Common use of Additional voluntary prepayment Clause in Contracts

Additional voluntary prepayment. The Borrower may also prepay (in whole but not in part only), without premium or penalty, but without prejudice to its obligations under clauses 22, 18.1 and 23.1, (a) the Contribution of any Lender to which such Borrower shall have become obliged to pay additional amounts under clause 18.1 or 23.1 or (b) any Lender's Contribution to which a Substitute Basis applies by virtue of clause 22. Upon any notice of such prepayment being given, the Commitment of the relevant Lender shall be reduced to zero and the amount of the Total Commitments shall be reduced accordingly.

Appears in 1 contract

Sources: Loan Agreement (Versatel Telecom International N V)

Additional voluntary prepayment. The Any Borrower may also prepay (in whole but not in part only), without premium or penalty, but without prejudice to its obligations under clauses 229.5 and 15.2, 18.1 and 23.1, (a) the Contribution of any Lender Bank to which such Borrower shall have become obliged to pay additional amounts under clause 18.1 9.5 or 23.1 or (b) any Lender's Contribution to which a Substitute Basis applies by virtue of clause 2215. 2. Upon any notice of such prepayment being given, the Commitment of the relevant Lender Bank shall be reduced to zero and the amount of the Total Commitments and each amount set out in clause 4.1.1 shall be reduced accordingly.

Appears in 1 contract

Sources: Supplemental Agreement (Global Telesystems Inc)