Common use of Optional Prepayment of Revolving Loans Clause in Contracts

Optional Prepayment of Revolving Loans. The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay the Revolving Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 1:00 p.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Revolving Loans and (B) on the date of prepayment of Base Rate Revolving Loans; (ii) any prepayment of Eurodollar Rate Revolving Loans shall be in a principal amount of $500,000 or a whole multiple of $250,000 in excess thereof; and (iii) any prepayment of Base Rate Revolving Loans shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Revolving Loans to be prepaid. The Administrative Agent will promptly notify each Revolving Lender of its receipt of each such notice, and of the amount of such Revolving Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Revolving Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Revolving Loans of the Lenders in accordance with their respective Applicable Percentages.

Optional Prepayment of Revolving Loans. The Borrower may, upon notice to the Administrative Agent, may at any time or and from time to time voluntarily prepay the Revolving Loans made to it and the Reimbursement Obligations in respect of Letters of Credit issued for its account in whole or in part part, subject to Subsection 4.12, without premium or penalty; provided that , upon notice by the Borrower to the Administrative Agent prior to 1:00 P.M., New York City time at least three Business Days (i) or such notice must shorter period as may be received agreed by the Administrative Agent not later than 1:00 p.m. (Ain its reasonable discretion) three Business Days prior to any date of prepayment of Eurodollar Rate Revolving Loans and (B) on the date of prepayment of Base Rate Revolving Loans; (ii) any prepayment in the case of Eurodollar Rate Revolving Loans shall Loans), or prior to 12:00 P.M., New York City time at least one Business Day (or such shorter period as may be agreed by the Administrative Agent in a principal amount its reasonable discretion) prior to the date of $500,000 or a whole multiple prepayment (in the case of $250,000 in excess thereof; and (iii) any prepayment of Base Rate Revolving Loans shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstandingABR Loans). Each such Such notice shall specify the date and amount of such prepayment and whether the Type(sprepayment is (i) of Initial Revolving Loans, Incremental Revolving Loans, Extended Revolving Loans, Specified Refinancing Revolving Loans or Swing Line Loans, or a combination thereof, and (ii) of Eurodollar Loans, ABR Loans or a combination thereof and, in each case if a combination thereof, the principal amount allocable to each and, in the case of any prepayment of Reimbursement Obligations, the date and amount of prepayment, the identity of the applicable Letter of Credit or Letters of Credit and the amount allocable to each of such Reimbursement Obligations. Any such notice may state that such notice is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities), in which case such notice may be prepaid. The revoked by the Borrower (by written notice to the Administrative Agent will on or prior to the specified effective date) if such condition is not satisfied. Upon the receipt of any such notice the Administrative Agent shall promptly notify each Revolving affected Lender of its receipt of each such notice, and of the amount of such Revolving Lender’s Applicable Percentage of such prepaymentthereof. If any such notice is given by the Borrowerand not revoked, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Revolving Loan shall be accompanied by all accrued interest on the amount prepaid, together with (if a Eurodollar Loan is prepaid other than at the end of the Interest Period applicable thereto) any additional amounts required payable pursuant to Section 3.05Subsection 4.12. Each such prepayment shall be applied to Partial prepayments of the Revolving Loans and the Reimbursement Obligations pursuant to this Subsection 4.4(b) shall (unless the Borrower otherwise directs) be applied, first, to payment of the Lenders Swing Line Loans then outstanding, second, to payment of the Revolving Loans then outstanding, third, to payment of any Reimbursement Obligations then outstanding and, last, to cash collateralize any outstanding L/C Obligation on terms reasonably satisfactory to the Issuing Bank. Partial prepayments pursuant to this Subsection 4.4(b) shall be in accordance with their respective Applicable Percentageswhole multiples of $1,000,000; provided that, notwithstanding the foregoing, any Loan may be prepaid in its entirety.

Optional Prepayment of Revolving Loans. The Borrower may, upon notice to the Administrative Agent, may at any time or and from time to time voluntarily prepay the Revolving Loans and the Reimbursement Obligations in respect of Letters of Credit in whole or in part part, subject to Subsection 4.12, without premium or penalty; provided that , upon notice by the Borrower to the Administrative Agent prior to 1:00 P.M., New York City time, at least three Business Days (i) or such notice must shorter period as may be received agreed by the Administrative Agent not later than 1:00 p.m. (Ain its reasonable discretion) three Business Days prior to any the date of prepayment (in the case of Daily Simple SOFR Rate Loans, Term SOFR Rate Loans, Eurodollar Rate Revolving Loans and (B) or BA Equivalent Loans), or prior to 12:00 P.M., New York City time, on the date of prepayment (or such later time as may be agreed by the Administrative Agent in its reasonable discretion) (in the case of Base ABR Loans, Canadian Prime Rate Revolving Loans; (ii) any prepayment of Eurodollar Rate Revolving Loans shall be in a principal amount of $500,000 or a whole multiple of $250,000 in excess thereof; and (iii) any prepayment of Base Rate Revolving Loans shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstandingReimbursement Obligations). Each such Such notice shall specify the date and amount of such prepayment and prepayment, the Type(s) currency of the Revolving Loans to be prepaidprepaid and whether the prepayment is (i) of Initial Revolving Loans, Incremental Revolving Loans, Extended Revolving Loans, Specified Refinancing Revolving Loans or Swing Line Loans, or a combination thereof, and (ii) of Daily Simple SOFR Rate Loans, Term SOFR Rate Loans, Eurodollar Loans, ABR Loans, BA Equivalent Loans, Canadian Prime Rate Loans or a combination thereof and, in each case if a combination thereof, the principal amount allocable to each and, in the case of any prepayment of Reimbursement Obligations, the date and amount of prepayment, the identity of the applicable Letter of Credit or Letters of Credit and the amount allocable to each of such Reimbursement Obligations. The Any such notice may state that such notice is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities), in which case such notice may be revoked by the Borrower (by written notice to the Administrative Agent will on or prior to the specified effective date) if such condition is not satisfied. Upon the receipt of any such notice the Administrative Agent shall promptly notify each Revolving affected Lender of its receipt of each such notice, and of the amount of such Revolving Lender’s Applicable Percentage of such prepaymentthereof. If any such notice is given by the Borrowerand not revoked, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Revolving Loan shall be accompanied by all accrued interest on the amount prepaid, together with (if a Term SOFR Rate Loan, Eurodollar Loan or BA Equivalent Loan is prepaid other than at the end of the Interest Period applicable thereto) any additional amounts required payable pursuant to Section 3.05Subsection 4.12. Each such prepayment shall be applied to Partial prepayments of the Revolving Loans and the Reimbursement Obligations pursuant to this Subsection 4.4(b) shall (unless the Borrower otherwise directs) be applied, first, to payment of the Lenders Swing Line Loans then outstanding, second, to payment of the Revolving Loans then outstanding, third, to payment of any Reimbursement Obligations then outstanding and, last, to cash collateralize any outstanding L/C Obligation on terms reasonably satisfactory to the applicable Issuing Bank. Partial prepayments of Revolving Loans pursuant to this Subsection 4.4(b) shall be in accordance with their respective Applicable Percentageswhole multiples of $1,000,000 (or, in the case of Revolving Loans outstanding in any Designated Foreign Currency, an aggregate principal amount the Dollar Equivalent of which is at least approximately $1,000,000); provided that, notwithstanding the foregoing, any Loan may be prepaid in its entirety.

Optional Prepayment of Revolving Loans. The Borrower may, upon notice to the Administrative Agent, Borrowers may at any time or and from time to time voluntarily prepay the Revolving Loans made to them and the Reimbursement Obligations in respect of Letters of Credit issued for its account in whole or in part part, subject to Subsection 4.12, without premium or penalty; provided that , upon notice by the Borrower Representative to the Administrative Agent prior to 1:00 P.M., New York City time at least three Business Days (i) or such notice must shorter period as may be received agreed by the Administrative Agent not later than 1:00 p.m. (Ain its reasonable discretion) three Business Days prior to any date of prepayment of Eurodollar Rate Revolving Loans and (B) on the date of prepayment of Base Rate Revolving Loans; (ii) any prepayment in the case of Eurodollar Rate Revolving Loans shall Loans), or prior to 12:00 P.M., New York City time at least one Business Day (or such shorter period as may be agreed by the Administrative Agent in a principal amount its reasonable discretion) prior to the date of $500,000 or a whole multiple prepayment (in the case of $250,000 in excess thereof; and (iii) any prepayment of Base Rate Revolving Loans shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstandingABR Loans). Each such Such notice shall specify the date and amount of such prepayment and prepayment, the Type(s) currency of the Revolving Loans to be prepaidprepaid and whether the prepayment is (i) of Initial Revolving Loans, Incremental Revolving Loans, Extended Revolving Loans or Specified Refinancing Revolving Loans or a combination thereof and (ii) of Eurodollar Loans, ABR Loans or a combination thereof and, in each case if a combination thereof, the principal amount allocable to each and, in the case of any prepayment of Reimbursement Obligations, the date and amount of prepayment, the identity of the applicable Letter of Credit or Letters of Credit and the amount allocable to each of such Reimbursement Obligations. The Any such notice may state that such notice is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities), in which case such notice may be revoked by the Borrower Representative (by written notice to the Administrative Agent will on or prior to the specified effective date) if such condition is not satisfied. Upon the receipt of any such notice the Administrative Agent shall promptly notify each Revolving affected Lender of its receipt of each such notice, and of the amount of such Revolving Lender’s Applicable Percentage of such prepaymentthereof. If any such notice is given by the Borrowerand not revoked, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Revolving Loan shall be accompanied by all accrued interest on the amount prepaid, together with (if a Eurodollar Loan is prepaid other than at the end of the Interest Period applicable thereto) any additional amounts required payable pursuant to Section 3.05Subsection 4.12. Each such prepayment shall be applied to Partial prepayments of the Revolving Loans and the Reimbursement Obligations pursuant to this Subsection 4.4(b) shall (unless the Borrower Representative otherwise directs) be applied, first, to payment of the Lenders Revolving Loans then outstanding, second, to payment of any Reimbursement Obligations then outstanding, and, last, to cash collateralize any outstanding L/C Obligation on terms reasonably satisfactory to the Issuing Bank. Partial prepayments of Revolving Loans pursuant to this Subsection 4.4(b) shall be in accordance with their respective Applicable Percentageswhole multiples of €1,000,000 (or, in the case of Revolving Loans denominated in Dollars, $1,000,000 and in the case of Revolving Loans outstanding in any other Designated Currency, an aggregate principal amount the Euro Equivalent of which is at least approximately €1,000,000); provided that, notwithstanding the foregoing, any Loan may be prepaid in its entirety.