Optional Prepayments and Commitment Reductions Sample Clauses
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Optional Prepayments and Commitment Reductions. (a) The Borrowers may, on the last day of any Interest Period with respect thereto, in the case of Eurodollar Loans, or at any time and from time to time, in the case of ABR Loans, prepay the Loans, in whole or in part, without premium or penalty, upon at least one Business Day’s irrevocable notice to the Administrative Agent in the case of ABR Loans, and upon at least three Business Days’ irrevocable notice to the Administrative Agent in the case of Eurodollar Loans, in each case specifying the date and amount of prepayment and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof, and, in each case if of a combination thereof, the amount allocable to each. Upon receipt of any such notice the Administrative Agent shall promptly notify each 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 any amounts payable pursuant to subsection 4.14. Partial prepayments of Eurodollar Loans shall be in an aggregate principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof.
(b) Subject to subsection 4.5(c), the Borrowers shall have the right, upon not less than three Business Days’ notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments. Any such reduction shall be in an amount equal to $5,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect. Termination of the Commitments shall also terminate the obligation of the Issuing Lender to issue Letters of Credit.
(c) In the event of the termination by the Borrowers of all Commitments, the Borrowers shall on the date of such termination repay or prepay all of its outstanding Loans (together with accrued and unpaid interest on the Loans and any amounts payable pursuant to subsection 4.14 and any other amounts payable hereunder), reduce the Letter of Credit Outstandings to zero and cause all Letters of Credit to be canceled and returned to the Issuing Lender (or shall cash collateralize the Letter of Credit Outstandings (or provide supporting letters of credit from an institution reasonably acceptable to the Administrative Agent) on terms and pursuant to documentation reasonably satisfactory to the Issuing Lender and the Administrative Agent). In the event of any partial reduction of the Commitments, then (i) at or prior to the effective date...
Optional Prepayments and Commitment Reductions. (a) ---------------------------------------------- At any time, and from time to time, the Borrower may, on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided, however, that: -------- -------
(ii) unless the Borrower notifies the Administrative Agent that such prepayment is to be applied to prepay Revolving Loans, any such prepayment made after the 364-Day Term Loan Maturity Date shall be applied to the Construction Term Loans until such Loans are paid in full;
(iii) any such prepayment shall be applied pro rata among Loans of --- ---- the same type and, if applicable, having the same Interest Period;
(iv) any such prepayment of any LIBO Rate Loan made on any day other than the last day of the Interest Period for such Loan shall be subject to the provisions of Section 4.5; -----------
(v) any such prepayment of LIBO Rate Loans shall require at least two Business Days' prior written notice to the Administrative Agent and any such prepayment of Base Rate Loans may be made on same day's written notice to the Administrative Agent; and
(vi) any such partial prepayment of Loans shall be in an aggregate minimum amount of $10,000,000.
Optional Prepayments and Commitment Reductions. Loans may be prepaid and commitments may be reduced by the Borrower in a minimum amount of $500,000 or integral multiples of $100,000. Optional prepayments of the term loans will be applied, first, to prepay the Tranche A loans and, to the extent the Tranche B Lenders and Tranche C Lenders so elect, the Tranche B loans and the Tranche C loans, and, second, to prepay any remaining Tranche B loans or Tranche C loans (once all Tranche A loans have been paid in full). Optional prepayments of term loans of any tranche held by any Lender will be applied to subsequent scheduled amortization on a pro-rata basis.
Optional Prepayments and Commitment Reductions. Loans under the Senior Credit Facilities may be prepaid and unused commitments under the Revolving Credit Facility may be reduced at any time, in whole or in part, at the option of the Borrower, upon notice and in minimum principal amounts and in multiples to be agreed upon, without premium or penalty (except Term SOFR breakage costs). Any optional prepayment of the Term A Facility will be applied as directed by the Borrower to the remaining scheduled amortization payments (and absent such direction, in direct order of maturity thereof).
Optional Prepayments and Commitment Reductions. (a) The Borrower may, at any time and from time to time, prepay the Loans, in whole or in part, without premium or penalty, upon at least one Business Day's irrevocable notice to the Administrative Agent in the case of ABR Loans, and upon at least three Business Day's irrevocable notice to the Administrative Agent in the case of Eurodollar Loans, in each case specifying the date and amount of prepayment and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof, and, in each case if of a combination thereof, the amount allocable to each; provided that any prepayment of a Eurodollar Loan is subject to the terms of subsection 4.14 hereof. Upon receipt of any such notice the Administrative Agent shall promptly notify each 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 any amounts payable pursuant
Optional Prepayments and Commitment Reductions. Loans may be prepaid and commitments may be reduced by the Borrower in minimum amounts to be agreed upon. Optional prepayments of the Term Loans shall be applied to the Tranche A Term Loans, the Tranche B Term Loans and the Tranche C Term Loans ratably in accordance with the then-outstanding amounts thereof and may not be reborrowed. Optional prepayments of the Tranche A Term Loans, the Tranche B Term Loans or the Tranche C Term Loans, as applicable, shall be applied, first, to the next two installments thereof, and second, ratably to the remaining installments thereof in accordance with the then-remaining number of installments. Notwithstanding the foregoing, so long as any Tranche A Term Loans are outstanding, each holder of Tranche B Term Loans or Tranche C Term Loans shall have the right to refuse all or any portion of such prepayment allocable to its Tranche B Term Loans or Tranche C Term Loans, as the case may be, on or prior to the second anniversary of the Closing Date and the amount so refused will be applied to prepay the Tranche A Term Loans.
Optional Prepayments and Commitment Reductions. The Bridge Facility may be prepaid at any time in whole or in part without premium or penalty, upon written notice, at the option of the Borrower, except that any prepayment of LIBOR advances other than at the end of the applicable interest periods therefor shall be made with reimbursement for any funding losses and redeployment costs of the Lenders resulting therefrom. The commitment under the Bridge Facility may be reduced permanently or terminated by the Borrower at any time without penalty. Optional prepayments may be allocated between the Capital Markets Bridge Tranche and the Cash Bridge Tranche as determined by the Borrower.
Optional Prepayments and Commitment Reductions. The Borrower may prepay the Bridge Facility in whole or in part at any time without penalty, subject to reimbursement of the Lenders' breakage and redeployment costs in the case of prepayment of a LIBOR borrowing. Prior to Funding, the Borrower may reduce or terminate the commitments of the Lenders under the Bridge Facility upon notice to the Administrative Agent.
Optional Prepayments and Commitment Reductions. (a) The Borrowers may prepay the outstanding principal amount of the Revolving Loans in whole or in part at any time; provided, that if any prepayment of any LIBOR Loan or any BA Rate Loan is made by the Borrowers other than on the last day of an Interest Period for such Loan, the Borrowers shall also pay any amounts owing pursuant to Section 8.19.
(b) The Borrowers may, upon at least three Business Days’ prior notice to the Agent, terminate in whole or reduce in part ratably the unused portions of the respective Revolving Credit Commitments under the Revolving Line of Credit; provided, that the Canadian Revolving Sub-Line of Credit shall also be permanently reduced on a ratable basis; provided, further, that each partial reduction of the Revolving Line of Credit shall be in an aggregate amount of not less than $5,000,000 or an integral multiple of $1,000,000 in excess thereof. On the date of any such termination or reduction of the Revolving Credit Commitments, the Borrowers shall pay (a) accrued interest on the principal so prepaid to the date of such prepayment and (b) solely in the case of a termination in whole of the Revolving Credit Commitments, whether in a single transaction or a series of related transactions, the Early Termination Fee.
Optional Prepayments and Commitment Reductions. The DIP Borrower may voluntarily reduce the Unused Commitment and/or repay the DIP Loans at any time without premium or penalty upon at least five (5) Business Days’ prior written notice (or such shorter period as agreed by the DIP Lender in its sole discretion), which notice shall specify the amount of such prepayment; provided that each such reduction or prepayment shall be in an aggregate principal amount of at least $500,000 (or such lesser amount as agreed to by the DIP Lender in its sole discretion). Any prepayment of DIP Loans shall be accompanied by all accrued and unpaid interest on the amount of such repaid DIP Loans.