Common use of Optional Prepayment of Term Loan Clause in Contracts

Optional Prepayment of Term Loan. The Borrower shall have the right at any time to prepay the Term Note on or before the Term Loan Maturity Date, as a whole, or in part, subject to Section 5.10, upon not less than one (1) Business Days prior written notice to the Agent, without premium or penalty, PROVIDED that (a) each partial prepayment shall be in the principal amount of $500,000 or an integral multiple of $100,000 in excess thereof, and (b) each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective outstanding amount of each Bank's Term Note, with adjustments to the extent practicable to equalize any prior prepayments not exactly in proportion. Any prepayment of principal of the Term Loan shall include all interest accrued to the date of prepayment and shall be applied against the scheduled installments of principal due on the Term Loan on a pro rata basis. No amount repaid with respect to the Term Loan may be reborrowed.

Optional Prepayment of Term Loan. The Borrower shall have the right at any time to prepay the Term Note Notes on or before the Term Loan Maturity Date, as a whole, or in part, subject to Section 5.10, upon not less than one five (15) Business Days prior written notice to the Administrative Agent, without premium or penaltypenalty (but subject to Section 6.9), PROVIDED provided that (a) each partial prepayment shall be in the principal amount of $500,000 100,000 or an integral multiple of $100,000 in excess thereof, and (b) each partial prepayment shall be allocated among the BanksLenders, in proportion, as nearly as practicable, to the respective outstanding principal amount of each BankLender's Term Note, with adjustments to the extent practicable to equalize any prior prepayments not exactly in proportion. Any prepayment of principal of the Term Loan shall include all unpaid interest accrued to the date of prepayment and shall be applied against the scheduled installments of principal due on the Term Loan on a pro rata basisin the order of maturity. No amount repaid with respect to the Term Loan may be reborrowed.

Optional Prepayment of Term Loan. The Borrower shall have the right at any time to prepay the Term Note Notes on or before the Term Loan Maturity Date, as a whole, or in part, subject to Section 5.10, upon not less than one three (13) Business Days prior written notice to the Agent, without premium or penaltypenalty (but subject to Section 3.6), PROVIDED provided that (a) each partial prepayment shall be in the principal amount of $500,000 or an integral multiple of $100,000 in excess thereof, and (b) each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective outstanding amount of each Bank's Term Note, with adjustments to the extent practicable to equalize any prior prepayments not exactly in proportion. Any prepayment of principal of the Term Loan shall include all interest accrued to the date of prepayment and shall be applied against the scheduled installments of principal due on the Term Loan on a pro rata basisin the inverse order of maturity. No amount repaid with respect to the Term Loan may be reborrowed.

Optional Prepayment of Term Loan. The Borrower Borrowers shall have the right at any time to prepay the Term Note Notes on or before the Term Loan Maturity Date, as a whole, or in part, subject to Section 5.10, upon not less than one five (15) Business Days prior written notice to the Agent, without premium or penaltypenalty (but subject to ss.6.11), PROVIDED provided that (ai) each partial prepayment shall be in the principal amount of $500,000 1,000,000 or an integral multiple of $100,000 in excess thereof, thereof and (bii) each partial prepayment shall be allocated among the BanksLenders, in proportion, as nearly as practicable, to the respective outstanding amount of each BankLender's Term Note, with adjustments to the extent practicable to equalize any prior prepayments not exactly in proportion. Any prepayment of principal of the Term Loan shall include all interest accrued to the date of prepayment and shall be applied against the scheduled installments of principal due on the Term Loan on a pro rata basisin the inverse order of maturity. No amount repaid with respect to the Term Loan may be reborrowed.

Optional Prepayment of Term Loan. The Borrower shall have the right at any time to prepay the Term Note Notes on or before the Term Loan Maturity Date, as a whole, or in part, subject to Section 5.10, upon not less than one three (13) Business Days prior written notice to the Administrative Agent, without premium or penalty, PROVIDED provided that (ai) each partial prepayment shall be in the principal amount of $500,000 5,000,000 or an in integral multiple multiples of $100,000 1,000,000 in excess thereof, and (bii) each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective outstanding amount of each Bank's Term Note, with adjustments to the extent practicable to equalize any prior prepayments not exactly in proportion. Any prepayment of principal of the Term Loan shall include all interest accrued to the date of prepayment and shall be applied against the scheduled installments of principal due on the Term Loan on a pro rata basisin the inverse order of maturity. No amount repaid with respect to the Term Loan may be reborrowed.