Optional Prepayment of Loan; Concurrent Bond Redemption Sample Clauses

Optional Prepayment of Loan; Concurrent Bond Redemption. (a) The portion of the Loan made from proceeds of the Series A-1 Bonds is subject to prepayment on or after September 1, 2030, and the portion of the Loan made from proceeds of the Series A-2 Bonds is subject to prepayment without premium or penalty at any time on or after December 1, 2016, in order to effect the redemption of the related Series of Bonds, as applicable, under Section 4.02 of the Indenture at the option of the Borrower, in whole or in part at the times and at the redemption prices as set forth in Section 4.02 of the Indenture plus interest accrued and unpaid to the redemption date of the Bonds. The consent of the Significant Bondholder is required only with respect to a redemption, in whole or in part, of the Series A-1 Bonds, and shall be given so long as the Borrower has complied with the applicable provisions of the Notes with respect to such prepayment. The consent of the Significant Bondholder is not required for the prepayment of the portion of the Loan funded with the Series A-1 Bonds on or after September 1, 2030, and the consent of the Significant Bondholder is not required for the redemption in whole of the Series A-2 Bonds on or after December 1, 2016, provided in either case, Borrower shall have provided Trustee and Significant Bondholder at least ten
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Optional Prepayment of Loan; Concurrent Bond Redemption. (a) The portion of the Loan made from proceeds of the Series A-1 Bonds is subject to prepayment on or after 1, 20 , and the portion of the Loan made from proceeds of the Series A-2 Bonds is subject to prepayment without premium or penalty at any time on or after 1, 20 , in order to effect the redemption of the Bonds under Section 4.02 of the Indenture at the option of the Borrower, with the prior written consent of the Significant Bondholder, in whole or in part at the times and at the redemption prices as set forth in Section 4.02 of the Indenture plus interest accrued and unpaid to the redemption date of the Bonds. The consent of the Significant Bondholder shall be given so long as the Borrower has complied with the applicable provisions of the Notes with respect to such prepayment. The Loan is not otherwise subject to optional prepayment by the Borrower.
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Optional Prepayment of Loan; Concurrent Bond Redemption. (a) The Owner shall have, and is hereby granted, the right and option to prepay the Loan as a whole or in part on any date upon payment to the Trustee, for deposit to the Revenue Fund prior to the date established for redemption or prepayment of the Bonds, in addition to amounts otherwise payable hereunder, an amount sufficient to pay the interest on, premium, if any, and principal of the Bonds so prepaid on such redemption date, or in the event such redemption is not scheduled to occur on or prior to the next Interest Payment Date, on each interest and principal payment date for such Bonds on and prior to the redemption date. There shall be deemed to be such payment when there is placed in trust an amount sufficient (including the known minimum yield available without reinvestment for such purpose from Government Securities in which such amount wholly or in part may be initially invested) to meet all debt service requirements on such Bonds in the manner provided in Article XII of the Indenture.
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Related to Optional Prepayment of Loan; Concurrent Bond Redemption

  • Term Loan Prepayments (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within three Business Days after receipt of the Net Cash Proceeds of a Debt Incurrence Prepayment Event (other than one covered by clause (iii) below) and within ten Business Days after the occurrence of any other Prepayment Event (or, in the case of Deferred Net Cash Proceeds, within ten Business Days after the Deferred Net Cash Proceeds Payment Date), prepay, in accordance with clause (c) below, Term Loans with an equivalent principal amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided that, with respect to the Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback, in each case solely to the extent with respect to any Collateral, the Borrower may use a portion of such Net Cash Proceeds to prepay or repurchase Permitted Other Indebtedness (and with such prepaid or repurchased Permitted Other Indebtedness permanently extinguished) with a Lien on the Collateral ranking equal with the Liens securing the Obligations to the extent any applicable Permitted Other Indebtedness Document requires the issuer of such Permitted Other Indebtedness to prepay or make an offer to purchase such Permitted Other Indebtedness with the proceeds of such Prepayment Event, in each case in an amount not to exceed the product of (x) the amount of such Net Cash Proceeds multiplied by (y) a fraction, the numerator of which is the outstanding principal amount of the Permitted Other Indebtedness with a Lien on the Collateral ranking equal with the Liens securing the Obligations and with respect to which such a requirement to prepay or make an offer to purchase exists and the denominator of which is the sum of the outstanding principal amount of such Permitted Other Indebtedness and the outstanding principal amount of Term Loans.

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

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