Common use of Optional Repayments of Committed Loans Clause in Contracts

Optional Repayments of Committed Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans and Incremental Term Loans, if any, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Eurocurrency Rate Loans may not be prepaid unless the Borrower pays the Eurocurrency Breakage Costs for each Eurocurrency Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent no later than 10:00 a.m., at least (A) one (1) Business Day’s prior written notice of any proposed prepayment pursuant to this §4.2 of any Base Rate Loans or LIBOR Floating Rate Loans, (B) three (3) Business Days’ prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate Loans denominated in Dollars, and (C) four (4) Business Days’ (or five (5) Business Days’, in the case of prepayment of Loans denominated in Special Notice Currencies) prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate Loans denominated in Alternative Currencies, which notice shall be in a form reasonably acceptable to the Agent and shall specify the proposed date of prepayment, which of the Facilities will be prepaid and the principal amount, currency, Type and Interest Period of the Loans to be prepaid. The Agent will promptly notify each Bank of its receipt of each such notice, and of the amount of such Bank’s ratable portion, if any, of such prepayment (based on such Bank’s applicable Commitment Percentage in respect of any prepayment of the Incremental Term Loan Facility and or the Total Revolving Credit Commitment). Each such partial prepayment of the Loans shall be in an amount equal to $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans or Incremental Term Loans, as applicable, then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans or Incremental Term Loans, as applicable, so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans, then to the principal of LIBOR Floating Rate Loans and then to the principal of Eurocurrency Rate Loans. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Subject to §5.12, each such prepayment shall be promptly paid to the Banks in accordance with their respective applicable Commitment Percentages in respect of any prepayment of any Incremental Term Loan Facility or the Total Revolving Credit Commitment.

Optional Repayments of Committed Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans and Incremental Term Loans, if any, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Eurocurrency EurocurrencyTerm Rate Committed Loans may not be prepaid unless the Borrower pays the Eurocurrency Breakage Costs for each Eurocurrency EurocurrencyTerm Rate Committed Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent no later than 10:00 a.m., at least (A) one (1) Business Day’s prior written notice of any proposed prepayment pursuant to this §4.2 of any Base Rate Loans or LIBOR Floating Rate RateDaily SOFR Loans, (B) three (3) Business Days’ prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency EurocurrencyTerm SOFR Loans or Alternative Currency Term Rate Loans denominated in Canadian Dollars, and (C) four (4) Business Days’ (or five (5) Business Days’, in the case of prepayment of Loans denominated in Special Notice Currencies) prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate RateAlternative Currency Committed Loans denominated in an Alternative Currencies, which notice shall be beCurrency other than Canadian Dollars, in a athe form reasonably acceptable to the Agent and andof a Notice of Loan Prepayment which shall specify the proposed date of prepayment, which of the Facilities will be prepaid and the principal amount, currency, Type and Interest Period of the Loans to be prepaid. The Agent will promptly notify each Bank of its receipt of each such notice, and of the amount of such Bank’s ratable portion, if any, of such prepayment (based on such Bank’s applicable Commitment Percentage in respect of any prepayment of the Incremental Term Loan Facility and or the Total Revolving Credit Commitment). Each such partial prepayment of the Loans shall be in an amount equal to $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans or Incremental Term Loans, as applicable, then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans or Incremental Term Loans, as applicable, so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans, then to the principal of LIBOR Floating Rate RateDaily SOFR Loans and then to the principal of Eurocurrency EurocurrencyTerm Rate Committed Loans. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Subject to §5.12, each such prepayment shall be promptly paid to the Banks in accordance with their respective applicable Commitment Percentages in respect of any prepayment of any Incremental Term Loan Facility or the Total Revolving Credit Commitment.

Optional Repayments of Committed Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans and Incremental Term Loans, if any, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Eurocurrency Term Rate Committed Loans may not be prepaid unless the Borrower pays the Eurocurrency Breakage Costs for each Eurocurrency Term Rate Committed Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent no later than 10:00 a.m., at least (A) one (1) Business Day’s prior written notice of any proposed prepayment pursuant to this §4.2 of any Base Rate Loans or LIBOR Floating Rate Daily SOFR Loans, (B) three (3) Business Days’ prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Term SOFR Loans or Alternative Currency Term Rate Loans denominated in Canadian Dollars, and (C) four (4) Business Days’ (or five (5) Business Days’, in the case of prepayment of Loans denominated in Special Notice Currencies) prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate Alternative Currency Committed Loans denominated in an Alternative CurrenciesCurrency other than Canadian Dollars, in the form of a Notice of Loan Prepayment which notice shall be in a form reasonably acceptable to the Agent and shall specify the proposed date of prepayment, which of the Facilities will be prepaid and the principal amount, currency, Type and Interest Period of the Loans to be prepaid. The Agent will promptly notify each Bank of its receipt of each such notice, and of the amount of such Bank’s ratable portion, if any, of such prepayment (based on such Bank’s applicable Commitment Percentage in respect of any prepayment of the Incremental Term Loan Facility and or the Total Revolving Credit Commitment). Each such partial prepayment of the Loans shall be in an amount equal to $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans or Incremental Term Loans, as applicable, then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans or Incremental Term Loans, as applicable, so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans, then to the principal of LIBOR Floating Rate Daily SOFR Loans and then to the principal of Eurocurrency Term Rate Committed Loans. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Subject to §5.12, each such prepayment shall be promptly paid to the Banks in accordance with their respective applicable Commitment Percentages in respect of any prepayment of any Incremental Term Loan Facility or the Total Revolving Credit Commitment.

Optional Repayments of Committed Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans and Incremental Term Committed Loans, if any, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Eurocurrency Committed LIBOR Rate Loans may not be prepaid unless the Borrower pays the Eurocurrency any LIBOR Breakage Costs for each Eurocurrency Committed LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent Administrative Agent, no later than 10:00 11:00 a.m., New York City time, at least (A) one (1) Business Day’s prior written notice of any proposed prepayment pursuant to this §4.2 2.9 of any Alternate Base Rate Loans or LIBOR Floating Rate Loans, (B) and at least three (3) LIBOR Business Days’ prior written notice of any proposed prepayment pursuant to this §4.2 2.9 of any Eurocurrency LIBOR Rate Loans denominated in DollarsLoans, and (C) four (4) Business Days’ (or five (5) Business Days’, in specifying the case proposed date of prepayment of Loans denominated in Special Notice Currencies) prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate Loans denominated in Alternative Currencies, which notice shall be in a form reasonably acceptable to the Agent and shall specify the proposed date of prepayment, which of the Facilities will be prepaid and the principal amount, currency, Type and Interest Period of the Loans amount to be prepaid. The Agent will promptly notify each Bank of its receipt of each such notice, and of the amount of such Bank’s ratable portion, if any, of such prepayment (based on such Bank’s applicable Commitment Percentage in respect of any prepayment of the Incremental Term Loan Facility and or the Total Revolving Credit Commitment). Each such partial prepayment of the Loans shall be in an amount equal to of $500,000 2,000,000 or an integral multiple of $100,000 500,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans or Incremental Term Loans, as applicable, then being repaid, shall be accompanied by the payment of all charges, if any, charges outstanding on all Revolving Credit Loans or Incremental Term Loans, as applicable, so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Alternate Base Rate Loans, then to the principal of LIBOR Floating Rate Loans and then to the principal of Eurocurrency LIBOR Rate Loans, at the Administrative Agent’s option. If such notice is given Unless otherwise directed by the Borrower, any prepayments made by the Borrower shall make such prepayment be applied first to any and the payment amount specified all Loans outstanding that are not secured by a Refinancing Mortgage (as defined in such notice §7.12), and only to Loans secured by Refinancing Mortgages if there shall be due and payable on no other Loans outstanding at the date specified thereintime. Subject to §5.12, each such prepayment shall Any Term Loans that are prepaid may not be promptly paid to the Banks in accordance with their respective applicable Commitment Percentages in respect of any prepayment of any Incremental Term Loan Facility or the Total Revolving Credit Commitmentreborrowed.

Optional Repayments of Committed Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans and Incremental Delayed Draw Term Loans, if any, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Eurocurrency Rate Loans may not be prepaid unless the Borrower pays the Eurocurrency Breakage Costs for each Eurocurrency Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent no later than 10:00 a.m., at least (A) one (1) Business Day’s prior written notice of any proposed prepayment pursuant to this §4.2 of any Base Rate Loans or LIBOR Floating Rate Loans, (B) three (3) Business Days’ prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate Loans denominated in Dollars, and (C) four (4) Business Days’ (or five (5) Business Days’, in the case of prepayment of Loans denominated in Special Notice Currencies) prior written notice of any proposed prepayment pursuant to this §4.2 of any Eurocurrency Rate Loans denominated in Alternative Currencies, which notice shall be in a form reasonably acceptable to the Agent and shall specify the proposed date of prepayment, which of the Facilities will be prepaid and the principal amount, currency, Type and Interest Period of the Loans to be prepaid. The Agent will promptly notify each Bank of its receipt of each such notice, and of the amount of such Bank’s ratable portion, if any, of such prepayment (based on such Bank’s applicable Commitment Percentage in respect of any prepayment of the Incremental Delayed Draw Term Loan Facility and or the Total Revolving Credit Commitment). Each such partial prepayment of the Loans shall be in an amount equal to $500,000 or an integral multiple of $100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans or Incremental Delayed Draw Term Loans, as applicable, then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans or Incremental Delayed Draw Term Loans, as applicable, so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans, then to the principal of LIBOR Floating Rate Loans and then to the principal of Eurocurrency Rate Loans. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Subject to §5.12, each such prepayment shall be promptly paid to the Banks in accordance with their respective applicable Commitment Percentages in respect of any prepayment of any Incremental the Delayed Draw Term Loan Facility or the Total Revolving Credit Commitment.