Common use of Optional Prepayments of Term Loan Clause in Contracts

Optional Prepayments of Term Loan. The Borrowers shall have the right at any time to prepay the Term Loan on or before the Maturity Date as a whole, or in part, without premium or penalty; provided that the minimum optional prepayment amount shall equal or exceed $1,000,000, upon not less than one (1) Business day with respect to Base Rate Loans and three (3) Business Days with respect to LIBOR Rate Loans prior written notice to the Administrative Agent; provided that (a) no portion of the Term Loan bearing interest at the LIBOR Rate may be prepaid pursuant to this Section except on the last day of the Interest Period relating thereto (unless breakage costs are paid by the Borrowers pursuant to Section 6.12) and (b) each partial prepayment shall be allocated among the Lenders, in proportion to their respective Term Loan Commitment Percentages, to the respective unpaid principal amount of each such Lender’s outstanding portion of the Term Loan as reflected in the Term Loan Account. Any prepayment of principal of the Term Loan shall be accompanied by payment in full of all interest accrued to the date of prepayment on the amount being prepaid and shall be applied pro rata to the remaining scheduled installments of the Term Loan on a pro rata basis and pro rata among the Lenders. No amount prepaid with respect to the Term Loan may be reborrowed.

Optional Prepayments of Term Loan. The Borrowers shall have the right at any time to prepay the Term Loan on or before the Maturity Date as a whole, or in part, without premium or penalty; , provided that the minimum optional prepayment amount shall equal or exceed $1,000,000, upon not less than one (1) Business day with respect to Base Rate Loans and three (3) Business Days with respect to LIBOR Rate Loans prior written notice to the Administrative Agent; Agent provided that (a) no portion of the Term Loan bearing interest at the LIBOR Rate may be prepaid pursuant to this Section except on the last day of the Interest Period relating thereto (unless breakage costs are paid by the Borrowers pursuant to Section 6.12) and (b) each partial prepayment shall be allocated among the Lenders, in proportion to their respective Term Loan Commitment Percentages, to the respective unpaid principal amount of each such Lender’s 's outstanding portion of the Term Loan as reflected in the Term Loan Account. Any prepayment of principal of the Term Loan shall be accompanied by payment in full of all interest accrued to the date of prepayment on the amount being prepaid and shall be applied pro rata to the remaining scheduled installments of the Term Loan on a pro rata basis and pro rata among the Lenders. No amount prepaid with respect to the Term Loan may be reborrowed.

Optional Prepayments of Term Loan. The Borrowers shall have the right at any time to prepay the Term Loan on or before the Term Loan Maturity Date Date, as a whole, whole or in part, without premium or penalty; provided that the minimum optional prepayment amount shall equal or exceed $1,000,000, upon not less than one (1) Business day Day with respect to Base Rate Loans and three (3) Business Days with respect to LIBOR Rate Loans prior written notice to the Administrative Agent; provided further that (a) no portion of the Term Loan bearing interest at the LIBOR Rate may be prepaid pursuant to this Section except on the last day of the Interest Period relating thereto (unless breakage costs are paid by the Borrowers pursuant to Section 6.126.11) and (b) each partial prepayment shall be allocated among the Lenders, in proportion to their respective Term Loan Commitment Percentages, to the respective unpaid principal amount of each such Lender’s outstanding portion of the Term Loan as reflected in the Term Loan Account. Any optional prepayment of principal of the Term Loan pursuant to this Section shall be accompanied by payment in full of all interest accrued to the date of prepayment on the amount being prepaid and and, during such time as there is no Default outstanding, shall be applied pro rata to the remaining scheduled installments of the Term Loan or to the Balloon as the Borrowers may direct, on a pro rata basis and pro rata among the Lenders. No amount prepaid with respect to the Term Loan may be reborrowed.