Application of Prepayments Reductions. Unless otherwise specified by the Borrower in a notice of prepayment, (a) any amount to be applied pursuant to Section 2.7A or C shall be applied to prepay Loans to the full extent thereof. (b) considering each Type of Loan being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by the Borrower pursuant to Section 2.9C.
Appears in 2 contracts
Sources: Bridge Loan Agreement (Hospira Inc), Term Loan Agreement (Hospira Inc)
Application of Prepayments Reductions. Unless otherwise Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified by the Borrower in a the applicable notice of prepayment,
(a) ; provided that in the event the Borrower fails to specify the Loans to which any amount to such prepayment shall be applied pursuant to Section 2.7A or C applied, such prepayment shall be applied as follows: first, to prepay repay outstanding Base Rate Loans to the full extent thereof; and second, to repay outstanding LIBOR Rate Loans to the full extent thereof.
(b) considering each Type of Loan being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to LIBOR Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by the Borrower pursuant to Section 2.9C.
Appears in 2 contracts
Sources: Revolving Loan Agreement (CURO Group Holdings Corp.), Revolving Loan Agreement (CURO Group Holdings Corp.)
Application of Prepayments Reductions. Unless otherwise Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in a the applicable notice of prepayment,
(a) ; provided, in the event the Borrower fails to specify the Loans to which any amount to such prepayment shall be applied pursuant to Section 2.7A or C applied, such prepayment shall be applied as follows: first, to prepay Loans to the full extent thereof.
(b) considering each Type of Loan being prepaid separately, any prepayment thereof shall be applied first to repay outstanding Base Rate Loans to the full extent thereof before application thereof; and second, to LIBOR Rate Loansrepay outstanding Term SOFR Loans to the full extent thereof, in each case in a manner which minimizes as the amount of any payments required to be made by the Borrower pursuant to Section 2.9C.Administrative Agent may determine.
Appears in 1 contract
Sources: Revolving Credit and Guaranty Agreement (Compass, Inc.)