Prepayment of Fixed Advances. Subject to the terms and conditions of Section 3.04(d), Borrower may prepay all or a portion of any Fixed Advance pursuant to the prepayment provisions of the Fixed Facility Note. Any repaid Fixed Advances shall automatically result in a reduction of the Fixed Facility Commitment.
Appears in 2 contracts
Sources: Master Credit Facility Agreement (Colonial Realty Limited Partnership), Master Credit Facility Agreement (Colonial Properties Trust)
Prepayment of Fixed Advances. Subject to the terms and conditions of Section 3.04(d3.04 (Procedure for Obtaining Releases of Collateral), Borrower may prepay all or a portion of any Fixed Advance pursuant to the prepayment provisions of the Fixed Facility Note. Any repaid Fixed Advances shall automatically result in a permanent reduction of the Fixed Facility CommitmentCommitment equal to the amount repaid. In the event that Borrower elects to pay the Standby Fee with respect to prepaid Fixed Advances, the Variable Facility Commitment shall be increased by such amount.
Appears in 1 contract
Sources: Master Credit Facility Agreement (Sun Communities Inc)