Excess cash flow recapture clause samples
(g) Excess Cash Flow Recapture. The Borrowers shall prepay the Obligations in an amount equal to 50% of the Excess Cash Flow for the Borrowers’ Fiscal Year 2017. The Borrowers shall make such payment on the date that is ten (10)days after the earlier of (i)the date on which the Borrowers deliver their annual audited financial statements for Fiscal Year 2017 to the Administrative Agent pursuant to Section6.04(a) and (ii)the date on which the Borrowers are required to deliver such financial statements pursuant to Section6.04(a). The Administrative Agent shall apply such payment to the outstanding principal amount of the Term Loans in the inverse order of maturity.
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