Optional and Mandatory Prepayment Sample Clauses
Optional and Mandatory Prepayment. (a) The Borrower shall have the right at any time to prepay the whole, or any part, of the unpaid principal amount of the Loan, without premium or penalty, upon the terms hereinafter set forth, and provided that interest on the principal amount thereof to be so prepaid accrued to the date of such prepayment shall be paid concurrently therewith; provided, however, that the Borrower shall not prepay the Loan, or any part thereof, unless such prepayment upon all the Notes is contemporaneously made, pro rata based upon the outstanding principal amount of the Notes, respectively.
(b) Upon the consummation from time to time by the Borrower of any sale for cash of any debt or equity securities, or of any other financing transaction for borrowed money (other than capital leasing transactions or purchase money financings), and subject to the Subordination Agreements, the net proceeds thereof shall in each case forthwith be applied by the Borrower to the prepayment of the Loan, without premium or penalty, but together with all interest on the principal amount thereof to be so prepaid accrued to the date of such prepayment; it being understood and agreed that any prepayment made by the Borrower pursuant to this paragraph (b) shall be made upon all Notes contemporaneously, pro rata based upon the outstanding principal amount of the Notes, respectively.
(c) Notices of prepayment shall be given by the Borrower to the Lenders, respectively, not less than five days prior to the date specified therein for prepayment. Upon giving of notice of prepayment as aforesaid, the Loan or portion thereof so specified for prepayment shall on the prepayment date specified in such notice become due and payable, and from and after the prepayment date so specified (unless the Borrower shall default in making such prepayment) interest on the principal of the Loan or portion thereof so specified for prepayment shall cease to accrue, and the principal of the Loan or portion thereof so specified for prepayment shall be paid by the Borrower as aforesaid.
Optional and Mandatory Prepayment. At any time prior to the Maturity Date the Borrower shall have the right to make full or partial payments of the unpaid principal balance and the Interest payable under this Note (“Prepayment”); provided that in the event any principal balance is prepaid prior to the six-month anniversary of the Closing Date, the total amount of Interest that shall be paid with respect to the portion of the principal amount so prepaid (including any previous payments of Interest) shall be equal to six months of Interest.
Optional and Mandatory Prepayment. (a) The Borrower shall have the right at any time and from time to time to prepay (in a manner indicated by the Borrower that is not otherwise inconsistent with the terms of this Agreement) any Term Loans, in whole or in part, upon not fewer than five (5) Business Days' prior written or telecopy notice (or telephone notice promptly confirmed by written or telecopy notice) to the Administrative Agent; provided, however, that (i) any prepayment must occur on an Interest Payment Date or, if not on an Interest Payment Date, must be accompanied by all break funding costs incurred by the relevant Lenders associated with such prepayment and (ii) each partial prepayment of Term Loans shall be in a minimum amount equal to the lesser of (A) five million Dollars ($5,000,000) or any integral multiple of one million Dollars ($1,000,000) in excess thereof and (B) the remaining amount of such Term Loan then outstanding.
(b) Upon the occurrence of an Event of Damage (excluding a Minor Loss but including an Event of Total Loss) or an Event of Taking (excluding a Minor Loss but including an Event of Total Taking) (i) in which the Borrower is not permitted to Restore the Pipeline pursuant to Section 5.17 or 5.18, as applicable, or (ii) in which the conditions to disbursement set forth in Section 5.17(c) are not satisfied, or (iii) in the event that there are excess Insurance Proceeds or Condemnation Proceeds available once Restoration has been completed, any associated Insurance Proceeds or Condemnation Proceeds (in the case of clauses (i) and (ii) above) or such excess Insurance Proceeds or Condemnation Proceeds (in the case of clause (iii) above) shall be used to prepay the principal amount of the outstanding Loans.
(c) The proceeds of any sale, lease, licensing, transfer, assignment, or other disposition of any Pipeline Asset in excess of five million Dollars ($5,000,000) and of all such transactions in the aggregate in excess of five million Dollars ($5,000,000) (other than proceeds expended or to be expended by the Borrower to replace such Pipeline Asset in accordance with Section 6.11) shall be used to prepay, on a pro rata basis, the principal
Optional and Mandatory Prepayment. The Loan Parties may prepay principal and accrued interest on the Term Loan at any time, in any amount and without penalty. All prepayments of principal and interest shall be applied first to accrued interest, and second to principal. Subject to compliance with the Revolving Credit Facility, the Loan Parties shall, within two (2) Business Days of receipt thereof, apply all cash proceeds of an Equity Offering or Indebtedness Offering, net of taxes and customary fees, commissions, costs and other expenses incurred in connection therewith, to prepay the outstanding principal balance of the Term Loan plus any accrued interest.
Optional and Mandatory Prepayment. At any time prior to the Maturity Date the Borrower shall have the right to make full or partial payments of the unpaid principal balance and the Interest payable under this Note (“Prepayment”); provided that in the event any principal balance is prepaid prior to the six-month anniversary of the Closing Date, the total amount of Interest that shall be paid with respect to the portion of the principal amount so prepaid (including any previous payments of Interest) shall be equal to six months of Interest. The Borrower shall prepay the Note in full out of the proceeds of a new debt or equity capital raise with net proceeds of more than $5,000,000.
Optional and Mandatory Prepayment. Section 7.1. Obligation to Prepay Installments. Section 7.2. Option to Prepay Installments. Section 7.3. Amount of Prepayment in Certain Events.
Optional and Mandatory Prepayment. 21 Section 7.1. Obligation to Prepay Installments..................... 21 Section 7.2. Option to Prepay Installments......................... 21 Section 7.3. Amount of Prepayment in Certain Events................ 22 Section 7.4. Option to Prepay Installments for Optional Redemption of Bonds........................................... 23 Section 7.5. Notice of Prepayment................................
Optional and Mandatory Prepayment. 37 Interest ...................................................................................................................................38 Fees .........................................................................................................................................39 Regulatory Changes in Capital Requirements; Replacement of a Lender.........39
Optional and Mandatory Prepayment. 38 6.4 Conversion and Continuation Options.......................... 41 6.5
Optional and Mandatory Prepayment. (a) The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty except as otherwise provided in subsection 3.3(b) below, upon at least three Business Days' in the case of Eurodollar Loans, or one Business Day's in the case of ABR Loans, irrevocable notice to the Facility Manager, specifying the date and amount of prepayment and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof and, if of a combination thereof, the amount allocable to each. Upon receipt of any such notice the Facility Manager shall promptly notify each Lender. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with any amounts payable pursuant to subsection 3.13 and accrued interest to such date and premium, if any, on the amount prepaid. Partial prepayments of the Loans shall be applied to the remaining installments of principal thereof in direct order of their scheduled maturities. Amounts prepaid on account of the Loans may not be reborrowed. Partial voluntary prepayments shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof.
(b) Any voluntary prepayment of the Loans made on or prior to the third anniversary of the Closing Date shall be subject to the payment of a premium, as set forth below: