We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Notification of Certain Prepayments Clause in Contracts

Notification of Certain Prepayments. The Company shall notify the Administrative Agent by telephone (confirmed by facsimile or email transmission) of any voluntary prepayment of the Revolving Loans under Section 2.02(a) not later than 12:00 Noon, New York time, one Business Day before the date of such prepayment. The Company shall notify the Administrative Agent of any mandatory prepayment of the Revolving Loans pursuant to Section 2.02(b) as soon as practicable. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Revolving Loan or portion thereof to be prepaid, the Revolving Commitments Excess (if applicable), the section of this Agreement pursuant to which such prepayment is to be made, and the Permitted Use or Permitted Uses applicable to the Revolving Loans being prepaid. Promptly following receipt of any such notice, the Administrative Agent shall advise each Holder of the contents thereof, and of the amount of such Holder’s Pro Rata Share of such prepayment. Each such prepayment shall be applied to the Loans of the Holders in accordance with their respective Pro Rata Shares. The Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

Appears in 1 contract

Samples: Revolving Credit Facility (NewStar Financial, Inc.)

AutoNDA by SimpleDocs

Notification of Certain Prepayments. The Company shall notify the Administrative Agent by telephone (confirmed by facsimile or email transmission) of any voluntary prepayment of the Revolving Loans under Section 2.02(a) not later than 12:00 Noon, New York time, one Business Day before the date of such prepayment. The Company shall notify the Administrative Agent of any mandatory prepayment of the Revolving Loans pursuant to Section 2.02(b) as soon as practicable. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Revolving Loan or portion thereof to be prepaid, the Revolving Commitments Excess (if applicable), the section of this Agreement pursuant to which such prepayment is to be made, and the Permitted Use or Permitted Uses applicable to the Revolving Loans being prepaid. Promptly following receipt of any such notice, the Administrative Agent shall advise each Holder of the contents thereof, and of the amount of such Holder’s Pro Rata Share of such prepayment. Each such prepayment shall be applied to the Loans of the Holders in accordance with their respective Pro Rata Shares. The Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

Appears in 1 contract

Samples: Note Agreement (NewStar Financial, Inc.)

Notification of Certain Prepayments. The Company shall notify the Administrative Agent by telephone (confirmed by facsimile or email transmission) of any voluntary prepayment of the Revolving Term Loans under Section 2.02(a) not later than 12:00 Noon, New York time, one two (2) Business Day Days before the date of such prepayment. The Company shall notify the Administrative Agent of any mandatory prepayment of the Revolving Loans pursuant to Section 2.02(b) as soon as practicable. Each such notice shall be irrevocable and shall specify the prepayment date, date and the principal amount of each Revolving Term Loan or portion thereof to be prepaid; provided, that a notice of voluntary prepayment delivered by the Company pursuant to the terms hereof may state that such notice is conditioned upon the happening or occurrence of a specified event, the Revolving Commitments Excess (if applicable), the section proceeds of this Agreement pursuant to which such prepayment is are intended to be madeused to prepay such outstanding Term Loans, and in which case, such notice may be revoked by the Permitted Use or Permitted Uses applicable Company (by notice to the Revolving Loans being prepaidAdministrative Agent on or prior to the specified effective date) if such condition is not satisfied. Promptly following receipt of any such notice, the Administrative Agent shall advise each Holder Lender of the contents thereof, and of the amount of such HolderLender’s Pro Rata Share of such prepayment. Each such prepayment shall be applied to the Term Loans of the Holders Lenders in accordance with their respective Pro Rata Shares. The Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

Appears in 1 contract

Samples: Term Loan and Security Agreement (FS Energy & Power Fund)

AutoNDA by SimpleDocs

Notification of Certain Prepayments. The Company shall notify the Administrative Agent by telephone (confirmed by facsimile or email transmission) of any voluntary prepayment of the Revolving Loans under Section 2.02(a) not later than 12:00 Noon, New York time, one Business Day before the date of such prepayment. The Company shall notify provide written notice to the Administrative Agent of any mandatory prepayment of the Revolving Loans pursuant to Section 2.02(b) as soon as practicablenot less than five (5) Business Days prior to such prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, date and the principal amount of each Revolving Loan or portion thereof to be prepaid, the Revolving Commitments Excess (if applicable), the section of this Agreement pursuant to which such prepayment is to be made, and the Permitted Use or Permitted Uses applicable to the Revolving Loans being prepaid. Promptly following receipt of any such notice, the Administrative Agent shall advise each Holder of the contents thereof, and of the amount of such Holder’s Pro Rata Share of such prepayment. Each such prepayment shall be applied (a) to the Initial Term Loans, Delayed Draw Term A Loans, Delayed Draw Term B Loans, Delayed Draw Term A-1 Loans, Delayed Draw Term B-1 Loans and the New Term Loans (if any) ratably in accordance with the aggregate outstanding principal balance of each such Facility and (b) with respect to each Facility, to the Loans of such Facility held by the Holders in accordance with their respective Pro Rata Shares. The Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.

Appears in 1 contract

Samples: Note Agreement (NewStar Financial, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!