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 Administrative Agent, no later than 11:00 a.m., Houston, Texas 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 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 (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 11:00 a.m., Houston, Texas 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 (S)3.3 of Base Rate Loans, and three (3) Eurodollar Business 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 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 BanksLenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each BankLender's Tranche A Note at the Borrower'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 (Blue Steel Capital 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 PROVIDED that the any full or partial prepayment of the outstanding amount of any Eurodollar LIBOR 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 Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas Chicago 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 two (32) Eurodollar LIBOR Business Days' Days notice of any proposed repayment prepayment pursuant to this Section 4.1 ss.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 an aggregate amount of $500,000 or in integral multiples multiple of $100,000 250,000 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 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 at the Borrower's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
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 thereto. The Borrower shall give the Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas 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 (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 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 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 at the Borrower'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 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 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 Administrative Agent, no later than 11:00 a.m., Houston, Texas 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 BanksLenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each BankLender's Tranche A Note at the Borrower's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Canadian Security Agreement (Republic Technologies International Holdings LLC)
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 thereto(S)8.11). The Borrower shall give the Administrative Agent, no later than 11:00 a.m., Houston, Texas Boston time, at least one (1) Business Day's prior written notice, on the date of any proposed repayment prepayment written notice of any proposed prepayment pursuant to this Section 4.1 (S)3.3 of Base Rate Loans, and three (3) Eurodollar Business Days' prior written 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 a minimum aggregate amount of $500,000 250,000 or in integral multiples a whole multiple of $100,000 50,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal repaid to the date of payment thereof 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 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 at the Borrower'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 and Term Loan Agreement (Petro Stopping Centers L P)
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 premiumpremium (but subject to Section 6.9), provided that the any full or partial prepayment of the outstanding amount of any Eurodollar Rate Loans pursuant to this Section 4.1 may be 3.3 that is not made only on the last day of the Interest Period relating theretothereto shall be accompanied by any amounts due under Section 6.9. The Borrower shall give the Administrative Agent, no later than 11:00 a.m., Houston, Texas time, at least one (1) Business Day's Agent 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' 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 thereof100,000, shall be accompanied by the payment of accrued and unpaid 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 at the Borrower'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 and Term Loan Agreement (Buca Inc /Mn)
Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to repay the outstanding amount of make prepayments to permanently reduce the Revolving Credit LoansLoans and Total Commitment, 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 Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas Boston time, at least one (1) Business Day's Day 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 prepayment pursuant to this Section 4.1 of Eurodollar Rate Loans, in each case§4.3, specifying the proposed date of payment of Revolving Credit Loans prepayment and the principal amount to be paidprepaid. The Agent shall promptly notify the Banks of this proposed prepayment. Each such partial prepayment of the 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 to permanently reduce the principal of Base Rate Revolving Credit Loans or to and the principal of Eurodollar Rate Loans, at the Borrower's optionTotal Commitment. 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 Revolving Credit Note at the Borrower's optionand Total Commitment, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion. To the extent that the Revolving Credit Loans and the Total Commitment are reduced by a prepayment pursuant to this §4.3, the Borrower shall be permitted to receive additional Revolving Credit Loans in accordance with §3.1 of this Credit Agreement.
Appears in 1 contract
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 Eurocurrency 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 Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas Boston time, at least one (1) Business Day's on the day of the proposed prepayment prior written notice, notice (or telephonic notice conformed in a writing by the end of any such day) of such proposed repayment prepayment pursuant to this Section 4.1 §3.3 of Base Prime Rate Loans, and 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 of $500,000 100,000 or in an integral multiples of $100,000 multiple thereof (or the Dollar Equivalent) 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 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 Eurocurrency 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 at the Borrower's option’s Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
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 Administrative Agent, no later than 11:00 a.m., Houston, Texas 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.. 4.2
Appears in 1 contract
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 full or partial prepayment . Except for repayments of the outstanding amount of any Eurodollar Rate Revolving Credit Loans pursuant to this Section 4.1 may be made only on as contemplated by ss.2.13 the last day of the Interest Period relating thereto. The Borrower Borrowers' Representative shall give the Administrative Agent, no later than 11:00 a.m.12:00 noon, Houston, Texas Boston time, at least one (1) Business Day's Day 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 prepayment pursuant to this Section 4.1 of Eurodollar Rate Loans, in each casess.2.6, specifying the proposed date of payment prepayment of Revolving Credit such 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 and shall be applied to the principal of Base Rate Loans or to the principal of Eurodollar Rate Loans, at the Borrower's optionprepayment. 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 at the Borrower's optionRevolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
Samples: Loan and Security Agreement (Mayors Jewelers Inc/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, subject to Section 5.9, 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 3.3 may be made only on the last day of the Interest Period relating thereto. The Borrower shall give the Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas Boston time, at least one three (13) Business Day's Days prior written notice, of any proposed repayment pursuant to this Section 4.1 3.3 of Base Rate Loans, and three four (34) Eurodollar Business Days' Days notice of any proposed repayment pursuant to this Section 4.1 3.3 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 a minimum amount 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 to the date of payment and shall be applied 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 at the Borrower's optionNote, 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 (Trailer Bridge 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 (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 11:00 10:00 a.m., Houston, Texas 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 (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 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 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 at the Borrower'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 (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 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 thereto. The Borrower shall give the Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas Boston time, at least one (1) Business Day's on the day of the proposed prepayment prior written notice, notice (or telephonic notice conformed in a writing by the end of any such day) of such proposed repayment prepayment pursuant to this Section 4.1 ss.3.3 of Base Prime 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 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 of $500,000 100,000 or in an integral multiples of $100,000 multiple thereof (or the Dollar Equivalent) 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 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 Eurocurrency 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 at the Borrower's optionBanks Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
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 Administrative AgentAgent (with copies for each Bank), no later than 11:00 10:00 a.m., Houston, Texas 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 ss.3.2 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 ss.3.2 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 amount an integral multiple of $500,000 or in integral multiples 100,000, or, if less, the outstanding balance of $100,000 in excess thereofthe 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 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 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 at the Borrower's option, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Appears in 1 contract
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 LIBOR 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 Borrowers shall give the Administrative Agent, no later than 11:00 10:00 a.m., Houston, Texas 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 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 a minimum aggregate amount of $500,000 or 200,000 and shall be in integral multiples of $100,000 50,000 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, 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 at the Borrower'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 (Us Xpress Enterprises Inc)