Common use of Optional Prepayments Generally Clause in Contracts

Optional Prepayments Generally. The Borrower may at any time upon prior written notice by the Borrower to Agent prepay the Loans in whole or in part without penalty or premium except as provided in Section 10.4; provided that (i) such notice shall be in a form reasonably acceptable to Agent and received by Agent by 11:00 a.m. (A) three (3) Business Day prior to any date of prepayment of LIBOR Rate Loans and (B) on the date of prepayment of Base Rate Loans and (ii) any partial prepayment shall in an amount greater than or equal to $1,000,000 or any multiple of $250,000 in excess thereof. Optional partial prepayments of Term Loans shall be applied to scheduled installments thereof, if any, as specified by the Borrower in such Notice of Prepayment and, in the absence of such direction, in the manner set forth in Section 1.8(f). The foregoing provisions shall not apply with respect to any Discounted Buyback or open market purchase, in each case, governed by Section 1.7(d).

Optional Prepayments Generally. The Borrower may at any time upon prior written notice by the Borrower to Agent prepay the Loans in whole or in part without penalty or premium except as provided in Section 1.7(e) and Section 10.4; provided that (i) such notice shall be in a form reasonably acceptable to Agent and received by Agent by 11:00 a.m. (A) three (3) Business Day prior to any date of prepayment of LIBOR Rate Loans and (B) on the date of prepayment of Base Rate Loans and (ii) any partial prepayment shall in an amount greater than or equal to $1,000,000 or any multiple of $250,000 in excess thereof. Optional partial prepayments of Term Loans shall be applied to scheduled installments thereof, if any, as specified by the Borrower in such Notice of Prepayment and, in the absence of such direction, in the manner set forth in Section 1.8(f). The foregoing provisions shall not apply with respect to any Discounted Buyback or open market purchase, in each case, governed by Section 1.7(d).