Optional Prepayment of the Term Loans. The Borrowers may at any time and from time to time prepay the Term Loans made to them in whole or in part, subject to Section 4.12, without premium or penalty, upon notice by the Parent Borrower to the Administrative Agent prior to 1:00 P.M., New York City time at least three Business Days (or such shorter period as may be agreed by the Administrative Agent in its reasonable discretion) prior to the date of prepayment (in the case of Eurocurrency Loans and Term SOFR Loans), or prior to 1:00 P.M., New York City time (or such later time as may be agreed by the Administrative Agent in its reasonable discretion) on the date of prepayment (in the case of ABR Loans). Such notice shall specify the date and amount of prepayment, whether the prepayment is of Eurocurrency Loans, Term SOFR Loans, ABR Loans or a combination thereof, and, if a combination thereof, the principal amount allocable to each, the applicable Tranche being repaid and if a combination thereof the principal amount allocable to each. Upon the receipt of any such notice the Administrative Agent shall promptly notify each affected Lender thereof. 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 Parent Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. If any such notice is given and is not revoked, the amount specified in such notice shall be due and payable on the date specified therein, together with (if a Eurocurrency Loan or Term SOFR Loan is prepaid other than at the end of the Interest Period applicable thereto) any amounts payable pursuant to Section 4.12 and accrued interest to such date on the amount prepaid. Partial prepayments of Term Loans pursuant to this Section 4.4(a)(i) shall be applied to the respective installments of principal of such Term Loans in such order as the Parent Borrower may direct. Partial prepayments pursuant to this Section 4.4(a)(i) shall be in multiples of $1,000,000; provided that, notwithstanding the foregoing, any Tranche of Term Loans may be prepaid in its entirety.
Optional Prepayment of the Term Loans. (i) In addition to the required payments of principal of the Term Loans set forth in Sections 2.08 (d)-(e) (Repayment of Loans) and any mandatory prepayments of principal of the Term Loans effected under clause (e) below, the US Borrower may, upon irrevocable written notice to the Administrative Agent pursuant to a Prepayment Notice, voluntarily prepay the Term Loans in whole or in part from time to time on any Business Day, without penalty or premium, except as provided in clauses (b)(iv) and (b)(v) below; provided that (i) such Prepayment Notice must be received by the Administrative Agent not later than 12:00 noon, New York time, three (3) Business Days prior to any date of prepayment of such Loans, (ii) any prepayment of Eurodollar Rate Loans shall be in a principal amount of not less than $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or in the entire remaining principal balance of the Term Loan), (iii) any prepayment of Base Rate Loans shall be in a principal amount of not less than $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or in the entire remaining principal balance of the Term Loan), and (iv) any partial prepayment will be applied to reduce the remaining installments of the outstanding principal amount of the Term Loans in the manner described below. Each such Prepayment Notice shall be from a Responsible Officer of the US Borrower and shall specify the date and amount of such prepayment, and the amount of such prepayment shall be applied, at the US Borrower’s option, (i) to reduce in direct order of maturity the next four (4) scheduled amortization payments of the Tranche A Term Loans, Tranche B Term Loans (except for Tranche B1 Term Loans) and/or Tranche B1 Term Loans (as the US Borrower may elect) due pursuant to Sections 2.08(d) and (e) and thereafter on a pro rata basis to reduce the scheduled remaining amortization payments of the Tranche A Term Loans, Tranche B Term Loans (except for Tranche B1 Term Loans) and/or Tranche B1 Term Loans (as the US Borrower shall elect), as applicable, based on the amount of each such remaining scheduled amortization payment, pursuant to Sections 2.08(d) and (e), or (ii) to scheduled amortization payments pursuant to Sections 2.08(d) and (e) and the payment at final maturity on a pro rata basis of the Tranche A Term Loans, Tranche B Term Loans (except for Tranche B1 Term Loans) and/or Tranche B1 Term Loans (as the US Borrower shall elect). The Administrative Agent will pr...
Optional Prepayment of the Term Loans of the Credit Agreement is hereby amended by (i) deleting each use of the phrase “, Tranche B Term Loans (except for Tranche B1 Term Loans) and/or Tranche B1 Term Loans” found in clause (i) thereof and replacing it with the phrase “, Tranche B Term Loans (except for Tranche B1 Term Loans and Tranche B2 Term Loans), Tranche B1 Term Loans and/or Tranche B2 Term Loans”, (ii) deleting each use of the phrase “, Tranche B Term Loans (except for Tranche B1 Term Loans) and Tranche B1 Term Loans” found in clause (iii)(u) and thereof and replacing it with the phrase “, Tranche B Term Loans (except for Tranche B1 Term Loans and Tranche B2 Term Loans), Tranche B1 Term Loans and/or Tranche B2 Term Loans” (iii) deleting the phrase “, Pro Rata Tranche B Term Share and/or Pro Rata Tranche B1 Term Share” in clause (i) thereof and replacing it with the phrase “, Pro Rata Tranche B Term Share, Pro Rata Tranche B1 Term Share and/or Pro Rata Tranche B2 Term Share”, (iv) by deleting the phrase “, Tranche B Term Loans (except for Tranche B1 Term Loans) and Tranche B1 Term Loans” in clause (iii)(z) thereof and replacing it with the phrase “, Tranche B Term Loans (except for Tranche B1 Term Loans and Tranche B2 Term Loans), Tranche B1 Term Loans and Tranche B2 Term Loans” and (v) adding the following new clauses (vii) and (viii) immediately after clause (vi) thereof:
Optional Prepayment of the Term Loans. (a) Borrower shall have the right to prepay the Term Loans in whole at any time or in part from time to time, without premium or penalty, but with accrued and unpaid interest on the principal amount prepaid to the date of such prepayment. All such prepayments shall first be credited to accrued and unpaid interest and the balance shall be credited to principal.
(b) Borrower shall notify Lender at least two days in advance of any such voluntary prepayment. Any partial prepayments shall be in the minimum principal amount of $10,000 and in increments of $1,000 thereafter (or the entire outstanding principal amount of either of the Term Loans), and each such partial prepayment shall be applied in the inverse order of maturity to principal installments due under the Term Loans as specified by the Borrower.
Optional Prepayment of the Term Loans. Any Borrower may, on the same Business Day's telephone notice no later than 11:00 A.M. (New York City time) (promptly confirmed in writing) prepay the outstanding amount of the Term Loans in whole, but not in part, by payment of the sum of (i) an amount equal to the product of (a) the Prepayment Factor and (b) the outstanding principal amount of the Term Loans (excluding the Cheyenne Construction Loans, the Cheyenne Term Loan and the Reno Term Loan), plus (ii) accrued interest to the date of such prepayment, plus (iii) the balance of the Loan Fees not previously paid to the Lender, plus (iv) all other Term Obligations; PROVIDED, HOWEVER, that the Borrowers may not prepay the Term Loans unless, simultaneously therewith, the Borrowers also prepay the Line Loan as set forth in Section 3.05 hereof and the Cheyenne Construction Loans as set forth in Section 4.05 hereof. Upon such payment in accordance with Section 2.05, at the sole cost and expense of the Borrowers, the Lender will return to the Borrowers appropriate and proper releases of the Cheyenne Deed of Trust, the Reno Deed of Trust, the West Virginia Deed of Trust, the West Virginia First Priority Deed of Trust, and such other documents as the Loan Parties may reasonably request to effect a release of the Lender's security interest in the Collateral.
Optional Prepayment of the Term Loans. The Borrower shall have the right ------------------------------------- at any time to prepay the Term Notes on or before the Term Loan A Maturity Date or the Term Loan B Maturity Date, as a whole, or in part, upon not less than three (3) Business Days' prior written notice to the Agent, without premium or penalty (but subject to (S)8.10), provided that (a) each partial prepayment shall be in the principal amount of $1,000,000 or an integral multiple 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 Loans shall include all interest accrued to the date of prepayment and shall be applied pro rata against the remaining scheduled installments of principal due on the Term Loans. No amount repaid with respect to the Term Loans may be reborrowed.
Optional Prepayment of the Term Loans
