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 the full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Agent, no later than 11:00 a.m., Boston, Massachusetts time, at least one (1) Business Day's prior written notice, of any proposed repayment pursuant to this Section 4.1 of Base Rate Loans, and three (3) Eurodollar Business Days' notice of any proposed repayment pursuant to this Section 4.1 of Eurodollar Rate Loans, in each case, specifying the proposed date of payment of Revolving Credit Loans and the principal amount to be paid. Each such partial prepayment of the Loans shall be in the amount of $500,000 or in integral multiples of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal repaid to the date of payment and shall be applied to the principal of Base Rate Loans or to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to repay prepay the outstanding amount of the Revolving Credit Loans, as a in whole or in part, at any time without penalty or premium, provided ; PROVIDED that the full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 may not be made only on prepaid unless the last day Borrower pays the Eurodollar Breakage Costs for each Eurodollar Rate Loan so prepaid at the time of the Interest Period relating theretosuch prepayment. The Borrower shall give the Managing AgentAgent (with copies to the Agent for each Bank), no later than 11:00 10:00 a.m., Boston, Massachusetts time, at least one two (12) Business Day's Days' prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 4.2 of Base any -50- Prime Rate Loans, and three at least four (34) Eurodollar Business Days' notice of any proposed repayment prepayment pursuant to this Section 4.1 4.2 of Eurodollar Rate Loans, in each case, specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Loans shall be in the an amount of equal to $500,000 or in an integral multiples multiple of $100,000 in excess thereofthereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal repaid prepaid to the date of payment payment, and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Prime Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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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 the any full or partial prepayment of the outstanding amount -------- of any Eurodollar Rate Loans pursuant to this Section 4.1 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower Borrowers shall give the Managing Administrative Agent, no later than 11:00 a.m.12:00 noon, Boston, Massachusetts Boston time, at least one (1) Business Day's Day prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Base Rate Loans, and three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount of $500,000 or in integral multiples of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment and prepayment, shall be applied applied, in the absence of instruction by the Borrowers, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the BorrowerAdministrative 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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, 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 the any full or partial prepayment of the outstanding amount of any Eurodollar LIBOR Rate Loans pursuant to this Section 4.1 (S)3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Administrative Agent, no later than 11:00 10:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's Days prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)3.3 of Base Rate Loans, and three (3) Eurodollar LIBOR Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)3.3 of Eurodollar LIBOR Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar LIBOR Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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Optional Repayments of Revolving Credit Loans. The --------------------------------------------- Borrower shall have the right, at its election, to repay prepay the outstanding amount of the Revolving Credit Loans, as a in whole or in part, at any time without penalty or premium, ; provided that the full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 may not be made only on prepaid unless the last day Borrower pays the Eurodollar Breakage Costs for each Eurodollar Rate Loan so prepaid at the time of the Interest Period relating theretosuch prepayment. The Borrower shall give the Managing AgentAgent (with copies to the Agent for each Bank), no later than 11:00 10:00 a.m., Boston, Massachusetts Boston time, at least one two (12) Business Day's Days' prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)4.2 of any Base Rate Loans, and three at least four (34) Eurodollar Business Days' notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)4.2 of Eurodollar Rate Loans, in each case, specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Loans shall be in the an amount of equal to $500,000 or in an integral multiples multiple of $100,000 in excess thereofthereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal repaid prepaid to the date of payment payment, and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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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 PROVIDED that the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 2.6 may be made only on the last day of the Interest Period relating thereto. The Borrower Except for repayments of the Revolving Credit Loans as contemplated by Section 2.14, the Borrowers’ Representative shall give the Managing Agent, no later than 11:00 a.m.12:00 noon, Boston, Massachusetts Boston time, at least one (1) Business Day's Day prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 2.6 of Base Rate Loans, and three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 2.6 of Eurodollar Rate Loans, in each case, specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the an amount equal to $1,000,000 or an integral multiple of $500,000 or in integral multiples of $100,000 1,000,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrowers’ Representative, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower's option. Each partial prepayment shall be allocated among the BanksRevolving Credit Lenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Tranche A Note or Tranche C Revolving Credit Lender’s Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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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 that the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Agent, no later than 11:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's on the day of the proposed repayment prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Base Rate Loans, and three (3) Eurodollar Business Days' notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal repaid to the date of payment 1,000,000 and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Revolving Credit Agreement (Republic Engineered Steels Inc)
Optional Repayments of Revolving Credit Loans. (a) 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 the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 SECTION 3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Agent, no later than 11:00 a.m., 10:00 a.m. (Boston, Massachusetts time), at least one two (12) Business Day's Days prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 SECTION 3.3 of Base Rate Loans, Loans and three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 SECTION 3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment of Revolving Credit Loans prepayment and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof500,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Credit and Term Loan Agreement (CRC Evans International Inc)
Optional Repayments of Revolving Credit Loans. The Subject to the --------------------------------------------- provisions of (S)5.9, 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 the full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Loan and Collateral Agent, no later than 11:00 10:00 a.m., Boston, Massachusetts Boston time, at least one three (13) Business Day's Days prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)3.3 of Base Rate Loans, and three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof1,000,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment together with any amount due under (S)5.9 hereof and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Revolving Credit Agreement (California Steel Industries 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 the full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant premium (but subject to this Section 4.1 may be made only on the last day of the Interest Period relating thereto5.10). The Borrower shall give the Managing Agent, no later than 11:00 10:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's Day prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Base Rate Loans, and three (3) Eurodollar LIBOR Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Eurodollar LIBOR Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar LIBOR Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion. Any amount so prepaid may be reborrowed by the Borrower as provided in, and subject to the conditions of, Section 2.1 hereof.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Stride & Associates 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 the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Agent, no later than 11:00 a.m., Boston, Massachusetts 10:00 a.m. (Boston time), at least one three (13) Business Day's Days' prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Base Prime Rate Loans, and three four (34) Eurodollar Business Days' notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof50,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Prime Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Revolving Credit Agreement (Bridgestreet Accommodations Inc)
Optional Repayments of Revolving Credit Loans. The Any 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 the any full or partial prepayment of the outstanding amount of any Eurodollar Eurocurrency Rate Loans pursuant to this Section 4.1 3.3 may be made only on the last day of the Interest Period relating theretothereto or, if made prior to such date, shall be subject to the provisions of Section 7.10. The Borrower shall give the Managing Agent, no later than 11:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's prior on the date of prepayment written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Base Rate Loans, and no less than three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 3.3 of Eurodollar Eurocurrency Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof1,000,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by a Borrower, first to the principal of Base 34 Rate Loans or and then to the principal of Eurodollar Eurocurrency Rate LoansLoans or both, at the BorrowerAgent'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 Tranche A Note or Tranche C Note, at the Borrower's optionRevolving Credit Commitment, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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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 the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 ss.3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Managing Administrative Agent, no later than 11:00 a.m.2:00 p.m., Boston, Massachusetts Boston time, at least one (1) Business Day's Days prior written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Base Rate Loans, and three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 5,000,000 or in integral multiples a whole multiple of $100,000 1,000,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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Optional Repayments of Revolving Credit Loans. The Any 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 the any full or partial prepayment of the outstanding amount of any Eurodollar Eurocurrency Rate Loans pursuant to this Section 4.1 ss.3.3 may be made only on the last day of the Interest Period relating theretothereto or, if made prior to such date, shall be subject to the provisions of ss.7.10. The Borrower shall give the Managing Agent, no later than 11:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's prior on the date of prepayment written notice, notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Base Rate Loans, and no less than three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Eurodollar Eurocurrency Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof1,000,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by a Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Eurocurrency Rate LoansLoans or both, at the BorrowerAgent'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 Tranche A Note or Tranche C Note, at the Borrower's optionRevolving Credit Commitment, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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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 the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 ss.3.3 may be made only on the last day of the Interest Period relating theretothereto unless the Borrower indemnifies the Banks as provided in ss.4.10(c). The Borrower shall give the Managing Agent, no later than 11:00 10:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's prior written notice, of any proposed repayment pursuant to this Section 4.1 of Base Rate Loans, and three (3) Eurodollar Business Days' Days prior written notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Base Rate Loans and Federal Funds Rate Loans and four (4) Eurodollar Business Days notice of any proposed prepayment pursuant to this ss.3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof1,000,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Federal Funds Rate Loans, second to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Revolving Credit Agreement (Freedom Securities Corp /De/)
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 the full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 3.4 may be made only on the last day of the Interest Period relating thereto, unless the Borrower has complied with Section 6.10. The Borrower shall give the Managing Administrative Agent, no later than 11:00 a.m., Boston, Massachusetts Boston time, at least one (1) Business Day's Day prior written notice, of any proposed repayment pursuant to this Section 4.1 3.4 of Base Prime Rate Loans, and three (3) Eurodollar Business Days' Days notice of any proposed repayment pursuant to this Section 4.1 3.4 of Eurodollar Rate Loans, in each case, specifying the proposed date of payment of Revolving Credit Loans and the principal amount to be paid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples 500,000, and, if a permanent prepayment accompanied by a reduction of $100,000 in excess thereofthe Total Revolving Credit Commitment, shall be accompanied by the payment of accrued interest on the principal repaid to the date of payment (rather than otherwise at the end of the applicable Interest Period) and shall be applied first to the principal of Base Prime Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower's optionLoans in direct order of Interest Period maturities. 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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, 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 (Bell Sports 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, as a whole or in part, at any time without penalty or premium, provided that the any full or partial prepayment of the outstanding amount -------- of any Eurodollar Rate Loans pursuant to this Section 4.1 (S)3.3 may be made only on the last day of the Interest Period relating theretothereto (unless accompanied by amounts required by (S)6.10). The Borrower shall give the Managing Agent, no not later than 11:00 a.m.1:00 p.m., Boston, Massachusetts time, at least one (1) Business Day's prior written notice, Boston time on the date of any such proposed repayment prepayment pursuant to this Section 4.1 (S)3.3 of Base Rate Loans, and three (3) Eurodollar Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 (S)3.3 of Eurodollar Rate Loans, in each case, case specifying the proposed date of payment prepayment of Revolving Credit Loans and the principal amount to be paidprepaid. Each such partial prepayment of the Revolving Credit Loans shall be in the amount an integral multiple of $500,000 or in integral multiples of $100,000 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal repaid prepaid to the date of payment prepayment and shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans or and then to the principal of Eurodollar Rate Loans, at the Borrower'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 Tranche A Note or Tranche C Revolving Credit Note, at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
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