Common use of Method of Repayment Clause in Contracts

Method of Repayment. Upon receipt of notice from the Borrower or the Administrative Agent under Section 3.09(a) hereof, the Facility Agent shall give Written Notice in respect of any such Repayment to each Holder of Loans or Class E Securities affected, at least 5 Business Days before the Repayment Date for such Repayment. The Facility Agent shall not deliver any notice under this Section 3.09(b) unless and until the Facility Agent shall have received certification that all conditions precedent to such Repayment have been satisfied and evidence satisfactory to it that the amounts required to be deposited pursuant to this Section 3.09(b) hereof are, or will on or before the Repayment Date be, deposited in the Repayment Account. Each notice in respect of a Repayment given pursuant to this Section 3.09(b) shall state (i) the applicable Repayment Date, (ii) the Repayment Price or the Outstanding Principal Balance of the Loans and the Class E Securities to be repaid, and all accrued and unpaid interest, and (iii) in the case of a Repayment of the Loans or Class E Securities in whole, that, unless the Borrower defaults in the payment of the Repayment Price and any accrued and unpaid interest on the Loans or Class E Securities to be repaid, interest on the Loans or Class E Securities, as applicable, shall cease to accrue on and after the Repayment Date.

Method of Repayment. Upon receipt of notice from the Borrower or the Administrative Agent under Section 3.09(a) hereof, the Facility Agent shall give Written Notice in respect of any such Repayment to each Holder of Loans or Class E Securities affected, at least 5 Business Days before the Repayment Date for such Repayment. The Facility Agent shall not deliver any notice under this Section 3.09(b) unless and until the Facility Agent shall have received certification that all conditions precedent to such Repayment have been satisfied and evidence satisfactory to it that the amounts required to be deposited pursuant to this Section 3.09(b) hereof are, or will on or before the Repayment Date be, deposited in the Repayment Account. Each notice in respect of a Repayment given pursuant to this Section 3.09(b) shall state (i) the applicable Repayment Date, (ii) the Repayment Price or the Outstanding Principal Balance of the Loans and the Class E Securities to be repaid, and all accrued and unpaid interest, and (iii) in the case of a Repayment of the Loans or Class E Securities in whole, that, unless the Borrower defaults in the payment of the Repayment Price and any accrued and unpaid interest on the Loans or Class E Securities to be repaid, interest on the Loans or Class E Securities, as applicable, shall cease to accrue on and after the Repayment Date.