Partial Prepayment. Borrower shall have the right at any time to voluntarily prepay any portion of the Term Loan, or any portion of the Revolving Loan subject to a Fixed Rate, upon at least three (3) Business Days notice to Lender, without premium or penalty except Borrower shall pay to Lender, a prepayment surcharge calculated in accordance with Section 2.3(c). Unless otherwise approved by Lender, any prepayment of the Term Loan shall be applied pro rata, based on the respective aggregate principal amounts then outstanding, to Term Loan Tranche A and Term Loan Tranche B, and shall not reduce the amount of any installment payments to Lender.
Appears in 2 contracts
Sources: Credit Agreement (Ml Macadamia Orchards L P), Credit Agreement (Ml Macadamia Orchards L P)