Effect of cancellation and prepayment Sample Clauses

Effect of cancellation and prepayment on scheduled repayments (a) If the Company cancels the whole or any part of the Term Commitments in accordance with Clause 7.5 (Right of cancellation and repayment in relation to a single Lender) or if the Available Commitment of any Lender is cancelled under Clause 7.1 (Illegality) then (other than, in any relevant case, to the extent that any part of the relevant Term Commitment(s) so cancelled is subsequently increased pursuant to Clause 2.3 (Default Increase)) the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that cancellation will reduce pro rata by the amount cancelled. (b) If the Company cancels the whole or any part of the Term Commitments in accordance with Clause 7.2 (Voluntary cancellation) or if the whole or part of any Term Commitment is cancelled pursuant to Clause 5.6 (Cancellation of Commitment) then, the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that cancellation will reduce in inverse chronological order by the amount cancelled. (c) If any Term Loan is repaid or prepaid in accordance with Clause 7.5 (Right of cancellation and repayment in relation to a single Lender) or Clause 7.1 (Illegality) then, other than to the extent that any part of the relevant Commitment is subsequently increased pursuant to Clause 2.3 (Default Increase)), the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that repayment or prepayment will reduce pro rataby the amount of the Term Loan repaid or prepaid. (d) If any Term Loan is prepaid in accordance with Clause 7.3 (Voluntary prepayment of Term Loans), or Clause 8.2 (Disposal, Insurance and Acquisition Proceeds and Excess Cashflow) then the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that prepayment will reduce in inverse chronological order by the amount of the Term Loan prepaid. 0081727-0000042 SN:12155633.21 62
Sample 1
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Effect of cancellation and prepayment. (a) If any Utilisation or any part thereof is prepaid in accordance with Clause 8.3 (Voluntary prepayment): (i) (in the case of any Initial Term Facility Loan) the Company may apply such prepayment towards the reduction of the Initial Term Facility Repayment Instalment(s) for any Initial Term Facility Repayment Date(s) falling after that prepayment as it may choose in its sole discretion, provided that the aggregate amount of such reduction(s) shall be equal to the amount of that Initial Term Facility Loan prepaid; and/or (ii) (in the case of an Additional Facility Loan under any Additional Facility) the Company may apply such prepayment in such manner as specified in the Additional Facility Notice relating to such Additional Facility. (b) The Company may elect by notice to the Agent that all (or such part as the Company may specify) of such prepayments made pursuant to Clause 8.3 (Voluntary prepayment) of any Initial Term Facility Loan shall count towards the next mandatory prepayment which it is required to make under Clause 9.3 (Disposal Proceeds) in the same Financial Year in which such voluntary prepayment is made and, in such case, provided that it has made such prepayment under Clause 8.3 (Voluntary prepayment) and has been applied as if it had been a mandatory prepayment and is treated as a mandatory prepayment made on account of Clause 9.3 (Disposal Proceeds) for all purposes under this Agreement its obligation under Clause 9.3 (Disposal Proceeds) shall be reduced pro tanto.
Sample 1
Effect of cancellation and prepayment on scheduled repayments and reductions (a) If the Obligors’ Agent cancels the whole or any part of the Term Facility Commitments in accordance with Clause 13.7 (Cancellation of a Lender’s Commitment) or if the Term Facility Commitments of any Lender is reduced under Clause 16 (Illegality) then the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that cancellation will reduce pro rata by the amount cancelled. (b) If any of the Term Facility Advances are prepaid in accordance with Clause 13.7 (Cancellation of a Lender’s Commitment) or Clause 16 (Illegality), then the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that prepayment will reduce pro rata by the amount prepaid. (c) If any of the Term Facility Advances are prepaid in accordance with Clause 13.9 (Application Of Disposal Proceeds) or Clause 13.10 (Debt capital markets transactions), then the amount of the Repayment Instalment for each Term Facility Repayment Date falling after that prepayment will reduce pro rata by the amount prepaid.
Sample 1
Effect of cancellation and prepayment on scheduled repayments and reductions (a) If any Loan under a Facility (other than Facility B) is repaid or prepaid in accordance with Clause 7.4 (Right of cancellation and repayment in relation to a single Lender) or Clause 7.1 (Illegality) then, other than to the extent that the Commitments in respect of such Facility are subsequently increased pursuant to Clause 2.2 (Increase), the amount of the Repayment Instalment (in respect of such Facility) for each Repayment Date (in respect of such Facility) falling after that repayment or prepayment will reduce pro rata by the amount of such Loan so repaid or prepaid. (b) If any Loan under any Facility (other than Facility B) is prepaid in accordance with Clause 7.3 (Voluntary prepayment), such prepayment shall be applied to reduce the Repayment Instalments (in respect of such Facility) for Repayment Dates (in respect of such Facility) falling after the date of that prepayment in such order as the Borrower may specify at the time of such prepayment, provided that the aggregate amount of such reduction for all such Repayment Instalments shall not exceed the amount of that prepayment.
Sample 1
Effect of cancellation and prepayment. If any of the Utilisations are prepaid in accordance with Clause 7.3 (Voluntary prepayment of Utilisations) then the amount of the outstanding Utilisations and as between such Utilisations, shall be applied at the option of the Borrower.
Sample 1

Related to Effect of cancellation and prepayment

  • Effect of Cancellation If the Student cancels the housing agreement during a semester, the Student may remain in residence until the end of the semester the cancellation was given to UCF DHRL. The Student’s cancellation fees will be determined based on the date the Student’s written or electronically reproducible notice of cancellation is received by UCF DHRL Rent for the semester the cancellation is submitted to UCF DHRL will be based upon the date the Student vacates the residence facility in compliance with move out procedures. Notwithstanding anything in this agreement, the Student is always responsible for the greater of the pro rata rent for the semester of cancellation or the cancellation fee for that semester. Residents who cancel this agreement will not be given any preference as a current or prior resident when submitting applications for future residence with UCF DHRL.

  • Effect of Prepayments Amounts of the Revolving Credit Loans prepaid under §3.2 and §3.3 prior to the Revolving Credit Maturity Date may be reborrowed as provided in §2. Any portion of the Term Loans that is prepaid may not be reborrowed.

  • Redemption and Prepayment Section 3.01

  • Application of Prepayments (i) Prior to any optional or mandatory prepayment of Borrowings hereunder, Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to paragraph (i) of this Section 2.10(i). Subject to Section 9.04 and so long as no Event of Default shall then exist and be continuing, all mandatory prepayments shall be applied as follows: first, to Fees and reimbursable expenses of the Administrative Agent and the Collateral Agent then due and payable pursuant to the Loan Documents; second, to interest then due and payable on all Loans; third, to the principal balance of the Swingline Loan until the same has been repaid in full; fourth, to the outstanding principal balance of Revolving Loans until the same has been paid in full, including accompanying accrued interest and charges under Sections 2.12, 2.13 and 2.15 (Borrower may elect which of any Eurodollar Revolving Borrowings is to be prepaid); fifth, to cash collateralize all LC Exposures plus any accrued and unpaid Fees with respect thereto (to be held and applied in accordance with Section 2.18(j) hereof); sixth, to all other Obligations pro rata in accordance with the amounts that such Lender certifies is outstanding; and, seventh, returned to Borrower or to such party as otherwise required by law. All such mandatory prepayments of the Revolving Loans shall cause a corresponding reduction in the Revolving Commitments of the Lenders in accordance with their applicable Revolving Commitments. (ii) Amounts to be applied pursuant to this Section 2.10 to the prepayment of Revolving Loans shall be applied, as applicable, first to reduce outstanding ABR Revolving Loans, respectively. Any amounts remaining after each such application shall be applied to prepay Eurodollar Revolving Loans, as applicable. Notwithstanding the foregoing, if the amount of any prepayment of Loans required under this Section 2.10 shall be in excess of the amount of the ABR Loans at the time outstanding, only the portion of the amount of such prepayment as is equal to the amount of such outstanding ABR Loans shall be immediately prepaid and, at the election of Borrower, the balance of such required prepayment shall be prepaid immediately, together with any amounts owing to the Lenders under Section 2.13.

  • Prepayment and Cancellation 29 10. Interest........................................................ 31 11. Terms........................................................... 33 12.

  • Application of Prepayments Reductions (i) Any prepayment of any Loan pursuant to Section 2.07(a) shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied to prepay each Class of outstanding Loans on a pro rata basis and, within each Class, to reduce the remaining scheduled installments of principal in direct order of maturity. (ii) Any amount required to be paid pursuant to Section 2.07(b)(i) and Section 2.07(b)(iv) shall be applied ratably to each Class of outstanding Loans and, within each such Class, (i) first, to reduce the next eight scheduled payments required under Section 2.06(a) (or the applicable Incremental Amendment, Refinancing Amendment or Extension Amendment) in direct order of maturity and (ii) second, to the remaining scheduled payments required thereunder on a pro rata basis; provided that, if at the time any amount is required to be paid pursuant to Section 2.07(b)(i) the Borrower is required to offer to repurchase or prepay Permitted Pari Passu Refinancing Debt or Incremental Equivalent Debt pursuant to the terms of the documentation governing such Indebtedness with Net Cash Proceeds received from an Asset Sale or Recovery Event (such Permitted Pari Passu Refinancing Debt or Incremental Equivalent Debt required to be offered to be so repurchased or prepaid, “Other Applicable Indebtedness”), then the Borrower may apply such Net Cash Proceeds on a pro rata basis (determined on the basis of the aggregate outstanding principal amount of the Loans and Other Applicable Indebtedness at such time; provided that the portion of such proceeds allocated to Other Applicable Indebtedness shall not exceed the amount of such proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of such Net Cash Proceeds shall be allocated to the Loans in accordance with the terms hereof) to the prepayment of the Loans and to the repurchase or prepayment of such Other Applicable Indebtedness, and the amount of prepayment of the Loans that would otherwise have been required pursuant to Section 2.07(b)(i) shall be reduced accordingly; provided, further, that to the extent the holders of Other Applicable Indebtedness decline to have such Indebtedness purchased or prepaid, the declined amount shall promptly (and in any event within 10 Business Days after the date of such rejection) be applied to prepay the Loans in accordance with the terms hereof. (iii) Any amount required to be paid pursuant to Section 2.07(b)(ii) and Section 2.07(b)(v) shall be applied ratably to each Class of outstanding Loans and, within each such Class, to the remaining scheduled payments required thereunder on a pro rata basis. (iv) Any amount required to be paid pursuant to Section 2.07(b)(iii) shall be applied ratably to each Class of outstanding Loans and, within each such Class, (i) first, to reduce the next eight scheduled payments required under Section 2.06(a) (or the applicable Incremental Amendment, Refinancing Amendment or Extension Amendment) in direct order of maturity and (ii) second, to the remaining scheduled payments required thereunder on a pro rata basis; provided that any prepayment of Loans with the Net Cash Proceeds of Credit Agreement Refinancing Indebtedness shall be applied solely to each applicable Class of Credit Agreement Refinanced Debt. (v) Anything contained herein to the contrary notwithstanding, in the event the Borrower is required to make any mandatory prepayment (a “Waivable Mandatory Prepayment”) of the Loans (other than any prepayment pursuant to Section 2.07(b)(v)), not less than five Business Days prior to the date (the “Required Prepayment Date”) on which the Borrower is required to make such Waivable Mandatory Prepayment, the Borrower shall notify the Administrative Agent of the amount of such prepayment, and the Administrative Agent will promptly thereafter notify each Lender holding an outstanding Loan of the amount of such Lender’s pro rata share of such Waivable Mandatory Prepayment and such Lender’s option to refuse such amount (such declined amount, the “Declined Proceeds”). Each such Lender may exercise such option by giving written notice to the Borrower and the Administrative Agent of its election to do so on or before the third Business Day prior to the Required Prepayment Date (it being understood that any Lender which does not notify the Borrower and the Administrative Agent of its election to exercise such option on or before the third Business Day prior to the Required Prepayment Date shall be deemed to have elected, as of such date, not to exercise such option). Any Declined Proceeds may be retained by the Borrower.

  • Application of prepayment The provisions of Clause 8 shall apply in relation to the prepayment.

  • Repayment Prepayment and Cancellation 6 REPAYMENT

  • Section 309 Cancellation All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Securities held by the Trustee shall be disposed of as directed by a Company Order.

  • Application of Mandatory Prepayments All amounts required to be paid pursuant to this Section 2.06(b) shall be applied as follows: (A) with respect to all amounts prepaid pursuant to Section 2.06(b)(i), first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; (B) with respect to all amounts prepaid pursuant to Section 2.06(b)(iii), ratably to the Term B Loans (to the principal amortization payments scheduled to be made in direct order of maturity); and (C) with respect to all amounts prepaid pursuant to Sections 2.06(b)(ii) and (iv), first ratably to the Term Loans (initially, to the first eight principal amortization payments scheduled to be made in direct order of maturity and, thereafter, on a pro rata basis to the remaining principal amortization payments of the applicable Term Loan), second, ratably to the L/C Borrowings and the Swing Line Loans, third, to the outstanding Revolving Loans, and fourth, to Cash Collateralize the remaining L/C Obligations (without a commitment reduction thereunder). Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurocurrency Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.06(b) shall be subject to Section 3.05, but otherwise without premium or penalty and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

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