Common use of Permitted Prepayment of Term Loan Clause in Contracts

Permitted Prepayment of Term Loan. Borrower shall have the option to prepay all, but not less than all, of the Term Loan advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loan at least five (5) days prior to such prepayment, and (ii) pays in respect of the Term Loan, on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loan plus accrued and unpaid interest thereon through the prepayment date, plus (B) the Prepayment Fee, plus (C) the Final Payment, plus (D) all other sums, 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 (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc)

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Permitted Prepayment of Term Loan. (i) Borrower shall have the option to prepay all, but not less than all, of the Term Loan advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loan at least five thirty (530) days prior to such prepayment, and (ii) pays in respect of to the Term Loan, Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loan plus accrued and unpaid interest thereon through the prepayment date, plus (B) the Final Payment, (C) the Prepayment Fee, plus (C) the Final Payment, plus (D) all other sums, Obligations that shall have become are due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (Bellicum Pharmaceuticals, Inc), Loan and Security Agreement (Bellicum Pharmaceuticals, Inc)

Permitted Prepayment of Term Loan. Borrower shall have the option to prepay all, but not less than all, of the Term Loan advanced by the Lenders Bank under this Agreement, provided Borrower (i) provides written notice to Collateral Agent Bank of its election to prepay the Term Loan at least five thirty (530) days prior to such prepayment, and (ii) pays in respect of to the Term Loan, Bank on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, prepayment an amount equal to the sum of (A) all outstanding principal of the Term Loan plus accrued and unpaid interest thereon through the prepayment date, plus (B) the Final Payment, (C) the Prepayment Fee, plus (C) the Final Payment, plus (D) all other sums, Obligations that shall have become are due and payable, including Bank’s Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Fennec Pharmaceuticals Inc.)

Permitted Prepayment of Term Loan. Borrower shall have the option option, at any time, to prepay all, but not less than all, of the Term Loan advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loan at least five thirty (530) days prior to such prepayment, and (ii) pays in respect of to the Term Loan, Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loan plus accrued and unpaid interest thereon through the prepayment date, plus (B) the Final Payment, (C) the Prepayment Fee, plus (C) the Final Payment, plus (D) all other sums, sums that shall have become due and payablepayable but have not been paid, including Lenders’ Expenses, if any, and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Paratek Pharmaceuticals Inc)

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Permitted Prepayment of Term Loan. Borrower shall have the option option, at any time, to prepay all, but not less than all, of the Term Loan advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loan at least five ten (510) days prior to such prepayment, and (ii) pays in respect of to the Term Loan, Lenders on the date of such prepayment, payable to each Lender in accordance with its respective Pro Rata Share, an amount equal to the sum of (A) all outstanding principal of the Term Loan plus accrued and but unpaid interest thereon through the prepayment date, plus (B) the Prepayment FeeFinal Payment, plus (C) the Final PaymentPrepayment Fee, plus (D) all other sums, that shall have become due and payablepayable but have not been paid, including Lenders’ Expenses, if any, and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Hansen Medical Inc)

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