Common use of Optional Loan Prepayments Clause in Contracts

Optional Loan Prepayments. Subject to payment of the amounts described in Sections 2.10(c), the Co-Borrowers may at any time and from time to time prepay the Loans, in whole or in part, upon irrevocable notice delivered to the Administrative Agent no later than 10:00 A.M., Pacific time, three Business Days prior thereto, in the case of Eurodollar Loans that are Formula-Based Revolving Loans, and no later than 10:00 A.M., Pacific time, one Business Day prior thereto, in the case of ABR Loans, which notice shall specify the date and amount of the proposed prepayment; provided that if a Eurodollar Loan that is a Formula-Based Revolving Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Co-Borrowers shall also pay any amounts owing pursuant to Section 2.21; provided further that if such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing or in connection with the consummation of a specified transaction, such notice of prepayment may be revoked if the financing or specified transaction is not consummated. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof.

Optional Loan Prepayments. Subject to payment of the amounts described in Sections 2.10(c), the Co-Borrowers (a) The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty (other than as specified in Section 2.9(d)), upon irrevocable notice delivered to the Administrative Agent no later than 10:00 A.M., Pacific time, 11:00 A.M. three (3) Business Days prior thereto, in the case of Eurodollar Loans that are Formula-Based Revolving SOFR Loans, and no later than 10:00 A.M., Pacific time, 11:00 A.M. one (1) Business Day prior thereto, in the case of ABR Loans, which notice shall specify the date and amount of the proposed prepayment; provided that if a Eurodollar Loan that is a Formula-Based Revolving Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Co-Borrowers shall also pay any amounts owing pursuant to Section 2.21; provided further and (ii) that if such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing or in connection with is otherwise conditioned on the consummation occurrence of a specified transactionevent, such notice of prepayment may be revoked or extended if the financing or such specified transaction event is not consummated (or the Borrower reasonably determines that it does not expect it to be consummated) on the expected date. Prepayments made pursuant to this Section 2.11 shall be applied to the prepayment of installments due in respect of the Loans in direct order of maturity (unless otherwise directed by the Borrower), in accordance with Sections 2.3 and 2.18(b). (b) Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. The foregoing provisions set forth in this Section 2.11 will not apply with respect to any Discounted Prepayment governed by Section 2.29 or to any assignments to the Borrower or any Subsidiary made pursuant to Section 10.6(h).