Common use of Optional and Mandatory Prepayments of Loans Clause in Contracts

Optional and Mandatory Prepayments of Loans. (a) The Borrowers may at any time and from time to time prepay the Loans (subject to compliance with the terms of Section 2.16), in whole or in part, upon irrevocable notice by the Borrower Representative to the Administrative Agent not later than 12:00 noon, New York City time, two Business Days prior to the date of such prepayment (provided, that no notice shall be required in connection with the repayment of the Term A Loans and the Term C Loans), specifying (i) the date and amount of prepayment, and (ii) the Class of Loans to be prepaid and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof (including in the case of Eurodollar Loans, the Borrowing to which such prepayment is to be applied and, if of a combination thereof, the amount allocable to each; provided that in connection with any prepayment of Term D Loans prior to October 22, 2005 out of the proceeds of a substantially concurrent issuance or incurrence of term loans under this Agreement (excluding a refinancing of all the Loans in connection with another transaction not permitted by this Agreement (as determined prior to giving effect to any amendment or waiver of this Agreement in connection with such transaction)), shall be accompanied by a prepayment fee equal to 1.0% of the aggregate amount of such prepayment if any of the interest rates payable in respect of such term loans is less than the corresponding interest rate that would have been payable in respect of the Term D Loans. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Loans (other than Swingline Loans) shall be in a minimum principal amount of $3.0 million or a whole multiple of $1.0 million in excess thereof (or, if Table of Contents less, the remaining outstanding principal amount thereof). Partial prepayments of Swingline Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the remaining outstanding principal amount thereof).

Appears in 1 contract

Samples: Credit Agreement (Consolidated Communications Illinois Holdings, Inc.)

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Optional and Mandatory Prepayments of Loans. (a) The Borrowers may at any time and from time to time prepay the Loans (subject to compliance with the terms of Section 2.16), in whole or in part, upon irrevocable prior written notice by the Borrower Representative to the Administrative Agent substantially in the form of Exhibit H (a “Notice of Prepayment”) not later than 12:00 noon, New York City time, noon two Business Days prior to the date of such prepayment (provided, that no notice shall be required in connection with the repayment of the Term A Loans and the Term C Loans)prepayment, specifying (i) the date and amount of prepayment, and (ii) the Class of Loans to be prepaid and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof (including including, in the case of Eurodollar Loans, the Borrowing to which such prepayment is to be applied and, if of a combination thereof, the amount allocable to each; provided that in connection with any prepayment ). A Notice of Term D Loans prior to October 22, 2005 out of the proceeds of a substantially concurrent issuance or incurrence of term loans under this Agreement (excluding a refinancing of all the Loans in connection with another transaction not permitted by this Agreement (as determined prior to giving effect to any amendment or waiver of this Agreement in connection with such transaction)), Prepayment received after 12:00 noon shall be accompanied by a prepayment fee equal to 1.0% of deemed received on the aggregate amount of such prepayment if any of the interest rates payable in respect of such term loans is less than the corresponding interest rate that would have been payable in respect of the Term D Loansnext Business Day. Upon receipt of any such notice Notice of Prepayment the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice Notice of Prepayment is given, the amount specified in such notice Notice of Prepayment shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Loans (other than Swingline Loans) shall be in a minimum principal amount of $3.0 million or a whole multiple of $1.0 million in excess thereof (or, if Table of Contents less, the remaining outstanding principal amount thereof). Partial prepayments of Swingline Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the remaining outstanding principal amount thereof).

Appears in 1 contract

Samples: Credit Agreement (Consolidated Communications Holdings, Inc.)

Optional and Mandatory Prepayments of Loans. (a) The Borrowers Borrower may at any time and from time to time prepay the Loans (subject to compliance with the terms of Section 2.162.17), in whole or in part, upon irrevocable prior written notice by the Borrower Representative to the Administrative Agent substantially in the form of Exhibit H (a “Notice of Prepayment”) not later than 12:00 noon, New York City time, noon two Business Days prior to the date of such prepayment (provided, that no notice shall be required in connection with the repayment of the Term A Loans and the Term C Loans)prepayment, specifying (i) the date and amount of prepayment, and (ii) the Class of Loans to be prepaid and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof (including including, in the case of Eurodollar Loans, the Borrowing to which such prepayment is to be applied and, if of a combination thereof, the amount allocable to each; provided that in connection with any prepayment ). A Notice of Term D Loans prior to October 22, 2005 out of the proceeds of a substantially concurrent issuance or incurrence of term loans under this Agreement (excluding a refinancing of all the Loans in connection with another transaction not permitted by this Agreement (as determined prior to giving effect to any amendment or waiver of this Agreement in connection with such transaction)), Prepayment received after 12:00 noon shall be accompanied by a prepayment fee equal to 1.0% of deemed received on the aggregate amount of such prepayment if any of the interest rates payable in respect of such term loans is less than the corresponding interest rate that would have been payable in respect of the Term D Loansnext Business Day. Upon receipt of any such notice Notice of Prepayment the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice Notice of Prepayment is given, the amount specified in such notice Notice of Prepayment shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Loans (other than Swingline Loans) shall be in a minimum principal amount of $3.0 million or a whole multiple of $1.0 million in excess thereof (or, if Table of Contents less, the remaining outstanding principal amount thereof). Partial prepayments of Swingline Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the remaining outstanding principal amount thereof). Each prepayment of the Initial Term Loans under this Section 2.05(a) shall be applied first, to the Initial Term-1 Loans, second, to the Initial Term-2 Loans, and in each case shall be applied as directed by the Borrower to the remaining scheduled installments of the Initial Term-1 Loans or Initial Term-2 Loans, as the case may be.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Communications Holdings, Inc.)

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Optional and Mandatory Prepayments of Loans. (a) The Borrowers Borrower may at any time and from time to time prepay the Loans (subject to compliance with the terms of Section 2.162.05(g) and Section 2.17), in whole or in part, upon irrevocable prior written notice by the Borrower Representative to the Administrative Agent substantially in the form of Exhibit G (a “Notice of Prepayment”) not later than 12:00 noon, New York City time, noon two Business Days prior to the date of such prepayment (provided, that no notice shall be required in connection with the repayment of the Term A Loans and the Term C Loans)prepayment, specifying (i) the date and amount of prepayment, and (ii) the Class of Loans to be prepaid and whether the prepayment is of Eurodollar Loans, ABR Loans or a combination thereof (including including, in the case of Eurodollar Loans, the Borrowing to which such prepayment is to be applied and, if of a combination thereof, the amount allocable to each; provided that in connection with any prepayment ). A Notice of Term D Loans prior to October 22, 2005 out of the proceeds of a substantially concurrent issuance or incurrence of term loans under this Agreement (excluding a refinancing of all the Loans in connection with another transaction not permitted by this Agreement (as determined prior to giving effect to any amendment or waiver of this Agreement in connection with such transaction)), Prepayment received after 12:00 noon shall be accompanied by a prepayment fee equal to 1.0% of deemed received on the aggregate amount of such prepayment if any of the interest rates payable in respect of such term loans is less than the corresponding interest rate that would have been payable in respect of the Term D Loansnext Business Day. Upon receipt of any such notice Notice of Prepayment the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice Notice of Prepayment is given, the amount specified in such notice Notice of Prepayment shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Loans (other than Swingline Loans) shall be in a minimum principal amount of $3.0 million or a whole multiple of $1.0 million in excess thereof (or, if Table of Contents less, the remaining outstanding principal amount thereof). Partial prepayments of Swingline Loans shall be in a minimum principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the remaining outstanding principal amount thereof). Each prepayment of the Initial Term Loan under this Section 2.05(a) shall be applied as directed by the Borrower to the remaining scheduled installments of the Initial Term Loan.

Appears in 1 contract

Samples: Credit Agreement (Consolidated Communications Holdings, Inc.)

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