Prepayment Event Clause Samples

Prepayment Event. The occurrence of an Event of Default or an Event of Mandatory Prepayment.

Prepayment Event. As soon as practicable (and in any event, within five (5) Business Days) of the occurrence of a Prepayment Event or Specified Disposition, a notification thereof, together with a description of such Prepayment Event or Specified Disposition, copies of such documents entered into in connection with the transaction giving rise to the Prepayment Event or Specified Disposition as Agent may reasonably request and calculations in form reasonably acceptable to Agent of the amount of Net Cash Proceeds, if any, arising from such Prepayment Event;

Prepayment Event. (a) The Company will notify the Intercreditor Agent promptly upon the occurrence of a Prepayment Event. Upon being notified by the Company of a Prepayment Event, the Intercreditor Agent shall promptly inform each Lender. (b) Upon and at any time after having received notice of a Prepayment Event from the Intercreditor Agent, each Lender, acting through the Intercreditor Agent, may serve a notice of mandatory prepayment and cancellation on the Company in respect of its Facility and: (i) on the date of the notice the commitment of such Lender under its Facility shall be cancelled; and (ii) on the date falling 30 Business Days after the date of service of such notice the Company shall prepay all participations of such Lender in the Facility made to it in full through the Intercreditor Agent together with any other amounts then due in connection with such participations. (c) The Company and each Lender party to any Derivatives Instruments or letter of credit facilities, confirmation facilities, bond facilities and guarantee facilities will negotiate in good faith with a view to providing to any such Lender the economic benefit of the provisions of this Clause 7 if such Lender serves a notice on the Company for such purpose. (d) If the Company seeks the consent of the Lenders to a proposed Permitted Reorganisation, no Lender will unreasonably delay in informing the Intercreditor Agent whether it consents to such proposed Permitted Reorganisation.

Prepayment Event. If a Prepayment Event occurs and, as a result thereof, the Lender requires prepayment of the Loan under Section 2.3(b), then: (a) the Borrower shall use its best endeavours to prepay the Loan as soon as practicable (which shall without limitation require the Borrower to use best endeavours to identify and access as soon as practicable such sources of debt or equity finance as may be available to it and to apply the proceeds thereof in repayment of the Loan); and (b) the Loan will, in any event, be required to be prepaid in full on the date falling 180 days after service of notice by the Lender under Section 2.3.

Prepayment Event. See § 3.

Prepayment Event. The Ceding Insurer shall have the right to give notice of a Prepayment Event to the Reinsurer in the form attached hereto as Exhibit J (‘‘Notice of Prepayment’’), which will cause a Prepayment of the outstanding Loans.

Prepayment Event. In the event and on each occasion that any Net Cash Proceeds are received by or on behalf of any Notes Party or any Subsidiary in respect of any Prepayment Event, the Issuers shall, promptly after such Net Cash Proceeds are received by any Notes Party or Subsidiary, jointly and severally unconditionally prepay the Notes in an aggregate amount equal to 100% of such Net Cash Proceeds; provided that, in the case of any event described in clause (a) or (b) of the definition of the term “Prepayment Events”, if the Issuer Representative delivers to the Administrative Agent a certificate of a Financial Officer of Alta Group to the effect that the Notes Parties intend to apply the Net Cash Proceeds from such event (or a portion thereof specified in such certificate), within 180 days after receipt of such Net Cash Proceeds, to acquire (or replace or rebuild) real property, equipment or other tangible assets to be used in the business of the Notes Parties, and certifying that no Default has occurred and is continuing, no prepayment shall be required pursuant to this clause (d) in respect of the Net Cash Proceeds specified in such certificate; provided, further, that to the extent of any such Net Cash Proceeds that have not been so used to acquire (or replace or rebuild) real property, equipment or other tangible assets to be used in the business of the Notes Parties (or committed to be so used) by the end of such 180-day period, a prepayment shall be required at such time in an amount equal to such Net Cash Proceeds that have not been so applied. Prepayments shall be accompanied by accrued interest on the amounts prepaid, any break funding payments due pursuant to Section 2.15, plus, to the extent applicable, any Make-Whole Amount as required by Section 2.10(b) and any premium as required by Section 2.10(c). Any such mandatory prepayment shall be applied as specified in Section 2.10(h).

Prepayment Event. If both ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ ▇▇▇▇▇ shall cease for any reason (including death or disability) to be principally involved in the senior management of Guarantor on a full-time basis, within ninety (90) days thereafter, prepay all Loans and cancel all Loan Commitments and this Agreement.

Prepayment Event. (i) Promptly (and in any event within three Business Days) after any officer of the Borrower obtains knowledge of any Prepayment Event or any action of the Borrower or any other Person that would be reasonably likely to result in a Prepayment Event, notice thereof in the form of an Officer's Certificate describing in reasonable detail the facts and