Common use of Optional Prepayment of Loans; Reimbursement of Lenders Clause in Contracts

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m., Charlotte, North Carolina time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, that (i) each such partial prepayment shall be in multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Guilford Mills Inc)

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Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, however, that (i) each such partial prepayment shall be in multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Acterna Corp)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower Borrowers shall have the right at any time and from time to time to prepay any Loans without penalty (except for any breakage costs associated with Eurodollar Loans), in whole or in part, (x) with respect to Eurodollar Loans, upon at least three (3) Business Days' prior written written, telex, facsimile or facsimile telephonic (confirmed promptly in writing) notice to the Administrative Agent and (y) with respect to ABR Loans on the same Business Day if written written, telex, facsimile or facsimile telephonic (confirmed promptly in writing) notice is received by the Administrative Agent prior to 11:00 a.m.1:00 p.m., Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written written, telex, facsimile or facsimile telephonic (confirmed promptly in writing) notice to the Administrative Agent; provided, however, that (i) each such partial prepayment -------- ------- shall be in integral multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last --------------- day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of --------------- Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower Borrowers to prepay such Loan by the amount and on the date stated therein. The Administrative Agent shall, promptly after receiving notice from the Borrower Borrowers hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Loan and Guaranty Agreement (Federal Mogul Corp)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower Borrowers shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three (3) Business Days' prior written written, telex or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written written, telex or facsimile notice is received by the Agent prior to 11:00 a.m.1:00 p.m., Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written written, telex or facsimile notice to the Agent; provided, however, that (i) each such partial prepayment shall be in a minimum amount of $5,000,000 or integral multiples of $1,000,0001,000,000 in excess thereof, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower Borrowers to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower Borrowers hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Icg Holdings Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Canadian Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, provided that (i) each such partial prepayment shall be in multiples of $1,000,000500,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Canadian Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Canadian Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which that are to be prepaid, the prepayment date and the manner of application of the prepayment. For the avoidance of doubt, any amount prepaid pursuant to this Section 2.14 may be reborrowed in accordance with this Agreement.

Appears in 1 contract

Samples: Credit, Guarantee and Security Agreement (Gentek Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower Borrowers shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three (3) Business Days' prior written or facsimile advance notice to the Agent from SHG and (y) with respect to ABR Loans Loans, on the same Business Day if written or facsimile Day, subject to advance notice is received by the Lenders' Agent prior to 11:00 a.m.from SHG before 12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, however, that (i) with respect to Eurodollar Loans, each such partial prepayment shall be in multiples a multiple of $1,000,000, (ii) no with respect to ABR Loans, each such partial prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day a minimum of an Interest Period applicable thereto unless such prepayment is accompanied by the payment $1,000,000 or any higher multiple of the amounts described in clause (i) of the first sentence of Section 2.14(b)$100,000, and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall be permitted if it would result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of intent to make a prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which such Loans were made, shall be irrevocable and shall commit the Borrower Borrowers to prepay such Loan Loans by the amount and on the date stated therein. The Lenders' Agent shall, promptly after receiving any notice from the Borrower given by SHG hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Sun Healthcare Group Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Subject to the prior payment in full of any New Revolving Loans at the time outstanding, the Borrower shall have the right at any time and from time to time to prepay any New Term Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written written, telex or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written written, telex or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's Days prior written written, telex or facsimile notice to the Agent; provided, that (i) with respect to Eurodollar Loans, each such partial prepayment shall be in integral multiples of $5,000,000, (ii) with respect to ABR Loans, each such partial prepayment shall be in integral multiples of $1,000,000, (iiiii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described Borrower pays breakage costs as provided in clause (i) of the first sentence of Section 2.14(b2.13(b)(i), and (iiiiv) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and (and, in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made), shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each New Term Lender of the principal amount of the New Term Loans held by such New Term Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit Agreement (Payless Cashways Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written written, telex or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written written, telex or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written written, telex or facsimile notice to the Agent; provided, that (i) with respect to Eurodollar Loans, each such partial prepayment shall be in integral multiples of $1,000,000, (ii) with respect to ABR Loans, each such partial prepayment shall be in integral multiples of $1,000,000, (iii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a2.13(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described Borrower pays breakage costs as provided in clause (i) of the first sentence of Section 2.14(b2.13(b)(i), and (iiiiv) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Payless Cashways Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, provided that (i) each such partial prepayment shall be in multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (McLeodusa Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, outstanding Loans in whole or in part, (x) with respect to Eurodollar Loans, upon at least three two (2) Business Days' prior written written, telex or facsimile notice to the Administrative Agent prior to 1:00 p.m., Boston time, and (y) with respect to ABR Loans Prime Rate Loans, on the same Business Day if written written, telex or facsimile notice is received by the Administrative Agent prior to 11:00 a.m.1:00 p.m., Charlotte, North Carolina Boston time, and thereafter upon at least one Business Day's prior written or facsimile notice subject to the Agent; providedfollowing limitations: Subject to Section 2.24, that (i) all prepayments shall be paid to the Administrative Agent for application, first, to the prepayment of outstanding Swingline Loans, second, to the prepayment of other outstanding Loans ratably in accordance with each such Lender's Commitment Percentage, and third, to the funding of a cash collateral deposit in the Cash Collateral Account in an amount equal to 103% of all Letter of Credit Outstandings. Subject to the foregoing, outstanding Prime Rate Loans shall be prepaid before outstanding Eurodollar Loans are prepaid. Each partial prepayment of Eurodollar Loans shall be in multiples an integral multiple of $1,000,000, (ii) no 500,000. No prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) 2.21 other than on the last day of an Interest Period applicable thereto thereto, unless such prepayment is accompanied by the payment of Borrower simultaneously reimburses the amounts described Lenders for all "Breakage Costs" (as defined in clause (iSection 2.21(b) of the first sentence of Section 2.14(b), and (iiibelow) no associated therewith. No partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount and Type of the Loans to be prepaid and and, in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which such Loans were made, . Each notice of prepayment shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Administrative Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount and Type of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment. The Borrower shall reimburse each Lender on demand for any loss incurred or to be incurred by it in the reemployment of the funds released (i) resulting from any prepayment (for any reason whatsoever, including, without limitation, conversion to Prime Rate Loans or acceleration by virtue of, and after, the occurrence of an Event of Default) of any Eurodollar Loan required or permitted under this Agreement, if such Loan is prepaid other than on the last day of the Interest Period for such Loan or (ii) in the event that after the Borrower delivers a notice of borrowing under Section 2.04 in respect of Eurodollar Loans, such Loans are not made on the first day of the Interest Period specified in such notice of borrowing for any reason other than a breach by such Lender of its obligations hereunder or the delivery of any notice pursuant to Section 2.18. Such loss shall be the amount as reasonably determined by such Lender as the excess, if any, of (A) the amount of interest which would have accrued to such Lender on the amount so paid or not borrowed at a rate of interest equal to the Adjusted Eurodollar Rate for such Loan, for the period from the date of such payment or failure to borrow to the last day (x) in the case of a payment or refinancing with Prime Rate Loans other than on the last day of the Interest Period for such Loan, of the then current Interest Period for such Loan or (y) in the case of such failure to borrow, of the Interest Period for such Loan which would have commenced on the date of such failure to borrow, over (B) the amount of interest which would have accrued to such Lender on such amount by investing such amount in United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the last day of the applicable Interest Period (collectively, "Breakage Costs"). Any Lender demanding reimbursement for such loss shall deliver to the Borrower from time to time one or more certificates setting forth the amount of such loss as determined by such Lender and setting forth in reasonable detail the manner in which such amount was determined. In the event the Borrower fails to prepay any Loan on the date specified in any prepayment notice delivered pursuant to Section 2.21(a), the Borrower on demand by any Lender shall pay to the Administrative Agent for the account of such Lender any amounts required to compensate such Lender for any loss incurred by such Lender as a result of such failure to prepay, including, without limitation, any loss, cost or expenses incurred by reason of the acquisition of deposits or other funds by such Lender to fulfill deposit obligations incurred in anticipation of such prepayment. Any Lender demanding such payment shall deliver to the Borrower from time to time one or more certificates setting forth the amount of such loss as determined by such Lender and setting forth in reasonable detail the manner in which such amount was determined. Whenever any partial prepayment of Loans are to be applied to Eurodollar Loans, such Eurodollar Loans shall be prepaid in the chronological order of their Interest Payment Dates.

Appears in 1 contract

Samples: Credit Agreement (Stage Stores Inc)

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Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, however, that (i) each such partial prepayment shall be in multiples of $1,000,000500,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Revolving Credit Agreement (Viasystems Group Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower Borrowers shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three (3) Business Days' prior written facsimile or facsimile telephonic (confirmed promptly in writing) notice from the Parent, on behalf of the Borrowers, to the Administrative Agent and (y) with respect to ABR Index Rate Loans on the same Business Day if written facsimile or facsimile telephonic (confirmed promptly in writing) notice is received by the Administrative Agent prior to 11:00 a.m.1:00 p.m., Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, however, that (i) each such partial -------- ------- prepayment of Eurodollar Loans shall be in integral multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable --------------- thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no ---------- --------------- partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and and, in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower Borrowers to prepay such Loan by the amount and on the date stated therein. The Administrative Agent shall, promptly after receiving notice from the Borrower Parent, on behalf of the Borrowers hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Bethlehem Steel Corp /De/)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right may at any time and from time to time to prepay any the Loans, in whole or in part, without premium or penalty (x) except for any breakage costs associated with respect to Eurodollar LoansLoans paid on any date other than the last day of the Interest Period therefor), upon at least three Business Days' prior written or facsimile irrevocable notice to the Agent and (yi) with respect in the case of ABR Loans, one Business Day prior to such prepayment, PROVIDED that ABR Loans may be prepaid on the same Business Day day notice is given if written or facsimile such notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, that (i) each such partial prepayment shall be in multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant three Business Days prior to which madesuch prepayment, PROVIDED that, after giving effect to any prepayment of Eurodollar Loans, any outstanding Eurodollar Loans shall be in an amount in excess of $500,000. Such irrevocable notice shall specify the date and shall commit amount of prepayment and whether the Borrower to prepay such Loan by prepayment is of Eurodollar Loans, ABR Loans or a combination thereof, and, if a combination thereof, the amount and allocable to each. Upon receipt of any such notice of prepayment the Agent shall notify each affected Lender thereof on the date stated of receipt of such notice. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with any amounts payable pursuant to subsection 4.15. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the Partial prepayments shall be in an aggregate principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Notwithstanding the foregoing provisions of this subsection 4.9, except to the extent set forth in subsection 4.8(d) no Tranche B Loans held by such Lender which are may be optionally prepaid prior to be prepaid, the prepayment date and the manner of application of the prepaymentTranche A Repayment Date.

Appears in 1 contract

Samples: Aps Holding Corporation

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice (including without limitation via facsimile) to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice (including without limitation, facsimile) is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice (including without limitation, facsimile) to the Agent; provided, however, that (i) each such partial prepayment shall be in multiples of $1,000,000100,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,000500,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Thermadyne Holdings Corp /De)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three 28 Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; providedPROVIDED, HOWEVER, that (i) each such partial prepayment shall be in multiples of $1,000,000, (ii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iii) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender of the principal amount of the Loans held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Polymer Group Inc)

Optional Prepayment of Loans; Reimbursement of Lenders. (a) The Borrower shall have the right at any time and from time to time to prepay any Loans, in whole or in part, (x) with respect to Eurodollar Loans, upon at least three Business Days' prior written or facsimile notice to the Agent and (y) with respect to ABR Loans on the same Business Day if written or facsimile notice is received by the Agent prior to 11:00 a.m.12:00 noon, Charlotte, North Carolina New York City time, and thereafter upon at least one Business Day's prior written or facsimile notice to the Agent; provided, however, that (i) any prepayment permitted by this Section 2.14(a) shall be applied first to Tranche A Loans (without a reduction of the Tranche A Commitment) and, after the Tranche A Loans have been prepaid in full, to Borrowings under the Tranche B Loans; (ii) each such partial prepayment shall be in multiples of $1,000,000, (iiiii) no prepayment of Eurodollar Loans shall be permitted pursuant to this Section 2.14(a) other than on the last day of an Interest Period applicable thereto unless such prepayment is accompanied by the payment of the amounts described in clause (i) of the first sentence of Section 2.14(b), and (iiiiv) no partial prepayment of a Borrowing of Eurodollar Loans shall result in the aggregate principal amount of the Eurodollar Loans remaining outstanding pursuant to such Borrowing being less than $5,000,0001,000,000. Each notice of prepayment shall specify the prepayment date, the principal amount of the Loans to be prepaid and in the case of Eurodollar Loans, the Borrowing or Borrowings pursuant to which made, shall be irrevocable and shall commit the Borrower to prepay such Loan by the amount and on the date stated therein. The Agent shall, promptly after receiving notice from the Borrower hereunder, notify each Lender Tranche A or Tranche B Lender, as the case may be, of the principal amount of the Tranche A Loans or Tranche B Loans, as the case may be, held by such Lender which are to be prepaid, the prepayment date and the manner of application of the prepayment.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Danielson Holding Corp)

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