Payments and Prepayments of the Loans. (a) On the Maturity Date or the earlier termination of all Commitments pursuant to Section 2.1(d)(ii), the Borrowers shall pay in full the unpaid principal of all outstanding Revolving Credit Loans, together with all unpaid interest thereon and all fees and other amounts due with respect thereto. Overadvances shall be due and payable as provided in Section 2.1(e).
(b) Revolving Credit Loans that are LIBOR Loans may be prepaid at any time, subject to the provisions of Section 2.9, upon three (3) Business Days’ notice. Revolving Credit Loans that are Base Rate Loans may be prepaid at any time, without premium or penalty. Any such notice of prepayment shall be irrevocable. Prepayments of Revolving Credit Loans may be reborrowed to the extent provided in Section 2.1.
(c) The Agent may, in its discretion, apply any amount held by the Agent in the Collateral Accounts to reduce outstanding Loans. To the extent that the Agent so applies any such amount, then for purposes of calculating Total Outstandings under Section 2.1(a) hereof, credit for such amount shall be deemed to have been entered one (1) Business Day after being received by the Agent. Such credit shall be conditional upon final payment in cash or solvent credits of the items giving rise thereto.
(d) Except as provided in Section 2.1(e), if at any time the Total Outstandings exceed the lesser of (i) the Borrowing Base and (ii) the Available Commitment, the Borrowers shall immediately pay the amount of any such excess to the Agent for application to the Revolving Credit Loans.
(e) If, prior to thirty (30) days before the Maturity Date, the Lenders shall not have offered to extend such date and if no Default shall have occurred and be continuing, then at the option of the Borrowers the unpaid principal balance of the Revolving Credit Loans shall be converted into a term loan (the “Conversion Term Loan”) which shall be payable in twenty-three (23) consecutive monthly installments each equal to one-thirty sixth (1/36th) of the original principal amount of the Conversion Term Loan, payable on the first Business Day of each calendar month, commencing with the first day of the month following the Maturity Date, with the unpaid principal balance of the Conversion Term Loan, together with all unpaid interest thereon and all fees and other amounts due with respect thereto, due and payable in full on the Conversion Term Loan Maturity Date. If, prior to thirty (30) days before the Maturity Date, the Lenders shall h...
Payments and Prepayments of the Loans. (a) The entire principal of the Revolving Credit Notes shall be absolutely due and payable by the Borrower to the Lender on the Revolving Credit Maturity Date. All of the other Indebtedness evidenced by the Revolving Credit Notes shall, if not sooner paid, also be absolutely due and payable by the Borrower to the Lender on the Revolving Credit Maturity Date.
(b) The entire principal of the Term Note shall be payable by the Borrower to the Lender in 20 consecutive quarterly installments of principal. Such quarterly installments of principal shall be payable on the installment payment dates, and shall be in the amounts, set forth below: 03/31/06 $ 500,000 06/30/06 $ 500,000 09/30/06 $ 500,000 12/31/06 $ 500,000 03/31/07 $ 500,000 06/30/07 $ 500,000 09/30/07 $ 500,000 12/31/07 $ 500,000 03/31/08 $ 750,000 06/30/08 $ 750,000 09/30/08 $ 750,000 12/31/08 $ 750,000 03/31/09 $ 1,250,000 06/30/09 $ 1,250,000 09/30/09 $ 1,250,000 12/31/09 $ 1,250,000 03/31/10 $ 1,250,000 06/30/10 $ 1,250,000 09/30/10 $ 1,250,000 12/31/10 $ 4,250,000 All of the indebtedness evidenced by the Term Note shall, if not sooner paid, be in any event absolutely and unconditionally due and payable in full by the Borrower to the Lender on the Term Loan Maturity Date.
(c) Revolving Loans that are Base Rate Loans may be voluntarily prepaid at any time, without premium or penalty. Subject to the provisions of Section 2.16, Revolving Loans that are Eurodollar Loans may be voluntarily prepaid at any time, without premium or penalty, upon 3 Business Days’ prior written notice to the Lender. Any interest accrued on the amounts so prepaid to the date of such payment must be paid at the time of any such payment. No prepayment of the Revolving Loans prior to the Revolving Credit Maturity Date shall affect the Total Commitment or impair the Borrower’s right to borrow as set forth in Section 2.
Payments and Prepayments of the Loans. (a) Each Loan shall mature, ------------------------------------- and the principal amount thereof shall be due and payable, on the Revolving Credit Termination Date. Eurodollar Loans may not be prepaid. Base Rate Loans may be prepaid at any time, without premium or penalty. Interest accrued on the amounts so paid shall be paid in accordance with Section 2.6. No prepayment of the Loans during the Revolving Credit Period shall affect the Commitment Amount or impair the Company's right to borrow as set forth in Section 2.1.
(b) If at any time the aggregate principal amount of outstanding Loans shall exceed the Borrowing Base, the Company shall repay such principal amount (together with accrued interest thereon) of the outstanding Loans, if any, as may be necessary so that after such repayment the aggregate outstanding principal amount of the Loans does not exceed the amount of the Borrowing Base.
Payments and Prepayments of the Loans. (a) The Borrowers may make prepayments to the Agent, for the ratable accounts of the Lenders, of outstanding Eurodollar Loans in amounts not less than $1,000,000 and in multiples of $500,000, without premium or penalty, on the last day of any Interest Period applicable thereto, upon three (3) Business Days' notice to the Agent. The Borrowers may make prepayments to the Agent, for the ratable accounts of the Lenders, of Base Rate Loans at any time in amounts not less than $100,000 and in multiples of $50,000, without premium or penalty, upon one Business Day's notice to the Agent. Any interest accrued on the amounts so prepaid to the date of such payment must be paid at the time of any such payment. No prepayment of the Revolving Loans during the Revolving Credit Period shall affect the Commitment Amount or impair the Borrowers' right to borrow as set forth in Section 2.1.
(b) If at any time the sum of (i) the aggregate principal amount of outstanding Loans and (ii) the stated amount of the outstanding Letters of Credit exceeds the lesser of (A) the Borrowing Base in effect at such time or (B) the Commitment Amount, the Borrowers, jointly and severally, shall immediately repay to the Agent for the ratable accounts of the Lenders a principal amount of Loans equal to such excess.
Payments and Prepayments of the Loans. (a) The Borrower hereby absolutely and unconditionally promises to pay the entire principal amount of the Loans, and the entire principal amount of the Loans shall be absolutely due and payable by the Borrower to the Banks, on the Revolving Credit Maturity Date. All of the other Indebtedness evidenced by the Loan Documents shall, if not sooner paid, also be absolutely due and payable by the Borrower to the Banks on the Revolving Credit Maturity Date.
(b) Revolving Credit Loans that are Base Rate Loans may be voluntarily prepaid at any time, without premium or penalty, upon not less than one Business Day's prior written notice to the Administrative Agent and each Bank. Subject to the provisions of Section 2.16, Revolving Credit Loans that are LIBOR Loans may be voluntarily prepaid at any time, without premium or penalty, upon not less than two Business Days' prior written notice to the Administrative Agent and each Bank. Any interest accrued on the amounts so prepaid to the date of such payment must be paid at the time of any such payment. No prepayment of the Revolving Credit Loans prior to the Revolving Credit Maturity Date shall affect the Total Commitment or impair the Borrower's right to borrow as set forth in Section 2.l. Partial prepayments of the Revolving Credit Loans shall be in an amount equal to $2,500,000 or additional increments of $1,000,000. In the case of any partial payment of the Revolving Credit Loans, the total amount of such partial payment shall be allocable among the Revolving Credit Loans subject to adjustment as provided in Section 8.5, pro rata in accordance with the Commitment Percentage of each Bank.
Payments and Prepayments of the Loans. (a) The Borrower hereby absolutely and unconditionally promises to pay the entire principal amount of the Loans, and the entire principal amount of the Loans shall be absolutely due and payable by the Borrower to the Banks, on the Revolving Credit Maturity Date. All of the other Indebtedness evidenced by the Loan Documents shall, if not sooner paid, also be absolutely due and payable by the Borrower to the Banks on the Revolving Credit Maturity Date.
(b) Revolving Credit Loans that are Base Rate Loans may be voluntarily prepaid at any time, without premium or penalty, upon not less than one Business Day's prior written notice to the Administrative Agent and each Bank. Swingline Loans may be prepaid at any time with same day written notice to the Swingline Lender, provided such notice is received by 3:00 p.m. Subject to the provisions of Section 2.15, Revolving Credit Loans that are LIBOR Loans may be voluntarily prepaid at any time, without premium or penalty, upon not less than two Business Days' prior written notice to the Administrative Agent and each Bank. Any interest accrued on the amounts so prepaid to the date of such payment must be paid at the time of any such payment. No prepayment of the Revolving Credit Loans or Swingline Loans prior to the Revolving Credit Maturity Date shall affect the Total Commitment or impair the Borrower's right to borrow as set forth in Section 2.
Payments and Prepayments of the Loans. Any of the Loans may be prepaid at any time, in whole in the case of Eurodollar Loans or Federal Funds Rate Loans and in whole or in part in the case of Base Rate Loans, without premium or penalty, but with accrued interest to the date of payment (i) in the case of Eurodollar Loans, on the last day of any applicable Interest Period and upon three Business Days' notice, (ii) in the case of Federal Funds Rate Loans, on the last day of any applicable Interest Period and upon one Business Day's notice and (iii) in the case of Base Rate Loans, at any time upon one Business Day's notice. No prepayment of any Loan shall affect the Commitment Amount or impair the Company's right to borrow as set forth in Section 2.1.
Payments and Prepayments of the Loans. Loans that are LIBOR Loans may be prepaid without premium or penalty on the last day of any Interest Period applicable thereto and, subject to payment of amounts required pursuant to Section 2.14, may be prepaid at any other time, in each case upon three (3) Business Days' irrevocable notice. Loans that are Prime Rate Loans may be prepaid at any time, without premium or penalty, upon one (1) Business Day's irrevocable notice. If such notice is given by Borrower, Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to each such date on the amount prepaid and any amounts required pursuant to Section 2.14. No prepayment of the Loans during the Revolving Credit Period shall affect the Commitment Amount or impair Borrower's right to borrow as set forth in Section 2.1.
Payments and Prepayments of the Loans. LIBOR Loans may be prepaid at any time, without premium or penalty, on the last day of any Interest Period applicable thereto, upon three (3) Business Days' notice. Alternate Base Rate Loans may be prepaid at any time, without premium or penalty, upon one (1) Business Day's notice. Any interest accrued on the amounts so prepaid to the date of such payment must be paid at the time of any such payment. Except as set forth in Section 2.4 hereof, no prepayment of the Revolving Loans during the Revolving Credit Period shall affect the Commitment Amount or impair the Company's right to borrow as set forth in Section 2.1. Prepayments of the Term Loan shall be applied to installments of principal due thereunder in the inverse order of maturity.
Payments and Prepayments of the Loans. In addition to payments ------------------------------------- required pursuant to Section 7.6 hereof, the Loans may be prepaid at any time, in whole or in part, without premium or penalty, provided that interest accrued on the amounts so paid to the date of such payment must be paid at the time of any such payment. No prepayment of the Loans before the Termination Date shall impair the right of the Borrower to borrow as set forth in Section 2.1.
