Optional and Mandatory Prepayments of Loans. (a) The Borrower shall ------------------------------------------- have the right at any time and from time to time to prepay any Loan, in whole or in part, without premium or penalty (but in any event subject to Section 2.13), upon prior written, telecopy or telephonic notice to the Agent given no later than 2:00 p.m., Philadelphia time, one Business Day before any proposed prepayment.
(b) If a certificate delivered pursuant to subsection 5.2(b) shows that during the period since the date of acquisition of all Acquired Eligible Portfolios which have been owned by the Borrower for at least six months and not transferred by the Borrower in connection with a Securitized Offering, the Net Proceeds received by the Borrower on account of the Receivables in all such Acquired Eligible Portfolios is less than seventy percent (70%) of the XXX Recovery Estimate for all such Acquired Eligible Portfolios for such period, then Borrower shall prepay to the Agent for the account of the Lenders, an amount equal to the product of (x) one percent (1%) times (y) the aggregate amount of the Loans made by the Lenders and applied toward the Portfolio Purchase Price of all such Acquired Eligible Portfolios, times (z) the difference (rounded to the nearest whole number) between (i) seventy and (ii) the percentage of Net Proceeds actually collected on all such Acquired Eligible Portfolios during such period. Such amount shall be applied as a prepayment of such Loans and shall be made ratably among the Lenders in accordance with their respective Commitment Percentages and shall be applied to installments due on such Loans in inverse order of maturity.
(c) Upon the sale or transfer by the Borrower of all or any part of the Receivables in an Acquired Eligible Portfolio in connection with a Securitized Offering, whether pursuant to a Receivables Purchase Agreement or otherwise, the Borrower shall immediately repay to the Agent for the account of the Lenders the outstanding principal amount of, and accrued interest on, the Loan related to such Acquired Eligible Portfolio.
(d) Each notice of prepayment shall specify the prepayment date and the principal amount of each Loan to be prepaid. All prepayments under this Section on other than Base Rate Borrowings shall be accompanied by accrued interest on the principal amount being prepaid to the date of prepayment.
(e) No payment on account of principal or interest shall be due in connection with, or as a condition to, the sale or transfer b...
Optional and Mandatory Prepayments of Loans. 46 SECTION 2.11 Alternate Rate of Interest............................... 49 SECTION 2.12
Optional and Mandatory Prepayments of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, without premium or penalty (but in any event subject to Section 2.14), upon prior written, telecopy or telephonic notice to the Administrative Agent given no later than 10:30 a.m., Philadelphia time, (i) in the case of Base Rate Loans, on the same day such prepayment is to be made, and (ii) in the case of Eurodollar Loans, three (3) Business Days before any proposed prepayment is to be made; provided, however, that each such partial prepayment shall be in the principal amount of at least (A) $500,000 or in whole multiples of $100,000 in the case of Base Rate Loans and (B) $500,000 or in whole multiples of $500,000 in excess thereof in the case of Eurodollar Loans.
(b) On the date of any termination or reduction of the Revolving Credit Commitments pursuant to Section 2.9, the Borrower shall pay or prepay so much of the Revolving Credit Loans as shall be necessary in order that the aggregate Revolving Credit Exposure of the Revolving Credit Lenders will not exceed the aggregate Revolving Credit Commitments of the Revolving Credit Lenders after giving effect to such termination or reduction.
(c) In the event of (i) any direct or indirect sale or other disposition of any of the assets, including lines of business, of any Subsidiary of the Parent (other than sales or dispositions referred to in subsections 6.5(a), (b) or (c)) (each, an “Asset Sale”) the sale price for which in the aggregate with all prior Asset Sales made since the date of this Agreement (but only those Asset Sales the Net Proceeds of which were not applied as a prepayment as hereinafter provided in this subsection 2.10(c)) is greater than $1,000,000, (ii) any sale or issuance of Capital Stock by the Parent (other than Capital Stock issued (x) to any seller in connection with a Permitted Acquisition or (y) pursuant to any employee equity plan of the Parent or its Subsidiaries), (iii) the incurrence of additional Indebtedness for borrowed money by the Parent or any of its Subsidiaries (other than Indebtedness incurred to a seller in connection with a Permitted Acquisition or otherwise permitted under Section 6.2 (other than Subordinated Debt under subsection (g) thereto unless such Subordinated Debt was incurred in connection with financing a Permitted Acquisition)), or (iv) any Material Recovery Event, the Borrower shall promptly prepay the outstanding Loans in an amount equal t...
Optional and Mandatory Prepayments of Loans. 18 2.10. Illegality .................................................... 18 2.11.
Optional and Mandatory Prepayments of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, without premium or penalty (but in any event subject to Section 2.13), upon prior written, telecopy or telephonic notice to the Agent given no later than 11:00 a.m., Philadelphia time, one Business Day before any proposed prepayment; provided, however, that each such partial prepayment of a Eurodollar Borrowing shall be in the principal amount of at least $500,000 or in whole multiples of $100,000 in excess thereof and each such partial prepayment of a Base Rate Borrowing shall be in the principal amount of at least $250,000 or in whole multiples of $50,000 in excess thereof.
(b) On the date of any termination or reduction of the Total Commitment pursuant to Section 2.8, the Borrower shall pay or prepay so much of the Borrowings as shall be necessary in order that the aggregate principal amount of the Loans then outstanding will not exceed the Total Commitment after giving effect to such termination or reduction.
(c) Each notice of prepayment shall specify the prepayment date and the principal amount of each Borrowing to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such Borrowing (or portion thereof) by the amount stated therein. All prepayments under this Section on other than Base Rate Borrowings shall be accompanied by accrued interest on the principal amount being prepaid to the date of prepayment.
Optional and Mandatory Prepayments of Loans. 174 SECTION 2.11 Alternate Rate of Interest 178 SECTION 2.12 Yield Protection; Change in Law Generally. 180
Optional and Mandatory Prepayments of Loans. Alternate Rate of Interest
Optional and Mandatory Prepayments of Loans. 1060441.101066947.03-CHISR01A - MSW
Optional and Mandatory Prepayments of Loans. Clause (c) of Section 2.10 of the Credit Agreement is hereby amended and restated in its entirety as follows:
Optional and Mandatory Prepayments of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay the Loans, in whole or in part, without premium or penalty (but in any event subject to Section 2.11), upon prior written, telecopy or telephonic notice to the Agent given no later than 11:00 a.m., Philadelphia time, one Business Day before any proposed prepayment; provided, however, that each such partial prepayment of Loans shall be in the principal amount of at least $500,000 or in whole multiples of $100,000 in excess thereof.
