Mandatory Prepayment Redemption Sample Clauses

Mandatory Prepayment Redemption. (a) Upon the occurrence of a Change of Control (as hereinafter defined), the Borrowers shall, at the election of the Holder, prepay the outstanding principal amount of this Note at a redemption price equal to 101% of the outstanding principal amount of this Note (the "CHANGE OF CONTROL REDEMPTION PRICE"), together with interest accrued and unpaid thereon through the date of such prepayment and reasonable out-of-pocket costs and expenses (including, without limitation, reasonable fees, charges and disbursements of counsel), if any, associated with such prepayment. The Borrowers shall give written notice, in the manner specified in Section 15 hereof, to the Holder of the occurrence of a Change of Control at least fifteen (15) Business Days prior to the occurrence thereof; provided, however, that, if the Change of Control resulted from the acquisition of legal or beneficial ownership of 25% or more of the voting Equity Interests of Parent as contemplated by Section 3(b)(ii)(A) below by any executor, administrator, testamentary trustee, heir, legatee, beneficiary and/or distributee (collectively, "BENEFICIARIES") of Xxxxxx X. Xxxxx following his death, such notice shall be given within five (5) Business Days following his death. If the Holder makes the election pursuant to this Section 3(a), Borrowers shall pay the Change of Control Redemption Price, together with interest accrued and unpaid thereon and the expenses contemplated above, on the date that such Change of Control occurs; provided, however, that, if the Change of Control resulted from the acquisition of legal or beneficial ownership of 25% or more of the voting Equity Interests of Parent as contemplated by Section 3(b)(ii)(A) below by any Beneficiary of Xxxxxx X. Xxxxx following his death, the Borrower shall pay the Change of Control Redemption Price, together with interest accrued and unpaid thereon and the expenses contemplated above, on the date that is the earlier of (i) 270 days following Holder's election pursuant to this Section 3(a) and (ii) the date the outstanding principal of and all accrued interest on this Note is accelerated pursuant to Section 6(b). Until such payment is made in full, interest shall accrue and be paid in accordance with the terms of Section 2 and this Note shall be deemed outstanding for all purposes.
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Mandatory Prepayment Redemption. All of the Series 2013 Bonds are subject to redemption prior to their stated maturities, on any date, from the proceeds of the prepayment of Special Taxes, in whole or in part, at the redemption prices (expressed as a percentage of the principal amount of the Series 2013 Bonds to be redeemed) set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Dates Redemption Price September 11, , 2020 through March August 301, 2021 101102 September 1, 2021 through August 30, 2022 101 March September 21, , 2022, and thereafter 100 Prior to September 1, 2020 102103%
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Mandatory Prepayment Redemption. Concurrently with the consummation of any Specified Prepayment Event, the Companies shall jointly and severally prepay the Loan, together with accrued interest thereon and the applicable Redemption Charge as set forth in Section 1.6(c), by the amount of Net Proceeds received in connection with such Specified Prepayment Event (and by the full outstanding amount of the Loan, together with accrued interest thereon, in the event of a Change of Control).
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Mandatory Prepayment Redemption. If any event occurs which gives any party the right to redeem the Notes or to require the redemption of the Notes:
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Mandatory Prepayment Redemption 
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Related to Mandatory Prepayment Redemption

  • Mandatory Prepayment The Borrower shall be obliged to prepay the whole of the Loan if the Ship is sold or becomes a Total Loss:

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Mandatory Prepayment Upon an Acceleration If the Term Loan is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (a) all outstanding principal with respect to the Term Loan, plus accrued and unpaid interest thereon, (b) the Term Loan Prepayment Fee, and (c) all other sums, including Bank Expenses, if any, that shall have become due and payable hereunder in connection with the Term Loan.

  • Mandatory Prepayments of Loans If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied 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; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(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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