Optional Prepayment of Notes Clause Samples

Optional Prepayment of Notes. Upon the agreement of the Company and the Required Purchasers, the Company may prepay to Purchasers, the outstanding principal amount of the Notes in whole or in part in multiples of $5,000, or such lesser amount as is then outstanding, plus the accrued interest to the date set for prepayment:

Optional Prepayment of Notes. (a) Subject to the terms of this Section 3.3(a), commencing on June 1, 2006, the Company may prepay the outstanding principal amount of the Notes in whole or in part in multiples of $100,000, or such lesser amount as is then outstanding, at any time at a price equal to the principal amount so prepaid, plus (i) any accrued and unpaid interest on the amount prepaid to the date set for prepayment, plus (ii) in the event prepayment occurs on or prior to May 31, 2008, a prepayment fee, representing the amortization of certain of the Purchasers' costs incurred in connection with the purchase of the Notes, equal to the principal amount prepaid multiplied by the following percentage: (b) Subject to the terms of this Section 3.3(b), the Company may prepay with the net proceeds from one or more sales or issuances of any capital stock of the Company the outstanding principal amount of the Notes at any time prior to the third (3rd) anniversary of the Closing Date at a price equal to the principal amount so prepaid, plus (i) any accrued and unpaid interest on the amount prepaid to the date set for prepayment, plus (ii) a prepayment fee equal to the principal amount prepaid multiplied by twelve percent (12.0%); provided that the aggregate principal amount prepaid under this Section 3.3(b) shall not exceed thirty-five percent (35%) of the original principal amount of the Notes. (c) In the case of a partial prepayment of the Notes pursuant to Section 3.3(a) or (b), such prepayment shall be applied ratably to the Notes outstanding at the time of such prepayment, in accordance with the outstanding principal amounts thereof.

Optional Prepayment of Notes. The Company shall have the right at its option at any time to prepay the outstanding principal and accrued and unpaid interest on the Notes, in whole or in part, without premium or penalty; provided that the Company notifies the affected Purchasers of the date that it intends to make payment on the Note not less than five (5) Business Days prior to such date. Any prepayment of the Notes shall be accompanied by the interest accrued and unpaid on the prepaid principal amount. Notice of prepayment having been so given, the aggregate principal amount of the 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.

Optional Prepayment of Notes. The Company may, at its option, without notice, penalty, premium or fee, prepay at any time all, or from time to time any part of, the Notes at 100% of the principal amount so prepaid, plus accrued and unpaid interest on such principal amount. In the case of each partial prepayment of the Notes, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion to the respective unpaid principal amounts thereof.

Optional Prepayment of Notes. The Issuer may, from time to time, make an optional Prepayment of principal of the Notes of a Series at the times, in the amounts and subject to the conditions and limitations set forth in the Supplement for the Series of Notes to be prepaid, and all amounts due under the Interest Rate Hedge Agreements (including any termination payments) required solely pursuant to the related Supplement.

Optional Prepayment of Notes. (a) On any Payment Date ---------------------------- succeeding a Collection Period at the end of which the aggregate Note Balance of all classes of Notes (after giving effect to the payment of Monthly Principal and any Overdue Principal on such Payment Date), is less than twenty percent (20%) of the aggregate Note Balance of all classes of Notes on the Closing Date, the Issuer shall have the option to direct the Trustee to prepay without premium, and the Trustee shall so prepay, on such Payment Date, the aggregate Note Balance of all classes of Notes, plus all accrued Monthly Interest and, if any, all Overdue Interest, together with all unpaid Letter of Credit Drawings and interest thereon. To exercise such option, the Issuer shall notify the Trustee, the Rating Agency and the Bank of such election not later than thirty (30) days preceding such Payment Date (such date a "Notice Date") and shall ----------- deposit into the Collection Account on or before the Business Day prior to the related Payment Date an amount which, when combined with the amounts already on deposit in the Collection Account, shall be sufficient to pay the amounts referred to in Section 701(a) hereof as of such Payment Date on which such prepayment will occur. Upon payment of such amounts to the Trustee and the Bank and payment in full to the party entitled thereto of any other amounts set forth in Section 701(a) hereof, the Trustee shall, in accordance with the provisions of Section 701(b) and (c) hereof, release its Security Interest in the Collateral and disburse amounts then on deposit in the Lockbox Account, Collection Account and the Reserve Account to the Issuer or as it shall direct in writing. (b) Notice of any prepayment pursuant to this Section 702 shall be given by the Trustee to Noteholders not later than the 25th day immediately preceding such final Payment Date specifying (i) the Payment Date upon which final payment of the Notes will be made and (ii) the amount of any such final payment. Failure to give notice of prepayment to any Noteholder shall not impair or affect the validity of the prepayment. (c) In the event that any amount due to any Noteholder remains unclaimed, the Issuer shall cause to be published once, in the eastern edition of The Wall Street Journal, notice that such money remains unclaimed. Any such unclaimed amounts shall not be invested by the Trustee (notwithstanding the provisions of Section 305 hereof) and no additional interest shall accrue on th...

Optional Prepayment of Notes. Subject to the terms of this Section 3.5, the Loan Parties may prepay to Agent, for the ratable benefit of Purchasers, the outstanding principal amount of the Senior Term B Notes and the Subordinated Notes in whole or in part in multiples of $250,000, or such lesser amount as is then outstanding, at any time at a price equal to (i) the accrued interest, if any, to the date set for prepayment, plus (ii) in the case of the Subordinated Notes, a prepayment fee representing the amortization of certain of Purchasers’ costs incurred in connection with the purchase of the Subordinated Notes equal to the principal amount prepaid thereon multiplied by the following percentage: provided, however, that no prepayment shall be applied to (a) the Subordinated Notes so long as the Senior Term B Notes remain outstanding and (b) to the Junior Subordinated Notes so long as the Senior Subordinated Notes remain outstanding. All such prepayments shall be applied by Agent to the outstanding principal in the inverse order of maturity after application of such prepayment to any accrued interest and prepayment premium payable in connection therewith.

Optional Prepayment of Notes. Subject to the terms of this Section 3.2, the Company may prepay the outstanding principal amount of the Notes in whole or in part at any time at a price equal to (1) the accrued interest, if any, to the date set for prepayment, plus (2) a prepayment fee representing the amortization of certain of Purchaser's costs incurred in connection with the purchase of the Notes equal to the principal amount prepaid multiplied by the following percentage: If Prepaid During the 12 Month Period Ending on October 31 of the Following Years: Percentage --------------------------- ---------- 2000 5% 2001 4% 2002 3% 2003 2% 2004 1% Any prepayment must be in integer multiples of $250,000 (or such lesser principal amount then outstanding under all of the Notes). All such prepayments shall be applied ratably to the applicable Notes, first to the remaining principal payments due on the Tranche A Notes in inverse order of maturity and then to the remaining principal payments due on the Tranche B Notes in inverse order of maturity, after application of prepayment to any prepayment premium payable in connection therewith.

Optional Prepayment of Notes. Subject to the terms of this Section 3.3, Borrower may prepay to Purchasers the outstanding principal amount of the Notes in whole or in part in multiples of $100,000, or such lesser amount as is then outstanding, plus the unpaid accrued interest, if any, on the principal amount so prepaid, to the date set for prepayment; provided, however, that no prepayment may be made with respect to any Notes held by Rand until the Seller Note has been paid in full. All such prepayments shall be applied by Purchasers to the outstanding principal after application of such prepayment to any accrued interest.