Limitation on Partial Prepayments Clause Samples

A Limitation on Partial Prepayments clause restricts a borrower's ability to make partial payments toward the principal of a loan before its scheduled due dates. Typically, this clause sets minimum amounts for any partial prepayment or limits the frequency with which such payments can be made, and may require advance notice to the lender. Its core function is to provide predictability for the lender regarding cash flow and interest income, while preventing administrative burdens or disruptions that could arise from frequent or small unscheduled payments.
Limitation on Partial Prepayments. In no event shall Lender have any obligation to accept a partial prepayment.
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Limitation on Partial Prepayments. Except as set forth in Section 2.4(e), in no event shall Lender have any obligation to accept a partial prepayment.
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Limitation on Partial Prepayments. Except as otherwise expressly provided herein or in the other Loan Documents, in no event shall Lender have any obligation to accept a partial prepayment.
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Limitation on Partial Prepayments. The Lender shall have no obligation to accept a partial prepayment (i) more often than once in any period of twelve (12) months beginning on the date of this Note or any anniversary thereof, and (ii) unless the Principal Amount being prepaid is greater than one percent (1%) of the Original Principal Amount of this Note.
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Limitation on Partial Prepayments. Except as otherwise expressly permitted by Section 2.4(a) of the Loan Agreement, Lender shall not have any obligation to accept a partial prepayment.
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Limitation on Partial Prepayments. Except as otherwise expressly permitted herein (including, without limitation, prepayments resulting from the application of Awards or Insurance Proceeds as provided herein or in connection with a Partial Release Event), in no event shall Lender have any obligation to accept a partial prepayment. As a condition to any such partial prepayment, the Mezzanine Loan must be repaid in accordance with the terms of the Mezzanine Loan Agreement.
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Limitation on Partial Prepayments. In no event shall Lender have any obligation to accept a partial prepayment, except in connection with a prepayment in full of the Junior Mezzanine Loan or thereafter, in which case Lender will accept a partial prepayment of up to $10,000,000.00.
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Related to Limitation on Partial Prepayments

  • Partial Prepayments Each partial prepayment of the Loans under §3.3 shall be in a minimum Dollar Equivalent amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrowers, to the principal of Revolving Credit Loans (and with respect to each category of Loans, first to the principal of Base Rate Loans, and then to the principal of LIBOR Rate Loans).

  • Allocation of Partial Prepayments In the case of each partial prepayment of the Notes pursuant to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

  • Optional Prepayment of Loans (a) The Borrower shall have the right to prepay the Loans on not less than three (3) Business Days’ prior written notice to the Senior Facility Agent. (b) Any partial prepayment of the Loans under this Section 4.04 shall be in an amount that is not less than twenty million Dollars ($20,000,000). (c) All prepayments under this Section 4.04 shall be made by the Borrower to the Senior Facility Agent for the account of the Senior Lenders and shall be applied by the Senior Facility Agent in accordance with Section 4.04(d). Each notice of optional prepayment shall indicate whether the Loan being prepaid (i) was used for Gas Working Capital Purposes, General Working Capital Purposes or DSR Purposes and (ii) was a Working Capital Loan, Swing Line Loan or an LC Loan. Each notice of optional prepayment will be irrevocable, except that such notice given by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities and/or the issuance of other debt, in which case such notice may be revoked by the Borrower (by notice to the Senior Facility Agent on or prior to the specified effective date) if such condition is not satisfied. The Borrower shall pay any Break Costs incurred by any Senior Secured Party as a result of such notice and revocation. (d) With respect to each prepayment to be made pursuant to this Section 4.04, on the date specified in the notice of prepayment delivered pursuant to Section 4.04(a), the Borrower shall pay to the Senior Facility Agent the sum of the following amounts: (i) the principal of, and accrued but unpaid interest on, the Loans to be prepaid; (ii) any additional amounts required to be paid under Section 5.05 (Funding Losses); and (iii) any other Obligations due to the respective Senior Lenders in connection with any prepayment under the Financing Documents.

  • Optional Prepayment (a) Subject to payment of any applicable premium as set forth in paragraph (b) below, the Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’ prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in the case of Eurodollar Loans, or written or fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative Agent before 12:00 (noon), New York City time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $100,000 and not less than $1,000,000. (b) Each prepayment of Loans made pursuant to Section 2.11(a) shall be made together with a prepayment premium in an amount equal to (i) if such prepayment is made prior to the first anniversary of the Closing Date, 2.00%, and (ii) if such prepayment is made on or after the first anniversary of the Closing Date but prior to the second anniversary of the Closing Date, 1.00%, in each case of the aggregate principal amount of Loans being prepaid. (c) Each notice of prepayment shall specify the prepayment date, the principal amount of each Borrowing (or portion thereof) to be prepaid, shall be irrevocable (unless such notice is expressly conditioned upon a refinancing of the Credit Facility, in which case such notice may be rescinded if such refinancing shall not be consummated or shall otherwise be delayed) and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein. All prepayments under this Section 2.11 shall be subject to paragraph (b) above (if applicable) and to Section 2.15 but otherwise without premium or penalty. All prepayments under this Section 2.11 shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment.