Common use of Partial Prepayments Clause in Contracts

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrower, and then to the principal of the Outstanding Revolving Credit Loans, and then pro rata to the principal of the Outstanding Term Loans A and the Outstanding Term Loans B (and with respect to each category of Loans, first to the principal of Base Rate Loans, and then to the principal of LIBOR Rate Loans).

Appears in 2 contracts

Samples: Credit Agreement (Carter Validus Mission Critical REIT II, Inc.), Credit Agreement (Carter Validus Mission Critical REIT II, Inc.)

AutoNDA by SimpleDocs

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 or an integral multiple of $100,000.00 in excess thereofthereof (unless, in either instance, a lesser amount would be due where the Loans are prepaid in full), shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §§3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrower, Borrower and then to the principal of the Outstanding Revolving Credit Loans, Loans and then the pro rata to the principal of the any Outstanding Term Loans A and the Outstanding Term Loans B (and with respect to each category of Loans, first to the principal of Base Rate Loans, and then to the principal of LIBOR SOFR Rate Loans).

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 100,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, in then to the principal of Revolving Credit Loans. In the absence of instruction by the Borrower, and then to the principal of the Outstanding Revolving Credit Loans, and then pro rata to the principal of the Outstanding Term Loans A and the Outstanding Term Loans B (and with respect to each category of Loans, prepayments shall be applied first to the principal of Base Rate Loans and Swing Loans, and then to the principal of LIBOR Rate Term SOFR Loans).

Appears in 1 contract

Samples: Credit Agreement (Mid-America Apartments, L.P.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, thensecond, in the absence of instruction by the Borrower, and then to the principal of the Outstanding Revolving Credit Loans, and then pro rata to the principal of any Outstanding Bid Loans, third to the principal of any Outstanding Revolving Credit Loans and last pro rata to the principal of Outstanding Term Loans A and the Outstanding Term Loans B (B. Each partial payment under §3.2 and with respect to each category of Loans, §3.3 shall be applied first to the principal of Base Rate Loans, and then to the principal of LIBOR Rate Loans).

Appears in 1 contract

Samples: Credit Agreement (QTS Realty Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §§3.2 and §3.3 shall be applied first applied, first, pro rata to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrower, and then to the principal of the Outstanding Revolving Credit Loanssecond, and then pro rata to the principal of any Outstanding Revolving Credit Loans, and, third, pro rata to the principal of any Outstanding Term Loans A and the Outstanding Term Loans B (and with respect to each category of Loans, first first, pro rata to the principal of Base Rate Loans, and then second, pro rata to the principal of LIBOR Rate Loans).

Appears in 1 contract

Samples: Credit Agreement (GTJ Reit, Inc.)

AutoNDA by SimpleDocs

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §§3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then, except as provided above with respect to §3.2(a)(i)(A), in the absence of instruction by the Borrower, and then to the principal of the Outstanding Revolving Credit Loans, Loans and then pro rata to the principal of the any Outstanding Term Loans A and the Outstanding Term Loans B (and with respect to each category of Loans, first to the principal of Base Rate Loans, and then to the principal of LIBOR Rate Loans).

Appears in 1 contract

Samples: Credit Agreement (MedEquities Realty Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $500,000.00 1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §§3.2 and §3.3 shall be applied first applied, first, pro rata to the principal of any Outstanding Swing Loans, then, in the absence of instruction by the Borrower, and then to the principal of the Outstanding Revolving Credit Loanssecond, and then pro rata to the principal of any Outstanding Revolving Credit Loans, and, third, pro rata to the principal of any Outstanding Term Loans A and the Outstanding Term Loans B (and with respect to each category of Loans, first first, pro rata to the principal of Base Rate Loans, and then second, pro rata to the principal of LIBOR Rate Daily Simple SOFR Loans, and third, pro rata, to the principal of Term SOFR Loans).

Appears in 1 contract

Samples: Credit Agreement (GTJ Reit, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!