Prepayment and Conversion. Upon the Required Number of days written notice to the Administrative Agent, the Borrower may, without the payment of penalty or premium, prepay the principal of the Loans or voluntarily convert the applicable Floating Rate of any Loan prior to the termination of the applicable Interest Period in whole or in part, from time to time. Any partial payment or conversion of ABR Loans shall be made in the sum of not less than $1,000,000, and any partial payment or conversion of LIBOR Loans shall be made in the sum of not less than $1,000,000 or any $1,000,000 increment in addition thereto. With respect to any such prepayment or conversion of any LIBOR Loan the Borrower agrees to pay to the Banks upon the request of the Administrative Agent such amount or amounts as will compensate the Banks for Breakage Costs, excluding, however, any such Breakage Costs resulting from a payment or prepayment made more than sixty (60) days prior to the Administrative Agent's request for payment of Breakage Costs. The payment of any such Breakage Costs to the Banks shall be made within thirty (30) days of a request therefor from Administrative Agent. If LIBOR cannot be determined on the date of such prepayment, the Administrative Agent shall calculate LIBOR by interpolating LIBOR in effect immediately prior to the prepayment and LIBOR in effect immediately after the prepayment.
Prepayment and Conversion. Upon the Required Number of days notice to the Bank, the Borrower may: (a) without the payment of penalty or premium, prepay the principal of the Loans, or (b) voluntarily convert the applicable Interest Rate of any Loan prior to the termination of the applicable Interest Period in whole or in part, from time to time; any partial payment or conversion to be made in the sum of not less than $500,000 or any $100,000 increment in addition thereto; provided that with respect to any such prepayment or conversion of any Loan upon which interest is being calculated at the LIBOR Rate the Borrower shall reimburse the Bank on demand for any costs, including administrative costs, incurred by the Bank as a result of such prepayment or conversion and any loss incurred or to be incurred by the Bank in the redeployment of the funds released by any such prepayment. Such loss shall be the difference, as reasonably determined by Bank, between (i) Bank's gross return hereunder with respect to that portion of the Loans which is prepaid, based on the applicable Interest Rate for such portion of the Loans and (ii) any lesser amount realized by Bank in deploying the funds received in repayment, or otherwise realized from that portion of the Loans so prepaid, during the period from the date of the prepayment until the end of the Interest Period for that portion of the Loans prepaid; provided that Bank shall use its best efforts to redeploy such funds in a commercially reasonable manner.
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Prepayment and Conversion. In addition to the Borrower's rights under Section 4.2, if any notification of a Compensating Amount is given under Section 6.2 in respect of any Advance, then the Borrower may, by written notice to the Lender given within thirty Business Days next following the date of the notification, elect to prepay such Advances (in the case of Outstanding Principal Obligations in respect of any BA Advance, discounted for the period to the maturity of the Bankers' Acceptances outstanding in respect of such BA Advance at the Canada Treasury Xxxx Rate for such discount calculation period in effect on the date of such prepayment) or to convert all such Advances to any other Type of Advance, but should it do so the Borrower shall pay to the Lender all interest accrued to the date of such prepayment on the Advances so prepaid and on demand all such amounts as are required to compensate the Lender for (a) any Compensating Amount payable pursuant to Section 6.2, and (b) any additional amounts payable pursuant to Section 11.7.
Prepayment and Conversion. If any notification of a Compensating Amount is given by any Lender under Section 6.2 in respect of any Advance, then the Borrower may, by written notice to the Agent given within five (5) days of the date of the notification, elect to either: prepay such Advance; or convert such Advance to another Type of Advance, but should it do so the Borrower shall pay to the Agent for the account of such Lender all interest accrued to the date of such prepayment on such Advance and on demand all such amounts as are required to compensate such Lender for
(a) any Compensating Amount payable pursuant to Section 6.2, and (b) any additional amounts payable pursuant to Section 12.6, provided that any such prepayment of the Outstanding Principal Obligations in respect of any BA Instrument shall be made by the Borrower defeasing such BA Instrument by irrevocably paying to the Agent the amount obtained by discounting the Face Amount of such BA Instrument from the maturity date of such BA Instrument using a discount rate, determined by the Agent, equal to the yield to maturity of Government of Canada treasury bills with remaining terms to maturity comparable to the term to maturity of such BA Instrument.
Prepayment and Conversion. Upon the Required Number of days notice to the Bank, the Borrower may: (a) without the payment of penalty or premium, prepay the principal of the Loans, or (b) voluntarily convert the applicable Interest Rate of any Loan prior to the termination of the applicable Interest Period in whole or in part, from time to time; any partial payment or conversion to be made in the sum of not less than $500,000 or any $100,000 increment in addition thereto; provided that with respect to any such prepayment or conversion of any Loan upon which interest is being calculated at the LIBOR Rate the Borrower shall reimburse the Bank on demand for any costs, including administrative costs, incurred by the Bank as a result of such prepayment or conversion and any loss incurred or to be incurred by the Bank in the redeployment of the funds released by any such prepayment. Such loss shall be the difference, as reasonably determined by Bank, between (i) Bank's gross return hereunder with respect to that portion of the Loans which is prepaid, based on the applicable Interest Rate for such
Prepayment and Conversion. When a Compensating Amount is payable to a Lender, the Borrower shall have the right, upon at least three Business Days’ prior written notice to the Agent (unless provided otherwise below), to either:
(a) obtain a different Type of Advance in lieu of an affected Advance in accordance with and subject to the provisions hereof; or
(b) prepay such Xxxxxx's affected Advances together with:
(i) accrued interest;
(ii) such Compensating Amount as may be applicable to the date of such payment;
(iii) in the case of LIBOR Loans, all costs, losses, premiums and expenses incurred by such Lender by reason of the liquidation or re-deployment of deposits or other funds or for any other reason whatsoever resulting from the repayment of such affected Advances on other than the last day of the applicable Interest Period;
(iv) in the case of Bankers' Acceptances accepted by such Lender, such amount as such Lender may, in its discretion, require be deposited with such Lender equal to the Face Amount of such Bankers' Acceptances; and
(v) in the case of Letters of Credit, provision satisfactory to such Lender (acting reasonably) being made for the indemnification, cash collateralization or release of such Lender from its obligations relating to all outstanding Letters of Credit. Any action undertaken by the Borrower as contemplated by the immediately preceding paragraph need not be pro rata as among the Lenders under the relevant Credit Facility.
Prepayment and Conversion. (a) At any time after the first anniversary of the date hereof that the price per share of the Company's common stock, $0.01 par value per share (the "Common Stock"), as reported by the Nasdaq Stock Market (or if the Common Stock is not then trading on the Nasdaq Stock Market, the price per share of the Common Stock as reported on such other national securities exchange on which the Common Stock is then listed for trading), equals or exceeds Fifteen Dollars ($15.00) (the "Trigger Price"), the Company may, by written notice to the Holder, either:
(i) declare that all unpaid principal of, and accrued interest on, this Note shall, effective on the date of the written notice, with no further action of the Company or Holder, be converted into the right to receive fully paid and nonassessable shares of the Common Stock, computed to the nearest whole share, at the Conversion Price (as defined Article 1(c)) in effect as of the date of such written notice, or
(ii) prepay this Note, or any portion thereof, at any time and without premium or penalty, provided, however, that no prepayment shall be effective until after the expiration of thirty (30) days after the Company has notified the Holder of its intent to prepay the Note, and Holder has not elected pursuant to Article 1(b) to convert this Note into shares of Common Stock.
(b) At any time after the date hereof, the Holder may, by written notice to the Company, declare that all unpaid principal of, and accrued interest on, this Note shall, effective on the date of the written notice, with no further action of the Company or Holder, be converted into the right to receive fully paid and nonassessable shares of the Common Stock, computed to the nearest whole share, at the Conversion Price in effect as of the date of such written notice.
(c) This Note shall be convertible as provided in Article 1(a) or (b) at the rate per share (the "Conversion Price"), equal to $10.37, subject to adjustment as provided in Article 1(d). In the event of any such conversion, the Holder shall surrender this Note to the Company at its then principal offices. Upon such surrender of the Note, the Company shall as promptly as practicable deliver to Holder certificates evidencing the shares of Common Stock into which the Note has been converted. No fractional shares or scrip representing fractional shares will be issued, and the Company shall pay to the Holder in cash or by check that amount representing any such fractional amount. The Compan...
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Prepayment and Conversion. The Debentures may be prepaid at any time prior to their maturity, upon fifteen days’ notice to the Holders, during which fifteen days (the “Prepayment Notice Period”), any Holders may elect to convert his or her Debenture’s principal and accrued interest, in whole, into fully paid and non-assessable shares of common stock of the Company at a per share price of thirty cents ($0.30) (the “Conversion Price”). Any Holder may also elect to convert his or her Debenture’s principal and accrued interest at maturity into fully paid and non-assessable shares of common stock of the Company at the Conversion Price, by providing notice of such election to the Company fifteen days prior to maturity. The Debentures may only be converted during the Prepayment Notice Period and at maturity. Any Holder who elects to convert his or her Debentures into common stock shall be entitled to receive, for three years after such conversion, such Holder’s pro rata share of $.25 for each monthly subscription payment received by the Company during the preceding quarter, based on Holder’s percentage of ownership of the $3,000,000 in Debentures offered in the Memorandum (the “Pro Rata Basis”). Holders who elect for repayment of their Debenture shall not be entitled to receive further payments from the Company related to their repaid Debentures.
