Common use of Permitted Prepayment Clause in Contracts

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances, provided Borrower (i) delivers written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five (5) days prior to such prepayment, and (ii) pays to Agent and each Term Loan Lender, as applicable, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

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

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Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five (5) days Business Days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment PremiumFinal Payment, (C) the Term Loan Final Payment Prepayment Premium and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advances, 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 (Social Capital Suvretta Holdings Corp. I), Loan and Security Agreement (Social Capital Suvretta Holdings Corp. I)

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five ten (510) days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment Payment, and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advancespayable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Taysha Gene Therapies, Inc.)

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvance advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances Advance at least five (5) days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advancespayable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

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

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five (5) days Business Days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advanceshereunder, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

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

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five (5) days Business Days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment Payment, and (D) all other sums, if any, that shall have become due and payable hereunder in connection with respect to the Term Loan Advances, including Lenders' Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Mezzanine Loan and Security Agreement (Nebula Caravel Acquisition Corp.)

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five thirty (530) days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advancespayable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Alpha Healthcare Acquisition Corp.)

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five ten (510) days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment (A) all the outstanding principal of the Term Loan Advances plus accrued and unpaid interest with respect to the Term Loan Advancesthereon, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advancespayable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Alx Oncology Holdings Inc)

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Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five ten (510) days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advancespayable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Eloxx Pharmaceuticals, Inc.)

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan AdvancesAdvances advanced by the Lenders under this Agreement, provided Borrower (i) delivers provides written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five ten (510) days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advancesinterest, (B) the Term Loan Prepayment Premium, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advancespayable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Inmune Bio, Inc.)

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances, provided Borrower (i) delivers written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advances at least five ten (510) days Business Days prior to such prepayment, and (ii) pays to Agent and each Term Loan LenderAgent, as applicablefor the account of the Lenders in accordance with their respective Pro Rata Shares, on the date of such prepayment (A) all the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (B) the Term Loan Prepayment PremiumFee, (C) the Term Loan Final Payment and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advances, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

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

Permitted Prepayment. Borrower shall have the option to prepay allin whole or in part, but not less than all, of the Term Loan AdvancesAdvance, provided Borrower (i) delivers written notice to Agent and each Term Loan Lender Bank of its election to prepay the Term Loan Advances Advance at least five (5) days Business Days prior to such prepaymentprepayment (which notice may be conditioned upon the consummation of another financing or other events), and (ii) pays to Agent and each Term Loan Lender, as applicablepays, on the date of such prepayment (A) all the outstanding principal plus accrued and unpaid interest with respect to the Term Loan AdvancesAdvance, (B) the Term Loan Prepayment PremiumFee, (C) the Term Loan Final Payment Payment, and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan AdvancesAdvance, including interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Savara Inc)

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