EARLY LOAN ACCELERATION Sample Clauses

EARLY LOAN ACCELERATION. Notwithstanding anything to the contrary contained in this Agreement, if at any time (a) the outstanding principal balance of the Loan is less than Fifteen Million Dollars ($15,000,000) and (b) the Cash On Cash Return is less than twelve percent (12.0%), Lender shall have the right to accelerate the Loan, whereupon all amounts due under the Loan Documents shall become due and payable without any penalty or premium on the date which is one hundred twenty (120) days (the "EARLY TERMINATION DATE") after the date that Lender provides Borrower with notice of its intent to accelerate the Loan pursuant to the provisions of this paragraph; provided that Borrower shall have the right to repay the Loan without penalty or premium (including the premium contemplated in Section 2.3(4) above, if payable) on any earlier date after Borrower's receipt of such notice. Borrower shall pay to Lender, in immediately available funds, all outstanding principal, accrued and unpaid interest, and any other amounts due under the Loan Documents as of the Early Termination Date (or as of such earlier date on which Borrower elects to repay the Loan, as permitted in this paragraph).
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EARLY LOAN ACCELERATION. Notwithstanding anything to the contrary contained in this Agreement, if at any time the aggregate outstanding principal balance of the Loans is less than Two Hundred Million Dollars ($200,000,000.00), Administrative Agent shall have the right to accelerate the Loans, whereupon all amounts owing under the Loan Documents shall become due and payable without any penalty or premium on the date which is one hundred twenty (120) days (the “Early Termination Date”) after the date that Administrative Agent provides Borrowers with notice of Administrative Agent’s intent to accelerate the Loans pursuant to the provisions of this Section 2.3(6); provided that Borrowers shall have the right to repay the Loans without penalty or premium on any earlier date after Borrower receipt of such notice. Borrowers shall pay to Administrative Agent, in immediately available funds, all outstanding principal, accrued and unpaid interest, and any other amounts owing under the Loan Documents as of the Early Termination Date (or as of such earlier date on which Borrowers elect to repay the Loans, as permitted in this Section 2.3(6)), including any amounts payable to a Lender pursuant to Section 2.7(5) as a result of such prepayment while a Eurodollar Loan is in effect.
Sample 1
EARLY LOAN ACCELERATION. Notwithstanding anything contained in this Agreement, if, at any time (a) the outstanding principal balance of the Loans is Thirty-Five Million Dollars ($35,000,000.00) or less or (b) if less than three (3) Projects remain in the Portfolio, Administrative Agent shall have the right to accelerate the Loans, whereupon all amounts due under the Loan Documents shall become due and payable on the date that is ninety (90) days (the “Early Termination Date”) after the date that Administrative Agent provides Borrowers with written notice of its intent to accelerate the Loans pursuant to the provisions of this Section 3.6; provided that Borrowers shall have the right to repay the Loans on any date earlier than the Early Termination Date after Borrowers’ receipt of such notice, upon not less than fifteen (15) days prior written notice to Administrative Agent. Borrowers shall pay to Administrative Agent (on behalf of the Lenders), in immediately available funds, all outstanding principal, accrued and unpaid interest, and any other amounts due under the Loan Documents as of the Early Termination Date (or as of such earlier date on which Borrowers elect to repay the Loans, as permitted in this Section 3.6).
Sample 1

Related to EARLY LOAN ACCELERATION

  • Mandatory Prepayment Upon an Acceleration If the Term Loan Advances are accelerated by Bank following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (ii) the Prepayment Fee, (iii) the Final Payment, and (iv) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

  • Cross-Acceleration (i) The Company or any Material Subsidiary (A) fails to make any payment in respect of any Indebtedness or Contingent Obligation (other than in respect of Swap Contracts), having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $10,000,000 when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, or (B) fails to perform or observe any other condition or covenant, or any other event shall occur or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent Obligation, and such failure continues after the applicable grace or notice period, if any, specified in the relevant document on the date of such failure, if the effect of such failure, event or condition under the preceding clauses (A) or (B) is to cause such Indebtedness to be declared or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be required to be made, prior to its stated maturity, or such Contingent Obligation to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (1) any event of default under such Swap Contract as to which the Company or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) or (2) any Termination Event (as defined in such Swap Contract) as to which the Company or any Subsidiary is an Affected Party (as defined in such Swap Contract), and, in either event, the Swap Termination Value owed by the Company or such Subsidiary as a result thereof is greater than $10,000,000; or

  • Default; Acceleration (a) Any of the following shall constitute an “Event of Default” under this Note:

  • Option Acceleration One hundred percent (100%) of the shares subject to all Options granted to the Employee by the Company prior to the Change of Control shall immediately become vested and exercisable in full upon such Involuntary Termination. Following such acceleration, the Options shall continue to be subject to the terms and conditions of the Company’s stock option plans and the applicable option agreements between the Employee and the Company.

  • Acceleration of Loans Declare the unpaid principal of and any accrued interest in respect of all Loans, any reimbursement obligations arising from drawings under Letters of Credit and any and all other indebtedness or obligations of any and every kind owing by a Credit Party to any of the Lenders hereunder to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Credit Parties.

  • Optional Acceleration Subject to Section 7.03, if an Event of Default (other than an Event of Default set forth in Section 7.01(A)(ix) or 7.01(A)(x) with respect to the Company and not solely with respect to a Significant Subsidiary of the Company) occurs and is continuing, then the Trustee, by notice to the Company, or Holders of at least twenty five percent (25%) of the aggregate principal amount of Notes then outstanding, by notice to the Company and the Trustee, may declare the principal amount of, and all accrued and unpaid interest on, all of the Notes then outstanding to become due and payable immediately.

  • Events of Default and Acceleration If any of the following events (“Events of Default” or, if the giving of notice or the lapse of time or both is required, then, prior to such notice or lapse of time, “Defaults”) shall occur:

  • Events of Default; Acceleration If any of the following events ("Events of Default") shall occur:

  • Automatic Acceleration Upon the occurrence of an Event of Default described in Section 8.01(l) or Section 8.01(m) the Facility shall be automatically terminated and the Loans and all other Obligations shall be immediately due and payable upon the occurrence of such event, without demand or notice of any kind.

  • DEFAULT AND ACCELERATION The Debt shall without notice become immediately due and payable at the option of Lender if any payment required in this Note is not paid on or prior to the date when due or if not paid on the Maturity Date or on the happening of any other Event of Default.

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