Prepayment of Term Loan. The Borrower shall have the right at any time and from time to time to prepay the Term Loan in whole or in part, subject to at least three Business Days prior notice. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.07.
Prepayment of Term Loan. The Authority may prepay the Term Loan, in whole or in part, on any Business Day, without cost, penalty or premium, provided at least three (3) days’ written notice is provided by the Authority to the Lender. Each such notice of optional prepayment shall be irrevocable and shall bind the Authority to make such prepayment in accordance with such notice. All prepayments of principal shall include accrued interest to the date of prepayment and all other amounts due pursuant to this Agreement.
Prepayment of Term Loan. (i) Borrower shall have the option, at any time after the Closing Date, to prepay, in whole but not in part, the Term Loan advanced by Lender under this Agreement; provided that (A) Borrower provide written notice to Lender of its election (which shall be irrevocable unless Lender otherwise consents in writing) to prepay all of the Term Loan at least five (5) Business Days prior to such prepayment, and (B) such prepayment shall be accompanied by any and all accrued and unpaid interest on the principal amount to be prepaid to the date of prepayment and any amounts payable pursuant to Section 2.2(e) or Section 2.2(f) (as applicable), and all other amounts payable or accrued and not yet paid under this Agreement and the other Loan Documents.
(ii) Upon a Change in Control, Borrower shall promptly, and in any event no later than ten (10) days after the consummation of such Change in Control, notify Lender in writing of the occurrence of a Change in Control, which notice shall include reasonable detail as to the nature, timing and other circumstances of such Change in Control (such notice, a “Change in Control Notice”). Borrower shall prepay all of the Term Loan in full, no later than ten (10) Business Days after delivery to Lender of the Change in Control Notice, in an amount equal to the sum of (A) all unpaid principal and any and all accrued and unpaid interest with respect to the Term Loan, and (B) any applicable amounts payable pursuant to Section 2.2(e) and Section 2.2(f) and all other amounts payable or accrued and not yet paid under this Agreement and the other Loan Documents.
Prepayment of Term Loan. Borrower shall have the option of prepaying the principal amount of the Term Loan, prior to the Maturity Date, in whole or in part, provided that Borrower concurrently pays ORIX (i) all accrued and unpaid interest on the principal so prepaid and (ii) a prepayment fee equal to 2.0% of the amount prepaid if prepayment occurs on or prior to the second anniversary of the date of this Agreement, and 1.0% of the amount prepaid if prepayment occurs after the second anniversary of the date of this Agreement. Said prepayment fee shall be due from Borrower to ORIX upon any prepayment of the principal of the Term Loan, including without limitation any prepayment as a result of an Event of Default.
Prepayment of Term Loan. Immediately upon receipt by either Borrower or any Subsidiary of the Net Proceeds of any Permitted Asset Disposition, such Borrower or Subsidiary shall pay such the first $500,000 of the Net Proceeds to Lender.
Prepayment of Term Loan. The Borrower may, by notice to the Lender, prepay the outstanding amount of the Term Loan in whole or in part with accrued interest to the date of such prepayment on the amount prepaid, without penalty or premium, except as provided in this Section and Section 2.16. In the event the Term Loan is prepaid, in whole or in part, within two (2) years following the Closing Date, the Borrower shall pay a prepayment fee equal to the following specified percentage of the amount of principal prepaid: Months 1-12 2.00 % Months 13-24 1.00 % Notwithstanding the foregoing, no prepayment fee shall be required if such prepayment is made pursuant to Section 2.04(b) of this Agreement. Any prepayment does not otherwise affect Borrower’s obligation to pay any fees due under this Agreement. In addition, in the event any Loan is converted to a fixed rate loan, the Borrower shall pay the prepayment penalty applicable to that fixed interest rate, if any.
Prepayment of Term Loan. Notwithstanding anything to the contrary contained herein, in the Credit Agreement and/or in the Loan Documents, not later than three (3) Business Days following the Borrower’s receipt of the Net Cash Proceeds from the issuance of the Convertible Notes, the Borrower shall apply $5,000,000 of such Net Cash Proceeds to prepay a like amount of the aggregate outstanding principal amount of the Term Loan, such prepayment to be apportioned by the Administrative Agent among the Lenders in accordance with each Lender’s respective Pro Rata Share (the “$5,000,000 Prepayment”). Notwithstanding any of the provisions set forth herein or in the Loan Documents, the Borrower shall not be required to make any prepayment of accrued and unpaid interest on the $5,000,000 Prepayment when the $5,000,000 Prepayment is paid (for the avoidance of doubt, (x) all accrued and unpaid Term Loan Cash Interest on account of the $5,000,000 Prepayment shall be due and payable on the next Interest Payment Date after the Seventh Amendment Effective Date and (y) all accrued and unpaid Term Loan PIK Interest on account of the $5,000,000 Prepayment shall be due and payable in accordance with the Credit Agreement and not on the day the $5,000,000 Prepayment is made (as if the $5,000,000 Prepayment was not made solely for purposes of determining when such Term Loan PIK Interest is payable)).
Prepayment of Term Loan. Borrower shall have the option of prepaying principal amounts of the Term Loan prior to the Maturity Date, in whole or in part, provided that Borrower concurrently pays Lender (i) all accrued and unpaid interest on the principal so prepaid and (ii) the prepayment fees set forth on the Schedule. Prepayments of the Term Loan shall be applied to the principal installments due on the Term Loan in the inverse order of their maturity.
Prepayment of Term Loan. The Borrower may prepay, without penalty or premium, in amounts of [AMOUNT] or whole multiples thereof, the whole or a part of the principal amount of the Term Loan together with any accrued and unpaid interest on any amounts so prepaid. Any prepayment made hereunder shall be imputed to the installments referred to in Section 6.1 in inverse order of maturity.
Prepayment of Term Loan. Borrower may at any time and from time to time prepay all, but not less than all, of the outstanding principal balance of the Term Loan, upon irrevocable notice delivered to the Bank no later than 10 :00 A.M., Pacific time, three (3) Business Days prior thereto, in the case of LIBOR Loans, and no later than 10:00 A.M., Pacific time, one (1) Business Day prior thereto, in the case of Prime Rate Loans, which notice shall specify the date and amount of the proposed prepayment, it being understood that if a LIBOR Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 3.6(c)(ii). If such prepayment is at Borrower’s election or at Bank’s election due to the occurrence and continuance of an Event of Default, Borrower shall pay to Bank, in addition to the payment of any other expenses or fees then-owing, a prepayment fee in an amount equal to (i) if such prepayment occurs on or prior to the First Anniversary, Ninety Thousand Dollars ($90,000) (i.e. two percent (2.00%) of Four Million Five Hundred Thousand Dollars ($4,500,000)); (ii) if such prepayment occurs after the First Anniversary but on or before the Second Anniversary, Forty Five Thousand Dollars ($45,000) (i.e. one percent (1.00%) of Four Million Five Hundred Thousand Dollars ($4,500,000)); and (iii) if such prepayment occurs after the Second Anniversary, no prepayment fee will be charged. No prepayment fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank. In addition, if such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing, such notice of prepayment may be revoked if the financing is not consummated. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid.
