Permitted Prepayments. Except as set forth in Section 3.3(d), the Borrowers may prepay, without penalty or premium, not later than 12:00 noon (Cleveland, Ohio time): (i) in the case of any LIBOR Loan, upon at least three (3) Banking Days’ notice to the Agent prior to the date fixed for such prepayment; and (ii) in the case of any Prime Rate Loan, upon notice to the Agent not later than 12:00 noon (Cleveland, Ohio time) on the date fixed for such prepayment, in each case stating the proposed date and aggregate principal amount of the prepayment, and, upon such notice, shall prepay the outstanding aggregate principal amount of the Revolving Credit Loans comprising part of the same Revolving Credit Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (A) each partial prepayment of LIBOR Loans shall be in an aggregate principal amount of Three Million Dollars ($3,000,000) or additional increments of One Million Dollars ($1,000,000) in excess thereof, and (B) each partial prepayment of Prime Rate Loans shall be in an aggregate principal amount of Five Hundred Thousand Dollars ($500,000) or additional increments of One Hundred Thousand Dollars ($100,000) in excess thereof. Any prepayment of any LIBOR Loans made on other than the last day of an Interest Period shall obligate the Borrowers to reimburse the Lenders in respect thereof pursuant to Section 3.3(d). Upon receipt by the Agent of a notice pursuant to this Section 3.3(b), the Agent shall promptly forward a copy of such notice, by telecopier or email in the case of a prepayment of LIBOR Loans comprising Revolving Credit Borrowing, to each of the Lenders.
Permitted Prepayments. The Borrower may at any time make a prepayment of all or a portion of the principal amount of the Note then outstanding (a "Permitted Prepayment") at a prepayment price equal to the portion of the outstanding principal amount of the Note to be prepaid plus
Permitted Prepayments. 18 Section 3.3 Place of Payment or Prepayment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 SECTION 4 APPLICATION OF PROCEEDS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Section 4.1 Use of Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Permitted Prepayments. (a) The principal balance of the Note may not be prepaid in whole or in part except as otherwise expressly permitted in this Agreement.
(b) Borrower shall partially prepay the Loan in connection with the sale of Units and/or grants of parking licenses as provided in Section 4.1.40(i) hereafter and Borrower shall be required to pay all other sums due hereunder with respect to the sale of Units and/or grant of parking licenses.
(c) No principal amount repaid may be reborrowed.
(d) Borrower agrees to indemnify and hold Lender harmless from and against all actual loss, cost or expense which Lender may sustain or incur as a consequence of (i) default by Borrower in prepayment of the Loan and accrued interest thereon after having given notice that prepayment will occur on a Monthly Payment Date, including, but not limited to, any such actual loss or expense arising from interest or fees payable by Lender to lenders of funds obtained by it in order to make or maintain the Loan, and all such sums shall be deemed Obligations secured by said mortgage; or (ii) payment upon acceleration or otherwise of any portion of the Loan on a date which is not the last day of an Interest Period. This indemnification shall survive the payment of the outstanding principal sum of the Loan. The certificate of Lender as to any additional amounts payable pursuant to this clause (d) shall, absent manifest error, be final, conclusive and binding upon Borrower. Notwithstanding the foregoing, if Net Sale Proceeds are received by Lender on a date other than a Monthly Payment Date such Net Sale Proceeds shall be held by Lender as collateral security for the Loan in an interest bearing account, with such interest accruing to the benefit of Borrower, and shall be applied by Lender on the next Monthly Payment Date.
(e) If the Loan shall become payable in full due to the occurrence of an Event of Default or any other event giving rise to the Lender’s right to accelerate payment pursuant to the Loan Documents, then Borrower shall pay Lender a prepayment charge as calculated below with respect to that portion of the indebtedness being prepaid or paid, as the case may be: (1) a prepayment charge equal to an amount representing the present value (if such sum was invested in United States Treasury obligations) of the difference between (A) the yield which would have resulted through the last day of the then current Interest Period had the indebtedness not been prepaid and (B) the yield which would ha...
Permitted Prepayments. The Borrower may prepay all or any part of Revolving Credit Loans by giving notice to the Agent for the account of the Banks stating the proposed date of prepayment, the Type of Borrowing being prepaid and the aggregate principal amount of the prepayment not later than 12:00 noon (Cleveland, Ohio time) on the Business Day immediately preceding the Business Day on which such prepayment is to be made. Upon such notice, the Borrower shall: (A) in respect of Alternate Base Rate Loans comprising part of the same Revolving Credit Borrowing, prepay the outstanding aggregate principal amount thereof in whole or ratably in part and (B) in respect of LIBOR Rate Loans comprising part of the same Revolving Credit Borrowing, prepay the outstanding aggregate principal amount thereof in whole and the interest accrued to the date of such prepayment on the principal amount of such Borrowing so prepaid; provided, however, that: (I) each partial prepayment of Alternate Base Rate Loans shall be (x) in an aggregate principal amount of One Hundred Thousand Dollars ($100,000) or any multiple thereof or (y) in an amount equal to the aggregate principal amount of Alternate Base Rate Loans then outstanding, (II) each partial prepayment of LIBOR Rate Loans shall be (a) in an aggregate principal amount not less than One Million Dollars ($1,000,000), or an integral multiple of One Hundred Thousand Dollars ($100,000) in excess thereof or (b) in an amount equal to the aggregate principal amount of LIBOR Rate Loans then outstanding, and (III) any prepayment of any LIBOR Rate Loans made on other than the last day of an Interest Period shall obligate the Borrower to reimburse the Bank in respect thereof pursuant to Section 0 of this Agreement.
Permitted Prepayments. Provided Maker is not in default under this Note or under any other document relating to or executed in connection with this Note (collectively, the "Documents"), the principal amount of this Note or any other amounts owed under this Note at any time, and from time to time, may be prepaid in whole or in part, together with interest accrued thereon to the date of such prepayment, without premium, upon not less than ten (10) days' prior written notice to the Holder at the place of payment designated above.
Permitted Prepayments. The Maker may, upon at least thirty (30) days' notice to the Holder, stating the proposed date of the prepayment, which date shall be only upon the last day of the then current Interest Period (the "Noticed Prepayment Date") and the portion of the Principal Balance that will be prepaid (the "Prepayment Amount"), and, if such notice is given, the Maker shall on the Noticed Prepayment Date, prepay the Prepayment Amount, in whole and not in part, together with accrued interest to the date of such prepayment.
Permitted Prepayments. 23 (f) Extension of Commitment Period....................................................... 23 2.7 Rate Conversion and Rate Continuation......................................................... 24 2.8
Permitted Prepayments. Any time and from time to time:
(i) with respect to Base Rate Advances, the Borrower may prepay any such Loans on any Business Day in whole or in part without premium or penalty except as set forth in Section 2.4(c), in minimum amounts of $250,000 and integral multiples of $100,000 in excess of that amount (or such lesser amount if the outstanding amount of such Advances is less than the foregoing thresholds);
(ii) with respect to LIBORSOFR Advances, the Borrower may prepay any such Loans on any Business Day in whole or in part without premium or penalty, subject to Section 2.11 and except as set forth in Section 2.4(c), in minimum amounts of $250,000 and integral multiples of $100,000 in excess of that amount (or such lesser amount if the outstanding amount of such Advances is less than the foregoing thresholds); and
(iii) anything in this Agreement to the contrary notwithstanding, prepayments of Incremental Facility Loans shall be subject to the terms of the related Notice of Incremental Facility Commitment.
Permitted Prepayments. (a) Borrower shall be prohibited from prepaying the Loan, in whole or in part, until the Maturity Date (the “Lockout Period”); provided, however, that in the event a Permitted Disposition occurs under clauses (B) or (C) of such defined term, partial prepayments of the Loan shall be permitted in accordance with Section 2.3.1 and 2.4.2.
(b) OTHER THAN AS SET FORTH IN THIS SECTION 2.4.1, BORROWER HEREBY EXPRESSLY (i) WAIVES ANY RIGHTS IT MAY HAVE UNDER LAW TO PREPAY THE LOAN AND THE NOTE, IN WHOLE OR IN PART, PRIOR TO THE EXPIRATION OF THE LOCKOUT PERIOD, AND (ii) AGREES THAT IF, FOR ANY REASON, A PREPAYMENT OF ALL OF ANY PORTION OF THE PRINCIPAL AMOUNT OF THE LOAN IS MADE PRIOR TO THE EXPIRATION OF THE LOCKOUT PERIOD, INCLUDING UPON OR FOLLOWING ANY ACCELERATION OF THE MATURITY DATE BY LENDER ON ACCOUNT OF ANY EVENT OF DEFAULT, INCLUDING ANY TRANSFER PROHIBITED OR RESTRICTED BY THE LOAN DOCUMENTS, THEN BORROWER SHALL BE OBLIGATED TO PAY CONCURRENTLY WITH SUCH PREPAYMENT THE GREATER OF 3% OF THE PREPAYMENT SUM AND THE YIELD MAINTENANCE PAYMENT (THE “PREPAYMENT DEFAULT SUM”). BORROWER HEREBY DECLARES THAT (1) EACH OF THE FACTUAL MATTERS SET FORTH IN THIS PARAGRAPH IS TRUE AND CORRECT, (2) LENDER’S AGREEMENT TO MAKE THE LOAN AT THE INTEREST RATE AND FOR THE TERM SET FORTH IN THIS AGREEMENT CONSTITUTES ADEQUATE CONSIDERATION FOR THIS WAIVER AND AGREEMENT, AND HAS BEEN GIVEN INDIVIDUAL WEIGHT BY BORROWER AND LENDER, (3) BORROWER IS A SOPHISTICATED AND KNOWLEDGEABLE REAL ESTATE INVESTOR WITH COMPETENT AND INDEPENDENT LEGAL COUNSEL, AND (4) BORROWER FULLY UNDERSTANDS THE EFFECT OF THIS WAIVER AND AGREEMENT.
