Repayments and Prepayments Clause Samples
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Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each of its (w) Term Loans upon the Term Loan Maturity Date, (y) Revolving Loans upon the Revolving Loan Maturity Date, (y) Swingline Loans upon the Swingline Expiry Date and (z) Loans on the date on which a Change in Control occurs unless the Required Lenders otherwise agree in writing.
(a) Prior thereto, the Borrower shall have the right to voluntarily prepay the Loans, without premium or penalty (except as may be required by Section 5.4), in whole or in part at any time and from time to time on the following terms and conditions:
(i) the Borrower shall give the Administrative Agent prior to 11:00 a.m. (New York City, New York time) (x) at least one Business Day’s prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay ABR Loans (or same day notice in the case of a prepayment of Swingline Loans) and (y) at least three Business Days’ prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Eurodollar Loans, which notice (in each case) shall specify whether Term Loans, Revolving Loans or Swingline Loans shall be prepaid and the amount of such prepayment and the types of Loans of the respective Tranche to be prepaid and, in the case of Eurodollar Loans, the specific Borrowing or Borrowings pursuant to which such Eurodollar Loans were made, and which notice the Administrative Agent shall, except in the case of a prepayment of Swingline Loans, promptly transmit to each of the Lenders;
(ii) (x) each partial prepayment of Term Loans pursuant to this Section 3.1(a) shall be in an aggregate principal amount of at least $1,000,000 (or such lesser amount as is acceptable to the Administrative Agent in any given case), (y) each partial prepayment of Revolving Loans pursuant to this Section 3.1(a) shall be in an aggregate principal amount of at least $500,000 (or such lesser amount as is acceptable to the Administrative Agent in any given case) and (z) each partial prepayment of Swingline Loans pursuant to this Section 3.1(a) shall be in an aggregate principal amount of at least $100,000 (or such lesser amount as is acceptable to the Administrative Agent in any given case), provided that if any partial prepayment of Eurodollar Loans made pursuant to any Borrowing shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to such Borrowing to an amount less than $5,000,000, then such Borrowing may not b...
Repayments and Prepayments. The Borrower shall repay the Loans in fourteen equal semi-annual installments on the last day of each Interest Period, as set forth on Schedule II hereto. In addition, the Borrower
(a) may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided that
(i) any such prepayment shall be made pro rata among all Loans and applied in inverse order of maturity;
(ii) all such voluntary prepayments shall require at least three Business Days (or, if such prepayment is to be made on the last day of an Interest Period for the Loans, two Business Days) prior written notice to the Administrative Agent; and
(iii) all such voluntary partial prepayments shall be in an aggregate minimum amount of $10,000,000 and a multiple of $1,000,000 (or the remaining amount of the Loans being prepaid); and
(b) shall, immediately upon any acceleration of the Stated Maturity Date of the Loans pursuant to Section 8.2 or 8.3 or the mandatory repayment of the Loans pursuant to Section 9.2, repay all Loans. Each prepayment of any Loans made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4, provided that any prepayment under this Agreement shall be made subject to payment by the Borrower to the Administrative Agent (for the account of the FEC Counterparty) of any FEC Break Costs on written demand by the FEC Counterparty, which demand shall set forth the amount of the FEC Break Costs and reasonably detailed calculations thereof.
Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each Revolving Loan upon the Revolving Loan Maturity Date. Prior thereto, payments and prepayments of Revolving Loans shall or may be made as set forth below.
(a) The Borrower shall make the following principal reductions on the last day of each Fiscal Quarter during each of the following periods:
(i) during Fiscal Year 2002 None
(ii) during Fiscal Year 2003 None
(iii) during Fiscal Year 2004 quarterly payments equal to thirteen and three-quarters percent (13.75%) of the outstanding principal balance of the Revolving Loans as of December 31, 2003
(iv) during Fiscal Year 2005 quarterly payments equal to twenty-five percent (25%) of the outstanding principal balance of the Revolving Loans as of December 31, 2004
(iv) on December 31, 2005 one hundred percent (100%) of the then outstanding principal balance of the Revolving Loans and all accrued interest Repayments under Section 3.1(a) shall permanently reduce the Revolving Loan Commitment Amount in the amount of each required principal payment as of the date that such payment is required to be made, and the Letter of Credit Commitment Amount shall be correspondingly reduced.
(b) From time to time on any Business Day, the Borrower may make a voluntary prepayment, in whole or in part, of the outstanding principal amount of any Revolving Loan, provided, however, that:
(i) all such voluntary prepayments shall require at least three (3) but no more than seven (7) Business Days’ prior written notice to the Lender; and
(ii) all such voluntary partial prepayments shall be in an aggregate minimum amount of One Million Dollars ($1,000,000) and an integral multiple of Five Hundred Thousand Dollars ($500,000).
(c) Subject to Section 2.1(a), on each date when the sum of the aggregate outstanding principal amount of all Revolving Loans exceeds the Revolving Loan Commitment Amount (as it may be reduced from time to time, including pursuant to Section 2.2) less the Letter of Credit Outstandings and the Lender Guaranty Disbursements (the amount of such excess being an “Overadvance”), the Borrower shall make a mandatory prepayment of the Overadvance, together with accrued interest thereon.
(d) Concurrently with the receipt (or deemed receipt) of any Net Proceeds or any insurance proceeds or condemnation proceeds (or after the expiration of any period designated for the purchase of Qualified Assets, if appropriate) by the Borrower or any of its Subsidiaries, the Bo...
Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each Loan upon the Stated Maturity Date therefor. Prior thereto, the Borrower
Repayments and Prepayments. 47 3.1.2. Application.....................................................51 3.2.
Repayments and Prepayments. (A) The aggregate outstanding principal balance of the Term Loan shall not at any time exceed the Term Loan Commitment. Borrower shall, if at any time any such excess shall arise, promptly pay to Lender such amount for application to the Term Loan as may be necessary to eliminate the excess.
(B) Borrower may prepay all or any part of the Term Loan at any time upon at least one (1) Business Day's prior irrevocable written notice to Lender of the amount of the principal prepayment, the application as between any LIBOR Rate Advance and Base Rate Advance and the Business Day for prepayment; provided, further, however, that (i) no prepayment or payment of any LIBOR Rate Advance may be made on any day other than the last day of the Interest Period with respect thereto or if an Event of Default or Default has occurred and is continuing or would occur as a result of such prepayment or payment; and (ii) no amount paid or prepaid under the Term Loan may be reborrowed.
(C) Borrower will pay to Lender in immediately available funds, at its office at the address specified in subsection 10.12, or such other address as Lender shall specify in writing, all amounts payable to it under the terms of the Term Note, without any presentation of such Term Note.
(D) If any payment to be made by Borrower hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in computing any interest in respect of such payment.
(E) Borrower may, upon not less than one (1) Business Day's prior written notice to Lender, at any time and from time to time, permanently reduce, without premium or penalty, the Term Loan Commitment to an amount not less than the aggregate principal balance of the Term Loan that is then outstanding.
Repayments and Prepayments. (a) The Borrower hereby unconditionally promises to pay on the Maturity Date, to the Administrative Agent for the account of each Lender, the then unpaid principal amount of each Loan made by such Lender to the Borrower.
(b) The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Administrative Agent no later than 11:00 A.M., New York City time, three Business Days prior thereto, in the case of Eurodollar Loans, and no later than 11:00 A.M., New York City time, on the prepayment date, in the case of ABR Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Eurodollar Loans or ABR Loans; provided, that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.14. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof (it being agreed that the failure of the Borrower to make any such voluntary prepayment on such date shall not result in an Event of Default and that the sole remedy with respect to such failure shall be the obligation to pay any amounts which may become owing as a result of such failure pursuant to Section 2.14).
Repayments and Prepayments. Any amount of the Term Loans that is subsequently repaid or prepaid may not be reborrowed.
Repayments and Prepayments. 64 SECTION 3.1.2. Application...............................................68 SECTION 3.2.
Repayments and Prepayments. The Borrower shall make payments of unpaid principal of each Loan on each Payment Date to the extent provided in the Priority of Payments and Article IX of the Indenture.