Optional and Mandatory Prepayment. (a) The Borrower shall have the right at any time to prepay the whole, or any part, of the unpaid principal amount of the Loan, without premium or penalty, upon the terms hereinafter set forth, and provided that interest on the principal amount thereof to be so prepaid accrued to the date of such prepayment shall be paid concurrently therewith; provided, however, that the Borrower shall not prepay the Loan, or any part thereof, unless such prepayment upon all the Notes is contemporaneously made, pro rata based upon the outstanding principal amount of the Notes, respectively.
(b) Upon the consummation from time to time by the Borrower of any sale for cash of any debt or equity securities, or of any other financing transaction for borrowed money (other than capital leasing transactions or purchase money financings), and subject to the Subordination Agreements, the net proceeds thereof shall in each case forthwith be applied by the Borrower to the prepayment of the Loan, without premium or penalty, but together with all interest on the principal amount thereof to be so prepaid accrued to the date of such prepayment; it being understood and agreed that any prepayment made by the Borrower pursuant to this paragraph (b) shall be made upon all Notes contemporaneously, pro rata based upon the outstanding principal amount of the Notes, respectively.
(c) Notices of prepayment shall be given by the Borrower to the Lenders, respectively, not less than five days prior to the date specified therein for prepayment. Upon giving of notice of prepayment as aforesaid, the Loan or portion thereof so specified for prepayment shall on the prepayment date specified in such notice become due and payable, and from and after the prepayment date so specified (unless the Borrower shall default in making such prepayment) interest on the principal of the Loan or portion thereof so specified for prepayment shall cease to accrue, and the principal of the Loan or portion thereof so specified for prepayment shall be paid by the Borrower as aforesaid.
Optional and Mandatory Prepayment. (a) The Borrower may prepay Loans bearing interest on the same basis and having the same Interest Periods, if any, by giving notice to the Administrative Agent not later than 1:00 P.M., New York time, on the third Business Day preceding the proposed date of prepayment, in the case of Eurodollar Loans, or not later than 1:00 P.M., New York time, on the Business Day of the proposed prepayment, in the case of ABR Loans. Each such prepayment of Eurodollar Loans shall be in an aggregate principal amount of $25,000,000 or in integral multiples of $1,000,000 in excess thereof (or, if the aggregate amount of outstanding Eurodollar Loans is less than $25,000,000, then all of such lesser amount), and each prepayment of ABR Loans shall be in an aggregate amount of $10,000,000 or in integral multiples of $100,000 in excess thereof (or, if the aggregate amount of outstanding ABR Loans is less than $10,000,000, then all of such lesser amount), and, in the case of Eurodollar Loans, together with the amounts required by Section 4.03, accrued interest on the principal being prepaid to the date of prepayment.
(b) After the Closing Date, the Borrower shall prepay all Loans (which prepayment shall be applied ratably among the Lenders and shall be without penalty or premium) dollar-for-dollar, by (i) 100% of the Net Cash Proceeds (other than the Net Cash Proceeds of any Debt Incurrence of Equity Issuance to the extent the Commitments were previously reduced pursuant to Section 2.03(c)) received by the Borrower or any of its Subsidiaries from any Debt Offering or Equity Issuance and/or (ii) 100% of the committed amount under any Qualified Acquisition Financing. The Borrower shall provide the Administrative Agent with written notice (which may not be revoked) no later than 5:00 P.M. New York time three (3) Business days following the receipt of Net Cash Proceeds or the availability of any committed amount under any Qualified Acquisition Financing, as the case may be, setting forth (x) the amount of such Net Cash Proceeds (including the calculation thereof) or such commitment and (y) the event giving rise to such Net Cash Proceeds or such commitment. Upon receipt of a written notice provided pursuant to this clause (b), the Administrative Agent shall promptly notify each Lender of the contents thereof and of such Lender’s ratable share of such prepayment. All prepayments made pursuant to this clause (b) shall be accompanied by accrued interest on the principal being prepaid to th...
Optional and Mandatory Prepayment. The Loan Parties may prepay principal and accrued interest on the Term Loan at any time, in any amount and without penalty. All prepayments of principal and interest shall be applied first to accrued interest, and second to principal. Subject to compliance with the Revolving Credit Facility, the Loan Parties shall, within two (2) Business Days of receipt thereof, apply all cash proceeds of an Equity Offering or Indebtedness Offering, net of taxes and customary fees, commissions, costs and other expenses incurred in connection therewith, to prepay the outstanding principal balance of the Term Loan plus any accrued interest.
Optional and Mandatory Prepayment. At any time prior to the Maturity Date the Borrower shall have the right to make full or partial payments of the unpaid principal balance and the Interest payable under this Note (“Prepayment”); provided that in the event any principal balance is prepaid prior to the six-month anniversary of the Closing Date, the total amount of Interest that shall be paid with respect to the portion of the principal amount so prepaid (including any previous payments of Interest) shall be equal to six months of Interest. The Borrower shall prepay the Note in full out of the proceeds of a new debt or equity capital raise with net proceeds of more than $5,000,000.
Optional and Mandatory Prepayment. At any time prior to the Maturity Date the Borrower shall have the right to make full or partial payments of the unpaid principal balance and the Interest payable under this Note (“Prepayment”); provided that in the event any principal balance is prepaid prior to the six-month anniversary of the Closing Date, the total amount of Interest that shall be paid with respect to the portion of the principal amount so prepaid (including any previous payments of Interest) shall be equal to six months of Interest.
Optional and Mandatory Prepayment. The Loan may be prepaid in whole or in part, in each case without premium or penalty upon written notice to Lender. In the event the loan under the Squadron Credit Agreement (as defined herein) is prepaid in whole, the Loan shall be subject to mandatory prepayment. No amount of the Loan once repaid may be reborrowed.
Optional and Mandatory Prepayment. 38 6.4 Conversion and Continuation Options.......................... 41 6.5
Optional and Mandatory Prepayment. 21 Section 7.1. Obligation to Prepay Installments..................... 21 Section 7.2. Option to Prepay Installments......................... 21 Section 7.3. Amount of Prepayment in Certain Events................ 22 Section 7.4. Option to Prepay Installments for Optional Redemption of Bonds........................................... 23 Section 7.5. Notice of Prepayment................................
Optional and Mandatory Prepayment. (a) The Borrower shall have the right at any time and from time to time, upon notice to the Administrative Agent by 12:00 p.m. at least three (3) Business Days prior to the date of such prepayment in the case of Eurocurrency Loans (or one (1) Business Day prior to the date of such prepayment in the case of ABR Loans) to prepay the Loans in whole or in part, without premium or penalty (but, except in connection with any prepayment described in the second sentence of Section 2.10, subject to Section 2.16), in an aggregate principal amount of no less than $1.0 million plus integral multiples of $500,000 or, if less, the amount outstanding; provided that such prepayment shall be applied in accordance with Section 2.11(c).
(b) In the event and on such occasion that the Collateral Coverage Condition fails to be satisfied, the Borrower shall provide the Administrative Agent with prompt written notice thereof (which notice may be delivered electronically), which in no event shall be later than 12:00 p.m. on the next Business Day, and within three (3) Business Days after the earlier of
Optional and Mandatory Prepayment. Section 7.1. Obligation to Prepay Installments. Section 7.2. Option to Prepay Installments. Section 7.3. Amount of Prepayment in Certain Events.
