Common use of Prepayment of the Loans Clause in Contracts

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,000.

Appears in 2 contracts

Samples: Loan Agreement (Douglas Emmett Inc), Loan Agreement (Douglas Emmett Inc)

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Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,000.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,00037,500,000.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six twelve (612) months after the Closing Date 1.004.00% During the period from the day immediately following the date which occurs six twelve (612) months after the Closing Date to and including the date which occurs twelve twenty-four (1224) months after the Closing Date 0.503.00% During the period from the day immediately following the date which occurs twenty-four (24) months after the Closing Date to and including the date which occurs thirty-six (36) months after the Closing Date 2.00% During the period from the day immediately following the date which occurs thirty-six (36) months after the Closing Date to and including the date which occurs forty-eight (48) months after the Closing Date 1.00% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,000.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six twelve (612) months after the Closing Date 1.002.00% During the period from the day immediately following the date which occurs six twelve (612) months after the Closing Date to and including the date which occurs twelve twenty-four (1224) months after the Closing Date 0.501.00% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,000.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,00053,750,000.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following:: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,00042,500,000.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

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Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,000.to

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower or Co-Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,00027,500,000 plus twenty-five percent (25%) of the amount theretofore advanced pursuant to Section 2.11.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

Prepayment of the Loans. Upon not less than ten (10) days’ prior written notice to the Administrative Agent, the Borrower may prepay the Loans, in whole or in part, in minimum increments of One Million Dollars ($1,000,000) except as otherwise provided by Section 2.06(c), subject to the following: (i) any such prepayment shall be accompanied by the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid, in accordance with Section 2.08; (ii) except as provided below, any such prepayment (except as a result of a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25)) shall be accompanied by a prepayment premium equal to the following percentage of the principal amount so prepaid: If the prepayment occurs during the following period: The percentage is as follows: During the period from the Closing Date to and including the date which occurs six (6) months after the Closing Date 1.00% During the period from the day immediately following the date which occurs six (6) months after the Closing Date to and including the date which occurs twelve (12) months after the Closing Date 0.50% Thereafter 0.00% and (iii) such prepayment shall be accompanied by any amounts payable to a Lender pursuant to Section 5.05 as a result of such prepayment while a Eurodollar Loan is in effect, in accordance with Section 2.08. If the Loans are paid or prepaid in whole or in part for any reason (including acceleration of the Loans or because the Loans automatically become due and payable in accordance with Section 12.02(a)), other than by a Casualty Event or Taking or any prepayment made pursuant to Section 10.03(j) or Section 14.25) at any time, the Borrower shall pay to the Administrative Agent (on behalf of the Lenders) the amount(s) described in clauses (i), (ii), as applicable, and (iii), of the immediately preceding sentence. Notwithstanding the foregoing, during the period from the Closing Date to and including the date which occurs twelve (12) months after the Closing Date, no prepayment premium pursuant to clause (ii) of Section 2.06(a) shall be payable in connection with any prepayment of principal made other than pursuant to Section 2.09(a), if such prepayment, when aggregated with all past prepayments made other than pursuant to Section 2.09(a), would not exceed $106,250,000an amount which is equal to twenty-five percent (25%) of the aggregate sum of all principal amounts of the Loans advanced on or after the Closing Date.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

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