Prepayment of LIBOR Rate Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.9; provided that, so long as no Default or Event of Default shall have occurred and be continuing, if any prepayment of LIBOR Rate Loans is required to be made under this Section 4.4(b) prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 4.4(b) in respect of any such LIBOR Rate Loan prior to the last day of the Interest Period therefor, the Borrower 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 Borrower or any other Credit Party) to apply such amount to the prepayment of such Term Loans in accordance with this Section 4.4(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 Borrower or any other Credit Party) to apply such amount to the prepayment of the outstanding Term Loans in accordance with the relevant provisions of this Section 4.4(b).
Prepayment of LIBOR Rate Loans. Provided that so long as no Event of Default is in existence to the extent that any such prepayment would create funding losses under Section 2.19, the portion of such payment that would cause such funding losses shall not be due and payable until the earliest date on which no funding losses would occur as a result of such payment (without giving effect to any continuation or conversion of any Loan).
Prepayment of LIBOR Rate Loans. If (i) Borrower pays, in whole or in part, any LIBOR Rate Loan, before the expiration of its respective Interest Rate Period, (ii) fails to draw down, in whole or in part, a LIBOR Rate Loan after giving a Request therefor, (iii) otherwise tries to revoke any LIBOR Rate Loan, in whole or in part, or (iv) there occurs a Bankruptcy Event or the applicable rate is converted from the LIBOR Rate to the Base Rate pursuant to Section 4(d), then Borrower shall be liable for and shall pay the Bank, on demand, the higher of $250.00 or the actual amount of the liabilities, expenses, costs or funding losses that are a direct or indirect result of such prepayment, failure to draw, early termination of an Interest Period, revocation, bankruptcy or otherwise, whether such liability, expense, cost or loss is by reason of (a) any reduction in yield, by reason of the liquidation or reemployment of any deposit or other funds acquired by the Bank, (b) the fixing of the interest rate payable on any LIBOR Rate Loans or (c)otherwise. The determination by the Bank of the amount of foregoing amount shall, in the absence of manifest error, be conclusive and binding upon Borrower.
Prepayment of LIBOR Rate Loans. Any prepayment of a LIBOR Rate Loan by the Borrower on any day other than on the last day of the Interest Period applicable thereto shall be subject to the terms of Section 5.9 hereof.
Prepayment of LIBOR Rate Loans. If a LIBOR Rate Loan is prepaid prior to the end of the applicable Loan Period, whether voluntarily or because prepayment is required due to the Revolving Loans maturing, acceleration of the Revolving Loans upon an Event of Default, or otherwise, the Borrower shall pay all of the Bank’s costs, expenses, and Interest Differential (as determined by the Bank) incurred as a result of such prepayment. The term “Interest Differential” means the greater of zero and the financial loss incurred by the Bank resulting from prepayment, calculated as the difference between the amount of interest the Bank would have earned (from like investments in the Money Markets as of the first day of the LIBOR Rate Loan) had prepayment not occurred and the interest the Bank will actually earn (from like investments in the Money Markets as of the date of prepayment) as a result of the redeployment of funds from the prepayment. Because of the short-term nature of the Revolving Loan credit facilities, the Borrower agrees that the Interest Differential shall not be discounted to its present value. Any prepayment of a LIBOR Rate Loan shall be in an amount equal to the remaining entire principal balance of such LIBOR Rate Loan. The term “Money Markets” refers to one or more wholesale funding markets available to and selected by the Bank, including negotiable certificates of deposit, commercial paper, Eurodollar deposits, bank notes, federal funds, interest rate and swaps, or others.
Prepayment of LIBOR Rate Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.9.
Prepayment of LIBOR Rate Loans. Except as otherwise provided in subsection 2.8(b) above, if a LIBOR Rate Loan is prepaid prior to the end of its Loan Period, whether by the Borrower, as a result of acceleration upon default or otherwise, the Borrower agrees to pay to each Lender all of such Lender’s costs, expenses and the Interest Differential incurred as a result of such prepayment. Because of the short-term nature of this facility, the Borrower agrees that the Interest Differential shall not be discounted to its present value. Except for a mandatory prepayment required under section 2.8(a), any prepayment of a LIBOR Rate Loan shall be in an amount equal to the remaining entire principal balance of such LIBOR Rate Loan.
Prepayment of LIBOR Rate Loans. If a LIBOR Rate Loan is prepaid prior to the end of the applicable Loan Period, whether voluntarily or because prepayment is required due to the relevant Loan maturing, acceleration of the relevant Loan upon an Event of Default, or otherwise, the Borrower shall pay all of the Bank’s costs, expenses, and Interest Differential (as determined by the Bank)
Prepayment of LIBOR Rate Loans. The Borrower shall have the right to prepay any LIBOR Rate Loan in whole upon not less than three (3) LIBOR Business Days' prior written IRREVOCABLE notice to the Agent prior to the date of said prepayment specifying the intended date of prepayment and the amount to be prepaid and upon payment of all related interest and other sums then due and payable pursuant to the provisions of this Agreement. The LIBOR Rate Loan specified in any such IRREVOCABLE notice of prepayment shall, notwithstanding anything to the contrary contained in this Agreement, be absolutely and unconditionally due and payable on the date specified in such notice. No prepayment premium shall be payable if such prepayment occurs on a Roll Over Date. If such prepayment does not occur on a Roll Over Date, the Borrower shall pay to the Agent for the benefit of the Banks contemporaneously with such prepayment an amount equal to any loss or expense by reason thereof, as provided for in Section 2.10.
Prepayment of LIBOR Rate Loans. LIBOR Rate Loans may be prepaid pursuant to the following terms and conditions and the terms and conditions set forth in Section 2.09, Section 2.10 and Section 2.11 hereof. If the Borrower has or may incur Hedging Obligations in connection with the Loans, additional obligations may be associated with prepayment in accordance with the terms and conditions of the applicable Hedging Contract. The Borrower shall give the Bank, no later than 10:00 a.m. (Pittsburgh, Pennsylvania time), at least four (4) Business Days notice of any proposed prepayment of any LIBOR Rate Loan, specifying the proposed date of payment of such LIBOR Rate Loan, and the principal amount to be paid. Each partial prepayment of the principal amount of the applicable LIBOR Rate Loan shall be in an integral multiple of One Hundred Thousand and 00/100 Dollars ($100,000.00) and accompanied by the payment of all charges outstanding on such LIBOR Rate Loan (including the LIBOR Breakage Fee) and of all accrued interest on the principal repaid to the date of payment. The Borrower acknowledges that prepayment or acceleration of a LIBOR Rate Loan during a LIBOR Interest Period shall result in the Bank incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, all full or partial prepayments of any LIBOR Rate Loan shall be accompanied by, and the Borrower hereby promises to pay, on each date any LIBOR Rate Loan is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise, in addition to all other sums then owing, an amount (the “LIBOR Breakage Fee”) as calculated by the Bank, equal to the amount of any losses, expenses and liabilities (including without limitation any loss of margin and anticipated profits) that the Bank may sustain as a result of such default or payment. A certificate as to the amount of the LIBOR Breakage Fee submitted by the Bank to the Borrower in good faith shall be conclusive and binding for all purposes, absent manifest error.
