Optional Prepayments of the Term Loan Sample Clauses

Optional Prepayments of the Term Loan. Borrowers may voluntarily prepay the Term Loan in full or in part at any time upon ten (10) Business Days prior written notice to the Agent.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Optional Prepayments of the Term Loan. The Borrowers may prepay the principal of the Term Loan, if any, in whole, subject to the terms and conditions of Section 10 hereof. The Borrowers may prepay without penalty or premium the principal of the Term Loan, if any, in part, at any time and from time to time; provided however, Borrowers may not prepay a portion of the Term Loan (x) if such borrowing is of Base Rate Loans, in a principal amount less than $500,000 and (y) if such borrowing is of LIBOR Loans, in a principal amount less than $500,000. Each such prepayment shall be accompanied by the payment of accrued interest of such payment or amount prepaid, and any applicable LIBOR breakage or related fees and costs provided for under this Agreement. The Borrowers shall notify Lender by telephone (confirmed by telecopy) of any prepayment hereunder (i) in case of prepayment of a LIBOR Loan, not later than 12:00 P.M., Chicago time, five (5) Business Days before the date of prepayment, and (ii) in the case repayment of a Base Rate Loan, not later than 12:00 P.M., Chicago time, three (3) Business Days prior to the date such prepayment is to be made. Each such notice shall specify the prepayment date and the principal amount of the Term Loan to be prepaid. All voluntary prepayments of the Term Loan shall be applied on a pro rata basis to the remaining principal installments thereof.
Sample 1Sample 2
Optional Prepayments of the Term Loan. The Borrower shall have the right, at its election, to repay the outstanding principal balance of the Term Loan as a whole or in part, at any time without penalty or premium, other than provided in Section 4-3 hereof. All such prepayments shall be applied to the principal balance of the Term Loan in inverse order of maturity. No prepayment hereunder shall postpone the date for, or reduce the amount of, any subsequently scheduled repayment of the Term Loan. Any portion of the Term Loan which is prepaid may not be reborrowed..
Sample 1
Optional Prepayments of the Term Loan. Subject to the provisions of this Section 2.02(g), the Borrowers shall have the right, at their option, to prepay the Term Loan in whole or in part (in amounts not less than One Hundred Thousand and 00/100 Dollars ($100,000.00)) at any time; provided, however, that any portion of the Term Loan which is a Libor Rate Loan may only be prepaid without incurring liability for the payment of amounts due under Section 2.12(c) hereunder at the end of the Interest Period for such Libor Rate Loan. All prepayments of any portion of the Term Loan shall be applied to the unpaid installments of principal in the reverse order of their scheduled maturities. All Term Loan prepayments permitted pursuant to this Section 2.02(g) shall be applied to the unpaid installments of principal of the Term Loan in the inverse order of scheduled maturities. In the event that any portion of the Term Loan which is being prepaid is a Libor Rate Loan, the Borrowers shall give the Bank written notice from an Authorized Representative (which shall be irrevocable) of each prepayment not later than 10:00 a.m. (Pittsburgh, Pennsylvania time) on the third (3rd) Business Day immediately preceding the date of prepayment, specifying the aggregate amount of principal to be prepaid and the prepayment date. In the event that any portion of the Term Loan which is being prepaid is a Base Rate Loan, the Borrowers shall give the Bank written notice from an Authorized Representative (which shall be irrevocable) of each prepayment not later than 10:00 a.m. (Pittsburgh, Pennsylvania time) on the Business Day immediately preceding the date of prepayment, specifying the aggregate amount of principal to be prepaid and the prepayment date. Following receipt of any notice as specified in this Section 2.02(g), the principal amount specified therein, together with accrued unpaid interest thereon to the date of such prepayment, shall be due and payable on such prepayment date without notice, presentment or demand. The amounts specified in such notice shall be due and payable by the Borrowers to the Bank upon delivery of such notice.
Sample 1
Optional Prepayments of the Term Loan. The Companies, at their option, may prepay the Term Loan at any time, in whole or in part, in each case without the payment of any prepayment premium or penalty, provided that on the date of such prepayment, there shall be due and payable accrued interest on the principal so prepaid to the date of such prepayment.
Sample 1
Optional Prepayments of the Term Loan. Borrower may, at its option, prepay any portion of the Term Loan consisting of Base Rate Loans in whole at any time or in part from time to time, in amounts aggregating $250,000 or any greater integral multiple of $250,000, by paying the principal amount to be prepaid together with interest accrued or unpaid thereon to the date of prepayment. Any portion of the Term Loan 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 of $250,000, together with any applicable charges pursuant to Section 2.14. Borrower shall give written notice (or telephonic notice promptly confirmed in writing) to Lender 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.
Sample 1
Optional Prepayments of the Term Loan. The Term Loan may be voluntarily prepaid in full or in part at any time; provided that (x) no Event of Default shall have occurred or be continuing either immediately before or immediately after such prepayment and (y) there shall be at least $10,000,000 of Availability both immediately before and immediately after such prepayment. Any such principal prepayments shall be applied to the outstanding principal amount of the Term Loans in inverse order of maturity. Each such prepayment shall be in an amount which is an integral multiple of $5,000,000 or any greater amount which is a multiple of $500,000, shall be made by Borrowers and shall be irrevocable.
Sample 1
AutoNDA by SimpleDocs
Optional Prepayments of the Term Loan. The Borrower shall have the right, at its election, to prepay the outstanding principal amount of the Term Loan, in whole or in part, at any time, subject to the payment of the Early Termination Fee, if applicable. The Borrower shall provide to the Administrative Agent, no later than 12:00 p.m., Boston time, at least three (3) Business Days prior written notice of any proposed prepayment pursuant to this 3.2, specifying the proposed date of prepayment and the principal amount to be prepaid. Each such partial prepayment of the Term Loan shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and any applicable Early Termination Fee. Each partial prepayment shall be allocated among the Lenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each such Lender's Term Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in propor tion. Any portion of the Term Loan prepaid by the Borrower may not be reborrowed hereunder.
Sample 1
Optional Prepayments of the Term Loan 
Sample 1Sample 2Sample 3See All (7)

Related to Optional Prepayments of the Term Loan

  • Optional Prepayment of Term Loan (a) Subject to clause (b) hereof, Borrower (at its option), may prepay all or any portion of the outstanding principal of any Term Loan Advance bearing interest at the Base Rate at any time, and may prepay all or any portion of the outstanding principal of any Term Loan bearing interest at the Eurodollar-based Rate upon one (1) Business Day’s notice to the Agent by wire, telecopy or by telephone (confirmed by wire or telecopy), with accrued interest on the principal being prepaid to the date of such prepayment. Any prepayment of a portion of a Term Loan as to which the Applicable Interest Rate is the Base Rate shall be without premium or penalty, except to the extent set forth in Section 4.7(d) below and any prepayment of a portion of a Term Loan as to which the Applicable Interest Rate is the Eurodollar-based Rate shall be without premium or penalty, except to the extent set forth in Section 11.1 and Section 4.7(d) below.

  • 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).

  • Optional Prepayment of Loans (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing (including any Swingline Borrowing) in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section.

  • Optional Prepayments of Advances The Borrower may, upon notice at least two Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 11:00 A.M. (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the 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 of Advances shall be in an aggregate principal amount of not less than the Borrowing Minimum or a Borrowing Multiple 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 9.04(c).

  • 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 11:00 a.m., New York City time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $1,000,000 and not less than $3,000,000.

  • Permitted Prepayment of Term Loans Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least thirty (30) days prior to such prepayment, and (ii) pays to the Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Time is Money Join Law Insider Premium to draft better contracts faster.