Prepayment of the Advances. (a) The Borrower shall have the right at any time and from time to time, upon not less than one (1) Business Day’s prior written notice in the form of Exhibit D hereto or telephonic notice (in the case of telephonic notice, promptly confirmed in writing in the form of Exhibit D hereto) to the Agent specifying the date and amount of such prepayment, to prepay (without any premium or penalty, except for any Liquidation Fee or amount payable under Section 2.08) all or a portion of the outstanding Advances, together with unpaid Yield on all Advances that are paid in full on such date of prepayment, on a Business Day; provided that any such prepayment, if a partial prepayment, shall be at least $1,000,000 and in integral multiples of $100,000 in excess thereof.
(b) If on any Business Day the Borrower is not in full compliance with the Borrowing Base Test, the Borrower shall on such date of date of determination (a “Determination Date”) (I) notify the Agent of such failure to comply, and (II) on the Business Day next succeeding such Determination Date (each such date, a “Compliance Certification Date”) prepay Advances (together with Yield thereon) in an amount necessary to cause the Borrower to be in full compliance with the Borrowing Base Test on such Compliance Certification Date; provided, however, that to the extent the Borrower does not have sufficient available funds to fully cure such compliance shortfall on such Compliance Certification Date, then the Borrower shall (i) on such Compliance Certification Date prepay outstanding Advances in the amount of its available funds; (ii) as promptly as practicable and in any event no later than the close of business on the twelfth (12th) Business Day following such Determination Date prepay Advances in a principal amount (and pay the Yield thereon) at least sufficient to cause the Borrowing Base to be at least equal to the product of (x) 1.05 and (y) the Credits Outstanding, as determined on such Compliance Certification Date; and (iii) no later than the close of business on such Compliance Certification Date, deliver to the Agent a certificate, signed by an Responsible Officer of the Borrower, that (1) certifies the amount of the compliance shortfall and (2) certifies that the requirements of this Section 2.05(b) shall be satisfied on or prior to the twelfth (12th) Business Day following such Determination Date.
(c) If at any time the aggregate credit extended by the Lenders and the Secondary Lenders in connection...
Prepayment of the Advances. Borrower may at any time prepay any Prime Rate Advance or any LIBOR Rate Advance, in full or in part. Each partial prepayment for a LIBOR Rate Advance shall be in an amount not less than One Hundred Thousand Dollars ($100,000). Each prepayment shall be made upon the irrevocable written or telephone notice of Borrower received by Bank not later than 10:00 a.
Prepayment of the Advances. Borrower may at any time prepay any Prime Rate Advance or any LIBOR Rate Advance, in full or in part. Each partial prepayment for a LIBOR Rate Advance shall be in an amount not less than One Hundred Thousand Dollars ($100,000). Each prepayment shall be made upon the irrevocable written or telephone notice of Borrower received by Bank not later than 10:00 a.m. California time on the date of the prepayment of a Prime Rate Advance, and not less than three (3) Business Days prior to the date of the prepayment of a LIBOR Rate Advance. The notice of prepayment shall specify the date of the prepayment, the amount of the prepayment, and the Advance or Advances prepaid. Each prepayment of a LIBOR Rate Advance shall be accompanied by the payment of accrued interest on the amount prepaid and any amount required by Section 2.6.
Prepayment of the Advances. Subject to Section 2.7, Borrower may at any time prepay any Advance without premium or penalty. If the aggregate outstanding principal amount of the Advances at any time exceeds the Revolving Line, Borrower will immediately pay to Administrative Agent, for the ratable benefit of Lenders, the amount of such excess.
Prepayment of the Advances. Borrower may at any time prepay any Prime Rate Advance, any Optional Currency Rate Advance, or any LIBOR Rate Advance, in full or in part. Each partial prepayment for a LIBOR Rate Advance shall be in an amount not less than Two Hundred Fifty Thousand Dollars ($250,000). Each prepayment shall be made upon the irrevocable written or telephone notice of Borrower received by Servicing Agent not later than 10:00 a.m. California time on the date of the prepayment of a Prime Rate Advance, not less than two Business Days in the country of the Optional Currency prior to the date of the prepayment of an Optional Currency Rate Advance, and not less than three (3) Business Days prior to the date of the prepayment of a LIBOR Rate Advance. The notice of prepayment shall specify the date of the prepayment, the amount of the prepayment, and the Advance or Advances to be prepaid. Each prepayment of an Optional Currency Rate Advance for which the term and interest rate have been fixed or LIBOR Rate Advance shall be accompanied by the payment of accrued interest on the amount prepaid and any amount required by Section 2.12.
Prepayment of the Advances. (a) The Borrower may, upon at least five days' irrevocable written notice to the Lender, prepay the Advances in whole or in part, at any time on or after the fifth anniversary of the Closing Date, together with (i) accrued and unpaid interest on the amount prepaid plus (ii) a premium equal to (A) 150 basis points from June 19, 2013 to June 18, 2014, (B) 100 basis points from June 19, 2014 to June 18, 2015, (C) 35 basis points as from June 19, 2015 to June 18, 2017, and (D) 0 basis points thereafter, in each case of the amount prepaid, plus (iii) all other amounts then payable hereunder. Each such notice shall state the proposed date and amount of the prepayment, and if such notice is given, the Borrower shall prepay the amount described in the immediately preceding sentence.
(b) The Borrower may, at its option, prepay the Advances in whole or in part, at any time prior to the fifth anniversary of the Closing Date, together with (i) accrued interest thereon to the date of prepayment plus (ii) a fee equal to the excess, if any, over the amount prepaid of the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of the interest accrued to the date of prepayment) discounted to the date of prepayment on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the U.S. Treasury Rate plus 40 basis points plus (iii) all other amounts then payable hereunder.
(c) The amounts payable under Section 2.05(a) or (b), as applicable, shall also be payable upon any acceleration of the Advances pursuant to Section 6.01 (but, in this case, shall in no event exceed 200 basis points).
(d) Notwithstanding the provisions of Section 2.05(a) and 2.05(b), if as a result of a Change in Tax Law the Borrower has or will become obligated to pay any amounts under Section 2.07(a) in excess of the amounts the Borrower would be obligated to pay as a result of Taxes had no such Change in Tax Law occurred, the Borrower may, at its option, prepay the Advances in whole, together with accrued interest thereon to the date of prepayment, together with a prepayment premium in the amount payable under Sections 2.05(a) or (b), as applicable (but, in this case, shall in no event exceed 200 basis points).
(e) The amount of each principal prepayment of the Advances shall be applied to reduce the then remaining installments of the Advances pro rata based upon the then remaining principal amounts thereof.
Prepayment of the Advances. Borrower may at any time prepay any Advance in full or in part. Each prepayment shall be made upon the irrevocable written or telephone notice of Borrower received by Lender not later than 10:00 a.
Prepayment of the Advances. (a) It is understood and agreed that the Borrower shall have the right at any time and from time to time, upon not less than one (1) Business Day’s prior written or telephonic notice (in the case of telephonic notice, promptly confirmed in writing) to the Agent specifying the date and amount of such prepayment, to prepay all or a portion of the outstanding Advances, together with unpaid Yield thereon, on a Business Day without payment of any penalty or premium other than any Liquidation Fee or any amount payable under Section 2.08; provided, that any such prepayment, if a partial prepayment, shall be an integral multiple of $100,000 with a minimum amount of $5,000,000.
(b) If on any Business Day the Borrowing Base Test or the Asset Coverage Test is not fully complied with, the Borrower shall on such Business Day notify the Agent of such failure to comply, and as promptly as possible (and in any event within two (2) Business Days) either (i) prepay Advances (and pay Yield thereon) without payment of any penalty or premium other than any Liquidation Fee or any amount payable under Section 2.08, and/or (ii) pledge to the Agent additional Borrowing Base Eligible Assets in an amount necessary to cause the Borrowing Base Test and the Asset Coverage Test to be fully complied with on such Business Day.
(c) The amount of each prepayment under this Section 2.05 shall be applied ratably to the Advances of each Lender and each Secondary Lender in the order in which such Advances were made, provided, however, that the amount of such prepayment shall be applied first to any outstanding Advances in respect of which Yield is computed by reference to the Alternate Base Rate and then applied to any outstanding Advances in respect of which Yield is computed by reference to the Eurodollar Rate.
Prepayment of the Advances. Borrower may at any time prepay any Prime Rate Advance or any LIBOR Rate Advance, in full or in part. Each partial prepayment for a Swing Loan shall be in an amount not less than Two Hundred Fifty Thousand Dollars ($250,000), unless otherwise agreed to by Bank, and each partial prepayment for a LIBOR Rate Advance shall be in an amount not less than One Hundred Thousand Dollars ($100,000). Each prepayment shall be made upon the irrevocable written or telephone notice of Borrower received by Bank not later than 10:00 a.m. California time on the date of the prepayment of a Prime Rate Advance, and not less than three (3) Business Days prior to the date of the prepayment of a LIBOR Rate Advance. The notice of prepayment shall specify the date of the prepayment, the amount of the prepayment, and the Advance or Advances prepaid. Each prepayment of a LIBOR Rate Advance shall be accompanied by the payment of accrued interest on the amount prepaid and any amount required by Section 2.6.
Prepayment of the Advances. (a) It is understood and agreed that the Borrower shall have the right at any time and from time to time, upon not less than three (3) Business Days' prior written or telephonic notice (in the case of telephonic notice, promptly confirmed in writing) to the Agent specifying the date and amount of such prepayment, to prepay all or a portion of the outstanding Advances, together with unpaid Yield thereon, on a Business Day; provided, that any such prepayment, if a partial prepayment, shall be an integral multiple of $1,000,000 with a minimum amount of $1,000,000.
(b) If at any time the Borrower is not in full compliance with the Borrowing Base Test then the Borrower shall (A) promptly notify the Agent of such failure to comply (which notice shall specify the amount by which Credits Outstanding will have to be reduced to be in compliance with the Borrowing Base Test (the "Excess Amount")), and (B) promptly (and no later than the next Business Day) prepay the outstanding principal amount of the Advances (together with Yield) in an amount necessary to remove such Excess Amount.
(c) The amount of each prepayment under this Section 2.05 shall be applied to the Advances in the order in which such Advances were made.
