Common use of Mandatory Prepayment of the Cure Amount Clause in Contracts

Mandatory Prepayment of the Cure Amount. On each Interest Payment Date (or, at the Borrower’s election, on any earlier date, subject to the payment of breakage costs in accordance with Section 2.14, if applicable), the Borrower shall make a mandatory prepayment of the Loans in an amount equal to 100% of the Cure Amount received by the Borrower since the last Interest Payment Date and not yet applied in accordance with this Section 2.09(c). Any such amount required to be prepaid hereunder shall be applied in accordance with Section 2.09(g) and Section 2.09(h) below.

Appears in 6 contracts

Samples: Term Loan Credit Agreement (Cleco Power LLC), Term Loan Agreement (Cleco Power LLC), Bridge Loan Agreement

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Mandatory Prepayment of the Cure Amount. On each Interest Payment Date (or, at the Borrower’s election, on any earlier date, subject to the payment of breakage costs in accordance with Section 2.142.17, if applicable), the Borrower shall make a mandatory prepayment of the Loans in an amount equal to 100% of the Cure Amount received by the Borrower since the last Interest Payment Date and not yet applied in accordance with this Section 2.09(c2.12(d). Any such amount required to be prepaid hereunder shall be applied in accordance with Section 2.09(g2.12(h) and Section 2.09(h2.12(i) below.

Appears in 1 contract

Samples: Credit Agreement (Cleco Power LLC)

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