Optional Prepayments of Loans. The Borrower shall have the right at any time and from time to time to prepay the Loans, in whole or in part, subject to the requirements of this Section 2.10 and Section 2.13; provided that each partial prepayment (i) shall be in a principal amount that is not less than (and in integral amounts consistent with) the Minimum Amount or, if less, the outstanding principal amount of such Borrowing and (ii) shall be accompanied by an amount sufficient to pay any accrued and unpaid interest with respect to the amount prepaid to the extent required by Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m., India Standard Time, three (3) Business Days before the date of prepayment. Each such notice shall be irrevocable; provided that if such notice indicates that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, such notice of prepayment may be revoked if such credit facilities, other financing, sale or other transaction is not consummated. Each such notice shall specify the prepayment date, and the principal amount of Term Loans or portion thereof to be prepaid. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.
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Samples: Short Term Credit Agreement (Novelis Inc.), Short Term Credit Agreement (Novelis Inc.)
Optional Prepayments of Loans. The (a) Subject to the provisions of Section 2.7(g)(iv), the Borrower shall have the right at any time and from time to time to prepay the Loans, any Borrowing in whole or in part, subject to the requirements of this Section 2.10 and Section 2.13without premium or penalty; provided that each any such partial prepayment (i) of the Loans shall be in a principal amount that is not less than (and in integral amounts consistent with) the Minimum Amount or, if less, the outstanding principal amount of such Borrowing and (ii) shall be accompanied by an amount sufficient equal to pay any accrued and unpaid interest with respect $1,000,000 or a higher integral multiple of $500,000; provided, further, that such prepayments shall require written notice to the amount prepaid to the extent required by Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m.noon, India Standard TimeCentral time, three at least two (32) Business Days before prior to the date of prepayment. Each such notice .
(b) Optional prepayments of Loans shall be irrevocableapplied in accordance with this Section 2.5 and Section 8.6.
(c) Each notice of prepayment shall specify the prepayment date and the principal amount of each Loan (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such borrowing by the amount stated therein, together with interest then accrued and unpaid on such principal amount on the date stated therein (and all such amounts shall become due and payable for all purposes hereunder on such date); provided that that, if such a notice indicates that it of prepayment is conditioned upon given in connection with a conditional notice of termination of the effectiveness of other credit facilities or any other financingCommitments pursuant to Section 2.6, sale or other transaction, then such notice of prepayment may be revoked if such credit facilities, other financing, sale or other transaction notice of termination is not consummated. Each such notice shall specify the prepayment date, and the principal amount of Term Loans or portion thereof to be prepaidrevoked in accordance with Section 2.6. Promptly following receipt of any such noticenotice of prepayment, the Administrative Agent shall advise the Lenders of the contents thereof.
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Samples: Restructuring Support Agreement (Warren Resources Inc), Restructuring Support Agreement (Warren Resources Inc)
Optional Prepayments of Loans. The Subject to clause (d) of Section 4.02 and the terms and conditions of Article II of the Common Security Agreement, the Borrower shall have the right to prepay the outstanding principal amount of the Bank Senior Loans at any time and or from time to time to prepay the Loansoutstanding under this Agreement, in whole or in part, subject without premium or penalty (but with any prepayment compensation required by Section 5.04), on any Business Day, provided, however, that: (a) the Borrower shall give the Administrative Agent notice of any such prepayment as provided in Section 4.04, which notice shall become irrevocable five Business Days prior to the requirements date of such optional prepayment, with a copy to the Collateral Trustee (and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and payable hereunder); (b) any prepayments of the Bank Senior Loans pursuant to this Section 2.10 2.07 shall be applied as provided in clause (c) of Section 2.04 of the Common Security Agreement; and Section 2.13; provided that (c) each partial prepayment (i) of principal of Bank Senior Loans shall be in a principal an aggregate amount that is not less than (and in integral amounts consistent with) the Minimum Amount orat least equal to $5,000,000 and, if lessgreater, in an amount which is an integral multiple of $1,000,000. Any prepayment made by the outstanding principal amount of such Borrowing and (ii) Borrower pursuant to this Section 2.07 or Section 2.08 or 2.09 shall be accompanied by an amount sufficient to pay any made together with all accrued and but unpaid interest with respect on amounts prepaid and all other amounts (including any amounts due pursuant to Article V) then due from the Borrower under this Agreement. Any amount prepaid pursuant to the extent required by this Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), 2.07 may not be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m., India Standard Time, three (3) Business Days before the date of prepayment. Each such notice shall be irrevocable; provided that if such notice indicates that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, such notice of prepayment may be revoked if such credit facilities, other financing, sale or other transaction is not consummated. Each such notice shall specify the prepayment date, and the principal amount of Term Loans or portion thereof to be prepaid. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereofreborrowed.
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Samples: Bank Senior Loan Agreement (Neches River Holding Corp)
Optional Prepayments of Loans. The Subject to Section 4.04, the Borrower shall have the right to prepay Loans at any time after the Availability End Date; provided, that the Borrower shall give the Agent notice of each such prepayment as provided in Section 4.05 and, upon the date specified in any such notice of prepayment, the amount to be prepaid shall become due and from time payable. Any prepayment by the Borrower pursuant to time to prepay the Loans, in whole or in part, subject to the requirements of this Section 2.10 and Section 2.13; provided that each partial prepayment (i) 3.03 shall be in a principal amount that made simultaneously with, and is not less than conditioned upon, (and in integral amounts consistent witha) the Minimum Amount or, prepayment under any Permitted Swap Agreement (if less, the outstanding principal amount of such Borrowing and (iithen in effect) shall be accompanied by an amount sufficient to pay any accrued and unpaid interest with respect to the amount prepaid to the extent required by Section 2.06. Each prepayment the aggregate notional amount under all such Permitted Swap Agreements exceeds the aggregate amount of Term Loans shall, subject to Section 8.03 (outstanding after giving effect to the extent applicableprepayment contemplated by this Section 3.03 and (b) the payment by the Borrower of any costs, expenses or other amounts incurred by any Lender in connection with such prepayment (including amounts payable by the Borrower under any such Permitted Swap Agreement with such Lender as a result of such early termination effected pursuant to clause (a) above and any breakage costs due in accordance with Section 5.03 hereof), . Any prepayment by the Borrower in this Section 3.03 shall be applied ratably pro rata to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m., India Standard Time, three (3) Business Days before the date of prepayment. Each such notice shall be irrevocable; provided that if such notice indicates that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, such notice of prepayment may be revoked if such credit facilities, other financing, sale or other transaction is not consummated. Each such notice shall specify the prepayment date, and the remaining scheduled principal amount of Term Loans or portion thereof to be prepaid. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders repayment amounts of the contents thereofLoans.
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Optional Prepayments of Loans. (a) The Borrower shall have ----------------------------- the right at any time and from time to time to prepay the Loans, any Borrowing in whole or in part, without premium or penalty (including with the proceeds released from the Escrow Contingent Account upon the issuance of the Contingency Letter of Credit), subject to prior notice in accordance with paragraph (b) of this ------------- Section and subject to the requirements provisions of this Section 2.10 and Section 2.13; provided that each partial prepayment 2.16. ------------
(ib) shall be in a principal amount that is not less than (and in integral amounts consistent with) the Minimum Amount or, if less, the outstanding principal amount of such Borrowing and (ii) shall be accompanied by an amount sufficient to pay any accrued and unpaid interest with respect to the amount prepaid to the extent required by Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company Borrower shall notify the Administrative Agent in writing or by written notice telephone (confirmed by telecopy) of any optional prepayment hereunder hereunder, not later than 11:00 a.m., India Standard TimeNew York City time, three (3) five Business Days before the date of prepayment. Each such notice shall be irrevocable; provided that if such notice indicates that it is conditioned upon irrevocable and shall specify, in the effectiveness case of other credit facilities or any other financingprepayment of Loans, sale or other transaction, such notice the date and amount of prepayment may be revoked if such credit facilities, other financing, sale or other transaction is not consummated. Each such notice shall specify and whether the prepayment dateis (i) of Term Loans, Working Capital 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 shall specify how such prepayment shall be applied to the remaining installments of Term Loans or portion thereof to be prepaidthe Loans. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Partial optional prepayments shall be in a minimum aggregate principal amount of $5,000,000 and integral multiples of $250,000 in excess thereof. Optional prepayments shall be accompanied by accrued interest to the extent required by Section 2.
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Optional Prepayments of Loans. The (a) Subject to the provisions of Section 2.7(e)(iv), the Borrower shall have the right at any time and from time to time to prepay the Loans, any Borrowing in whole or in part, subject to the requirements of this Section 2.10 and Section 2.13; provided that each any such partial prepayment (i) of the Loans shall be in a principal amount that is not less than (and in integral amounts consistent with) the Minimum Amount or, if less, the outstanding principal amount of such Borrowing and (ii) shall be accompanied by an amount sufficient equal to pay any accrued and unpaid interest with respect $1,000,000 or a higher integral multiple of $500,000; provided, further, that such prepayments shall require written notice to the amount prepaid to the extent required by Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m.12:00 p.m. (noon), India Standard TimeCentral time, three at least two (32) Business Days before prior to the date of prepayment. Each such notice .
(b) Optional prepayments of Loans shall be irrevocable; provided that if such notice indicates that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, such applied in accordance with this Section 2.5 and Section 8.6.
(c) Each notice of prepayment may be revoked if such credit facilities, other financing, sale or other transaction is not consummated. Each such notice with respect to an optional prepayment under this Section 2.5 shall specify the prepayment date, date and the principal amount of Term Loans each Borrowing (or portion thereof thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such borrowing by the amount stated therein, together with interest then accrued and unpaid on such principal amount and any applicable Make-Whole Amount and Repayment Premium with respect thereto, on the date stated therein (and all such amounts shall become due and payable for all purposes hereunder on such date). Promptly following receipt All prepayments under this Section 2.5 shall be subject to the Make-Whole Amount and the Repayment Premium in accordance with Section 2.3(g) and Section 2.3(h), respectively. All prepayments under this Section 2.5 shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment together with any such notice, the Administrative Agent shall advise the Lenders of the contents thereofMake-Whole Amount and Repayment Premium with respect thereto.
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Optional Prepayments of Loans. The Borrower shall have may, upon notice to the right at any time Administrative Agent stating the proposed date and from time to time to prepay aggregate principal amount of the prepayment, given not later than 10:00 a.m. (New York City time) (a) three Business Days before such proposed prepayment in the case of Term Benchmark Loans and (b) on the day of such proposed prepayment in the case of Base Rate Loans, in whole or in part, subject to the requirements of this Section 2.10 and Section 2.13; provided that each partial prepayment (i) shall be in a principal amount that is not less than (and in integral amounts consistent with) the Minimum Amount orand, if lesssuch notice is given, the Borrower shall, prepay without penalty the outstanding principal amount of such the Loans comprising part of the same Borrowing and (ii) shall be accompanied by an amount sufficient in whole or ratably in part, together with accrued interest to pay any accrued and unpaid interest with respect to the amount prepaid to the extent required by Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m., India Standard Time, three (3) Business Days before the date of prepayment. Each such notice prepayment on the principal amount prepaid, provided that in the event of any such prepayment of a Term Benchmark Loan other than #96301122v26 on the last day of the Interest Period therefor, such Borrower shall be irrevocableobligated to reimburse the Lenders in respect thereof pursuant to Section 2.23; provided further that if such a notice indicates that it of optional prepayment is conditioned upon given in connection with a conditional termination of the effectiveness of other credit facilities or any other financingCommitments as contemplated by Section 2.07(b), sale or other transaction, then such notice of prepayment may be revoked if such credit facilitiesin accordance with Section 2.07(b) (subject to, other financingfor the avoidance of doubt, sale or other transaction is not consummatedcompliance with the immediately preceding sentence). Each such notice prepayment of Revolving Loans hereunder shall specify the prepayment date, and the principal be in a minimum amount of Term Loans $10,000,000 or portion thereof to be prepaid. Promptly following receipt any whole multiple of any such notice, the Administrative Agent shall advise the Lenders of the contents $1,000,000 in excess thereof.
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Optional Prepayments of Loans. The Borrower shall have may optionally prepay any Loans (a) in the right case of any Term SOFR Loan, upon notice given to the Administrative Agent not later than 11:00 a.m. (New York City time) at any time and from time least three Business Days prior to time the date of the proposed prepayment, (b) if applicable pursuant to prepay the LoansSection 2.08, in whole or in partthe case of any Daily Simple SOFR Loan, subject upon notice given to the requirements Administrative Agent not later than 11:00 a.m. (New York City time) five U.S. Government Securities Business Days prior to the date of this Section 2.10 the proposed prepayment or (c) in the case of any Base Rate Loan, upon notice given to the Administrative Agent not later than 9:00 a.m. (New York City time) on the date of the proposed prepayment, in each case stating the Borrowing to be prepaid and Section 2.13; provided that each partial prepayment (i) shall be in a the proposed date and aggregate principal amount that of the prepayment, and if such notice is not less than (and in integral amounts consistent with) given the Minimum Amount or, if less, Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing, in whole or ratably in part, together with accrued interest to the date of such Borrowing prepayment on the principal amount prepaid; provided, however, that (i) each partial prepayment shall be in an aggregate principal amount of no less than $50,000,000 or the remaining balance if less than $50,000,000 and (ii) shall be accompanied by an amount sufficient to pay any accrued and unpaid interest with respect to in the amount prepaid to the extent required by Section 2.06. Each prepayment of Term Loans shall, subject to Section 8.03 (to the extent applicable), be applied ratably to the Term Loans of all Lenders then outstanding. The Designated Company shall notify the Administrative Agent by written notice of any prepayment hereunder not later than 11:00 a.m., India Standard Time, three (3) Business Days before the date of prepayment. Each such notice shall be irrevocable; provided that if such notice indicates that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, such notice of prepayment may be revoked if such credit facilities, other financing, sale or other transaction is not consummated. Each such notice shall specify the prepayment date, and the principal amount of Term Loans or portion thereof to be prepaid. Promptly following receipt event of any such noticeprepayment of a Term SOFR Loan, the Administrative Agent Borrower shall advise be obligated to reimburse the Lenders of the contents thereofin respect thereof pursuant to Section 9.04(b).
Appears in 1 contract
Samples: Term Credit Agreement (Mondelez International, Inc.)