Prepayment of LIBOR Loans. Each Borrower agrees, severally but not jointly, that in the event that such Borrower prepays or is required to prepay any LIBOR Loan by acceleration or otherwise or fails to draw down or convert to a LIBOR Loan after giving notice thereof, it shall reimburse each Lender for its funding losses due to such prepayment or failure to draw. Borrowers and Lenders hereby agree that such funding losses shall consist of the sum of the discounted monthly differences for each month during the applicable or requested Interest Period, calculated as follows for each such month:
(a) Principal amount of such LIBOR Loan times (number of days between the date of prepayment and the last day in the applicable Interest Period divided by 360), times the applicable Interest Differential, plus
(b) All actual out-of-pocket expenses (other than those taken into account in the calculation of the Interest Differential) incurred by Lenders and Agent (excluding allocation of any expense internal to Lenders and Agent) and reasonably attributable to such payment, prepayment or failure to draw down or convert as described above; provided that no prepayment fee shall be payable (and no credit or rebate shall be required) if the product of the foregoing formula is not a positive number.
Prepayment of LIBOR Loans. Notwithstanding anything to the contrary contained in any Note or in any other agreement executed in connection herewith or therewith, the Borrower shall be permitted to prepay any portion of the Loans constituting Libor Loans only in accordance with SECTION 2.9 hereof.
Prepayment of LIBOR Loans. The following provisions of this (S)1.7 ------------------------- shall be effective only with respect to LIBOR Loans: The Borrower shall pay to the Bank, upon request of the Bank, such amount or amounts as shall be sufficient (in the reasonable opinion of the Bank) to compensate it for any loss, cost or expense incurred as a result of: (i) any payment of a LIBOR Loan on a date other than the last day of the Interest Period for such LIBOR Loan; (ii) any failure by the Borrower to borrow a LIBOR Loan on the date specified in any LIBOR Loan Notice; and/or (iii) any failure by the Borrower to pay a LIBOR Term Loan on the date for payment specified in any notice given as to any prepayment. Without limiting the foregoing, if, due to acceleration of the Term Note or due to voluntary prepayment or mandatory repayment or prepayment or due to any other reason, the Bank receives payment of any principal of a LIBOR Loan on any date prior to the last day of the relevant Interest Period or if for any reason any LIBOR Loan is converted to a Floating Rate Loan prior to the expiration of the relevant Interest Period, the Borrower shall, upon demand and receipt of a Bank Certificate from the Bank with respect thereto, pay forthwith to the Bank a yield maintenance fee in an amount computed as follows: The current rate for United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the last day of the Interest Period applicable to the affected LIBOR Loan shall be subtracted from the "cost of funds" component (i.e., reserve-adjusted LIBOR) of the LIBOR ---- Interest Rate in effect with respect to the relevant LIBOR Loan at the date of such prepayment or conversion. If the result is zero or a negative number, there shall be no yield maintenance fee. If the result is a positive number, then the resulting percentage shall be multiplied by the amount of the principal balance being prepaid. The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the relevant Interest Period. Said amount shall be reduced to present value calculated by using the number of days remaining in the relevant Interest Period and by using the above-referenced United States Treasury securities rate as the discount rate. The resulting amount shall be the yield maintenance fee due to the Bank upon prepayment or conversion of the applicable LIBOR Loan. Any acceleration of a LIBOR Loan due to an Eve...
Prepayment of LIBOR Loans. 26 2.12 Prepayment of Base Rate Loans..........................27 2.13
Prepayment of LIBOR Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.4.; provided that, so long as no Default or Event of Default shall have occurred and be continuing, if any prepayment of LIBOR Loans is required to be made under this Section 2.9.(b) prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.9.(b) in respect of any such LIBOR Loan prior to the last day of the Interest Period therefor, the Company may, in its sole discretion, deposit an amount sufficient to make any such prepayment otherwise required to be made thereunder together with accrued interest to the last day of such Interest Period into an account held at, and subject to the sole control of, the Administrative Agent until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.9.(b). Upon the occurrence and during the continuance of any Default or Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with the relevant provisions of this Section 2.9.(b).
Prepayment of LIBOR Loans. Notwithstanding anything to ------------- ------------------------- the contrary contained in any Note or in any other agreement executed in connection herewith or therewith, the Borrower shall be permitted to prepay any portion of the Loans constituting Libor Loans only in accordance with Section 2.9 hereof. -----------
Prepayment of LIBOR Loans. Borrower agrees that in the event that Borrower prepays or is required to prepay any LIBOR Loan by acceleration or otherwise or fails to draw down or convert to a LIBOR Loan after giving notice thereof, it shall reimburse each Lender for its funding losses due to such prepayment or failure to draw. Borrower and Lenders hereby agree that such funding losses shall consist of the sum of the discounted monthly differences for each month during the applicable or requested Interest Period, calculated as follows for each such month:
Prepayment of LIBOR Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of any LIBOR Rate Loans, as a whole or in part, at any time, provided that any full or partial prepayment of the outstanding amount of any LIBOR Rate Loans pursuant to this Section 3.3.2 made on any day other than the last day of the Interest Period relating thereto shall be accompanied by tender of all costs incurred by the Bank Agents and the Banks as a result thereof, including reasonable costs of redeployment of funds. The Borrower shall give the Agent, no later than 11:00 a.m., California time, at least three (3) LIBOR Business Days' notice of any proposed prepayment pursuant to this Section 3.3.2 of LIBOR Rate Loans, specifying the proposed date of prepayment and the principal amount to be prepaid. Each such prepayment of the LIBOR Rate Loans shall be in an integral multiple of $500,000, shall be accompanied by the payment of costs, as described in this Section 3.3.2, and of accrued but unpaid interest on the principal prepaid to the date of prepayment. Each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion.
Prepayment of LIBOR Loans. Borrower agrees that in the event that Borrower prepays or is required to prepay any LIBOR Loan by acceleration or otherwise or fails to draw down or convert to a LIBOR Loan after giving notice thereof, it shall reimburse each Lender for its funding losses due to such prepayment or failure to draw. Borrower and Lenders hereby agree that such funding losses shall consist of the sum of the discounted monthly differences for each month during the applicable or requested Interest Period, calculated as follows for each such month:
(a) Principal amount of such LIBOR Loan times (number of days between the date of prepayment or failure to draw and the last day in the applicable Interest Period divided by 360), times the applicable Interest Differential, plus
(b) All actual out-of-pocket expenses (other than those taken into account in the calculation of the Interest Differential) incurred by Lenders and Agent (excluding allocation of any expense internal to Lenders and Agent) and reasonably attributable to such payment, prepayment or failure to draw down or convert as described above; provided that no prepayment fee shall be payable (and no credit or rebate shall be required) if the product of the foregoing formula is not a positive number.
Prepayment of LIBOR Loans. The following provisions ------------------------- shall be effective as to any LIBOR Loan: If, due to acceleration of the maturity of the Notes or due to optional prepayment or for any other reason, the Bank receives payment of any installment of principal of any LIBOR Loan on any date prior to the last day of the then-current Interest Period applicable thereto, the Borrower shall, upon demand and receipt of a Bank Certificate from the Bank with respect thereto, pay forthwith to the Bank any amounts required to compensate the Bank for any losses, costs or expenses which it may have incurred and may reasonably incur as a result of such payment, including, without limitation, any loss or expense incurred by reason of the liquidation or redeployment of funds acquired by the Bank to fund or maintain such LIBOR Loan.
