Discounted Term Loan Prepayments Sample Clauses
The Discounted Term Loan Prepayments clause allows borrowers to repay portions of their term loans at a price below the outstanding principal amount, typically with lender consent. In practice, this may involve the borrower making an offer to repurchase the loan at a discount, which lenders can choose to accept, often through a structured process such as a Dutch auction. This clause provides flexibility for borrowers to reduce debt at a lower cost and offers lenders the option to exit their positions early, ultimately facilitating efficient debt management and potential cost savings for the borrower.
Discounted Term Loan Prepayments. Notwithstanding anything in any Loan Document to the contrary, the Borrower may prepay the outstanding Term Loans on the following basis:
Discounted Term Loan Prepayments. If the Term Borrowers elect to accept any Acceptable Discount, then the Term Borrowers agree to accept all Solicited Discounted Prepayment Offers received by Administrative Agent by the Solicited Discounted Prepayment Response Date, in the order from largest Offered Discount to smallest Offered Discount, up to and including the Acceptable Discount. Each Lender that has submitted a Solicited Discounted Prepayment Offer to accept prepayment at a percentage of par value that is less than or equal to the Acceptable Discount shall be deemed to have irrevocably consented to prepayment of Term Loans equal to its Offered Amount (subject to any required pro-rationing pursuant to the following sentence or by paragraph (xi) below) at the Acceptable Discount (each such Lender, a “Qualifying Lender”). The applicable Term Borrowers will prepay outstanding Term Loans pursuant to this paragraph (iv) to each Qualifying Lender in the aggregate principal amount specified in such Lender’s Solicited Discounted Prepayment Offer at the Acceptable Discount; provided that if the aggregate Offered Amount by all Qualifying Lenders greater than or equal to the Acceptable Discount exceeds the Solicited Discounted Prepayment Amount, prepayment of the principal amount of the Term Loans for those Qualifying Lenders whose Offered Discount is greater than or equal to the Acceptable Discount (the “Identified Qualifying Lenders”) shall be made pro rata among the Identified Qualifying Lenders in accordance with the Offered Amount of each such Identified Qualifying Lender and the Administrative Agent (in consultation with the applicable Term Borrower and subject to rounding requirements of the Administrative Agent CREDIT AGREEMENT JOHNSONDIVERSEY, INC.
Discounted Term Loan Prepayments provided, (A) immediately before and immediately after giving effect to any such Discounted Term Loan Prepayment by any Term Borrower, there shall be not less than $150,000,000 of unused Revolving Credit Commitments, (B) any such Discounted Term Loan Prepayment shall be financed by any Term Borrower with internally generated funds (including, without limitation, any Available Amount) or with the Available Excluded Contribution Amount and (C) the Term Borrowers shall not initiate any actions under this Section 2.8(c) (
Discounted Term Loan Prepayments in order to make a Discounted Term Loan Prepayment unless (1) at least ten (10) Business Days shall have passed since the consummation of the most recent Discounted Term Loan Prepayment as a result of a prepayment made by any Term Borrower on the applicable Discounted Prepayment Effective Date and (2) at least three (3) Business Days shall have passed since the date the Term Borrowers were notified that no Term Lender was willing to accept any prepayment of any Term Loans at the Specified Discount, within the Discount Range or at any discount to par value, as applicable, or in the case of Borrower Solicitation of Discounted Prepayment Offers, the Term Borrowers’ election not to accept any Solicited Discounted Prepayment Offers made by a Term Lender. CREDIT AGREEMENT JOHNSONDIVERSEY, INC.
Discounted Term Loan Prepayments. Notwithstanding anything in any Loan Document to the contrary, so long as no Default or Event of Default has occurred and is continuing or would result therefrom, the Term Borrowers may prepay outstanding Term Loans on the following basis:
(i) The Term Borrowers shall have the right to make a voluntary prepayment of the Term Loans at a discount to par (such prepayment, the “Discounted Term Loan Prepayment”) pursuant to a Borrower Offer of Specified Discount Prepayment, Borrower Solicitation of Discount Range Prepayment Offers or Borrower Solicitation of Discounted Prepayment Offers, in each case made in accordance with this Section 2.8(c)