Prepayments and Reductions Sample Clauses
The "Prepayments and Reductions" clause governs how a borrower can make payments on a loan before they are due and how such payments affect the outstanding loan balance. Typically, this clause outlines the conditions under which prepayments are allowed, whether any penalties or fees apply, and how these payments are applied to principal or interest. For example, it may specify that prepayments reduce the principal balance and can shorten the loan term or reduce future interest costs. The core function of this clause is to provide flexibility for borrowers to pay off debt early while ensuring the lender's interests are protected and the process is clearly defined.
Prepayments and Reductions. 52 8.8 Prime Rate, Base Rate, US Prime Rate and LIBOR Advances.......................................53 8.9
Prepayments and Reductions. Due to Issuance of Additional -------------------------------------------------------- Subordinated Indebtedness. On the date of receipt by Company of any ------------------------- proceeds of Additional Subordinated Indebtedness, if (x) the ratio of Consolidated Total Debt to Consolidated Broadcast Cash Flow then exceeds 4.50:1.00 and gross proceeds from such Additional Subordinated Indebtedness exceed $25,000,000, then (y) Company shall reduce the Commitments in an amount equal to the excess of the Net Debt Proceeds of such Additional Subordinated Indebtedness over the sum of (1) the purchase price of any Acquisition consummated substantially concurrently with the issuance of such Additional Subordinated Indebtedness, to the extent the proceeds of such Additional Subordinated Indebtedness were applied thereto and (2) the aggregate amount of such net proceeds applied to refinance or repurchase any other Subordinated Indebtedness pursuant to subsection 7.5(i) (such amount, the ``SUBORDINATED DEBT PREPAYMENT AMOUNT'') and prepay the Loans to the extent required under subsection 2.4B(iii)(b) as a result of such reduction in the Commitments. Concurrently with any prepayment of the Loans and/or reduction of the Commitments pursuant to this subsection 2.4B(iii)(c), Company shall deliver to Agent an Officers' Certificate demonstrating the derivation of the Net Debt Proceeds of the correlative issuance of Additional Subordinated Indebtedness from the gross sales price thereof and the calculation of the Subordinated Debt Repayment Amount.
Prepayments and Reductions. Subject to giving notice required by Section 5.6 and to the other provisions of this Agreement, the Borrower may from time to time repay Advances outstanding under any Credit without penalty, except that (i) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Periods unless the Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs and (ii) Bankers' Acceptances may not be paid prior to their respective maturity dates. The Borrower may from time to time, by giving not less than three Business Days' express written notice to the Agent and paying all accrued and unpaid commitment fees to the effective date of cancellation, irrevocably notify the Agent of the cancellation in whole or in part of the undrawn amount of any Credit by an amount which shall be a minimum of $1,000,000 and a whole multiple of $100,000, or the equivalent thereof in US Dollars. The Borrower shall have no right to any increase in the committed amount of that Credit thereafter.
Prepayments and Reductions. Due to an Event of Loss. No later than the earlier of (x) the second Business Day following the date of receipt by Company or any of its Subsidiaries of any Insurance Proceeds or Condemnation Proceeds with respect to a Financed Aircraft or (y) 180 days following an Event of Loss with respect to a Financed Aircraft, Company shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), the Loans associated with such Financed Aircraft; provided that Company and its Subsidiaries shall not be required to make a prepayment pursuant to this subsection 2.4B(iii)(d) with respect to any proceeds applied pursuant to Section 4(f)(vi)(A) or 4(f)(vi)(B) of any Aircraft Chattel Mortgage.
Prepayments and Reductions. 4.6.1 Subject to giving notice required by Section 4.5, the Borrower may at any time and from time to time repay, in whole or in part, Advances outstanding under either Credit without penalty or premium, except that (a) LIBOR Advances may not be paid before the end of the applicable LIBOR Periods unless the Borrower indemnifies the Lenders for any breakage costs that the Lenders incur as a result, and (b) Bankers’ Acceptances may not be paid before their respective maturity dates but the Borrower may discharge its obligations with respect to outstanding Bankers’ Acceptances at any time by paying the full face amount of the Bankers’ Acceptances to the Agent to be held as Cash Collateral for the account of the Lenders until the maturity of the Bankers’ Acceptances; provided that the Borrower shall also concurrently repay all corresponding BA Equivalent Loans.
4.6.2 The Borrower may, without penalty or premium, from time to time, by giving not less than three Business Days’ express written notice to the Agent and paying all accrued and unpaid standby fees to the effective date of cancellation or reduction, irrevocably notify the Agent of the cancellation of either Credit or of the permanent reduction of the committed amount under either Credit by an amount which shall be a minimum of $10,000,000 and a whole multiple of $1,000,000. The Borrower shall have no right to any increase in the committed amount of the applicable Credit thereafter.
Prepayments and Reductions. (1) Subject to giving notice required by Section 5.3, the Borrower may from time to time repay Advances outstanding under the Credit without premium or penalty, except that (a) Banker's Acceptances and BA Equivalent Loans may not be paid prior to their respective maturity dates, and (b) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Period unless the Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs.
(2) The Borrower may from time to time, by giving not less than three Business Days express written notice to the Agent, irrevocably notify the Agent of the cancellation of the Credit or of the permanent reduction of the committed amount of the Credit by an amount which shall be a minimum of Cdn. $1,000,000 and a whole multiple of Cdn. $1,000,000. The Borrower shall have no right to any increase in the committed amount of the Credit thereafter.
Prepayments and Reductions. 5.7.1 Subject to giving notice required by Section 5.6, the Borrowers may from time to time repay Advances outstanding under the Credit without penalty, except that:
(a) LIBORSOFR Advances and ▇▇▇▇▇▇▇ Advances may not be paid before the end of the applicable LIBORTerm SOFR Reference Periods and EURIBOR Periods unless the Borrowers jointly and severally indemnify the relevant Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs; and
(b) Bankers’ Acceptances may not be paid before their respective maturity dates.
5.7.2 The Borrowers may from time to time, by giving not less than three Banking Days’ express written notice to the Agent and paying all accrued and unpaid standby fees to the effective date of cancellation or reduction, irrevocably notify the Agent of the cancellation of the Credit or of the permanent reduction of the committed amount of the Credit by an amount which shall be a minimum of $1,000,000 and a whole multiple of $100,000. Subject to Section 2.2, the Borrowers shall have no right to any increase in the committed amount of the Credit after that cancellation or reduction, as the case may be.
Prepayments and Reductions from Net Insurance/Condemnation ---------------------------------------------------------- Proceeds. No later than the first Business Day following the date of -------- receipt by Administrative Agent or by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to the amount of such Net Insurance/Condemnation Proceeds; provided, however, that no such prepayment shall be required to the extent (i) under the terms of any lease or other agreement existing on the date hereof such Net Insurance/Condemnation Proceeds are required to be used to replace, rebuild or repair the asset so damaged, destroyed or taken or (ii) Company determines to utilize such Net Insurance/Condemnation Proceeds to replace, rebuild or repair the asset damaged, destroyed or taken, and in each case referred to in clauses (i) and (ii) above, Company so utilizes such Net Insurance/Condemnation Proceeds within 18 months of the receipt thereof.
Prepayments and Reductions. Due to issuance of Holdings ------------------------------------------------------ Equity Securities. On the date of receipt by Holdings or any of its ----------------- Subsidiaries (other than the cash proceeds from the initial public offering of Holdings Common Stock or the exercise of any over- allotment option in connection with such initial public offering) of the cash proceeds (any such proceeds, net of underwriting discounts, commissions and other reasonable legal fees and expenses, being "NET EQUITY SECURITIES PROCEEDS") from the issuance of any equity securities of Holdings or any of its Subsidiaries, the Borrowers shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to 75% of such Net Equity Securities Proceeds.
Prepayments and Reductions. Subject to giving notice required by Section 8.6, the Borrowers may from time to time repay Advances outstanding under any Credit without penalty, except that (i) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Periods unless the relevant Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs, and (ii) Bankers' Acceptances may not be paid prior to their respective maturity dates. CHC may from time to time, by giving not less than three Business Days' express written notice to the Agent and paying all accrued and unpaid standby fees to the effective date of cancellation or reduction, irrevocably notify the Agent of the cancellation of any Credit or of the permanent reduction of the committed amount of any Credit by an amount which shall be a minimum of US $1,000,000 and a whole multiple -56- of US $100,000. The Borrowers shall have no right to any increase in the committed amount of that Credit thereafter.