Prepayment of the Term Loan Sample Clauses

Prepayment of the Term Loan. Borrower may prepay all or any portion of the outstanding principal balance of the Term Loan at any time without premium or penalty.

Prepayment of the Term Loan. Borrower may prepay the Term Loan in whole but not in part together with accrued and unpaid interest thereon, and all other documents due and payable under the Note, this Loan Agreement, and the other Loan Documents, at any time, but only after advance written notice to Lender of at least thirty (30) days, upon payment of the Exit Fee, and provided that no Default or Event of Default shall have occurred and be continuing. Lender’s acceptance of any prepayment under this Section 2.5 shall not waive any of Lender’s rights and remedies under the Loan Documents arising pursuant to an Event of Default.

Prepayment of the Term Loan. Borrower may prepay the Term Loan in whole but not in part together with accrued and unpaid interest thereon, and all other amounts due and payable under the Note, this Loan Agreement and the other Loan Documents, at any time, but only after advance written notice to Lender of at least thirty (30) days If the Loan is prepaid in full anytime during the term of the Loan, Borrower shall pay to Lender no less than the Minimum Guaranteed Interest less the amount of the monthly payments of interest paid by Borrower to Lender, plus the Exit Fee plus the then outstanding Obligations. Lender’s acceptance of any prepayment under this Section 2.05 shall not waive any of Lender’s rights and remedies under the Loan Documents arising pursuant to an Event of Default.

Prepayment of the Term Loan. Borrower may prepay the Term Loan in whole but not in part, at any time, but only after advance written notice to Lender of at least forty-five (45) days provided that no Default or Event of Default shall have occurred and be continuing. If the Loan is prepaid anytime during the term of the Loan, Borrower shall pay to Lender the Minimum Guaranteed Interest net of any interest payments made by Borrower pursuant to Section 2.04. Lender's acceptance of any prepayment under this Section 2.05 shall not waive any of Lender's rights and remedies under the Loan Documents arising pursuant to an Event of Default."

Prepayment of the Term Loan. Borrower shall prepay the Term Loan whenever required to assure that the maximum amount of the Term Loan does not exceed the amount prescribed in paragraph 2. In the event Borrower shall sell, collect insurance proceeds on, or otherwise dispose of or realize on any collateral security, other than inventory and trade accounts receivable, granted to Lender, Borrower shall immediately prepay the Term Loan by the full amount of the proceeds so realized (it being understood and agreed that no such collateral security may be sold or otherwise disposed of or realized on except with the written consent of Lender and that Borrower shall pay over and account for all proceeds of inventory and trade accounts receivable as provided in the Credit Agreement). No prepayment under this paragraph 3 shall reduce any monthly installment due on the Term Loan pursuant to paragraph 1.

Prepayment of the Term Loan. Co-Borrowers may not prepay the principal of any Term Loan without (i) paying the Prepayment Premium, and (ii) paying all other amounts outstanding under the Term Loan Note being prepaid; and paying any Backend Financing Fees that may be due pursuant to the terms of this Agreement.

Prepayment of the Term Loan. Co-Borrowers may prepay the principal of any Term Loan, in whole or in part, by (i) paying the Prepayment Premium on that portion of the Term Loan Note being prepaid, and (ii) paying all other amounts then due and outstanding under the Term Loan Note being prepaid; and, (iii) upon prepayment of the final amounts due under the Term Loan Note, paying any Backend Financing Fees applicable to that Note that are due pursuant to the terms of this Agreement.” 6. Section 3.01(h) of the Agreement is hereby deleted in its entirety and is replaced by the following new Section 3.01(h):

Prepayment of the Term Loan. During the Amortizing Period, the Borrowers shall have the right to prepay the Principal Amount of the Term Loan on any Business Day as provided herein, upon at least two (2) Business Days' notice to the Bank. Prepayments shall be in the minimum amount of $50,000. Prepayments shall be without premium or penalty. Prepayments will be applied, at Borrowers' option, to installment payments of principal due hereunder in inverse order of or in order of approaching maturity and shall be accompanied by a payment of accrued interest on the Principal Amount prepaid through the date of the prepayment.

Prepayment of the Term Loan. (a) The Borrower shall have the right at any time and from time to time to prepay the Term Loan, in whole or in part, without premium or penalty, on one Business Day prior irrevocable written notice to the Bank of such prepayment provided, however, that each such prepayment shall be on a Business Day and shall be in a minimum principal amount of $50,000.00 and in increased integral multiples of $25,000.00. The notice of prepayment under this Section 3.10 shall set forth the prepayment date and the principal amount being prepaid and shall be irrevocable and shall commit the Borrower to prepay the Term Loan by the amount and on the date stated therein. All prepayments shall be accompanied by accrued interest on the principal amount being prepaid to the date of prepayment and by the Prepayment Fee required pursuant to paragraph (b) below. Each prepayment under this Section 3.10 shall be applied first towards unpaid interest on the amount being prepaid, second to the Prepayment fee due pursuant to paragraph (b) below and then towards the principal in whole or partial prepayment of the Term Loan. Any partial prepayment of the Term Loan shall be applied to the installments of principal of the then most distant maturity. (b) The Prepayment Fee shall be: (i) Three (3%) of the amount of the Term Loan which is prepaid prior to the first anniversary of the date of this Agreement; (ii) Two (2%) of the amount of the Term Loan which is prepaid prior to the second anniversary of the date of this Agreement; and (iii) One (1%) of the amount of the Term Loan which is prepaid prior to the third anniversary of the date of this Agreement. No Prepayment fee shall be payable if the Term Loan is refinanced by the Bank, the Agent or any Affiliate of the Bank.

Prepayment of the Term Loan. (a) The principal amount of the Term Loan may be repaid in full or in part at any time upon thirty (30) days’ prior written notice to the Administrative Agent, provided that the Borrower shall reimburse the Lenders and the Administrative Agent, on the earlier of demand or the Maturity Date, for any reasonable out-of-pocket expense incurred by the Lenders or the Administrative Agent in connection with such prepayment, as set forth in Section 2.9. Each prepayment or repayment made under this Section 2.5(a) shall include the accrued interest on the amount so prepaid or repaid and any Early Termination Fee payable in accordance with Section 2.4(b). Upon receipt of any notice of repayment or prepayment, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s portion of the repayment or prepayment. Other than with respect to amounts required to be applied to the Term Loan pursuant to Section 2.6(a) or Section 2.6(c) or Section 6.15, repayments or prepayments of principal hereunder shall be in minimum amounts of 1,000,000 and integral multiples of $100,000 in excess thereof. Amounts repaid or prepaid in respect of the Term Loan may not be reborrowed.