Optional Prepayments of Principal Sample Clauses

Optional Prepayments of Principal. Issuer may, at any time after the third anniversary of the Closing Date, prepay amounts due under the Note, in whole or in part in an amount of at least $5,000,000 (or, if such prepayment would result in less than $5,000,000 outstanding under the Note(s), the full amount of principal outstanding); provided, however, that (a) Issuer shall give Note Holders not less than ten (10) Business Days’ prior notice, specifying the principal amount to be prepaid and the date of prepayment, and (b) any such prepayment shall include all accrued and unpaid interest on the principal amount to be prepaid together with the applicable Prepayment Premium in an amount determined as set forth in Section 3.3(d).
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Optional Prepayments of Principal. 12 3.3. Notice of optional Principal Prepayments...................... 13 3.4.
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Optional Prepayments of Principal. The Company shall have the right, at any time and from time to time, to prepay the principal indebtedness evidenced by the Note, in whole or in part (but if in part then in a minimum principal amount of $100,000) by making such prepayment, together with (a) accrued interest thereon to the date of prepayment and (b) a premium determined as follows: If Prepayment Date Is During the Required Premium Calendar Year Commencing (% of Prepayment January 1 Amount) ------------------------ ---------------- 1995 3% 1996 2% 1997 1% 1998 -0- 1999 -0- All prepayments under this (S) 3.2 shall be applied ratably to future principal payments required under (S) 3.1.
Sample 1
Optional Prepayments of Principal. The Borrower may prepay all, but not less than all, of the aggregate outstanding principal at any time prior to maturity in cash at the following premium (expressed in percentages of principal amount), plus accrued and unpaid interest thereon through the applicable prepayment date, plus any unpaid expenses payable by the Borrower pursuant to the terms hereof if such optional prepayment is made during the twelve-month-period beginning on June 13 of the years indicated below: Year Percentage ---- ---------- 1996 103.5% 1997 102.5% 1998 101.5% The Borrower agrees that such prepayment premium shall be presumed to be for the amount of damages sustained by Lender as a result of such early payment and the Borrower agrees that it is reasonable under the circumstances currently existing. The prepayment premium provided for in this Section 2.3 shall be deemed included in the Obligations."
Sample 1
Optional Prepayments of Principal. Issuer may, at any time, prepay in full the total outstanding principal amount of the Notes, in whole but not in part; provided, however, that (a) Issuer shall give Note Holder not less than thirty (30) Business Days’ irrevocable prior written notice, specifying the date of prepayment, and (b) any such prepayment shall include all accrued and unpaid interest on the principal amount, if any, together with the Prepayment Fee determined as set forth in Section 3.3D, and the payment in full of all other Obligations owing under the Financing Documents.
Sample 1
Optional Prepayments of Principal. Section 2.2.5.1. The Borrower may, on any Business Day, make full or partial prepayments of principal amounts due on the Loan, and such prepayments may be made without premium or penalty, provided that: (i) the Borrower gives CII at least ten (10) Business Days’ prior written notice; and (ii) each prepayment is accompanied by payment of accrued interest to the date of prepayment on the principal amount prepaid. Section 2.2.5.2. All prepayments shall be applied first to all fees, costs, expenses incurred by CII pursuant to this Agreement, the Notes and the Other Documents, then to any late charges, then accrued and unpaid interest as of the date of such prepayment and the remainder to installments of principal due hereunder in inverse order of maturity. No amount prepaid by the Borrower may be reborrowed.
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Optional Prepayments of Principal. Borrowing Base Determination and Mandatory Borrowing Base Prepayments...................................12 3.3
Sample 1
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Optional Prepayments of Principal. Borrower may, at any time or from time to time, without premium or penalty, prepay all or a portion of the principal balance then outstanding of the Revolving Loan together with all accrued but unpaid interest on the Revolving Loan then outstanding at any time or from time to time.
Sample 1
Optional Prepayments of Principal. The Borrower may, at any time, upon notice to the Bank, pay all or part of the Loan outstanding bearing interest at the Prime Rate without penalty, premium or other charge. The Borrower may not prepay any portion of the Loan as to which an election for, a continuation of or a conversion to a Eurodollar Rate is pending, and any Eurodollar Rate Loan may only be paid on the last day of the Applicable Interest Period with respect thereto, unless, in addition to any other amounts required to be paid, the Borrower also pays the Bank the Prepayment Amount. All notices of prepayment that are delivered to the Bank by the Borrower pursuant to this section shall be delivered by 1:00 p.
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Related to Optional Prepayments of Principal

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38

  • Optional Prepayment (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’ prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in the case of Eurodollar Loans, or written or fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative Agent before 12:00 (noon), New York City time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $100,000 and not less than $1,000,000. (b) Optional prepayments of Term Loans shall be allocated among the Term Loans and the Other Term Loans, if any, as determined by the Borrower and shall be applied against the remaining scheduled installments of principal due in respect of the Term Loans under Section 2.11 as instructed by the Borrower in the notice set forth in Section 2.12(c), provided that if such notice omits such instructions, optional prepayments of Term Loans shall be applied pro rata against such remaining scheduled installments of principal due in respect of the Term Loans under Section 2.11. (c) Each notice of prepayment shall specify the prepayment date, the principal amount of each Borrowing (or portion thereof) to be prepaid and instructions with respect to the application under Section 2.12(b) of any prepayments of Term Loans, shall be irrevocable (unless such notice is expressly conditioned upon a refinancing of the Credit Facilities, in which case such notice may be rescinded if such refinancing shall not be consummated or shall otherwise be delayed) and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein. All prepayments under this Section 2.12 shall be subject to Section 2.16 but otherwise without premium or penalty. All prepayments under this Section 2.12 (other than prepayments of ABR Revolving Loans that are not made in connection with the termination or permanent reduction of the Revolving Credit Commitments) shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment.

  • Optional Prepayment of Loans (a) The Borrower shall have the right to prepay the Loans on not less than three (3) Business Days’ prior written notice to the Senior Facility Agent. (b) Any partial prepayment of the Loans under this Section 4.04 shall be in an amount that is not less than twenty million Dollars ($20,000,000). (c) All prepayments under this Section 4.04 shall be made by the Borrower to the Senior Facility Agent for the account of the Senior Lenders and shall be applied by the Senior Facility Agent in accordance with Section 4.04(d). Each notice of optional prepayment shall indicate whether the Loan being prepaid (i) was used for Gas Working Capital Purposes, General Working Capital Purposes or DSR Purposes and (ii) was a Working Capital Loan, Swing Line Loan or an LC Loan. Each notice of optional prepayment will be irrevocable, except that such notice given by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities and/or the issuance of other debt, in which case such notice may be revoked by the Borrower (by notice to the Senior Facility Agent on or prior to the specified effective date) if such condition is not satisfied. The Borrower shall pay any Break Costs incurred by any Senior Secured Party as a result of such notice and revocation. (d) With respect to each prepayment to be made pursuant to this Section 4.04, on the date specified in the notice of prepayment delivered pursuant to Section 4.04(a), the Borrower shall pay to the Senior Facility Agent the sum of the following amounts: (i) the principal of, and accrued but unpaid interest on, the Loans to be prepaid; (ii) any additional amounts required to be paid under Section 5.05 (Funding Losses); and (iii) any other Obligations due to the respective Senior Lenders in connection with any prepayment under the Financing Documents.

  • Optional Prepayments of Advances The Borrower may, upon at least two Business Days’ notice, in the case of Eurodollar Rate Advances, and upon notice not later than 11:00 A.M. (New York City time) on the date of prepayment, in the case of Base Rate Advances, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • All Prepayments Except as this Agreement may specifically provide otherwise, all prepayments of the Term Loan shall be applied by Agent to the Obligations in inverse order of maturity. The monthly payments required under Schedule 2.1 shall continue in the same amount (for so long as the Term Loan and/or (if applicable) any advance thereunder shall remain outstanding) notwithstanding any partial prepayment, whether mandatory or optional, of the Term Loan. Notwithstanding anything to the contrary contained in the foregoing, in the event that there have been multiple advances under the Term Loan each of which such advances has a separate amortization schedule of principal payments under Schedule 2.1 attached hereto, each prepayment of the Term Loan shall be applied by Agent to reduce and prepay the principal balance of the earliest-made advance then outstanding in the inverse order of maturity of the scheduled payments with respect to such advance until such earliest-made advance is paid in full (and to the extent the total amount of any such partial prepayment shall exceed the outstanding principal balance of such earliest-made advance, the remainder of such prepayment shall be applied successively to the remaining advances under the Term Loan in the direct order of the respective advance dates in the manner provided for in this sentence).

  • Repayment of Principal and Interest (a) The entire outstanding principal balance of the Loans shall be due and payable by no later than 5:00 p.m. (Eastern time) on the Business Day on which the Loan is due, together with all remaining accrued and unpaid interest thereon, unless an extension of no more than three additional days is authorized by the Lending Company. (b) Any of the Loans may be prepaid in whole or in part at any time without premium or penalty. Any such prepayment made on any Loan shall be applied, first, to interest accrued thereon through the date thereof and then to the principal balance thereof. (c) Each payment and prepayment of principal of any Loan and each payment of interest on any Loan shall be made to the Lending Company and applied to outstanding Loan balances in the following order; first, toward any Loan or Loans then due and payable; and, second, towards the Loan or Loans which are next due and payable at the time of such prepayment.

  • Partial Prepayments Each partial prepayment of the Loan or portion thereof under § 3.3 shall be in a minimum principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under § 3.2 and § 3.3 shall be applied first to the principal of Base Rate Advances, and then to the principal of LIBOR Rate Advances.

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