Prepayment Agreement Clause Samples

Prepayment Agreement. In the event that this Agreement and the Master Export Contract become subject to termination as provided in the preceding clause (a), on the next succeeding Business Day Petrobras shall pay to Petrobras Finance the Termination Payment directly into the Purchased Receivables Account. If the Trustee informs Petrobras that such Purchased Receivables Account has been replaced by another account, Petrobras shall deposit the Termination Payment into such other account as designated by the Trustee.

Prepayment Agreement. Upon approving an application for prepayment under this subpart, the Ad- ministrator shall notify the borrower and deliver to the borrower for its exe- cution a prepayment agreement which shall set forth and provide:

Prepayment Agreement. Notwithstanding anything to the contrary in this Agreement, the parties hereby agree that (x) from and after the execution and delivery of the Prepayment Agreement and until the termination of the Prepayment Agreement, all amounts payable by United pursuant to Section 2.5(d) and pursuant to Section 3.6 for the services rendered by Contractor under this Agreement shall be reduced by an amount equal to the Discounted Amount (as defined below), and (y) United shall not have any obligation to make any payment to Contractor or Parent whatsoever pursuant to this Agreement until the Prepayment Balance Amount (as defined in the Prepayment Agreement) has been reduced to [***] pursuant to the terms and conditions set forth in the Prepayment Agreement. As used herein, the “Discounted Amount” means, as of any date any amount is payable by United pursuant to Section 2.5(d) or Section 3.6, an amount equal to the product of (i) the Prepayment Balance Amount (as defined in the Prepayment Agreement) as of such date, multiplied by (ii) the Applicable Discount Rate (as defined below) as of such date, multiplied by (iii) by the lesser of (A) the number of days that have elapsed since the last payment required to be made pursuant to Section 3.6(c)(i) and (B) the number of days that have elapsed since the execution and delivery of the Prepayment Agreement. As used herein, the “Applicable Discount Rate” means, as of any date of determination, the quotient obtained by dividing (A) an amount equal to either (I) if such date of determination occurs during the first [***] calendar days following the execution and delivery of the Prepayment Agreement, [***], or (II) if such date of determination occurs thereafter, [***], by (B) [***]; provided, however, that, as applicable, if United elects for clause (i) of Section 2.4(d) of the Prepayment Agreement, then the Applicable Discount Rate shall automatically be increased to the quotient obtained by dividing [***]; and provided further, however, that, if all remaining portions of the CARES Act Loan (as defined in the Prepayment Agreement) are not fully funded on or before the Specified Closing Date (as defined in the Prepayment Agreement), then, subject to the immediately preceding proviso, the Applicable Discount Rate shall automatically be increased to the quotient obtained by dividing [***] until the earlier to occur of (x) the termination of the Prepayment Agreement and (y) the date that the aggregate amount funded under the CARES Act...

Prepayment Agreement. Borrower shall have delivered to the Administrative Agent a summary of the principal terms and conditions of the Prepayment Agreement (as defined in Exhibit A hereto).