Common use of Prepayments and Reductions Clause in Contracts

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. 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 ▇▇▇▇▇▇▇ LIBOR Advances may not be paid before the end of the applicable LIBORTerm SOFR Reference Periods and EURIBOR LIBOR 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. 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 LIBOR 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.