Prepayment mechanism. Any prepayment pursuant to Clause 23.2 (Provision of additional security; prepayment) shall be made in accordance with the relevant provisions of Clause 7 (Prepayment and Cancellation), and each such prepayment shall reduce each Tranche pro rata by reducing the Repayment Instalments and the Balloon Instalment in respect of that falling after such prepayment on a pro rata basis by the amount prepaid.
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Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Prepayment mechanism. Any prepayment pursuant to Clause 23.2 24.2 (Provision of additional security; prepayment) shall be made in accordance with the relevant provisions of Clause 7 (Prepayment and Cancellation), and each such prepayment shall reduce each Tranche pro rata by reducing the Repayment Instalments and the Balloon Instalment in respect of that falling after such prepayment on a pro rata basis by the amount prepaid.
Appears in 2 contracts
Samples: Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Prepayment mechanism. Any prepayment pursuant to Clause 23.2 24.2 (Provision of additional security; prepayment) shall be made in accordance with the relevant provisions of Clause 7 (Prepayment and Cancellation), and each such prepayment shall reduce each Tranche pro rata by reducing the Repayment Instalments and the Balloon Instalment in respect of that falling after such prepayment on a pro rata basis by the amount prepaid.
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Prepayment mechanism. Any prepayment pursuant to Clause 23.2 24.3 (Provision of additional security; prepayment) shall be applied pro rata against the scheduled Repayment Instalments under all Facilities on a pro rata basis, including the Balloons, as set out in Clause 6.1 (Repayment of Advances) and otherwise be made in accordance with the relevant provisions of Clause 7 7.9 (Prepayment and CancellationRestrictions), and each such prepayment shall reduce each Tranche pro rata by reducing the Repayment Instalments and the Balloon Instalment in respect of that falling after such prepayment on a pro rata basis by the amount prepaid.
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Prepayment mechanism. Any prepayment pursuant to Clause 23.2 25.2 (Provision of additional security; prepayment) shall be made in accordance with the relevant provisions of Clause 7 (Prepayment and Cancellation), and each such prepayment shall reduce each Tranche pro rata by reducing the Repayment Instalments and the Balloon Instalment in respect of that Tranche falling after such prepayment on a pro rata basis by the amount prepaid.
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