OPTIONS OF BORROWER TO PREPAY Sample Clauses

The "Options of Borrower to Prepay" clause defines the borrower's right to pay off all or part of a loan before its scheduled maturity date. Typically, this clause outlines the conditions under which prepayment is allowed, such as whether advance notice is required or if any penalties or fees apply for early repayment. For example, a borrower may be permitted to make lump-sum payments to reduce the principal balance or to fully settle the loan ahead of schedule. The core function of this clause is to provide flexibility for the borrower to manage their debt obligations, while also protecting the lender's interests by specifying any costs or procedures associated with prepayment.
OPTIONS OF BORROWER TO PREPAY. Section 9.01 Options of Borrower to Prepay Repayment Installments. 20 Section 9.02 Exercise of Option. 20 Section 9.03 Mandatory Prepayment of Repayment Installments. 21 Section 9.04 Amount of Prepayment. 21 Section 10.01 Purchase of Bonds. 21 Section 10.02 Optional Purchase of Bonds. 22 Section 10.03 Determination of Interest Rate Periods. 22 Section 11.01 Term of Agreement. 22 Section 11.02 Notices. 22 Section 11.03 Parties in Interest. 23 Section 11.04 Extent of Covenants of the Issuer; No Personal Liability. 24 Section 11.05 Confirmation of Request by the Borrower. 24 Section 11.06 Amendments. 24 Section 11.07 Counterparts. 24 Section 11.08 Severability. 24 Section 11.09 Governing Law; Venue. 24 Section 11.10 Statutory Notice. 24 Section 11.11 Bond Insurer as Third-Party Beneficiary. 25 EXHIBIT A DESCRIPTION OF THE PROJECT THIS LOAN AGREEMENT, dated as of July 1, 2005 (this “Agreement”), is made by and between MARICOPA COUNTY, ARIZONA POLLUTION CONTROL CORPORATION, a nonprofit corporation designated as a political subdivision of the State of Arizona, incorporated for and with the approval of the County of Maricopa, Arizona, existing under the Constitution and laws of the State of Arizona (the “Issuer”), and EL PASO ELECTRIC COMPANY, a corporation organized and existing under the laws of the State of Texas (the “Borrower”).
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OPTIONS OF BORROWER TO PREPAY. Section 9.01 Options of Borrower to Prepay Repayment Installments ..... 20 Section 9.02
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Related to OPTIONS OF BORROWER TO PREPAY

  • CONDITIONS OF BORROWING Notwithstanding any other provision of this Agreement, the Bank shall not be required to disburse, make or continue all or any portion of the Loans, if any of the following conditions shall have occurred.

  • Payments Reductions of Commitments Prepayments Promise to Pay; Promissory Notes.

  • Optional Prepayments of Advances The Borrower may, upon at least two Business Days’ notice, in the case of Eurodollar Rate Advances, and upon notice not later than 11:00 A.M. (New York City time) on the date of prepayment, in the case of Base Rate Advances, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Repayment of Borrowings repay the principal of, or pay interest on or any other sum in connection with any of its Borrowed Money except for Borrowed Money pursuant to the Security Documents;

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).