Common use of Conditions for voluntary prepayment Clause in Contracts

Conditions for voluntary prepayment. The conditions referred to in Clause 8.3 are that: (a) a partial prepayment shall be in an amount not less than $5,000,000 or a higher integral multiple thereof; and (b) the Agent has received from the Borrowers at least 5 days' prior written notice specifying the amount to be prepaid and the date on which the prepayment is to be made; and (c) the Borrowers have provided evidence satisfactory to the Agent that any consent required by any Borrower or any Security Party (pursuant to any contract such Borrower or Security Party is a party or to any obligation to which such Borrower or Security Party is subject) in connection with the prepayment has been obtained and remains in force, and that any requirement relevant to this Agreement which affects any Borrower or any Security Party has been complied with.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Dynagas LNG Partners LP), Loan Agreement (Dynagas LNG Partners LP)

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Conditions for voluntary prepayment. The conditions referred to in Clause 8.3 8.4 are that: (a) a partial prepayment shall be in an the minimum amount not less than of Five Hundred Thousand Dollars ($5,000,000 500,000) or a higher integral multiple thereof; and; (b) the Agent has received from the Borrowers Borrower at least 5 days' ten (10) Business Days prior written confirmative and irrevocable notice specifying the amount to be prepaid in connection with the Loan and the date on which the prepayment is to be mademade (such date shall be the last day of an Interest Period); and (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party (pursuant to any contract such Borrower or Security Party is a party or to any obligation to which such Borrower or Security Party is subject) in connection with the prepayment has been obtained and remains in force, and that any requirement relevant to this Agreement which affects any the Borrower or any Security Party has been complied with.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Conditions for voluntary prepayment. The conditions referred to in Clause 8.3 8.4 are that: (a) a partial prepayment shall be in an the minimum amount not less than of One Hundred Thousand Dollars ($5,000,000 100,000) or a higher integral multiple thereof; and; (b) the Agent has received from the Borrowers Borrower at least 5 days' ten (10) Business Days prior written confirmative and irrevocable notice specifying the amount to be prepaid in connection with the Loan and the date on which the prepayment is to be mademade (such date shall be the last day of an Interest Period); and (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party (pursuant to any contract such Borrower or Security Party is a party or to any obligation to which such Borrower or Security Party is subject) in connection with the prepayment has been obtained and remains in force, and that any requirement relevant to this Agreement which affects any the Borrower or any Security Party has been complied with.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

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Conditions for voluntary prepayment. The conditions referred to in Clause 8.3 8.4 are that: (a) a partial prepayment shall be in an the minimum amount not less than $5,000,000 of United States Dollars One Hundred Thousand (US$100,000) or a higher integral multiple thereof; and; (b) the Agent has received from the Borrowers Borrower at least 5 days' ten (10) Business Days prior written confirmative and irrevocable notice specifying the amount to be prepaid and the date on which the prepayment is to be mademade (such date shall be the last day of an Interest Period); and (c) the Borrowers have Borrower has provided evidence satisfactory to the Agent that any consent required by any the Borrower or any Security Party (pursuant to any contract such Borrower or Security Party is a party or to any obligation to which such Borrower or Security Party is subject) in connection with the prepayment has been obtained and remains in force, and that any requirement relevant to this Agreement which affects any the Borrower or any Security Party has been complied with.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

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