Required Prepayments of the Notes Sample Clauses

The "Required Prepayments of the Notes" clause mandates that the borrower must make certain payments on the outstanding notes before their scheduled maturity. Typically, this clause specifies events or conditions—such as asset sales, excess cash flow, or receipt of insurance proceeds—that trigger these mandatory prepayments. By requiring early repayment under defined circumstances, the clause protects noteholders by reducing credit risk and ensuring that available funds are used to pay down debt, rather than being diverted elsewhere.
Required Prepayments of the Notes. (a) Unless the aggregate principal amount of the then outstanding Notes shall have become due and payable pursuant to Section 10.01, the Company shall apply to the prepayment of the Notes, without premium, and there shall become due and payable, the sum of $8,500,000 on August 12 in each of the years 2005 through 2008 (or, in the case of any such prepayment, such lesser principal amount of the Notes as shall then be outstanding), leaving $8,500,000 principal amount (or such other principal amount thereof as then remains unpaid) of the Notes for payment at their stated maturity on August 12, 2009. Each such prepayment shall be at 100% of the principal amount of the Notes so prepaid, together with all accrued and unpaid interest thereon to the date of prepayment. No partial prepayment of the Notes pursuant to Section 5.02 shall relieve the Company from its obligation to make the required prepayments provided for in this Section 5.01. (b) Whenever any prepayment to be made under this Section 5.01 shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day and the amount of such prepayment shall bear interest at the applicable rate during such extension.
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Required Prepayments of the Notes. On each of the dates set forth in the following table, the Company will prepay the principal amount of the Notes set forth opposite such date in such table (or such lesser principal amount of the Notes as shall at the time be outstanding), at the principal amount of the Notes so prepaid, without premium, together with interest accrued thereon: Principal Amount Date of Prepayment of Prepayment --------------------------------- ---------------------------- December __, 2003 $27,500,000 December __, 2004 27,500,000 December __, 2005 27,500,000 December __, 2006 27,500,000 December __, 2007 27,500,000 December __, 2008 27,500,000 December __, 2009 27,500,000 Any partial prepayment of the Notes pursuant to Section 9.2, 9.3 or (to the extent not applied to satisfy a prepayment required under this Section 9.1) 9.4 shall be applied to reduce each prepayment thereafter required to be made pro rata, but otherwise no acquisition of the Notes by the Company or any of its Affiliates, shall relieve the Company from its obligation to make the required prepayments provided for in this Section 9.1. The Company shall notify the holders of the Notes of any application provided for in the immediately preceding sentence five days prior to such application. On the maturity date, the Company will pay the then outstanding principal amount of the Notes together with interest accrued thereon.
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Required Prepayments of the Notes. Each Series of Notes shall be subject to required prepayments, if any, set forth in the Notes of such Series.
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Required Prepayments of the Notes. (a) The Series A Notes shall not be subject to a required prepayment prior to the final maturity thereof. (b) On March 30, 2011 and on each March 30 thereafter to and including March 30, 2014, the Obligors will prepay $3,000,000 aggregate principal amount of the Series B Notes (or such lesser principal amount of the Series B Notes as shall at the time be outstanding), at the principal amount of the Series B Notes so prepaid, without premium, together with interest accrued thereon. No acquisition of the Series B Notes by either Obligor or any of their Affiliates shall relieve the Obligors from their obligation to make the required prepayments provided for in this Section 9.1(b). (c) Any partial prepayment of the Notes pursuant to Section 9.2, 9.3 or 9.4 shall be applied pro rata to the Series A Notes and the Series B Notes then outstanding to reduce (i) in the case of the Series A Notes, the outstanding principal amount of the Series A Notes and (ii) in the case of the Series B Notes, the prepayments required under Section 9.1(b) pro rata; provided that, in the case of the Series B Notes, any amounts prepaid pursuant to Section 9.3 on March 30, 2011 or any March 30 thereafter to and including March 30, 2014, may be applied first to satisfy the prepayment required on such date under Section 9.1(b). (d) On the maturity date of each series of Notes, the Obligors will pay the then outstanding principal amount of such series of Notes together with interest accrued thereon.
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Required Prepayments of the Notes. (a) On each Quarterly Payment Date beginning with September 28, 2006 and on each Quarterly Payment Date thereafter, to and including the Quarterly Payment Date immediately preceding the Maturity Date, the Issuer shall make a principal payment in respect of the Notes in an aggregate amount equal to (x) the Dedication Rate multiplied by (y) the Adjusted Net Cash Flow of the ANCF Quarter applicable thereto, in immediately available funds for the account of Holders. If any principal or interest amount payable under the Notes remains outstanding at the Maturity Date, such amount must be paid in full by the Issuer to the Holders in immediately available funds on such Maturity Date. (b) If the Requisite Holders shall, in their sole discretion approve the sale of any Collateral, Issuer shall make a principal payment in respect of the Notes in an aggregate amount equal to the sales proceeds received by Issuer net only of reasonable out-of-pocket costs of such sale paid to non-Affiliates of Issuer.
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Required Prepayments of the Notes. (a) Upon the receipt by the Company or any of its Subsidiaries of Net Cash Proceeds from any Asset Disposition, the Company shall prepay the outstanding Accreted Principal Amount of the Notes, together with accrued and unpaid interest thereon, at a premium equal to the then applicable Premium Amount, in an amount equal to such Net Cash Proceeds. (b) Upon the receipt by the Company or any of its Subsidiaries of net proceeds from any sale or issuance of their respective Capital Stock or Stock Equivalents, the Company shall prepay the outstanding Accreted Principal Amount of the Notes, together with accrued and unpaid interest thereon, at a premium equal to the then applicable Premium Amount, in an amount equal to such net proceeds. (c) Upon the receipt by the Company or any of its Subsidiaries of any proceeds of insurance maintained pursuant to Section 8.4(b), the Company shall prepay the outstanding Accreted Principal Amount of the Notes, together with accrued and unpaid interest thereon, at a premium equal to the then applicable Premium Amount, in an amount equal to such proceeds to the extent such proceeds are not applied pursuant to Section 8.4(b).
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Required Prepayments of the Notes. On each of the dates set forth in the following table, the Company will prepay the principal amount of the Notes set forth opposite such date in such table (or such lesser principal amount of the Notes as shall at the time be outstanding), at the principal amount of the Notes so prepaid, without premium, together with interest accrued thereon: Principal Amount Date of Prepayment of Prepayment ----------------------------- ------------------------------ June 30, 2005 $9,000,000 June 30, 2006 $9,000,000 June 30, 2007 $9,000,000 June 30, 2008 $9,000,000 Any partial prepayment of the Notes pursuant to SECTION 9.2 or 9.3 and any acquisition of Notes by the Company or any of its Subsidiaries or either General Partner made pursuant to SECTION 9.7 shall be applied to reduce each prepayment thereafter required to be made pro rata, 1. The Company shall notify the holders of the Notes of any application provided for in the immediately preceding sentence five days prior to such application. On the maturity date, the Company will pay the then outstanding principal amount of the Notes together with interest accrued thereon.
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Required Prepayments of the Notes. Each Series of Notes shall be subject to required prepayments, if any, set forth in the Notes of such Series, provided that upon any partial prepayment of the Notes of any Series pursuant to Section 8.2, the principal amount of each required prepayment of the Notes of such Series becoming due under this Section 8.1 on and after the date of such partial prepayment shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes of such Series is reduced as a result of such partial prepayment.
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Required Prepayments of the Notes. (a) Upon the receipt by the Company or any of its Subsidiaries of Net Cash Proceeds from any Asset Disposition, the Company shall prepay the outstanding Accreted Principal Amount of the Notes, together with accrued and unpaid interest thereon, at a premium equal to the then applicable Premium Amount, in an amount equal to such Net Cash Proceeds. (b) Upon the receipt by the Company or any of its Subsidiaries of net proceeds from any sale or issuance of their respective Capital Stock or Stock Equivalents, the Company shall prepay the outstanding Accreted Principal Amount of the Notes, together with accrued and unpaid interest thereon, at a premium equal to the then applicable Premium Amount, in an amount equal to such net proceeds. (c) Upon the receipt by the Company or any of its Subsidiaries of any proceeds of insurance maintained pursuant to Section 8.4(b), the Company shall prepay the outstanding Accreted Principal Amount of the Notes, together with accrued and unpaid interest thereon, at a premium equal to the then applicable Premium Amount, in an amount equal to such proceeds to the extent such proceeds are not applied pursuant to Section 8.4(b).
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Related to Required Prepayments of the Notes

  • Prepayment of the Notes In addition to the payment of the entire unpaid principal amount of the Notes at the final maturity thereof, the Company will make required, and may make optional, prepayments in respect of the Notes as hereinafter provided.

  • Payment and Prepayment of the Notes Section 8.1 Required Payment Section 8.2 Optional Prepayments with Make-Whole Amount Section 8.3 Change in Control

  • Required Prepayments 15 Section 8.2. Optional Prepayments with Make-Whole Amount....................................16 Section 8.3.

  • Prepayments, Etc of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement and (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.02 and refinancings and refundings of such Indebtedness in compliance with Section 7.02(d).

  • Mandatory Prepayments of Loans (a) If the Agent notifies the Borrower at any time that the Total Revolving Usage at such time exceeds the Aggregate Revolving Commitment then in effect, then, within two Business Days after receipt of such notice, the Borrower shall prepay Loans and/or the Borrower shall Cash Collateralize (or provide other Backup Support for) the L/C Obligations in an aggregate amount sufficient to reduce the Total Revolving Usage as of such date of payment to an amount not to exceed 100% of the Aggregate Revolving Commitment then in effect. (b) If the Borrower or any Subsidiary receives any Net Cash Proceeds from any of the following events, the Borrower shall, for so long as any Term Loans are outstanding, apply such Net Cash Proceeds at the following times and in the order of application set forth in subsection (d) below (any such application, a “Proceeds Application”): (i) Within five Business Days following the receipt of any Net Cash Proceeds from any Disposition pursuant to Section 8.02(j) or Recovery Event (in each case excluding, for the avoidance of doubt, amounts reinvested or to be reinvested as contemplated by the definition of “Net Cash Proceeds”), the Borrower shall make a Proceeds Application in an amount equal to the amount of such Net Cash Proceeds. (ii) Within five Business Days following the receipt of any Net Cash Proceeds from (x) the issuance of any Indebtedness (other than Indebtedness permitted by Section 8.05 (other than Permitted Credit Agreement Refinancing Debt)) or (y) any increase in the Outstanding Securitization Amount above the highest Outstanding Securitization Amount, if any, previously in effect, the Borrower shall make a Proceeds Application in an amount equal to the amount of such Net Cash Proceeds. (c) Within 10 days of the date financial statements and the related compliance certificate have been delivered pursuant to Section 7.01(a), commencing with the financial statements and related compliance certificate relating to the fiscal year ending December 31, 2019, the Borrower shall prepay Term Loans in an aggregate principal amount equal to: (i) the ECF Percentage of Excess Cash Flow for the fiscal year covered by such financial statements, minus (ii) the aggregate amount of all optional prepayments and repurchases of Loans (including Incremental Facilities, Other Term Loans and Other Revolving Loans secured by the Collateral on a pari passu basis with the Obligations) (in the case of revolving indebtedness, to the extent accompanied by a permanent reduction of the corresponding commitment and limited, in the case of below par repurchases, to the amount actually paid in cash to repurchase such Indebtedness), in each case, (A) made during such fiscal year or following the end of such fiscal year and prior to the date that a prepayment would be due under this Section 2.09(c) (provided, with respect to any such amount following the end of such fiscal year, such amount is not included in any subsequent calculation pursuant to this clause (c)), (B) to the extent not financed with the proceeds of long-term indebtedness (other than revolving indebtedness) and (C) to the extent not otherwise deducted in the calculation of Excess Cash Flow; provided, no payment shall be required if such amount is equal to or less than $10,000,000. (d) Except to the extent any Incremental Amendment or Extension Amendment provides that the Term Loans established thereby shall receive a lesser amount from any prepayment pursuant to clauses (b) or (c) above, each prepayment pursuant to clauses (b) and (c) above shall be applied ratably to the Term Loan(s) of each Class in proportion to the original principal amounts thereof, and shall be applied, without premium or penalty, but subject to Section 4.04, to the scheduled installments of principal of the applicable Term Loans in the direct order of maturity or as the Borrower may otherwise direct. Notwithstanding the foregoing, if, at the time that any such prepayment would be required, the Borrower is required to repay or repurchase or to offer to repurchase or repay Indebtedness secured by the Collateral on a pari passu basis with the Obligations pursuant to the terms of the documentation governing such Indebtedness with all or a portion of the applicable Net Cash Proceeds or Excess Cash Flow (such Indebtedness required to be repaid or repurchased or to be offered to be so repaid or repurchased, “Other Applicable Indebtedness”), then the Borrower may apply such Net Cash Proceeds or Excess Cash Flow, as the case may be, on a pro rata basis to the prepayment of the Term Loans and to the repayment or repurchase of Other Applicable Indebtedness, and the amount of prepayment of the Term Loans that would have otherwise been required pursuant to this Section 2.09 shall be reduced accordingly (for purposes of this proviso pro rata basis shall be determined on the basis of the aggregate outstanding principal amount of the Term Loans and Other Applicable Indebtedness at such time, with it being agreed that the portion of Net Cash Proceeds or Excess Cash Flow allocated to the Other Applicable Indebtedness shall not exceed the amount of such Net Cash Proceeds or Excess Cash Flow required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of such Net Cash Proceeds or Excess Cash Flow shall be allocated to the Term Loans in accordance with the terms hereof). (e) So long as any Term Loans remain outstanding, any Term Lender may elect to decline the entire portion of the prepayment of its Term Loans pursuant to clauses (b) or (c) of this Section 2.09 by delivering written notice of such election to the Agent within three days of such prepayment being due. The aggregate amount of the prepayment that would have been applied to prepay such Term Loans but were so declined shall be returned to the Borrower as promptly as practicable.