Common use of Permitted Prepayment of Loans Clause in Contracts

Permitted Prepayment of Loans. Borrowers shall have the option to prepay all, but not less than all, of the Loans, provided Borrowers provide written notice to Administrative Agent of its election to prepay the Loans at least thirty (30) days prior to such prepayment, and pay, on the date of such prepayment, to Lenders, ratably, an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest thereon, plus (ii) all amounts then due in accordance with the Fee Letter, plus (iii) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 4 contracts

Samples: Loan and Security Agreement (Alto Neuroscience, Inc.), Loan and Security Agreement (Alto Neuroscience, Inc.), Loan and Security Agreement (TScan Therapeutics, Inc.)

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Permitted Prepayment of Loans. Borrowers shall have the option to prepay all, but not less than all, of the Loans, provided Borrowers provide written notice to Administrative Agent of its election to prepay the Loans at least thirty (30) 30 days prior to such prepayment, and pay, on the date of such prepayment, to Lenders, ratably, an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest thereon, plus (ii) all amounts any fees or payments then due in accordance with pursuant to the Fee Letter, plus (iii) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 3 contracts

Samples: Loan and Security Agreement (Metacrine, Inc.), Loan and Security Agreement (Metacrine, Inc.), Loan and Security Agreement (Metacrine, Inc.)

Permitted Prepayment of Loans. Borrowers shall have the option to prepay all, but not less than all, of the Loans, provided Borrowers provide written notice to Administrative Agent of its election to prepay the Loans at least thirty ten (3010) days Business Days prior to such prepayment, and pay, on the date of such prepayment, to Lenders, ratably, an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest thereon, plus (ii) all amounts any fees or payments then due in accordance with pursuant to the Fee Letter, plus (iii) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (Evelo Biosciences, Inc.), Loan and Security Agreement (Evelo Biosciences, Inc.)

Permitted Prepayment of Loans. Borrowers Borrower shall have the option to prepay all, but not less than all, of the LoansTerm Loans advanced by Lenders under this Agreement, provided Borrowers provide Borrower (i) provides written notice to Administrative Agent of its election to prepay the Term Loans at least thirty (30) days prior to such prepayment, and pay(ii) pays, on the date of such prepayment, to Lenders, ratably, an amount equal to the sum of: prepayment (iA) all outstanding principal plus accrued and unpaid interest thereoninterest, plus (iiB) all amounts then due in accordance with the Fee LetterPrepayment Fee, plus (iiiC) the Final Payment for each Term Loan, plus (D) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

Samples: Term Loan and Security Agreement (Meru Networks Inc), Term Loan and Security Agreement (Meru Networks Inc)

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Permitted Prepayment of Loans. Borrowers shall have the option to prepay all, but not less than all, of the Loans, provided Borrowers provide written notice to Administrative Agent of its election to prepay the Loans at least thirty (30) days prior to such prepayment, and pay, on the date of such prepayment, to Lenders, ratably, an amount equal to the sum of: (i) all outstanding principal plus accrued and unpaid interest thereon, plus (ii) all amounts then due in accordance with the Fee Letter, plus (iii) all other sums, if any, that shall have become due and payablepayable hereunder, including interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (Surface Oncology, Inc.), Loan and Security Agreement (Surface Oncology, Inc.)

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