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

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m., Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 of 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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the 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)

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Optional Repayments of Revolving Credit Loans. The Borrower Any of the Borrowers shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Eurocurrency Rate Loans Loan pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The applicable Borrower shall give the Agent, no later than 10:00 a.m., Boston time, Agent at least one two (12) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Eurodollar any Eurocurrency Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit such Eurocurrency Rate Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an integral multiple of $500,00050,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the applicable Borrower, first to the principal of the Base Rate Loans Loans, if any, and then to the principal of Eurodollar the Eurocurrency Rate Loans, at the 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 Agreement (Genrad Inc), Revolving Credit Agreement (Genrad Inc), Revolving Credit Agreement (Genrad Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m., Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.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 integral multiple of $500,0001,000,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the 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 2 contracts

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

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans and Fixed Rate Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 Section 3.3 may be made only on the last day of the Interest Period relating theretothereto unless breakage costs described in Section 5.10 in connection therewith are paid by the Borrower. The Borrower shall give the Administrative Agent, no later than 10:00 11:00 a.m., Boston New York time, at least one (1) Business Day prior on such day written notice of any proposed prepayment pursuant to this (S)3.3 Section 3.3 of Base Rate Loans, and no later than 12:00 noon, New York time, three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 Section 3.3 of Fixed Rate Loans or 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 a minimum aggregate amount of $1,000,000 or an integral multiple of $500,000500,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Fixed Rate Loans, second to the principal of Base Rate Loans and then third to the principal of Eurodollar Rate Loans, at the Agent's option. Each partial prepayment shall be allocated among the BanksLenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each BankLender's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Coach Inc), Revolving Credit Agreement (Coach Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall have --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m., Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 of 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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the 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 Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 §3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 11:00 a.m., Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 §3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 §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 integral multiple of $500,000250,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the 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 (Fargo Electronics Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m., Boston time, at least one (1) Business Day prior written Administrative Agent notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, Loans not later than 11:00 a.m. New York time on the Business Day prior to the date of such prepayment and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Eurodollar Rate LoansLoans not less than two (2) Eurodollar Business Days prior to the date of such prepayment, in each case specifying the proposed date of prepayment of Revolving Credit Loans and Loans, the principal amount to be prepaidprepaid and which Loan is to be repaid. Each such partial prepayment of the Revolving Credit Loans shall be in a minimum amount of $5,000,000 or an integral multiple of $500,0001,000,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the Agent's option. Each partial prepayment shall be allocated among the BanksBanks in accordance with their respective Revolving Credit Commitment Percentages, 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 (Hvide Marine Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, as a whole or in part, at any time without premium or penalty or premium(but subject to Section 6.9), provided that any full or partial prepayment of the outstanding amount -------- of any Eurodollar Rate Loans pursuant to this (S)3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Administrative Agent, no later than 10:00 a.m., Boston time, at least one five (15) Business Day Days prior written notice of any proposed prepayment pursuant to this (S)3.3 Section 3.3 of Base Rate Loans, and three five (35) Eurodollar LIBOR Business Days notice of any proposed prepayment pursuant to this (S)3.3 Section 3.3 of Eurodollar 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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar 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 and Term Loan Agreement (Bangor Hydro Electric Co)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the AgentAgent prior written notice of any proposed prepayment pursuant to this 3.3 of Base Rate Loans, no later than 10:00 a.m., Boston time, at least one on the day of such prepayment and two (12) Eurodollar Business Day prior written Days' notice of any proposed prepayment pursuant to this (S)3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 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 Except with respect to funds applied pursuant to 9.14 hereof, each such partial prepayment of the Revolving Credit Loans shall be in an integral multiple of $500,000100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment prepayment, shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of such Bank's Revolving Credit Note, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the 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 (Arrow Automotive Industries Inc)

Optional Repayments of Revolving Credit Loans. The Borrower Borrowers shall --------------------------------------------- have the right, at its their election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Eurocurrency Rate Loans pursuant to this (S)3.3 may be ss. 3.3 made only other than on the last day of the Interest Period relating theretothereto shall be subject to the payment of any additional costs described in ss. 5.10 incurred by any Lender. The Borrower Borrowers shall give the Administrative Agent, no later than 10:00 a.m., Boston a.m. (Eastern time), at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 ss. 3.3 of Base Rate Loans, Loans or Eurocurrency Rate Loans denominated in Dollars and three four (34) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss. 3.3 of Eurodollar Eurocurrency Rate LoansLoans denominated in an Optional Currency, 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 integral the amount of $5,000,000 or a multiple of $500,0001,000,000 in excess thereof (or the equivalent thereof in an Optional Currency), shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the BorrowerBorrowers, first to the principal of Base Rate Loans and then to the principal of Eurodollar Eurocurrency Rate Loans, at the Agent's option. Each partial prepayment shall be allocated among the BanksLenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each BankLender's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Multicurrency Revolving Credit Agreement (Borders Group Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m.12:00 noon, Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, and three four (34) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and prepayment, shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the Agent's option, and shall be in an integral multiple of $500,000 in the case of a partial prepayment 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 Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

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Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, as a whole or in part, at any time without penalty or premium, provided PROVIDED that any full or partial prepayment of the outstanding amount -------- of any Eurodollar Rate Loans pursuant to this (S)3.3 may be Section 3.3 which is made only on any date other than the last day of the Interest Period relating theretothereto shall be subject to Section 5.10 hereof. The Borrower shall give the Administrative Agent, no later than 10:00 a.m., Boston time, at least one (1) Business Day Days prior written notice of any proposed prepayment pursuant to this (S)3.3 Section 3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 Section 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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the Agent's option. Each partial prepayment shall be allocated among the BanksLenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each BankLender'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 (Keane Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the AgentAgent prior written notice (a) except as expressly provided for in (S)8.13 hereof, no later than 10:00 a.m., Boston time, at least one (1) Business Day prior written notice Hartford time of any proposed prepayment pursuant to this (S)3.3 of Base Rate Loans, and (b) at least three (3) -10- Eurodollar Business Days 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 Except as expressly provided for in (S)8.13 hereof with respect to Base Rate Loans only, each such partial prepayment of the Revolving Credit Loans shall be in an integral multiple of (1) $500,0001,000,000 with respect to Eurodollar Rate Loans and (2) $50,000 with respect to Base Rate Loans, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate LoansLoans or both, at the 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 (Moore Medical Corp)

Optional Repayments of Revolving Credit Loans. The Borrower Borrowers shall --------------------------------------------- ----------------------------------------------- have the right, at its their election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower Borrowers shall give the Administrative Agent, no later than 10:00 a.m.12:00 noon, Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and prepayment, shall be applied, in the absence of instruction by the BorrowerBorrowers, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the Administrative Agent's option, and shall be in an integral multiple of $500,000 in the case of a partial prepayment 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 Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall have --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 -------- Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m.12:00 noon, Boston time, at least one (1) Business Day prior written notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, and three four (34) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.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 integral multiple of $500,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and prepayment, shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the Agent's option, and shall be in an integral multiple of $500,000 in the case of a partial prepayment 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 Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.

Appears in 1 contract

Samples: Revolving Credit Agreement (Fairfield Communities Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, 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 Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Agent, no later than 10:00 a.m., Boston time, at least one (1) Business Day prior written Administrative Agent notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, Loans not later than 11:00 a.m. New York time on the date of such prepayment and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Eurodollar Rate LoansLoans not less than two (2) Eurodollar Business Days prior to the date of such prepayment, in each case specifying the proposed date of prepayment of Revolving Credit Loans and Loans, the principal amount to be prepaidprepaid and which Loan is to be repaid. Each such partial prepayment of the Revolving Credit Loans shall be in a minimum amount of $5,000,000 or an integral multiple of $500,0001,000,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the 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 (Hvide Marine Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall --------------------------------------------- have the right, at its election, to repay the outstanding amount of the Revolving Credit Loans, as a whole or in part, at any time without penalty or premium, provided PROVIDED that any full or partial prepayment of the outstanding amount -------- of any Eurodollar Rate Loans pursuant to this (S)3.3 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Administrative Agent, no later than 10:00 a.m.2:00 p.m., Boston time, at least one (1) Business Day Days prior written notice of any proposed prepayment pursuant to this (S)3.3 ss.3.3 of Base Rate Loans, and three (3) Eurodollar Business Days notice of any proposed prepayment pursuant to this (S)3.3 ss.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 integral multiple of $500,0005,000,000 or a whole multiple of $1,000,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Eurodollar Rate Loans, at the Agent's option. Each partial prepayment shall be allocated among the BanksLenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each BankLender'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 (Peregrine Systems Inc)

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