PREPAYMENT OF RECEIVABLES LOAN Sample Clauses

PREPAYMENT OF RECEIVABLES LOAN. Borrower is not entitled to prepay, in whole or in part, the Receivables Loan until the Opening Receivables Prepayment Date. Thereafter, if (a) no Event of Default or Incipient Default exists, (b) Borrower has paid all sums due and payable to Lender in connection with the Receivables Loan, and (c) Borrower has given Lender at least thirty (30) days' prior written notice of he prepayment and paid to Lender at the time of prepayment a prepayment premium equal to a percentage, determined as set forth below, of the then principal balance of the Receivables Loan, then Borrower shall have the option to prepay the Receivables Loan in full, but not in part, on any date an installment is due on the Receivables Note. If there should occur a casualty to or condemnation of the Project or an acceleration of maturity following an event of Default and such occurrence results in prepayment of the Receivables Loan, a prepayment premium will be required in the amount specified below (but if such occurs prior to the Opening Receivables Prepayment Date, Borrower will pay to Lender with a prepayment premium equal to a five percent (5%) of the then principal balance of the Receivables Loan).
Sample 1
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Related to PREPAYMENT OF RECEIVABLES LOAN

  • Prepayment of Notes No prepayment of the Notes may be made except to the extent and in the manner expressly provided in this Agreement.

  • Sale or Discount of Receivables Except for receivables obtained by the Borrower or any Subsidiary out of the ordinary course of business or the settlement of joint interest billing accounts in the ordinary course of business or discounts granted to settle collection of accounts receivable or the sale of defaulted accounts arising in the ordinary course of business in connection with the compromise or collection thereof and not in connection with any financing transaction, the Borrower will not, and will not permit any Subsidiary to, discount or sell (with or without recourse) any of its notes receivable or accounts receivable.

  • Payment and Prepayment of the Notes Section 8.1.

  • Prepayment of Loan Section 10.1 Options to Prepay Loan 28 Section 10.2 Additional Option to Prepay Loan 29 Section 10.3 Obligations to Prepay Loan 29 Section 10.4 Notice of Prepayment; Redemption Procedures 31 Section 10.5 Relative Position of this Article and Indenture 31 Section 10.6 Concurrent Discharge of First Mortgage Bonds 31 ARTICLE XI

  • Collection of Receivable Payments; Modifications of Receivables (a) Consistent with the standards, policies and procedures required by this Agreement, the Servicer shall make reasonable efforts to collect all payments called for under the terms and provisions of the Receivables as and when the same shall become due, and shall follow such collection procedures as it follows with respect to all comparable automobile receivables that it services for itself or others and otherwise act with respect to the Receivables, the Dealer Agreements, the Dealer Assignments, the Insurance Policies and the Other Conveyed Property in such manner as will, in the reasonable judgment of the Servicer, maximize the amount to be received by the Trust with respect thereto, including directing the Issuer to sell the Receivables pursuant to Section 4.3(c). The Servicer is authorized in its discretion to waive any prepayment charge, late payment charge or any other similar fees that may be collected in the ordinary course of servicing any Receivable.

  • Prepayment of the Notes In addition to the payment of the entire unpaid principal amount of the Notes at the final maturity thereof, the Company may make optional prepayments in respect of the Notes as hereinafter provided.

  • Prepayment of the Loan The Company may from time to time prepay all or any portion of the Loan without premium or penalty of any type. The Company shall give the Lender at least three Business Day prior written notice of its intention to prepay the Loan, specifying the date of payment and the total amount of the Loan to be paid on such date.

  • Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.

  • Prepayment of Loans (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section.

  • Prepayment of Rents Borrower will not receive or accept Rent under any Lease (whether a residential Lease or a Non-Residential Lease) for more than 2 months in advance.

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