 1,875,000 2014 $583,333 June 30, 2008 $ 1,875,000 2014 $583,333 September 30, 2008 $ 3,125,000 2014 $583,333 December 31, 2008 $ 3,125,000 2014 $583,333 March 31, 2009 $ 3,125,000 2015 $583,333 June 30, 2009 $ 3,125,000 2015 $583,333 September 30, 2009 $ 5,000,000 2015 $583,333 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A 2015 $583,333 Term Loan Maturity Date $ 5,000,000$23,333,340
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iviii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(c) In the event that, at any time, the Aggregate Revolving Credit Exposure (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater than the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) amount of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepayment, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the .
(d) Promptly upon (and in any event that, at not later than one Business Day after) receipt thereof by any timeCredit Party, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers Borrower will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Loans in an amount equal to 50% of the Net Cash Proceeds from any Equity Issuance in excess of $100,000 (or for any Equity Issuance when the aggregate of all Equity Issuances after the Closing Date for which the Borrower has not made a prepayment under this Section 2.6(d) exceeds $200,000), and 100% of the Net Cash Proceeds from any Debt Issuance, and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds.
(e) Not later than 180 days after receipt by any Credit Party of any proceeds of insurance, condemnation award or other compensation in respect of any Casualty Event (or, if earlier, upon its determination not to repair (or, if applicable, replace any property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries)), the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Casualty Event (less any amounts theretofore applied (or contractually committed to be applied) to the repair or, if applicable, the replacement of property subject to such Casualty Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries) and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds; provided, however, that, notwithstanding the foregoing, (i) the Borrower shall not be entitled to use the proceeds of any Casualty Event with respect to any Closing Date Real Property to replace such Closing Date Real Property or to acquire other assets used or usable in its business (but the Borrower may use such Casualty Event proceeds to repair any Closing Date Real Property and repair or replace improvements thereon), (ii) except as otherwise provided in this Agreement (including in clause (iii) below) or in any other Credit Document, the Administrative Agent shall turn over to the Borrower any such proceeds received during such 180-day period (unless the Borrower has, prior to the Administrative Agent’s receipt of such proceeds, notified the Administrative Agent of its determination not to repair or replace the property subject to the applicable Casualty Event or to acquire assets used or useable in the business of the Borrower and its Subsidiaries), but nothing in this Section 2.6(e) shall be deemed to limit or otherwise affect any right of the Administrative Agent herein or in any of the other Credit Documents to receive and hold such proceeds as loss payee and to disburse the same to the Borrower upon the terms hereof or thereof, or any obligation of the Borrower or any of its Subsidiaries herein or in any of the other Credit Documents to remit any such proceeds to the Administrative Agent upon its receipt thereof, and (iii) any and all such proceeds received or held by the Administrative Agent or the Borrower or any of its Subsidiaries during the continuance of an Event of Default (regardless of any proposed or actual use thereof for repair, replacement or reinvestment) shall be applied to prepay the outstanding principal amount of the Loans.
(f) Immediately upon the receipt by any Credit Party of proceeds in respect of any Asset Disposition other than an Excluded Asset Disposition, the Borrower will prepay the outstanding principal amount of the Loans in an amount equal to 100% of the Net Cash Proceeds from such Asset Disposition and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds. Notwithstanding the foregoing, (i) nothing in this Section 2.6(f) shall be deemed to permit any Asset Disposition not expressly permitted under Section 8.4, and (ii) to the extent that the Borrower’s prepayment obligation under this Section 2.6(f) with respect to any Asset Disposition or series of Asset Dispositions is less than $100,000, the Borrower shall not be required to prepay Loans under this Section 2.6(f) with respect to such Asset Disposition until the aggregate unpaid prepayment obligations under this Section 2.6(f) is greater than or equal to $100,000.
(g) Each prepayment of the Loans made pursuant to Sections 2.6(d) through Section 2.6(f) shall be applied (i) first, to reduce the outstanding principal amount of the Term Loans, with such reduction to be applied to the remaining scheduled principal payments on a pro rata basis, (ii) second, to the extent of any excess remaining after application as provided in clause (i) above, to reduce the outstanding principal amount of the Swingline Loans (with a corresponding permanent reduction of the Revolving Credit Commitments), (iii) third, to the extent of any excess remaining after application as provided in clauses (i) and (ii) above, to reduce the outstanding principal amount of the Revolving Loans (with a corresponding permanent reduction of the Revolving Credit Commitments), and (iv) fourth, to the extent of any excess remaining after application as provided in clauses (i), (ii) and (iii) above, to pay any outstanding Reimbursement Obligations and, to the Dollar Amount extent of any excess remaining, to cash collateralize Letter of Credit Exposure. Within each Class of Loans, such prepayments shall be applied first to prepay all Base Rate Loans, and then to prepay LIBOR Loans in direct order of Interest Period maturities. Each payment or prepayment pursuant to the provisions of this Section 2.6 shall be applied ratably among the Lenders holding the Loans being prepaid, in proportion to the principal amount held by each, provided that if any Lender is a Defaulting Lender at the time of any such prepayment, any mandatory prepayment of the Loans shall, if the Administrative Agent so directs at the time of making such mandatory prepayment, be applied to the Loans of other Lenders as if such Defaulting Lender had no Loans outstanding and the outstanding Loans of such excess Defaulting Lender were zero. Each payment or prepayment of a LIBOR Loan made pursuant to the provisions of this Section on a day other than the last day of the first Interest Period ending thereafter orapplicable thereto shall be made together with all amounts required under Section 2.18 to be paid as a consequence thereof.
(h) In the event the Administrative Agent receives a notice of prepayment with respect to Sections 2.6(d) through 2.6(f), the Administrative Agent will give prompt notice thereof to the Lenders; provided that if soonersuch notice has also been furnished to the Lenders, within thirty (30) days (or immediately, if an Event of Default the Administrative Agent shall then have occurred and be continuing)no obligation to notify the Lenders with respect thereto.
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Mandatory Payments and Prepayments. (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the Company Borrower will repay the aggregate outstanding principal of the Tranche A Term Loans in the amounts and on the dates and in the amounts set forth below: Date Payment Amount ---- -------------- June 30, 2001 $3,337,500 September 30, 2005 $ 1,250,000 2001 $4,171,875 December 31, 2005 $ 1,250,000 2001 $4,171,875 March 31, 2006 $ 1,250,000 2002 $4,171,875 June 30, 2006 $ 1,250,000 2002 $4,171,875 September 30, 2006 $ 1,250,000 2002 $4,171,875 Date Payment Amount ---- -------------- December 31, 2006 $ 1,250,000 2002 $4,171,875 March 31, 2007 $ 1,250,000 2003 $4,171,875 June 30, 2007 $ 1,250,000 2003 $4,171,875 September 30, 2007 $ 1,875,000 2003 $5,006,250 December 31, 2007 $ 1,875,000 2003 $5,006,250 March 31, 2008 $ 1,875,000 2004 $5,006,250 June 30, 2008 $ 1,875,000 September 30, 2008 $ 3,125,000 December 31, 2008 $ 3,125,000 March 31, 2009 $ 3,125,000 June 30, 2009 $ 3,125,000 September 30, 2009 $ 5,000,000 December 31, 2009 $ 5,000,000 March 31, 2010 $ 5,000,000 Tranche A Term Loan Maturity Date $ 5,000,0002004 $8,268,750
(b) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, (i) the aggregate outstanding principal of the Tranche A Term Loans shall be due and payable in full by the Company on the Tranche A Term Loan Maturity Date, (ii) the aggregate outstanding principal of the Dollar Revolving Loans shall be due and payable in full by the Company on the Revolving Credit Maturity Date, (iii) the aggregate outstanding principal of the Foreign Currency Revolving Loans shall be due and payable in full by the applicable Borrowers thereof on the Revolving Credit Maturity Date, and (iviii) the aggregate outstanding principal of the Swingline Loans shall be due and payable in full by the Company on the Swingline Maturity Date. The Company will repay the aggregate outstanding principal of each Series of Incremental Term Loans on the dates and in the amounts set forth in the applicable Incremental Term Loan Amendment.
(c) In the event that, at any time, the Aggregate sum of (x) the aggregate principal amount of Revolving Credit Exposure Loans outstanding at such time, and (y) the aggregate principal amount of Swingline Loans outstanding at such time (excluding the aggregate amount of any Swingline Loans to be repaid with proceeds of Dollar Revolving Loans made on the date of determination) shall exceed the aggregate Revolving Credit Commitments at such time (after giving effect to any concurrent termination or reduction thereof), (i) the Company Borrower will immediately prepay the outstanding principal amount of the Swingline Loans and (ii) and, to the extent of any excess remaining after prepayment in full of outstanding Swingline Loans, the Borrowers Borrower will (subject to Section 11.18) immediately prepay the outstanding principal amount of the Revolving Loans in the Dollar Amount amount of such excess; provided that, to the extent such excess amount is greater .
(d) Promptly upon (and in any event not later than the aggregate principal Dollar Amount two (determined as of the most recent Revaluation Date2) of Swingline Loans and Revolving Loans outstanding immediately prior to the application of such prepaymentBusiness Days after) its receipt thereof, the amount so prepaid shall be retained by the Administrative Agent and held in the Cash Collateral Account as cover for Letter of Credit Exposure, as more particularly described in Section 3.8, and thereupon such cash shall be deemed to reduce the aggregate Letter of Credit Exposure by an equivalent amount. In the event that, at any time, the aggregate principal Dollar Amount (determined as of the most recent Revaluation Date) of Foreign Currency Revolving Loans outstanding at such time shall exceed 105% of the Foreign Currency Subcommitment at such time (after giving effect to any concurrent termination or reduction thereof), the Borrowers Borrower will (subject to Section 11.18) prepay the outstanding principal amount of the Foreign Currency Revolving Loans in an amount equal to 25% of the Dollar Amount Net Cash Proceeds from any Equity Issuance and 100% of the Net Cash Proceeds from any Debt Issuance, and will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds.
(e) The Borrower will (i) promptly upon (and in any event not later than two (2) Business Days after) its receipt thereof, prepay the outstanding principal amount of the Loans in an amount equal to 100% of the excess of the Net Cash Proceeds from any Asset Disposition over $5,000,000, and (ii) within five (5) Business Days after the end of any month in which the Net Cash Proceeds from Asset Dispositions exceeds the amounts set forth below, prepay the outstanding principal amount of the Loans in an amount equal to 100% of the excess of the Net Cash Proceeds from any Asset Disposition over (x) together with the aggregate of the Net Cash Proceeds from all Asset Dispositions occurring within the 365-day period immediately preceding such Asset Disposition (but specifically excluding, if applicable, any Asset Dispositions occurring prior to the Closing Date), $10,000,000, or (y) together with the aggregate of the Net Cash Proceeds from all Asset Dispositions occurring after the Closing Date, $25,000,000, whichever is greater. The Borrower will deliver to the Administrative Agent, concurrently with such prepayment, a certificate signed by a Financial Officer of the Borrower in form and substance satisfactory to the Administrative Agent and setting forth the calculation of such Net Cash Proceeds. Notwithstanding the foregoing, nothing in this subsection shall be deemed to permit any Asset Disposition not expressly permitted under Section 7.4.
(f) Each prepayment of the Loans made pursuant to subsections (d) and (e) above shall be applied (i) first, to reduce the outstanding principal amount of the Term Loans, with such reduction to be applied to the scheduled principal payments on the Term Loans (as set forth in subsection (a) above) on a pro rata basis, (ii) second, to the extent of any excess remaining after application as provided in clause (i) above, to reduce the outstanding principal amount of the Swingline Loans, with a corresponding reduction to the Revolving Credit Commitments as provided in Section 2.5(b), and (iii) third, to the extent of any excess remaining after application as provided in clauses (i) and (ii) above, to reduce the outstanding principal amount of the Revolving Loans, with a corresponding reduction to the Revolving Credit Commitments as provided in Section 2.5(b). Within each Class of Loans, each payment or prepayment shall be applied first to prepay all Base Rate Loans, and any excess shall, at the option of the Borrower, be applied to prepay any LIBOR Loans of such Class immediately and/or deposited in a separate Prepayment Account (as defined below) for the Loans of such Class. The Administrative Agent shall apply any cash deposited in the Prepayment Account for any Class of Loans to prepay LIBOR Loans of such Class on the last day of the first their respective Interest Period ending thereafter Periods (or, if soonerat the direction of the Borrower, within thirty on any earlier date), in ascending order of length of the remaining portion of their then current Interest Periods, until all outstanding Loans of such Class have been prepaid or until the allocable cash on deposit in the Prepayment Account for such Class has been exhausted. For purposes of this Agreement, "Prepayment Account" for any Class of Loans shall mean an account established by the Borrower with the Administrative Agent and over which the Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this Section 2.6(f). The Administrative Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the LIBOR Loans of such Class to be prepaid; provided, however, that (30i) days the Administrative Agent shall not be required to make any investment that, in its sole business judgment, would require or cause the Administrative Agent to be in, or would result in any, violation of law, statute, rule or regulation, and (or immediately, ii) if an Event of Default shall then have occurred and be continuing, the selection of such investments shall be in the sole discretion of the Administrative Agent. Other than interest earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on such investments shall be deposited in the applicable Prepayment Account and reinvested and disbursed as set forth above. If the maturity of the Loans has been accelerated pursuant to Article VIII, the Administrative Agent may, in its sole discretion, apply all amounts on deposit in the Prepayment Account for any Class of Loans to satisfy any of the Obligations related to such Class of Loans (provided that such amounts shall be applied first to prepay all outstanding Base Rate Loans). The Borrower hereby pledges and assigns to the Administrative Agent, for its benefit and the benefit of the Lenders, each Prepayment Account established hereunder to secure the Obligations related to such Class of Loans. Each payment or prepayment of a LIBOR Loan made pursuant to the provisions of this Section on a day other than the last day of the Interest Period applicable thereto shall be made together with all amounts required under Section 2.18 to be paid as a consequence thereof.
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