Common use of Mandatory Prepayments and Mandatory Reductions of Revolving Clause in Contracts

Mandatory Prepayments and Mandatory Reductions of Revolving. Loan Commitments. The Loans shall be prepaid and/or the Revolving Loan ---------------- Commitments shall be permanently reduced in the amounts and under the circumstances set forth below, all such prepayments and/or reductions to be applied as set forth below or as more specifically provided in subsection 2.4B(iv): (a) Prepayments and Reductions From Net Asset Sale Proceeds. ------------------------------------------------------- Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to any Net Asset Sale Proceeds received by Company or any of its Subsidiaries in respect of any Asset Sale no later than the 271st day following the date thereof; provided that so long as no Event of Default or -------- Potential Event of Default shall have occurred and be continuing, any Net Asset Sale Proceeds to the extent that such Net Asset Sale Proceeds are reinvested in the same or similar assets or other assets useful in the Business of Company or its Subsidiaries having a comparable value, within 270 days of such sale need not be applied to the mandatory prepayment of the Loans pursuant to this subsection 2.4B(iii)(a).