Common use of Optional Repayments of Revolving Credit Loans Clause in Contracts

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 Representative, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option.

Appears in 3 contracts

Samples: Revolving Credit and Term Loan Agreement (Sovran Self Storage Inc), Credit Agreement (Sovran Acquisition LTD Partnership), Credit Agreement (Sovran Self Storage Inc)

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Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall --------------------------------------------- have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount -------- of any Revolving Credit Loans that are LIBOR Eurodollar Rate Loans pursuant to this (S)3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City Boston time, at least two one (21) Business Days' Day prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 (S)3.3 of Revolving Credit Loans that are LIBOR Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 of Eurodollar Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid500,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Eurodollar Rate Loans, at the Administrative Agent's option. Each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 3 contracts

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc), Revolving Credit and Term Loan Agreement (Mapics Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Libor Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrowers pay any LIBOR Borrower pays the Libor Breakage Costs for each LIBOR Libor Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative AgentAgent (with copies to the Agent for each Lender), no later than 10:00 a.m., New York City Boston, Massachusetts time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §2.8 3.2 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 3.2 of Revolving Credit Loans that are LIBOR Libor Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of equal to $2,000,000 1,000,000 or an integral multiple of $500,000 1,000,000 in excess thereof, thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges charges, if any, outstanding on all Revolving Credit Loans 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 RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Libor Rate Loans, at the Administrative Agent's option.

Appears in 2 contracts

Samples: Revolving Credit Agreement (First Potomac Realty Trust), Revolving Credit Agreement (First Potomac Realty Trust)

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, and the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 Representative, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option.

Appears in 1 contract

Samples: Credit Agreement (Sovran Self Storage Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this ss.3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative AgentAgent prior written notice, no later than 10:00 a.m.11:00 a.m. (Boston time), New York City time, at least two (2) Business Days' prior written notice on the day of any proposed prepayment pursuant to this §2.8 ss.3.3 of any Revolving Credit Loans that are Base Rate Loans, and at least four three (43) LIBOR Business Days' Days notice of any proposed prepayment pursuant to this §2.8 ss.3.3 of Revolving Credit Loans that are LIBOR Rate Loans, in each case, specifying the proposed date of prepayment payment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Banks, at in proportion, as nearly as practicable, to the Administrative Agentrespective unpaid principal amount of each Bank's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Appnet Systems Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay Borrower pays any LIBOR Breakage Costs for each Revolving Credit LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 11:00 a.m., New York City time, at least two one (21) Business Days' Day's prior written notice of any prepayment pursuant to this §2.8 ss.2.9 of any Revolving Credit Loans that are Alternate Base Rate Loans, and at least four three (43) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 ss.2.9 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Alternate Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mack Cali Realty Corp)

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, and the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 Representative, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's ’s option.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Sovran Self Storage Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Eurodollar Rate Loans pursuant to this ss.2.9.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City a.m. (Boston time), at least two (2) Business Days' prior written notice of any proposed prepayment pursuant to this §2.8 ss.2.9.3 of any Revolving Credit Loans that are Base Prime Rate Loans, and at least four two (42) LIBOR Eurodollar Business Days' notice of any proposed prepayment pursuant to this §2.8 ss.2.9.3 of Revolving Credit Loans that are LIBOR Eurodollar Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid50,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Prime Rate Loans and then to the principal of Eurodollar Rate Loans. Each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Loans that are LIBOR Rate LoansNote, at with adjustments to the Administrative Agent's optionextent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Provant Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this Section 3.3 may not be prepaid made only on the last day of the Interest Period relating thereto, unless the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time of such prepaymentprepayment is accompanied by all amounts, if any, required to be paid pursuant to Section 5.9 hereof. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City Boston time, at least two (2) Business Days' Days prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 Section 3.3 of Revolving Credit Loans that are Prime Rate Loans, and three (3) LIBOR Business Days notice of any proposed prepayment pursuant to this Section 3.3 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid1,000,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Prime Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Banks, at in proportion, as nearly as practicable, to the Administrative Agentrespective unpaid principal amount of each applicable Bank's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion. 4.

Appears in 1 contract

Samples: Revolving Credit Agreement (Rollins Truck Leasing Corp)

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City time, at least two one (21) Business Days' Day prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four three (43) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, and the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 Representative, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's ’s option.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Life Storage Lp)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have --------------------------------------------- the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR -------- Eurodollar Rate Loans pursuant to this (S)3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City Boston time, at least two one (21) Business Days' Day prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 (S)3.3 of Revolving Credit Loans that are LIBOR Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 of Eurodollar Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid500,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Eurodollar Rate Loans, at the Administrative Agent's option. Each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Mapics Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this ss.3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City Boston time, at least two one (21) Business Days' Days prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 ss.3.3 of Revolving Credit Loans that are Prime Rate Loans, and three (3) LIBOR Business Days notice of any proposed prepayment pursuant to this ss.3.3 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 or a whole multiple of $100,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Prime Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Banks, at in proportion, as nearly as practicable, to the Administrative Agentrespective unpaid principal amount of each Bank's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Ionics Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this §3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative Borrowers shall give the Administrative Agent, (a) no later than 10:00 11:00 a.m., New York City Hartford time, at least two on the date of any proposed prepayment of Base Rate Loans pursuant to this §3.3 and (2b) not less than three (3) LIBOR Business Days' Days prior to any proposed prepayment of any LIBOR Rate Loans pursuant to this §3.3, prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loanssuch proposed prepayment, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrowers, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Lenders, at in proportion, as nearly as practicable, to the Administrative Agent's optionrespective unpaid principal amount of each Lender’s Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Credit Agreement (Vermont Pure Holdings LTD/De)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not pursuant to this Section 3.3 made on any date other than the last day of the Interest Period relating thereto shall be prepaid unless the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time of such prepaymentsubject to Section 6.10. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City Boston time, at least two one (21) Business Days' Days prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 Section 3.3 of Revolving Credit Loans that are Base Rate Loans, and three (3) LIBOR Business Days notice of any proposed prepayment pursuant to this Section 3.3 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaidprep aid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid1,000,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Banks, at in proportion, as nearly as practicable, to the Administrative AgentConfidential Materials omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions. respective unpaid principal amount of each Bank's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Aztec Technology Partners Inc /De/)

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Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have --------------------------------------------- the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that the full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are -------- LIBOR Rate Loans pursuant to this (S)3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 11:00 a.m., New York City Boston time, at least two (2) Business Days' prior on the day of the proposed repayment, written notice of any prepayment proposed repayment pursuant to this §2.8 (S)3.3 of any Revolving Credit Loans that are Base Rate Loans, and at least four three (43) LIBOR Business Days' Days notice of any proposed prepayment repayment pursuant to this §2.8 (S)3.3 of Revolving Credit Loans that are LIBOR Rate Loans, in each case, specifying the proposed date of prepayment payment of Revolving Credit Loans and the principal amount to be prepaidpaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid repaid to the date of payment, payment and shall be applied, in the absence of instruction by the Borrower Representative, applied first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Banks, at in proportion, as nearly as practicable, to the Administrative Agentrespective unpaid principal amount of each Bank's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Answer Think Consulting Group Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided PROVIDED that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay Borrower pays any LIBOR Breakage Costs for each Revolving Credit LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 11:00 a.m., New York City time, at least two one (21) Business Days' Day's prior written notice of any prepayment pursuant to this §2.8 Section 2.9 of any Revolving Credit Loans that are Alternate Base Rate Loans, and at least four three (43) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 Section 2.9 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Alternate Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option.

Appears in 1 contract

Samples: Credit Agreement (Mack Cali Realty Corp)

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this §3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative Borrowers shall give the Administrative Agent, (a) no later than 10:00 11:00 a.m., New York City Hartford time, at least two on the date of any proposed prepayment of Base Rate Loans pursuant to this §3.3 and (2b) not less than three (3) LIBOR Business Days' Days prior to any proposed prepayment of any LIBOR Rate Loans pursuant to this §3.3, prior written notice of any prepayment pursuant to this §2.8 such proposed prepayment, in each case signed by a Responsible Officer of any Revolving Credit Loans that are Base Rate Loans, each Borrower and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrowers, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Lenders, at in proportion, as nearly as practicable, to the Administrative Agent's optionrespective unpaid principal amount of each Lender’s Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Credit Agreement (Crystal Rock Holdings, Inc.)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall --------------------------------------------- have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount -------- of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this (S)3.3 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City time, a.m. (Central Standard Time) at least two one (21) Business Days' Day prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 (S)3.3 of Revolving Credit Loans that are Base Rate Loans, and three (3) LIBOR Business Days notice of any proposed prepayment pursuant to this (S)3.3 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated among the Banks, at in proportion, as nearly as practicable, to the Administrative Agentrespective unpaid principal amount of each Bank's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Credit Agreement (Jackson Products Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Breakage Costs Borrower pays all amounts due and payable under 4.8 hereof for each LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City time, at least two five (25) Business Days' Days prior written notice of any prepayment pursuant to this §2.8 3.2 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. The Agent shall provide each Bank with a copy of such notice promptly after its receipt thereof. Each such partial prepayment of the Revolving Credit Loans shall be in an amount a minimum of $2,000,000 or integral multiple of $500,000 in excess thereof100,000, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option.

Appears in 1 contract

Samples: Revolving Credit Agreement (Grove Property Trust)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this Section 3.3 may be made only on the last day of the Interest Period relating thereto or, if not made on such date, shall be prepaid unless subject to the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at the time provisions of such prepaymentSection 5.9(c) hereof. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York City Boston time, at least two one (21) Business Days' Day prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 Section 3.3 of Revolving Credit Loans that are Base Rate Loans, and two (2) LIBOR Business Days notice of any proposed prepayment pursuant to this Section 3.3 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option. Each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hbo & Co)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that that, except as otherwise permitted in this §2.10.4, any full or partial prepayment of the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans pursuant to this §2.10.4 may not be prepaid unless made only on the Borrowers pay any LIBOR Breakage Costs for each LIBOR Rate Loan so prepaid at last day of the time of such prepaymentInterest Period relating thereto. The Borrower Representative shall give the Administrative Agent, no later than 10:00 a.m., New York 12:00 noon (Salt Lake City time, ) at least two one (21) Business Days' Day prior written notice of any prepayment pursuant to this §2.8 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 2.10.4 of Revolving Credit Loans that are Base Rate Loans, and one (1) LIBOR Business Day notice of any proposed prepayment pursuant to this §2.10.4 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of paymentprepayment, and, if such prepayment is of a LIBOR Rate Loan and is made on a date other than the last day of the Interest Period relating thereto, such prepayment shall be further accompanied by indemnification payments pursuant to §5.8 hereof, and shall be applied, in the absence of instruction by the Borrower RepresentativeBorrower, first first, to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans. Each partial prepayment shall be allocated amongst the Banks, at in proportion, as nearly as practicable, to the Administrative Agent's optionrespective unpaid principal amount of each Bank’s Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit (Weider Nutrition International Inc)

Optional Repayments of Revolving Credit Loans. The Borrowers Borrower shall have the right, at their its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Eurocurrency Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Borrower pays the Eurocurrency Breakage Costs for each LIBOR Eurocurrency Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, Agent no later than 10:00 a.m., New York City time, at least two (2A) one (1) Business Days' Day’s prior written notice of any prepayment pursuant to this §2.8 4.2 of any Revolving Credit Loans that are Base Rate Loans, and at least four (4B) LIBOR three (3) Business Days' notice of any proposed prepayment pursuant to this §2.8 4.2 of Revolving Credit Eurocurrency Rate Loans that are LIBOR 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) notice of any proposed prepayment pursuant to this §4.2 of Eurocurrency Rate LoansLoans denominated in Alternative Currencies, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of equal to $2,000,000 500,000 or an integral multiple of $500,000 100,000 in excess thereof, thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges charges, if any, outstanding on all Revolving Credit Loans 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 RepresentativeBorrower, first to the principal of Revolving Credit Loans that are Base Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Eurocurrency Rate Loans, at the Administrative Agent's option.

Appears in 1 contract

Samples: Assignment and Assumption (Boston Properties LTD Partnership)

Optional Repayments of Revolving Credit Loans. The Borrowers shall have the right, at their election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Revolving Credit Loans that are LIBOR Rate Loans may not be prepaid unless the Borrowers pay any LIBOR Breakage Costs for each Revolving Credit LIBOR Rate Loan so prepaid at the time of such prepayment. The Borrower Representative shall give the Administrative Agent, no later than 10:00 11:00 a.m., New York City time, at least two one (21) Business Days' Day's prior written notice of any prepayment pursuant to this §2.8 ss.2.9 of any Revolving Credit Loans that are Base Prime Rate Loans, and at least four three (43) LIBOR Business Days' notice of any proposed prepayment pursuant to this §2.8 ss.2.9 of Revolving Credit Loans that are LIBOR Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount of $2,000,000 or integral multiple of $500,000 in excess thereof, or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges outstanding on all Revolving Credit Loans 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 Representative, first to the principal of Revolving Credit Loans that are Base Prime Rate Loans and then to the principal of Revolving Credit Loans that are LIBOR Rate Loans, at the Administrative Agent's option.

Appears in 1 contract

Samples: Revolving Credit Agreement (Cali Realty Corp /New/)

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