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 and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate (unless waived or reduced by the Required Lenders in their sole discretion) with respect to any past due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (Durect Corp), Loan and Security Agreement (Durect Corp)

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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 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 and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Unused Fee, (D) the Prepayment Fee, plus (DE) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate (unless waived or reduced by the Required Lenders in their sole discretion) with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Kura Oncology, 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 (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 and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including reasonable documented out-of-pocket Lenders’ Expenses and interest at the Default Rate (unless waived or reduced by the Required Lenders in their sole discretion) with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Esperion Therapeutics, 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 (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 and but unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment FeeUnaccrued Final Payment, plus (D) all other Obligations sums, that are shall have become due and payablepayable hereunder but have not been paid, including Lenders’ Expenses Expenses, if any, and interest at the Default Rate (unless waived or reduced by the Required Lenders in their sole discretion) with respect to any past due amounts.

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 prior to such prepaymentprepayment (or such shorter period of time as Collateral Agent may agree in its reasonable discretion), 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 and unpaid interest thereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other Obligations that are due and payable, including Lenders’ Expenses and interest at the Default Rate (unless waived or reduced by the Required Lenders in their sole discretion) with respect to any past due amounts.

Appears in 1 contract

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

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