Common use of Early Payments Clause in Contracts

Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00, or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment shall, subject to Section 6.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Term Loan Commitments. (d) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment (e) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a) through (d) above, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (f) Borrower may, upon notice to the Agent specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 2 contracts

Samples: Revolving Credit and Term Loan Agreement (Doane Products Co), Revolving Credit and Term Loan Agreement (Doane Products Co)

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Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Floating Rate Loans, pay without penalty or premium such Base its Floating Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00, 100,000.00 or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.0025,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment shall, subject to Section 6.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Floating Rate Loans which results in the total outstanding Term Loans which are Base Floating Rate Loans being greater than zero but less than $1,500,000.00100,000.00. Each such optional payment shall be applied to pay the Base Floating Rate Loans of the several Banks in proportion to their respective Term Loan CommitmentsPro Rata Shares. (db) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 1,000,000.00 or any larger multiple of $250,000.00500,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of paymentpayment and any funding losses and other amounts payable under Section 2.10; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.001,000,000.00. Each such optional paymentpayment shall be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Pro Rata Shares. (ec) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a) through (d) abovethis Section, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share Pro Rata Share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (f) Borrower may, upon notice to the Agent specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Cpi Corp), Revolving Credit Agreement (Cpi Corp)

Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Prime Loans, pay without penalty or premium such Base Rate its Prime Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00, 200,000.00 or any larger multiple of $100,000.0050,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Prime Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Prime Loans being greater than zero but less than $1,500,000.00200,000.00. Each such optional payment shall be applied to pay the Base Rate Prime Loans of the several Banks in proportion to their respective Revolving Credit CommitmentsPro Rata Shares. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 2,000,000.00 or any larger multiple of $250,000.00500,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.002,000,000.00. Each such optional payment shall, subject to Section 6.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Term Loan Commitments. (d) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which a given Interest Period applies on other than the last day of such Interest Period appliesPeriod, in whole, or in part in amounts aggregating $2,500,000.00 2,000,000.00 or any larger multiple of $250,000.00500,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of paymentpayment and any funding losses and other amounts payable under Section 2.10; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.002,000,000.00. Each such optional paymentpayment shall be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Pro Rata Shares. (ec) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a) through (d) abovethis Section, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share Pro Rata Share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (f) Borrower may, upon notice to the Agent specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntco Inc)

Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.001,000,000.00, or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.001,000,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 1,000,000.00 or any larger multiple of $250,000.00100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that (i) in no event may Borrower pay any Loan with respect to which Borrower has given a notice of conversion to or continuation of a LIBOR Loan pursuant to Section 5.1(a) and (ii) in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.001,000,000.00. Each such optional payment shall, subject to Section 6.65.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Term Loan Commitments. (d) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment (e) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a5.4(a) through (db) above, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (fd) Borrower may, upon notice to the Agent Whitney specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Halter Marine Group Inc)

Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.001,000,000.00, or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.002,000,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 1,000,000.00 or any larger multiple of $250,000.00100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that (i) in no event may Borrower pay any Loan with respect to which Borrower has given a notice of conversion to or continuation of a LIBOR Loan pursuant to Section 5.1(a) and (ii) in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.002,000,000.00. Each such optional payment shall, subject to Section 6.65.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Term Loan Commitments. (d) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment (e) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a5.4(a) through (db) above, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (fd) Borrower may, upon notice to the Agent Whitney specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Superior Energy Services Inc)

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Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Prime Loans, pay without penalty or premium such Base Rate its Prime Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00, 200,000.00 or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.0050,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Prime Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment shall, subject to Section 6.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Prime Loans being greater than zero but less than $1,500,000.00200,000.00. Each such optional payment shall be applied to pay the Base Rate Prime Loans of the several Banks in proportion to their respective Term Loan CommitmentsPro Rata Shares. (db) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 2,000,000.00 or any larger multiple of $250,000.00500,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of paymentpayment and any funding losses and other amounts payable under Section 2.10; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.002,000,000.00. Each such optional paymentpayment shall be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Pro Rata Shares. (ec) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a) through (d) abovethis Section, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share Pro Rata Share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (f) Borrower may, upon notice to the Agent specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Huntco Inc)

Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.001,000,000.00, or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.001,000,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 1,000,000.00 or any larger multiple of $250,000.00100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.001,000,000.00. Each such optional payment shall, subject to Section 6.65.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Term Loan Commitments. (d) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 or any larger multiple of $250,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.00. Each such optional payment (e) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a5.4(a) through (db) above, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes. Amounts prepaid on account of the Term Loan may not be reborrowed. (fd) Borrower may, upon notice to the Agent Whitney specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 1 contract

Samples: Revolving Credit Agreement (Halter Marine Group Inc)

Early Payments. (a) Borrower may, upon notice to the Agent specifying that it is paying its Revolving Credit Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00, or any larger multiple of $100,000.00; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Revolving Credit Loans which are Base Rate Loans being greater than zero but less than $1,500,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Revolving Credit Commitments.aggregating (b) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Revolving Credit Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 1,000,000.00 or any larger multiple of $250,000.00100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Revolving Credit Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.001,000,000.00. Each such optional payment shall, subject to Section 6.67.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Revolving Credit Commitments. (c) Borrower may, upon notice to the Agent specifying that it is paying its Term Loans or its Purchase Money Loans which are Base Rate Loans, pay without penalty or premium such Base Rate Loans in whole at any time, or from time to time in part in amounts aggregating $1,500,000.00 1,000,000.00 or any larger multiple of $100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of Base Rate Loans which results in the total outstanding Term Loans which are Base Rate Loans or the total outstanding Purchase Money Loans which are Base Rate Loans being greater than zero but less than $1,500,000.001,000,000.00. Each such optional payment shall be applied to pay the Base Rate Loans of the several Banks in proportion to their respective Term Loan Commitments or Purchase Money Reducing Revolving Credit Commitments, as the case may be. (d) Borrower may, upon at least one (1) Eurodollar Business Day's notice to the Agent specifying that it is paying its Term Loans or its Purchase Money Loans which are LIBOR Loans, pay without penalty or premium on the last day of any Interest Period its LIBOR Loans to which such Interest Period applies, in whole, or in part in amounts aggregating $2,500,000.00 1,000,000.00 or any larger multiple of $250,000.00100,000.00, by paying the principal amount to be paid together with all accrued and unpaid interest thereon to and including the date of payment; provided, however, that in no event may Borrower make a partial payment of LIBOR Loans which results in the total outstanding Term Loans which are LIBOR Loans with respect to which a given Interest Period applies or the total outstanding Purchase Money Loans which are LIBOR Loans with respect to which a given Interest Period applies being greater than zero but less than $2,500,000.001,000,000.00. Each such optional paymentpayment shall, subject to Section 7.6, be applied to pay such LIBOR Loans of the several Banks in proportion to their respective Term Loan (e) Upon receipt of a notice of payment pursuant to any of Sections 6.4(a7.4(a) through (d) above, the Agent shall promptly notify each Bank of the contents thereof and of such Bank's ratable share of such payment and such notice shall not thereafter be revocable by Borrower. Partial prepayments of Borrower's Term Loans or Purchase Money Loans pursuant to (c) and (d) above shall be applied ratably in accordance with each Bank's Pro Rata Share thereof ratably to the remaining installments of principal (including any balloon payment at maturity) due under the Term Notes or the Purchase Money Notes, as the case may be. Amounts prepaid on account of the Term Loan may not be reborrowed. (f) Borrower may, upon notice to the Agent specifying that it is paying its Swing Loan, pay without penalty or premium such Swing Loan in whole at any time, or in part from time to time.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Doane Pet Care Co)

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