Notice of Optional Prepayment Sample Clauses
The Notice of Optional Prepayment clause defines the process by which a borrower can inform the lender of their intention to repay a loan, or a portion of it, before the scheduled due date. Typically, this clause requires the borrower to provide advance written notice specifying the amount and timing of the prepayment, and may outline any conditions or limitations, such as minimum prepayment amounts or potential fees. Its core function is to ensure clear communication and coordination between the parties, allowing the lender to manage their expectations and financial planning while giving the borrower flexibility to reduce debt early.
Notice of Optional Prepayment. The Company shall give the holder of each Note of a Series to be prepaid pursuant to paragraph 4C irrevocable written notice of such prepayment not less than 10 Business Days prior to the prepayment date, specifying such prepayment date, the aggregate principal amount of the Notes of such Series to be prepaid on such date, the principal amount of the Notes of such Series held by such holder to be prepaid on that date and that such prepayment is to be made pursuant to paragraph 4C. Notice of prepayment having been given as aforesaid, the principal amount of the Notes specified in such notice, together with interest thereon to the prepayment date and together with the Yield-Maintenance Amount, if any, herein provided, shall become due and payable on such prepayment date. The Company shall, on or before the day on which it gives written notice of any prepayment pursuant to paragraph 4C, give telephonic notice of the principal amount of the Notes to be prepaid and the prepayment date to each Significant Holder which shall have designated a recipient for such notices in the Purchaser Schedule attached hereto or the applicable Confirmation of Acceptance or by notice in writing to the Company.
Notice of Optional Prepayment. Lead Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the Swingline Lender) by telephone (confirmed by telecopy) of any optional prepayment hereunder (i) in the case of prepayment of a Borrowing of LIBO Rate Loans, not later than 1:00 p.m., New York City time, three Business Days (or such shorter period to which the Administrative Agent may consent) before the date of prepayment, (ii) in the case of prepayment of a Borrowing of Base Rate Loans, not later than 4:00 p.m., New York City time, on the date of prepayment or (iii) in the case of prepayment of a Swingline Loan, not later than 4:00 p.m., New York City time, on the date of prepayment. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid. Each notice of prepayment pursuant to this Section shall be irrevocable, except that Lead Borrower may, by subsequent notice to the Administrative Agent, revoke any such notice of prepayment if such notice of revocation is received not later than 10:00 a.m. (New York City time) on the day on which such prepayment is scheduled to occur, and, provided that (i) Lead Borrower reimburses each Lender pursuant to Section 3.02 for any funding losses within five Business Days after receiving written demand therefor and (ii) the amount of Loans as to which such recovation applies shall be deemed converted to (or continued as, as applicable) Base Rate Loans in accordance with the provisions of Section 2.08 as of the date of notice of revocation (subject to subsequent conversion in accordance with the provisions of this Agreement). Promptly following receipt of any such notice (other than a notice relating solely to Swingline Loans), the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.
Notice of Optional Prepayment. The Company shall give the holder of each Note of a Series irrevocable written notice of any prepayment pursuant to paragraph 4C not less than 5 Business Days prior to the prepayment date, specifying such prepayment date, the aggregate principal amount of the Notes of such Series to be prepaid on such date, the principal amount of the Notes of such Series held by such holder to be prepaid on such date and that such prepayment is to be made pursuant to paragraph 4C. Notice of prepayment having been given as aforesaid, the principal amount of the Notes specified in such notice, together with interest thereon to the prepayment date and together with the Make Whole Amount, if any, with respect thereto, shall become due and payable on such prepayment date.
Notice of Optional Prepayment. The Company shall give to the holder of each Note of a Series irrevocable written notice of any optional prepayment pursuant to paragraph 4B with respect to such Series not less than 30 days prior to the prepayment date, specifying (i) such prepayment date, (ii) the aggregate principal amount of the Notes of such Series to be prepaid on such date, (iii) the principal amount of the Notes of such holder to be prepaid on that date, and (iv) stating that such optional prepayment is to be made pursuant to paragraph 4B. Notice of optional prepayment having been given as aforesaid, the principal amount of the Notes specified in such notice, together with interest thereon to the prepayment date and together with the Yield-Maintenance Amount, if any, with respect thereto, shall become due and payable on such prepayment date.
Notice of Optional Prepayment. If the Company, with the agreement of the Required Purchasers, shall elect to prepay any Notes pursuant to Section 3.3 hereof, the Company shall give notice of such prepayment to Purchasers and each holder of the Notes to be prepaid not less than 30 days or more than 90 days prior to the date fixed for prepayment, specifying (a) the date on which such prepayment is to be made, (b) the principal amount of such Notes to be prepaid on such date, and (c) accrued interest applicable to the prepayment. Such notice shall be accompanied by a certificate of the president of the Company that such prepayment is being made in compliance with Section 3.3 hereof. Notice of prepayment having been so given, the aggregate principal amount of the Notes specified in such notice, together with accrued interest thereon shall become due and payable on the prepayment date set forth in such notice.
Notice of Optional Prepayment. The Company will give notice of any optional prepayment of the Notes to each holder of Notes not less than thirty (30) days nor more than sixty (60) days before the date fixed for prepayment, specifying:
(i) the date fixed for such prepayment;
(ii) the Section under which the prepayment is to be made and, if in respect of an IPO or a Total Asset Sale, providing a detailed description of such transaction;
(iii) the principal amount of each Note to be prepaid on such date;
(iv) the interest to be paid on each such Note, accrued to the date fixed for prepayment;
(v) the amounts and the due dates of the then remaining Required Principal Payments determined after giving effect to such prepayment; and
(vi) the calculation (with details) of an estimated Make-Whole Amount, if any, (calculated as if the date of such notice was the date of prepayment) due in connection with such prepayment. Notice of prepayment having been so given, the aggregate principal amount of the Notes to be prepaid specified in such notice, together with the Make-Whole Amount as of the specified prepayment date with respect thereto, if any, and accrued interest thereon shall become due and payable on the specified prepayment date. Two (2) Business Days prior to the making of such prepayment, the Company shall deliver to each holder of Notes by facsimile transmission a certificate of a Senior Financial Officer specifying the details of the calculation of such Make-Whole Amount as of the specified prepayment date.
Notice of Optional Prepayment. 5 4C. Partial Payments Pro Rata................................................5 4D.
Notice of Optional Prepayment. If the Loan Parties shall elect to prepay any Subordinated Notes pursuant to Section 3.3 hereof, the Loan Parties shall give notice of such prepayment to Agent, each holder of the Subordinated Notes to be prepaid and Senior Agent not less than thirty (30) days or more than ninety (90) days prior to the date fixed for prepayment, specifying (i) the date on which such prepayment is to be made, (ii) the principal amount of such Subordinated Notes to be prepaid on such date, and (iii) the premium, if any, and accrued interest applicable to the prepayment. Such notice shall be accompanied by a certificate of the Chairman of the Board of Directors, the President or the Vice President and of the Treasurer of Company that such prepayment is being made in compliance with Section 3.3 hereof and the Subordination Agreement. Notice of prepayment having been so given, the aggregate principal amount of the Subordinated Notes specified in such notice, together with accrued interest thereon and the premium, if any, shall become due and payable on the prepayment date set forth in such notice.
Notice of Optional Prepayment. The Company shall give the holder of each Subordinated Note irrevocable written notice of any prepayment pursuant to Paragraph 4B hereof not less than fifteen (15) and not more than 60 days prior to the prepayment date, specifying (1) such prepayment date, (2) the aggregate principal amount of the Subordinated Notes, and of the Subordinated Notes held by such holder, to be prepaid on such date and (3) whether such prepayment is to be made pursuant to Paragraph 4B(1), (2) or (3) hereof. Notice of prepayment having been given as aforesaid, the principal amount of the Subordinated Notes specified in such notice, together with interest thereon to the prepayment date and together with the Make-Whole Amount, or, as applicable, the ECF Prepayment Premium, with respect thereto, shall become due and payable on such prepayment date. In the event prepayment is to be made pursuant to Paragraph 4B(2) hereof, such notice shall also include a description in reasonable detail of the Liquidity Event giving rise to the right to make such prepayment. In the event prepayment is to be made pursuant to Paragraph 4B(3) hereof, such notice shall also include (a) a certification that the precondition to such prepayment set forth in Paragraph 4B(3) has been satisfied, (b) a statement of the aggregate principal amount of all prepayments theretofore made under Paragraph 4B(3), and (c) a certification that after giving effect to the proposed prepayments, all prepayments under Paragraph 4B(3) will not exceed $15,000,000.
Notice of Optional Prepayment. The Company shall give the holder of each Note irrevocable written notice of any prepayment of such holder's Note pursuant to paragraph 4B not less than 10 Business Days prior to the prepayment date, specifying such prepayment date, the date of issuance of and the principal amount of the Notes, and of the Notes held by such holder, to be prepaid on such date and stating that such prepayment is to be made pursuant to paragraph 4B. Notice of prepayment having been given as aforesaid, the principal amount of the Notes specified in such notice, together with interest thereon to the prepayment date and together with the premium, if any, herein provided, shall become due and payable on such prepayment date. So long as you shall hold any Note, the Company shall, on or before the day on which it gives written notice of any prepayment pursuant to paragraph 4B, advise an investment professional in the office set forth in the Purchaser Schedule as the office for communication to you, by telephone of the principal amount of the Notes to be prepaid and the prepayment date.