Compulsory Prepayment. Unless the Bank agrees to accept substitute security in form and substance satisfactory to the Bank, in line with Clauses 13.5.2 and 13.5.3 hereof, the Borrower shall, within one hundred eighty (180) days of the Vessel becoming a Total Loss or such other later day as may be agreed in writing by the Bank, or upon the Vessel being sold, prepay the Loan together with accrued interest to the date of prepayment and all other sums payable by the Borrower to the Bank pursuant to this Agreement and the other Security Documents (and if the Commitment or any portion thereof has not been drawn yet, it shall be reduced to zero).
Compulsory Prepayment. 19 5.4 GENERAL............................................................................................................................... 20 ARTICLE 6 .......................................................................................................................................... 20 6.1
Compulsory Prepayment. 26 4.03A Grounds for prepayment..........................................................................................................26 4.03A(1) PROJECT COST REDUCTION......................................................................................26 4.03A(2) PARI PASSU TO NON-EIB FINANCING......................................................................27 4.03A(3) CHANGE OF CONTROL..............................................................................................27 4.03A(4) CHANGE OF LAW.........................................................................................................28 4.03A(5) ILLEGALITY..................................................................................................................28 4.
Compulsory Prepayment. If it has become clear that the Offer Closing Date would not come due to the withdrawn of the Tender Offer or other reasons or if the Merger Agreement is terminated prior to the Merger Closing Date, this Agreement shall immediately be terminated with respect to both Tranche A and Tranche B in relation to all the Lenders. All the Borrowers shall prepay the whole amount of the Outstanding TRANSLATION OF THE ORIGINAL AGREEMENT IN JAPANESE Individual Loan Moneys in accordance with the provisions set out in this Chapter 9 by the Interest Payment Date coming after five (5) Relevant Business Days have passed since the date such event occurred.
Compulsory Prepayment. If (i) the Sale of BEST Express closes prior to the Final Maturity Date of any Loan made hereunder; (ii) in addition to BEST Freight Reorganization, the Group also sells, transfers, assigns or otherwise disposes of any assets owned by it of which the total market value reaches or exceeds 5% of the value of net assets of the Group on December 31, 2020 (as stated in the audited financial statements); or (iii) any Change of Control occurs:
(a) the Borrower shall immediately notify the Lender of such circumstance; and
(b) the Lender shall have the right to send a notice (“Notice of Compulsory Prepayment”) to the Borrower, requiring the Borrower to pay off all outstanding amounts payable under the Finance Documents within ten (10) Business Days following the giving of the Notice of Compulsory Prepayment or such longer period as may be decided by the Lender. Provided, however, that in the case of the event described in (ii) above, if (x) the director(s) appointed by Alibaba Investment Limited (阿里巴巴投资公司) and its Affiliates for the board of directors of the Group approve(s) such event, or (y) the Lender gives a written consent to such event, then no compulsory prepayment under this clause 10.2 will be triggered by the occurrence of such event.
Compulsory Prepayment. 9.1.1 If at any time the Account Balance exceeds the Facility Limit, the Borrower will prepay to GMAC on demand such amount as GMAC certifies is necessary to ensure that the Account Balance is, after such prepayment, equal to or less than the Facility Limit and until such prepayment is made no further Advances shall be made under the Facility. 9.
Compulsory Prepayment. The Borrower shall be obliged to prepay the entire Loan if the Ship is (i) sold or (ii) a Total Loss.i
Compulsory Prepayment. A. If the total cost of the Project should fall significantly short of the figure stated in the Recitals, THE BANK may in proportion to the shortfall demand prepayment of one or more Tranches of the Loan together with interest accrued thereon by notice to THE BORROWERS and THE BORROWERS shall comply with such notice. For the purposes of this Article 4.03A a fall in the total cost of the Project shall be significant where it results in THE BANK providing 50% or more of the financing for the Project.
B. If on or before the date (the “Renewal Date”) falling two months prior to the expiry date (the “Expiry Date”) of the obligations of any Guarantor under any Guarantee, the obligations of each such Guarantor under the Guarantee have not been renewed in full in favour of THE BANK with effect from the Expiry Date by notice to THE BANK given according to the provisions of such Guarantee, and it has not been possible on or before the Renewal Date to replace with effect from the Expiry Date each Guarantor not renewing such guarantee obligations by another Guarantor or Guarantors each of which is a Qualifying Guarantor (as defined in Article 7.01) on terms and conditions satisfactory to THE BANK, THE BORROWERS shall prepay such part of the outstanding amount of each Tranche as would otherwise cease to be guaranteed under the relevant Guarantee as of the Expiry Date, together with accrued interest thereon and an amount calculated in accordance with the terms of Article 4.02B and C on the first Business Day to occur on or after the date falling one month after the Renewal Date.
C. If either of THE BORROWERS inform THE BANK that an event of the nature described in Article 8.02(b)(iii) has or is likely to occur or if THE BANK has reasonable cause to believe any such event has occurred or is about to occur, THE BANK may demand that THE BORROWERS consult with it. Such consultation shall take place within thirty days from the date of such demand. If, after the elapse of thirty days from the date of such demand, THE BANK acting reasonably is of the opinion that such event has, or is likely to have, a material adverse effect on the future servicing of the Loan or on the financial stability of either of THE BORROWERS it may request THE BORROWERS to prepay the Loan, together with accrued interest thereon and an amount calculated in accordance with the terms of Article 4.02B and C. THE BORROWERS shall effect payment of the amount demanded on the date specified by THE BANK, such ...
Compulsory Prepayment. A. If the total cost of THE PROJECT should fall significantly short of the figure stated in the Recitals, THE BORROWER shall upon demand of THE BANK prepay the required amount of the Loan, together with interest and related sums accrued thereon, on the date indicated by THE BANK. For this purpose, the required amount of the Loan shall be the minimum amount such as to ensure that the outstanding principal amount of the Loan shall not exceed 50% of the total cost of THE PROJECT.
B. If, without the prior written contact of THE BANK, the BORROWER ceases to be a Subsidiary which is wholly-owned by the Guarantor, THE BANK may require that THE BORROWER consult with it. Such consultation shall take place within 30 days from the date of THE BANK's request. If after 30 days from the date of such a request THE BANK is of the opinion that such event has, or is likely to have, a material adverse effect on the future servicing of the Loan or on the solvency of THE BORROWER then THE BANK may require THE BORROWER to prepay the Loan, together with accrued interest and a premium calculated on the amount to be prepaid in accordance with Article 4.
Compulsory Prepayment. The Borrower shall,
(a) in case the Vessel becomes a Total Loss, within one hundred fifty days (150) therefrom, or
(b) in case
(i) the Vessel is sold, or
(ii) it becomes illegal for the Bank to lend or maintain the Commitment, on demand prepay the Loan together with accrued interest to the date of prepayment and all other sums payable by the Borrower to the Bank pursuant to this Agreement and the other Security Documents (and if the Commitment has not been drawn yet, it shall be reduced to zero), unless the Bank agrees (in case of 9.3.(a) and/or 9.3.(b) (i)) to accept substitute security in form and substance satisfactory to the Bank, in line with Clauses 13.5.2 and 13.5.3 hereof,
