Common use of Principal Prepayments Clause in Contracts

Principal Prepayments. The Borrowers shall repay to the Agent for the ratable account of the Lenders (x) on the last day of each March, June, September and December, commencing with December 31, 2017, an aggregate amount equal to 1.00% per annum of the aggregate principal amount of the Loan outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.2(g)), and (y) on the Maturity Date, the aggregate principal amount of the Loan outstanding on such date, together with all other outstanding Obligations on such date.

Appears in 2 contracts

Sources: Credit Agreement (Liberty Energy Inc.), Credit Agreement (Liberty Energy Inc.)

Principal Prepayments. The Borrowers shall repay to the Agent for the ratable account of the Lenders (x) on the last day of each March, June, September and December, commencing with December 31, 2017, an aggregate amount equal to 1.00% per annum of the aggregate principal amount of the Loan outstanding on the Closing Date (which payments shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.2(g)), and (y) on the Maturity Date, the aggregate principal amount of the Loan outstanding on such date, together with all other outstanding Obligations on such date.in

Appears in 1 contract

Sources: Credit Agreement (Liberty Oilfield Services Inc.)