Common use of Required Prepayments of the Notes Clause in Contracts

Required Prepayments of the Notes. On each of the dates set forth in the following table, the Company will prepay the principal amount of the Notes set forth opposite such date in such table (or such lesser principal amount of the Notes as shall at the time be outstanding), at the principal amount of the Notes so prepaid, without premium, together with interest accrued thereon: Principal Amount Date of Prepayment of Prepayment --------------------------------- ---------------------------- December __, 2003 $27,500,000 December __, 2004 27,500,000 December __, 2005 27,500,000 December __, 2006 27,500,000 December __, 2007 27,500,000 December __, 2008 27,500,000 December __, 2009 27,500,000 Any partial prepayment of the Notes pursuant to Section 9.2, 9.3 or (to the extent not applied to satisfy a prepayment required under this Section 9.1) 9.4 shall be applied to reduce each prepayment thereafter required to be made pro rata, but otherwise no acquisition of the Notes by the Company or any of its Affiliates, shall relieve the Company from its obligation to make the required prepayments provided for in this Section 9.1. The Company shall notify the holders of the Notes of any application provided for in the immediately preceding sentence five days prior to such application. On the maturity date, the Company will pay the then outstanding principal amount of the Notes together with interest accrued thereon.

Appears in 1 contract

Sources: Note Agreement (Cornerstone Propane Partners Lp)

Required Prepayments of the Notes. On each of the dates set forth in the following table, the Company will prepay the principal amount of the Notes set forth opposite such date in such table (or such lesser principal amount of the Notes as shall at the time be outstanding), at the principal amount of the Notes so prepaid, without premium, together with interest accrued thereon: Principal Amount Date of Prepayment of Prepayment --------------------------------- ---------------------------- December __, 2003 $27,500,000 December __, 2004 27,500,000 December __---------------------- ----------------- January 31, 2005 27,500,000 December __$9,444,444.44 January 31, 2006 27,500,000 December __$9,444,444.44 January 31, 2007 27,500,000 December __$9,444,444.44 January 31, 2008 27,500,000 December __$9,444,444.44 January 31, 2009 27,500,000 $9,444,444.44 January 31, 2010 $9,444,444.44 January 31, 2011 $9,444,444.44 January 31, 2012 $9,444,444.44 Any partial prepayment of the Notes pursuant to Section 9.2, 9.3 or (to the extent not applied to satisfy a prepayment required under this Section 9.1) 9.4 shall be applied to reduce each prepayment thereafter required to be made pro rata, but otherwise no acquisition of the Notes by the Company or any of its Affiliates, shall relieve the Company from its obligation to make the required prepayments provided for in this Section 9.1. The Company shall notify the holders of the Notes of any application provided for in the immediately preceding sentence five days prior to such application. On the maturity date, the Company will pay the then outstanding principal amount of the Notes together with interest accrued thereon.

Appears in 1 contract

Sources: Note Agreement (Cornerstone Propane Partners Lp)

Required Prepayments of the Notes. On each of the dates set forth in the following table, the Company will prepay the principal amount of the Notes set forth opposite such date in such table (or such lesser principal amount of the Notes as shall at the time be outstanding), at the principal amount of the Notes so prepaid, without premium, together with interest accrued thereon: TRANCHE A NOTES Principal Amount Date of Prepayment of Prepayment --------------------------------- ---------------------------- December __--------------------- -------------------- July 31, 2003 $27,500,000 December __10,000,000.00 July 31, 2004 27,500,000 December __$10,000,000.00 TRANCHE B NOTES Principal Amount Date of Prepayment of Prepayment --------------------- -------------------- July 31, 2003 $4,285,714.29 July 31, 2004 $4,285,714.28 July 31, 2005 27,500,000 December __$4,285,714.29 July 31, 2006 27,500,000 December __$4,285,714.28 July 31, 2007 27,500,000 December __$4,285,714.29 July 31, 2008 27,500,000 December __, 2009 27,500,000 $4,285,714.28 Any partial prepayment of the Notes pursuant to Section 9.2, 9.3 or (to the extent not applied to satisfy a prepayment required under this Section 9.1) 9.4 shall be applied to reduce each prepayment thereafter required to be made pro rata, but otherwise no prepayment or acquisition of the Notes by the Company or any of its Affiliates, Affiliates shall relieve the Company from its obligation to make the required prepayments provided for in this Section 9.1. The Company shall notify the holders of the Notes of any application provided for in the immediately preceding sentence five days prior to such application. On the maturity datedate for each series of Notes, the Company will pay the then outstanding principal amount of the Notes of such series together with interest accrued thereon.

Appears in 1 contract

Sources: Note Agreement (Cornerstone Propane Partners Lp)