Prepayment; Redemption Clause Samples
The Prepayment; Redemption clause defines the terms under which a borrower can repay a loan or redeem a security before its scheduled maturity date. Typically, this clause outlines whether prepayment is allowed, any notice requirements, and if any penalties or premiums apply for early repayment. For example, a loan agreement may permit the borrower to pay off the remaining balance early but require an additional fee to compensate the lender for lost interest. The core function of this clause is to provide both parties with clear rules regarding early repayment, balancing the borrower's flexibility with the lender's need for predictable returns.
Prepayment; Redemption. This Note may not be prepaid by the Company in whole or in part, except with the prior written consent of the Holder. This Note may not be redeemed by the Company in whole or in part, except with the prior written consent of the Holder.
Prepayment; Redemption. The Borrower shall have the right to prepay the Loan, in whole or in part, without penalty or premium. To the extent the underlying Bonds are accelerated, prepaid or redeemed, in whole or in part, the Borrower shall be obligated to pay, prepay or redeem, in whole or in part, as applicable, all or any part of an outstanding indebtedness under the Note or this Agreement, on the same terms as the underlying Bonds.
Prepayment; Redemption. This Note may be prepaid on or before the date which is seven (7) months from the Original Issue Date (the “Prepayment Date”), provided, that an additional premium of one hundred percent (100%) of the then principal balance shall be due and payable upon such prepayment together with the payment of one hundred percent (100%) of the then principal balance (i.e., a total of two (2) times such principal balance), together with any and all accrued interest, penalties and charges of whatever nature and provided further, that prior to the date such repayment is to be effective, Holder shall continue to have the right to convert this Note as provided herein and provided further, that it shall have given the Holder fourteen (14) days’ prior and irrevocable written notice of same. After such Prepayment Date, the Company may not prepay this Note without the prior written consent of the Holder.
Prepayment; Redemption. The Company may prepay this Note in whole or in part upon at least ten (10) Business Days prior written notice to the Holder, which notice shall specify the date of prepayment and the amount of principal being repaid, provided that the Holder may convert such amount of principal being repaid in accordance with the terms hereof at any time prior to actual receipt of payment.
Prepayment; Redemption. At any time after the Subscription Period, this Note may, at the option of the Obligor, be redeemed prior to maturity as a whole or in part at the principal office of the Obligor, upon the notice provided herein.
Prepayment; Redemption. (a) The Series B Second Lien Notes may not be prepaid or redeemed by the Issuer in whole or in part, except as follows:
(i) In the event the Indebtedness and all other obligations evidenced by the Roxbury Loan Documents have been paid in full, the The Issuer may partially or fully redeem the Series B Second Lien Notes prior to the second (2nd) anniversary of the upon payment to the Holders of one hundred and five percent (105%) of the outstanding principal amount of such Series B Second Lien Notes plus the Make-Whole Amount. On or after the second (2nd) anniversary of the Initial Issue Date but prior to the third (3rd) anniversary of the Initial Issue Date, the Issuer may partially or fully redeem the Series B Second Lien Notes upon payment to the Holders of one hundred and five percent (105%) of the outstanding principal amount of such Series B Second Lien Notes plus all accrued and unpaid interest as of the Redemption Date. Beginning on the third (3rd) anniversary of the Initial Issue Date the Issuer may partially or fully redeem the Series B Second Lien Notes at any time upon payment to the Holders of one hundred percent (100%) of the outstanding principal amount of such Series B Second Lien Notes plus all accrued and unpaid interest. In order to partially or fully redeem the Series B Second Lien Notes, the Issuer shall provide the Holders with at least three (3) days prior written notice (but is not otherwise required to follow the provisions of section 6.4 hereof with respect to notice of such redemption). In the event the Issuer elects to partially redeem the Second Lien Notes, the principal amount of the Series B Second Lien Notes to be redeemed shall be determined by converting the principal amount of all Series B Second Lien Notes from Canadian dollars to US dollars at the Canadian dollar to US dollar exchange rate provided by the Bank of Canada on the Business Day immediately preceding the proposed Redemption Date, and thereafter allocating to the Holders of the Series B Second Lien Notes their pro rata share of the total principal amount of all Second Lien Notes being redeemed based upon the aggregate principal amount all outstanding Series B Second Lien Notes represent as a percentage of the aggregate principal amount of all outstanding Second Lien Notes.
(ii) No later than the third (3rd) Business Day following the date of receipt by the Issuer or any other Grantor of Net Cash Proceeds in respect of any Disposition permitted by Section 7.6(x) ...
Prepayment; Redemption. At any time prior to the first annual anniversary of the Issuance Date, the Borrower may, at its sole discretion and upon twenty (20) days prior written notice to the Holder, prepay/redeem the Note A in an amount equal to one hundred percent (100%) of the face value of the Note A. There will be no prepayment penalty of the Note A.
Prepayment; Redemption. The Convertible Notes may be prepaid in whole or in part at any time at the option of the Company between the first anniversary and second anniversary thereafter at 110% of the principal amount plus accrued and unpaid interest. Holders of the Convertible Notes shall have the option to convert principal and unpaid interest into Common Stock at their option upon receipt of any prepayment notice received from the Company. After the second anniversary the Convertible Notes can be prepaid without any prepayment penalty under the same terms.
Prepayment; Redemption. This Note may be prepaid by the Company in whole or in part, after providing fifteen (15) days written notice to the Holder, either in cash or by the mutually consented conversion of the Note and any accrued interest thereon at a 15% discount to the stock’s 10-day VWAP.
Prepayment; Redemption. (a) Recipient at its option may, at any time upon thirty (30) days prior written notice to the Holder, prepay or redeem all or any part of the Accrued Balance of this Note. In the event of prepayment, Recipient shall simultaneously pay any interest accrued to the date of such prepayment. Any prepayments shall be made in the following order: (1) any fees referenced in Section 8; (2) interest accrued to the date of such prepayment; and (3) the Principal. Any such written notice required by this Section 1 shall include detailed information concerning all financing activities, if any, contemplated or currently being conducted by the Recipient in the ninety (90) day period commencing on the date of MLSC’s receipt of the notice.
(b) In the event of a Move, Recipient shall provide Holder with notice thirty (30) days in advance of date of Move and shall on the date such Move occurs, fully discharge the Note by paying MLSC an amount equal to the original principal amount of the Note plus accrued interest minus any interest or principal payments made prior to the date of discharge.