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 prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Libor Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrower pays the Libor Breakage Costs for each Libor Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent (with copies to the Agent for each Lender), no later than 10:00 a.m., Boston, Massachusetts time, at least two (2) Business Days’ prior written notice of any prepayment pursuant to this §3.2 of any Base Rate Loans, and at least four (4) Business Days’ notice of any proposed prepayment pursuant to this §3.2 of Libor Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Loans shall be in an amount equal to $1,000,000 or an integral multiple of $1,000,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Libor Rate Loans.

Appears in 2 contracts

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

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Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Libor Eurodollar Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrower pays the Libor Eurodollar Breakage Costs for each Libor Eurodollar Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent (with copies to the Agent for each Lender), no later than 10:00 a.m., Boston, Massachusetts time, at least two (2) Business Days’ prior written notice of any prepayment pursuant to this §3.2 4.2 of any Base Prime Rate Loans, and at least four (4) Eurodollar Business Days’ notice of any proposed prepayment pursuant to this §3.2 4.2 of Libor Eurodollar Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Loans shall be in an amount equal to $1,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Prime Rate Loans and then to the principal of Libor Eurodollar Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided PROVIDED that the outstanding amount of any Libor Eurodollar Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrower pays the Libor Eurodollar Breakage Costs for each Libor Eurodollar Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent (with copies to the Agent for each LenderBank), no later than 10:00 a.m., Boston, Massachusetts Boston time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §3.2 Section 4.2 of any Base Prime Rate Loans, and at least four (4) Eurodollar Business Days' notice of any proposed prepayment pursuant to this §3.2 Section 4.2 of Libor Eurodollar Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Loans shall be in an amount equal to $1,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Prime Rate Loans and then to the principal of Libor Eurodollar Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that any full or partial prepayment of the outstanding amount of any Libor LIBOR Rate Loans pursuant to this §3.3 may not be prepaid made only on a date other than the last day of an the Interest Period unless the Borrower pays the Libor Breakage Costs for each Libor Rate Loan so prepaid at the time of such prepaymentrelating thereto. The Borrower shall give the Agent (with copies to the Agent for each Lender)Agent, no later than 10:00 a.m., Boston, Massachusetts Boston time, at least two three (23) Business Days’ Days prior written notice of any prepayment pursuant to this §3.2 of any Base Rate Loans, and at least four (4) Business Days’ notice of any proposed prepayment pursuant to this §3.2 3.3 of Libor Base Rate Loans, and four (4) LIBOR Business Days notice of any proposed prepayment pursuant to this §3.3 of LIBOR Rate Loans, in each case specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Revolving Credit Loans shall be in an amount equal to $1,000,000 or an integral multiple of $1,000,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid100,000, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, prepayment and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Libor LIBOR Rate Loans.. Each partial prepayment shall be allocated among the Banks, in proportion,

Appears in 1 contract

Samples: Revolving Credit Agreement (Anacomp Inc)

Optional Repayments of Revolving Credit Loans. The --------------------------------------------- Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided that the outstanding amount of any Libor Eurodollar Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrower pays the Libor Eurodollar Breakage Costs for each Libor Eurodollar Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent (with copies to the Agent for each LenderBank), no later than 10:00 a.m., Boston, Massachusetts Boston time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §3.2 (S)4.2 of any Base Rate Loans, and at least four (4) Eurodollar Business Days' notice of any proposed prepayment pursuant to this §3.2 (S)4.2 of Libor Eurodollar Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Loans shall be in an amount equal to $1,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of Libor Eurodollar Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties Inc)

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Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of the Revolving Credit Loans, in whole or in part, at any time without penalty or premium; provided PROVIDED that the outstanding amount of any Libor Eurodollar Rate Loans may not be prepaid on a date other than the last day of an Interest Period unless the Borrower pays the Libor Eurodollar Breakage Costs for each Libor Eurodollar Rate Loan so prepaid at the time of such prepayment. The Borrower shall give the Agent (with copies to the Agent for each LenderBank), no later than 10:00 a.m., Boston, Massachusetts time, at least two (2) Business Days' prior written notice of any prepayment pursuant to this §3.2 Section 4.2 of any Base -50- Prime Rate Loans, and at least four (4) Eurodollar Business Days' notice of any proposed prepayment pursuant to this §3.2 Section 4.2 of Libor Eurodollar Rate Loans, specifying the proposed date of prepayment of Revolving Credit Loans and the principal amount to be prepaid. Each such partial prepayment of the Loans shall be in an amount equal to $1,000,000 500,000 or an integral multiple of $1,000,000 100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaid, shall be accompanied by the payment of all charges, if any, outstanding on all Revolving Credit Loans so prepaid and of all accrued interest on the principal prepaid to the date of payment, and shall be applied, in the absence of instruction by the Borrower, first to the principal of Base Prime Rate Loans and then to the principal of Libor Eurodollar Rate Loans.

Appears in 1 contract

Samples: Revolving Credit Agreement (Boston Properties Inc)

Optional Repayments of Revolving Credit Loans. The Borrower shall have the right, at its election, to prepay repay the outstanding amount of the Revolving Credit Loans, in as a whole or in part, at any time without penalty or premium; , provided that the full or partial prepayment of the outstanding amount of any Libor Eurodollar Rate Loans pursuant to this Section 4.1 may not be prepaid made only on a date other than the last day of an the Interest Period unless the Borrower pays the Libor Breakage Costs for each Libor Rate Loan so prepaid at the time of such prepaymentrelating thereto. The Borrower shall give the Agent (with copies to the Agent for each Lender)Managing Agent, no later than 10:00 11:00 a.m., Boston, Massachusetts time, at least two one (21) Business Days’ Day's prior written notice notice, of any prepayment proposed repayment pursuant to this §3.2 Section 4.1 of any Base Rate Loans, and at least four three (43) Eurodollar Business Days' notice of any proposed prepayment repayment pursuant to this §3.2 Section 4.1 of Libor Eurodollar Rate Loans, in each case, specifying the proposed date of prepayment payment of Revolving Credit Loans and the principal amount to be prepaidpaid. Each such partial prepayment of the Loans shall be in an the amount equal to $1,000,000 or an integral multiple of $1,000,000 500,000 or in integral multiples of $100,000 in excess thereof or, if less, the outstanding balance of the Revolving Credit Loans then being repaidthereof, 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 prepaid repaid to the date of payment, payment and shall be applied, in the absence of instruction by the Borrower, first applied to the principal of Base Rate Loans and then or to the principal of Libor 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 and Term Loan Agreement (Emmis Broadcasting Corporation)

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