Common use of Optional and Mandatory Principal Payments on All Loans Clause in Contracts

Optional and Mandatory Principal Payments on All Loans. 2.6.1 Each Borrower may at any time and from time to time prepay Floating Rate Loans, in whole or in part, without penalty or premium, upon at least one Business Day’s irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayment of Floating Rate Loans shall be in a minimum aggregate amount of $1,000,000 or any integral multiple of $1,000,000 in excess thereof.

Appears in 4 contracts

Samples: Credit Agreement (Diebold Inc), Credit Agreement (Diebold Inc), Credit Agreement (Diebold Inc)

AutoNDA by SimpleDocs

Optional and Mandatory Principal Payments on All Loans. 2.6.1 Each 2.7.1. The Borrower may at any time and from time to time prepay Floating Rate Loans, in whole or in part, without penalty or premium, upon at least one Business Day’s 's irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayment of Floating Rate Loans shall be in a minimum aggregate amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof.

Appears in 3 contracts

Samples: Day Credit Agreement (Arvinmeritor Inc), Year Revolving Credit Agreement (Arvinmeritor Inc), Day Credit Agreement (Arvinmeritor Inc)

Optional and Mandatory Principal Payments on All Loans. 2.6.1 Each Borrower 2.9.1 The Company may at any time and from time to time prepay Floating Rate Loans, in whole or in part, without penalty or premium, upon at least one Business Day’s 's irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayment of Floating Rate Loans shall be in a minimum aggregate amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof.

Appears in 2 contracts

Samples: Credit Agreement (Meritor Automotive Inc), Credit Agreement (Meritor Automotive Inc)

Optional and Mandatory Principal Payments on All Loans. 2.6.1 Each Borrower 2.5.1 The Company may at any time and from time to time prepay Floating Rate Loans, in whole or in part, without penalty or premium, upon at least one Business Day’s 's irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayment of Floating Rate Loans shall be in a minimum aggregate amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Meritor Automotive Inc)

AutoNDA by SimpleDocs

Optional and Mandatory Principal Payments on All Loans. 2.6.1 Each Borrower 2.9.1. The Company may at any time and from time to time prepay Floating Rate Loans, in whole or in part, without penalty or premium, upon at least one Business Day’s 's irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayment of Floating Rate Loans shall be in a minimum aggregate amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Revolving Credit Agreement (Arvinmeritor Inc)

Optional and Mandatory Principal Payments on All Loans. 2.6.1 Each Borrower 30 37 2.9.1. The Company may at any time and from time to time prepay Floating Rate Loans, in whole or in part, without penalty or premium, upon at least one Business Day’s 's irrevocable notice to the Administrative Agent, specifying the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein. Partial prepayment of Floating Rate Loans shall be in a minimum aggregate amount of $1,000,000 5,000,000 or any integral multiple of $1,000,000 in excess thereof.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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