Appearance
Mandatory Repayment
Definition
The parties agree under what circumstances the Borrower will be obliged to immediately repay the loan.
Example
If the Term Loans are accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Lenders, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of: (i) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (ii) the Final Payment, (iii) the Prepayment Fee, plus (iv) all other Obligations that are due and payable, including Lenders Expenses and interest at the Default Rate with respect to any past due amounts.