Common use of Optional Prepayments or Repayments of Loans Clause in Contracts

Optional Prepayments or Repayments of Loans. (a) Subject to the terms and conditions of §6.10, each Borrower shall have the right, at its election, to repay or prepay the Outstanding Amount of the Loans, as a whole or in part, at any time without penalty or premium. Each Borrower shall give the Administrative Agent, the Canadian Agent or the U.K. Agent, as the case may be, no later than 11:00 a.m. (local time for such Agent) one (1) Business Day prior to the proposed date of prepayment or repayment, written notice (or telephonic notice confirmed in writing) of any proposed prepayment or repayment pursuant to this §2.11, specifying the proposed date of prepayment or repayment of the Loans and the principal amount to be paid and, if LIBOR Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent shall promptly notify each Domestic Bank, the Canadian Agent shall promptly notify each Canadian Bank, the U.K. Agent shall promptly notify each U.K. Bank and the Administrative Agent shall promptly notify each PR Bank, by written notice (or telephonic notice confirmed in writing) of such notice of payment and of the amount of such Bank’s pro rata share of such prepayment. If such notice is given by any Borrower(s), such Borrower(s) shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to §6.10. Each such prepayment shall be applied to the Loans of the applicable Banks in accordance with their respective pro rata share.

Optional Prepayments or Repayments of Loans. (a) Subject to the terms and conditions of §6.10, each Borrower shall have the right, at its election, to repay or prepay the Outstanding Amount of the Loans, as a whole or in part, at any time without penalty or premium. Each Borrower shall give the Administrative Agent, the Canadian Agent or the U.K. Agent, as the case may be, no later than 11:00 a.m. (local time for such Agent) one (1) Business Day (or, in the case of U.K. Loans, two (2) Business Days) prior to the proposed date of prepayment or repayment, written notice (or telephonic notice confirmed in writing) of any proposed prepayment or repayment pursuant to this §2.11, specifying the proposed date of prepayment or repayment of the Loans and the principal amount to be paid and, if LIBOR Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent shall promptly notify each Domestic Bank, the Canadian Agent shall promptly notify each Canadian Bank, the U.K. Agent shall promptly notify each U.K. Bank and the Administrative Agent shall promptly notify each PR Bank, by written notice (or telephonic notice confirmed in writing) of such notice of payment and of the amount of such Bank’s pro rata share of such prepayment. If such notice is given by any Borrower(s), such Borrower(s) shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to §6.10. Each such prepayment shall be applied to the Loans of the applicable Banks in accordance with their respective pro rata share.