Common use of Optional Prepayments of Term Loan Advances Clause in Contracts

Optional Prepayments of Term Loan Advances. Borrower may, at its option, prepay any portion of the Term Loan Advances in whole at any time or in part from time to time, in amounts aggregating $200,000 or any greater integral multiple of $50,000, by paying the principal amount to be prepaid together with interest accrued or unpaid thereon to the date of prepayment and any applicable prepayment premium set forth below and any applicable charges pursuant to Section 2.9. Borrower shall give written notice (or telephonic notice confirmed in writing) to the Agent of any intended prepayment not less than 1 Business Day prior to any prepayment of Base Rate Loans and not less than 2 Business Days prior to any prepayment of LIBOR Loans. Such notice, once given, shall be irrevocable and, upon receipt of any such notice of optional prepayment, Agent shall promptly notify each Lender of the contents thereof and of such Lender's share of the prepayment. If Borrower shall prepay any of the Term Loan Advances pursuant to this Section 4.3.4 (other than in connection with a Permitted Asset Disposition), then Borrower shall be obligated to pay a prepayment premium equal to 1.0% of the principal amount prepaid if prepayment occurs during the first Loan Year and .50% of the principal amount prepaid if prepayment occurs during the second Loan Year. In no event shall any prepayment premium be due or payable under this Section 4.3.4 in connection with any prepayment of the Term Loan Advances on the effective date of termination of the Commitments, and the provisions of Section 5.2.3 shall govern in lieu of any prepayment premium.

Optional Prepayments of Term Loan Advances. Borrower may, at its option, prepay any portion of the Term Loan Advances consisting of Base Rate Loans in whole at any time or in part from time to time, in amounts aggregating $200,000 500,000 or any greater integral multiple of $50,000thereof, by paying the principal amount to be prepaid together with interest accrued or unpaid thereon to the date of prepayment and any applicable prepayment premium set forth below and below. Any portion of the Term Loan Advances consisting of LIBOR Loans may be prepaid, at Borrower's option, at any time in whole or from time to time in part, in amounts aggregating $1,000,000 or any greater integral multiple thereof, together with any applicable charges charge pursuant to Section 2.92.9 hereof. Borrower shall give written notice (or telephonic notice confirmed in writing) to the Agent of any intended prepayment not less than 1 Business Day prior to any prepayment of Base Rate Loans and not less than 2 Business Days prior to any prepayment of LIBOR Loans. Such notice, once given, shall be irrevocable and, upon receipt of any such notice of optional prepayment, Agent shall promptly notify each Lender of the contents thereof and of such Lender's share of the prepayment. If Borrower shall prepay any of the Term Loan Advances pursuant to this Section 4.3.4 (other than in connection with a Permitted Asset Disposition)4.3.4, then Borrower shall be obligated to pay a prepayment premium equal to 1.04% of the principal amount prepaid if prepayment occurs during the first Loan Year and .50Year, 3.0% of the principal amount prepaid if prepayment occurs during the second Loan Year, 2.0% of the principal amount prepaid if prepayment occurs during the third Loan Year and 1.0% of the principal amount prepaid if prepayment occurs during the fourth Loan Year. In no event event, however, shall any prepayment premium be due or and payable under this Section 4.3.4 in connection with respect to any prepayment of the Term Loan Advances on the effective date of termination of the Commitments, and the provisions of termination charges provided for in Section 5.2.3 hereof shall govern apply in lieu of any prepayment premium.

Optional Prepayments of Term Loan Advances. Borrower Borrowers may, at its their option, prepay any portion of the Term Loan Advances consisting of Base Rate Loans in whole at any time or in part from time to time, in amounts aggregating $200,000 500,000 or any greater integral multiple of $50,000100,000, by paying the principal amount to be prepaid together with interest accrued or unpaid thereon to the date of prepayment and any applicable prepayment premium set forth below and below. Any portion of the Term Loan Advances consisting of LIBOR Loans may be prepaid, at Borrowers’ option, at any time in whole or from time to time in part, in amounts aggregating $1,000,000 or any greater integral multiple thereof, together with any applicable charges pursuant to Section 2.9. Borrower Borrowers shall give written notice (or telephonic notice confirmed in writing) to the Agent of any intended prepayment not less than 1 Business Day prior to any prepayment of Base Rate Loans and not less than 2 Business Days prior to any prepayment of LIBOR Loans. Such notice, once given, shall be irrevocable and, upon receipt of any such notice of optional prepayment, Agent shall promptly notify each Lender of the contents thereof and of such Lender's ’s share of the prepayment. If Borrower Borrowers shall prepay any of the Term Loan Advances pursuant to this Section 4.3.4 (other than in connection with a Permitted Asset Disposition)4.3.4, then Borrower Borrowers shall be jointly and severally obligated to pay a prepayment premium equal to 1.0% of the principal amount prepaid if prepayment occurs during the first Loan Year and .50Year, 0.75% of the principal amount prepaid if prepayment occurs during the second Loan Year, and 0.5% of the principal amount prepaid if prepayment occurs during the third Loan Year. In no event shall any prepayment premium be due or payable under this Section 4.3.4 in connection with any prepayment of the Term Loan Advances on the effective date of termination of the CommitmentsCommitment, and the provisions of Section 5.2.3 shall govern in lieu of any prepayment premium.

Optional Prepayments of Term Loan Advances. Borrower may, at its option, prepay any portion of the Term Loan Advances consisting of Prime Rate Loans in whole at any time or in part from time to time, in amounts aggregating $200,000 1,000,000 or any greater integral multiple of $50,000100,000, by paying the principal amount to be prepaid together with interest accrued or unpaid thereon to the date of prepayment and any applicable prepayment premium set forth below below. Any portion of the Term Loan Advances consisting of LIBOR Rate Loans may be prepaid, at Borrower's option, at any time in whole or from time to time in part, in amounts aggregating $1,000,000 or any greater integral multiple thereof, by paying the principal amount to be prepaid, interest accrued and any applicable unpaid thereon to the date of prepayment, all charges pursuant to Section 2.93.9 hereof if such prepayment is made on a date other than the last day of an applicable Interest Period, and any applicable prepayment premium as hereinafter set forth in this Section 5.3.4. Each such optional prepayment shall be applied to prepay the Term Loan Advances on a Pro Rata basis and shall be applied against scheduled amortization payments in the inverse order of the occurrence thereof. Borrower shall give written notice (or telephonic notice confirmed in writing) to the Agent of any intended prepayment (i) not less than 1 Business Day prior to any prepayment of Base Prime Rate Loans and not less than 2 Business Days prior to any prepayment of LIBOR Rate Loans. Such notice, once given, shall be irrevocable and, upon receipt of any such notice of optional prepayment, Agent shall promptly notify each Lender of the contents thereof and of such Lender's share of the prepayment. If Borrower All prepayments shall prepay any include payment of accrued interest on the Term Loan Advances pursuant to this Section 4.3.4 (other than in connection with a Permitted Asset Disposition), then Borrower principal so prepaid and shall be obligated applied to pay a prepayment premium equal the payment of interest before applicable to 1.0% of the principal amount prepaid if prepayment occurs during the first Loan Year and .50% of the principal amount prepaid if prepayment occurs during the second Loan Year. In no event shall any prepayment premium be due or payable under this Section 4.3.4 in connection with any prepayment of the Term Loan Advances on the effective date of termination of the Commitments, and the provisions of Section 5.2.3 shall govern in lieu of any prepayment premiumprincipal.

Optional Prepayments of Term Loan Advances. Borrower may, at its option, prepay any portion of the Term Loan Advances in whole at any time or in part from time to time, in amounts aggregating $200,000 or any greater integral multiple of $50,000, by paying the principal amount to be prepaid together with interest accrued or unpaid thereon to the date of prepayment and any applicable prepayment premium set forth below and any applicable charges pursuant to Section SECTION 2.9. Borrower shall give written notice (or telephonic notice confirmed in writing) to the Agent of any intended prepayment not less than 1 Business Day prior to any prepayment of Base Rate Loans and not less than 2 Business Days prior to any prepayment of LIBOR Loans. Such notice, once given, shall be irrevocable and, upon receipt of any such notice of optional prepayment, Agent shall promptly notify each Lender of the contents thereof and of such Lender's share of the prepayment. If Borrower shall prepay any of the Term Loan Advances pursuant to this Section SECTION 4.3.4 (other than in connection with a Permitted Asset Disposition), then Borrower shall be obligated to pay a prepayment premium equal to 1.0% of the principal amount prepaid if prepayment occurs during the first Loan Year and .50% of the principal amount prepaid if prepayment occurs during the second Loan Yearprior to May 14, 2004. In no event shall any prepayment premium be due or payable under this Section SECTION 4.3.4 in connection with any prepayment of the Term Loan Advances on the effective date of termination of the Commitments, and the provisions of Section SECTION 5.2.3 shall govern in lieu of any prepayment premium.