Amounts borrowed pursuant to Section 2. 1(a) may be reborrowed during the Commitment Period, and any repayment of the Loans (i) subject to clause (ii), on any Interest Payment Date shall be applied as set forth in Section 2.12(a) or (ii) on any date on which an Event of Default has occurred and is continuing shall be applied as set forth in Section 2.12(b). Each Lender’s Commitment shall expire on the Commitment Termination Date and all Loans and all other amounts owed hereunder with respect to the Loans and the Commitments shall be paid in full no later than the Maturity Date. Except as otherwise provided herein, there shall be no voluntary prepayments of any Loan made hereunder prior to the Commitment Termination Date. Notwithstanding anything to the contrary contained herein, at any time on or after the Commitment Termination Date, the Loans may be prepaid in whole or in part without penalty at any time.
Appears in 3 contracts
Samples: Credit Agreement (FlexShopper, Inc.), Credit Agreement (FlexShopper, Inc.), Credit Agreement (FlexShopper, Inc.)
Amounts borrowed pursuant to Section 2. 1(a) may be reborrowed during the Commitment Period, and any repayment of the Loans (i) subject to clause (ii), on any Interest Payment Date shall be applied as set forth in Section 2.12(a) or (ii) on any date on which an Event of Default has occurred and is continuing shall be applied as set forth in Section 2.12(b). Each Lender’s Commitment shall expire on the Commitment Termination Date and all Loans and all other amounts owed hereunder with respect to the Loans and the Commitments shall be paid in full no later than the Maturity Date. Except as otherwise provided herein, there There shall be no voluntary prepayments of any Loan made hereunder prior to the Commitment Termination Date. Notwithstanding anything to the contrary contained herein, at any time on or after the Commitment Termination Date, the Loans may be prepaid in whole or in part without penalty at any time.
Appears in 1 contract
Samples: Credit Agreement (FlexShopper, Inc.)