Common use of Permitted Prepayment of Term Loans Clause in Contracts

Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least ten (10) days prior to such prepayment, and (ii) pays to the 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 Loans plus accrued but unpaid interest thereon through the prepayment date, (B) the Final Payment, plus (C) all other sums, that shall have become due and payable hereunder but have not been paid, including Lenders’ Expenses, if any, and interest at the Default Rate with respect to any past due amounts.” 2.3 Section 2.5 (Fees). Sections 2.5(d)-(e) of the Loan Agreement are hereby amended and restated and replaced as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Transenterix Inc.)

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Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least ten (10) days Business Days prior to such prepayment, and (ii) pays to the 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 Loans plus accrued but and unpaid interest thereon through the prepayment date, (B) the Final Payment, plus (C) the Prepayment Fee, (D) the Amendment Fee, plus (E) all other sums, Obligations that shall have become are due and payable hereunder but have not been paidpayable, including Lenders’ Expenses, if any, Expenses and interest at the Default Rate with respect to any past due amounts.” 2.3 3.3 Section 2.5 2.6(h) (Fees). Sections 2.5(d)-(eNew Section 2.6(h) of hereby is added to the Loan Agreement are hereby amended and restated and replaced to read as follows:

Appears in 1 contract

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

Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least ten seven (107) days Business Days prior to such prepayment, and (ii) pays to the 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 Loans plus accrued but and unpaid interest thereon through the prepayment date, (B) the Final Payment, plus (C) the Prepayment Fee, (D) the Termination Fee, plus (E) all other sums, Obligations that shall have become are due and payable hereunder but have not been paidpayable, including Lenders’ Expenses, if any, Expenses and interest at the Default Rate with respect to any past due amounts.” 2.3 Section 2.5 (Fees). Sections 2.5(d)-(e) of the Loan Agreement are hereby amended and restated and replaced as follows:

Appears in 1 contract

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

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Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Collateral Agent of its election to prepay the Term Loans at least ten five (105) days Business Days prior to such prepayment, and (ii) pays to the 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 Loans plus accrued but and unpaid interest thereon through the prepayment date, (B) the Final PaymentFee, plus subject to the proviso set forth in the definition of “Final Fee,” (C) the Prepayment Fee, subject to the proviso set forth in the definition of “Prepayment Fee,” plus (D) all other sums, Obligations that shall have become are due and payable hereunder but have not been paidpayable, including including, without limitation, Lenders’ Expenses, if any, Expenses and interest at the Default Rate with respect to any past due amounts.” 2.3 Section 2.5 (Fees). Sections 2.5(d)-(e) of the Loan Agreement are hereby amended and restated and replaced as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Transenterix Inc.)

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