Common use of Partial Prepayments Clause in Contracts

Partial Prepayments. Each partial prepayment of the Loan or portion thereof under § 3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 shall be applied first to the principal of Base Rate Advances, and then to the principal of LIBOR Rate Advances.

Appears in 4 contracts

Sources: Term Loan Agreement (CoreSite Realty Corp), Term Loan Agreement (CoreSite Realty Corp), Term Loan Agreement (CoreSite Realty Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § Section 3.2 and Section 3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of any Outstanding Swing Loans, and next to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 4 contracts

Sources: Revolving Credit Agreement (Excel Realty Trust Inc), Revolving Credit Agreement (New Plan Excel Realty Trust Inc), Revolving Credit Agreement (Walden Residential Properties Inc)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal Dollar Equivalent amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrowers, to the principal of Revolving Credit Loans (and with respect to each category of Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 4 contracts

Sources: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 100,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then to the principal of Revolving Credit Loans. In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 4 contracts

Sources: Credit Agreement (Mid-America Apartments, L.P.), Credit Agreement (Mid-America Apartments, L.P.), Credit Agreement (Mid America Apartment Communities Inc)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrower, then to the principal of Revolving Credit Loans, and then to the principal of Term Loans (and with respect to each category of Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 3 contracts

Sources: Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Carter Validus Mission Critical REIT, Inc.), Credit Agreement (Carter Validus Mission Critical REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of Loans (and with respect to each category of Revolving Credit Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 3 contracts

Sources: Credit Agreement (Plymouth Industrial REIT Inc.), Credit Agreement (City Office REIT, Inc.), Credit Agreement (City Office REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first in the absence of instruction by the Borrower, to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 2 contracts

Sources: Senior Secured Term Loan Agreement (Cogdell Spencer Inc.), Senior Secured Revolving Credit Agreement (Gladstone Commercial Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be in the absence of instruction by the Borrower, first applied to the principal of Revolving Credit Loans, and within each category, first to the principal of Base Rate Advances, Loans within such category and then to the principal of LIBOR Rate AdvancesLoans within such category.

Appears in 2 contracts

Sources: Master Credit Agreement (Entertainment Properties Trust), Master Credit Agreement (Entertainment Properties Trust)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then to the principal of Revolving Credit Loans and then to the principal of Term Loans. Each partial payment under §3.2 and §3.3 shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 2 contracts

Sources: Credit Agreement (QTS Realty Trust, Inc.), Credit Agreement (QTS Realty Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 2 contracts

Sources: Credit Agreement (Dupont Fabros Technology, Inc.), Credit Agreement (Dupont Fabros Technology, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § 3.3 §2.4(c) shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 §2.4(b) and § 3.3 §2.4(c) shall be be, in the absence of instruction by the Borrower, applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 2 contracts

Sources: Term Credit Agreement, Term Credit Agreement (STORE CAPITAL Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 100,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the accrued but unpaid interest and then to the principal of Term Loans. In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 2 contracts

Sources: Term Loan Agreement (Mid America Apartment Communities Inc), Term Loan Agreement (Mid America Apartment Communities Inc)

Partial Prepayments. Each partial prepayment (other than partial prepayments arising from any casualty, condemnation or release of Collateral Property permitted hereunder) of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of Loans (and with respect to each category of Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 2 contracts

Sources: Credit Agreement (Bluerock Residential Growth REIT, Inc.), Credit Agreement (Bluerock Residential Growth REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied in the absence of instruction by the Borrower, to the principal of Revolving Credit Loans and then to the principal of Term Loans (and with respect to each category of Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 2 contracts

Sources: Credit Agreement (Gladstone Commercial Corp), Credit Agreement (Gladstone Commercial Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000.00, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of the Loans (first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 2 contracts

Sources: Credit Agreement (Independence Realty Trust, Inc), Credit Agreement (Independence Realty Trust, Inc)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.2 and §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of the Base Rate Advances, Loans and then to the principal of the LIBOR Rate AdvancesLoans.

Appears in 2 contracts

Sources: Revolving Credit Agreement (Ramco Gershenson Properties Trust), Revolving Credit Agreement (Ramco Gershenson Properties Trust)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first in the absence of instruction by the Borrower, to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Credit Agreement (Gladstone Commercial Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § Section 3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, to the principal of the Term Loans, and within each category, first to the principal of the Base Rate Advances, Loans and then to the principal of the LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Unsecured Term Loan Agreement (Ramco Gershenson Properties Trust)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereofthereof (unless the Loans are being repaid in full), shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment and each prepayment under § §3.2 and § §3.3 shall be applied first to the principal of any Outstanding Swing Loans and then, in the absence of instruction by the Borrower, first to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Credit Agreement (Gramercy Capital Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be in the absence of instruction by the Borrower, first applied to the principal of Loan, and within each category, first to the principal of Base Rate Advances, Loans within such category and then to the principal of LIBOR Rate AdvancesLoans within such category.

Appears in 1 contract

Sources: Master Credit Agreement (Entertainment Properties Trust)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § Section 3.2 and Section 3.3 shall be in a minimum principal amount of $1,000,000 500,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Unsecured Revolving Loan Agreement (Ramco Gershenson Properties Trust)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of the Base Rate Advances, Loans and then to the principal of the LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Bridge Loan Agreement (Ramco Gershenson Properties Trust)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof5,000,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied applied, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 100,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Term Loan Agreement (Mid-America Apartments, L.P.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof under § §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of Loan (and with respect to each category of Loan, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 1 contract

Sources: Credit Agreement (City Office REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a the minimum principal amount of $1,000,000 500,000 or an integral multiple of $100,000 in excess thereofthereof (unless the Loan is being prepaid in full), and each partial prepayment of the Loans under §3.2 and §3.3 shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by Borrower, first to the principal of Loans that are Base Rate AdvancesLoans, and then to the principal of Loans that are LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Revolving Credit Agreement (CorEnergy Infrastructure Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a the minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Revolving Credit Agreement (Foundation Capital Resources Inc)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § 3.3 §2.4(c) shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 §2.4(b) and § 3.3 §2.4(c) shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Bridge Loan Credit Agreement (STORE CAPITAL Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans. §3.5 [Intentionally Omitted.]

Appears in 1 contract

Sources: Term Loan Agreement (Carter Validus Mission Critical REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof under § §3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied ratably to the Loan of each Lender outstanding as of such date (and with respect to each category of Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 1 contract

Sources: Term Loan Agreement (Moody National REIT II, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof hereof under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Term Loan Agreement (Dupont Fabros Technology, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § Section 3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 Section 3.2, Section 3.3 and § 3.3 Section 3.5 shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans. No amount of the Loans prepaid under this Agreement may be reborrowed.

Appears in 1 contract

Sources: Term Loan Agreement (JDN Realty Corp)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §§3.2 and § 3.3 shall be applied applied, in the absence of instruction by the Borrower, first to the principal of the Revolving Credit Loans and then to the principal of Term Loans (and with respect to each category of Loans, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 1 contract

Sources: Credit Agreement (Monogram Residential Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied to the principal of Loans (first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans).

Appears in 1 contract

Sources: Credit Agreement (Pacific Office Properties Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §§3.2 and § 3.3 shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans. Effect of Prepayments . Amounts of the Loans paid, including, without limitation, under §3.2 and §3.3 of this Agreement, prior to the Maturity Date may not be reborrowed.

Appears in 1 contract

Sources: Term Loan Agreement (Condor Hospitality Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 100,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of paymentpayment and any amount payable under §3.3(c). Each partial payment under § 3.2 and § 3.3 In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Term Loan Agreement (Mid-America Apartments, L.P.)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a the minimum principal amount of $1,000,000 500,000 or any an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrowers, first to the principal of Base Rate Advances, Loans and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Loan Agreement (Meruelo Richard)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 1,000,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate AdvancesLoans, and then second to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Term Loan Agreement (QualityTech, LP)

Partial Prepayments. Each partial prepayment of the Loan or portion thereof Loans under § §3.3 shall be in a minimum principal amount of $1,000,000 500,000.00 or an integral multiple of $100,000 100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § §3.2 and § §3.3 shall be applied first to the principal of Base Rate AdvancesLoans, and then to the principal of LIBOR Rate AdvancesLoans.

Appears in 1 contract

Sources: Term Loan Agreement (Carter Validus Mission Critical REIT II, Inc.)