Prepayment Provision Sample Clauses

Prepayment Provision. From and after the date hereof, upon 10 Trading Days’ prior written notice to the Investor, the Company shall be permitted to prepay, in whole or in part, outstanding principal amount of the Debenture, together with a prepayment premium in the amount of ten percent (10%) of the amount of principal being prepaid by the Company, without having to obtain the prior written consent of the Investor as required by Section 2(b) of the Debenture. Notwithstanding anything herein contained to the contrary, if any portion of the principal amount subject to redemption remains unpaid after the date set for redemption in the notice to the Investor, other than as a result of a Material Adverse Effect (as defined below), the Investor may elect, by written notice to the Company given at any time thereafter, to invalidate such redemption, ab initio, and the Company shall have no further right to exercise such redemption right. The Investor may elect to convert the outstanding principal amount of the Debenture that the Company has elected to prepay prior to actual payment in cash for any redemption hereunder by the delivery of a Notice of Conversion to the Company. Additionally, in the event the Investor exercises its right to exchange this Debenture pursuant to Section 6.18(b) prior to the later of the expiration of the notice period and actual prepayment in cash, such exchange shall be honored and the Debenture may not then be prepaid. For purposes of clarification, any rights of the Investor under Section 6.18(b) of the Purchase Agreement shall supersede any rights of prepayment by the Company. As used herein, a “Material Adverse Effect” shall mean a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, which occurs prior to the expiration of the 10 Trading Day notice period set forth in this Section 1(b) and as a result, makes it impractical or inadvisable for the Company to proceed with its election for prepayment.
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Prepayment Provision. The Mortgage Loan will be prepayable in whole or in part during its Term in accordance with the provisions of this paragraph. The Mortgage Loan will have a prepayment fee of ____% of the principal amount prepaid in loan years one and two and ____% of the principal amount prepaid in loan years three and four; provided, however, that there will be a right to prepay up to a portion of the principal of the Mortgage Loan equal to $100 million less the Sale Reduction Amount as of the Closing Date within the first nine (9) months of the Term, but in no event later than May 31, 2000, with a prepayment fee of ____% of the principal amount prepaid. No prepayment fee shall be payable in connection with (i) the payments required pursuant to the section hereof entitled "Amortization", (ii) involuntary prepayments due to casualty or condemnation or (iii) prepayments made to obtain an extension of the Term of the Mortgage Loan pursuant to the section hereof entitled "Extension Conditions". 225 EXHIBIT A Page 8 RELEASE: Borrower may obtain the release of a Property from the liens and security interests securing the Mortgage Loan in connection with a sale or refinancing of such Property, subject to the Prepayment Provision set forth above and subject to certain customary release provisions, including, but not limited to, the following:
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Prepayment Provision. Without limitation of the terms and conditions of the Loan Agreement, the prepayment provisions of section 2.6.1(a) and (b) of the Loan Agreement shall be deemed to continue to apply to prepayment prior to the Maturity Date, as amended by this Agreement, such that the lowest percentage set forth therein, the 1% amount of the portion of the Term Loan or Revolver Loan so prepaid, shall apply to the Borrower's prepayment of the Revolver Loan and the Term Loan after the date hereof and prior to the Maturity Date.
Sample 1
Prepayment Provision. The Note may be retired and repaid in part or in full prior to its normal maturity at any time without premium or penalty, provided, however, that such prepayment shall not serve to decrease or diminish the payments set forth in Section 2.02 above.
Sample 1
Prepayment Provision. Borrower may prepay this Note in whole or in part at any time without premium or penalty. After the Conversion Date, upon making any prepayment of the principal in whole, Borrower shall pay to the Bank all interest and Expenses owing pursuant to this Note and remaining unpaid. After the Conversion Date, each partial prepayment of the Principal shall be applied in inverse order of maturity.
Sample 1
Prepayment Provision. If Borrower makes any payment of principal with respect to any LIBOR Loan on any day other than the last day of a LIBOR Interest Period applicable to such LIBOR Loan, Borrower shall reimburse Bank on demand the Consequential Loss incurred by it as a result of the timing of such payment. A certificate of Bank setting forth the basis for the determination of the amount of a Consequential Loss shall be delivered to Borrower and shall, in the absence of manifest error, be conclusive and binding as to such determination and amount. Any conversion of a LIBOR Loan to a different LIBOR Interest Option on any day other than the last day of the LIBOR Interest Period of such LIBOR Loan shall be deemed a payment subject to the provisions of this section.
Sample 1
Prepayment Provision. Borrower shall pay a prepayment premium equal to one percent (1.0%) of the amount prepaid for all prepayments hereunder, whether voluntary or involuntary (including prepayments arising from acceleration, condemnation, payment of insurance premiums, arising from an Event of Default or otherwise), made during the first five (5) years of the term of this Note. Thereafter there is no prepayment premium hereunder.
Sample 1
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Prepayment Provision. A prepayment premium will be assessed on the current unpaid principal balance if this loan is paid in full prior to maturity as stated below: Year 1 5% Year 4 2% Year 2 4% Year 5 1% Year 3 3% Dated: July 27, 2001 ------------- Debtor: Meadow Valley Contractors, Inc. ---------------------------------------------- By: /s/ Xxxxxxx X. Xxxxxx Title: Vice President ----------------------- -------------- If Corporation, have signed by President, Vice President or Treasurer, and give official title. X.X. Xxx 00000 Xxxxxxx, XX 00000 ------------------------------------------------------- Mailing Address City State Zip Code Secured Party: FCC Equipment Financing, Inc. ---------------------------------------------------- Name of individual, corporation or partnership By:_________________________Title___________________ if Corporation, give official title. If owner or partner, state which. X.X. Xxx 00000 ---------------------------------------------------- Xxxxxxxxxxxx, Xxxxxxx 00000-0000 ---------------------------------------------------- If Debtor is partnership, enter: Partner's names Home Addresses --------------- --------------
Sample 1

Related to Prepayment Provision

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Prepayment of Notes (a) The Company at its option may, upon ten days' written notice to the Holders, at any time, prepay all or any part of the principal amount of Notes at a redemption price equal to 101% (or, if the Company shall have paid the fee required by Section 6.18(b), 100%) of the principal amount of Notes so prepaid, together with accrued interest through the date of prepayment; provided, 18 that the redemption price shall be 103% of par plus accrued interest if the Notes are refunded (whether at the time of redemption or maturity) with or in anticipation of funds raised by any financing transaction in which DLJSC has not acted as sole agent or underwriter to the Company (unless DLJSC, in its sole discretion, shall have consented thereto). (b) The Company shall, promptly upon the receipt by the Company of the Net Cash Proceeds of any Designated Transaction, prepay an aggregate principal amount of Notes equal to the amount of such Net Cash Proceeds, at a redemption price equal to 101% of the principal amount of the Notes so prepaid, together with accrued interest through the date of prepayment; provided, that the redemption price shall be 103% of par plus accrued interest if the Notes are refunded (whether at the time of redemption or maturity) with or in anticipation of funds raised by any financing transaction in which DLJSC has not acted as sole agent or underwriter to the Company (other than a fully underwritten bank financing pursuant to a signed commitment letter containing only such conditions as are usual and customary in such financings and which does not contain any condition relating to the successful syndication of such transaction); and provided, further, that Notes shall be required to be so prepaid only to the extent that Net Cash Proceeds from all Designated Transactions on and after the date hereof exceed $1,000,000. (c) The Company shall, immediately upon the occurrence of a Change in Control, prepay all Notes then outstanding at a redemption price equal to 103% of the principal amount thereof, together with accrued interest through the date of prepayment. (d) Any prepayment of the Notes pursuant to Section 2.6(a) shall be in a minimum amount of at least $1,000,000 and multiples of $1,000,000, unless less than $1,000,000 of the Notes remains outstanding, in which case all of the Notes must be prepaid. Any prepayment of the Notes pursuant to Section 2.6(b) shall be in a minimum amount which is a multiple of $1,000 times the number of Holders at the time of such prepayment. (e) Any partial prepayment shall be made so that the Notes then held by each Holder shall be prepaid in a principal amount which shall bear the same ratio, as nearly as may be, to the total principal amount being prepaid as the principal amount of such Notes held by such Holder shall bear to the aggregate principal amount of all Notes then outstanding. In the 19 event of a partial prepayment, upon presentation of any Note the Company shall execute and deliver to or on the order of the Holder, at the expense of the Company, a new Note in principal amount equal to the remaining outstanding portion of such Note.

  • Prepayment Penalty Each Mortgage Loan that is subject to a Prepayment Penalty as provided in the related Mortgage Note is identified on the related Mortgage Loan Schedule. With respect to each Mortgage Loan that has a Prepayment Penalty feature, each such Prepayment Penalty is enforceable and will be enforced by the Seller during the period the Seller is acting as Interim Servicer for the benefit of the Purchaser, and each Prepayment Penalty is permitted pursuant to federal, state and local law. Each such Prepayment Penalty is in an amount not more than the maximum amount permitted under applicable law and no such Prepayment Penalty may be imposed for a term in excess of five (5) years with respect to Mortgage Loans originated prior to October, 1, 2002. With respect to Mortgage Loans originated on or after October 1, 2002, the duration of the Prepayment Penalty period shall not exceed three (3) years from the date of the Mortgage Note unless the Mortgage Loan was modified to reduce the Prepayment Penalty period to no more than three (3) years from the date of the related Mortgage Note and the Mortgagor was notified in writing of such reduction in Prepayment Penalty period. With respect to any Mortgage Loan that contains a provision permitting imposition of a premium upon a prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such premium in exchange for a monetary benefit, including but not limited to a rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of obtaining a mortgage loan that did not require payment of such a premium, and (iii) the Prepayment Penalty is disclosed to the Mortgagor in the mortgage loan documents pursuant to applicable state, local and federal law. This representation and warranty is a Deemed Material and Adverse Representation;

  • 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 will make required, and may make optional, prepayments in respect of the Notes as hereinafter provided.

  • Repayment Prepayment and Cancellation 6 REPAYMENT

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

  • Prepayment Premiums As of the applicable date of origination of each such Mortgage Loan, any prepayment premiums and yield maintenance charges payable under the terms of the Mortgage Loans, in respect of voluntary prepayments, constituted customary prepayment premiums and yield maintenance charges for commercial mortgage loans.

  • Payment and Prepayment of the Notes Section 8.1 Required Payment Section 8.2 Optional Prepayments with Make-Whole Amount Section 8.3 Change in Control

  • Mandatory Prepayment In the event the Total Outstandings ever exceed the Borrowing Base as determined by the Banks pursuant to Section 7 hereof (a "Borrowing Base Deficiency"), Borrower shall, within thirty (30) days after notification from Agent either (A) by instruments satisfactory in form and substance to Banks, provide the Banks with additional collateral with value and quality satisfactory to Banks in their sole discretion in order to increase the Borrowing Base by an amount at least equal to such excess, or (B) prepay, without premium or penalty, the principal amount of the Notes in an amount at least equal to such excess, or (C) prepay, without premium or penalty, the amount of such excess in five (5) equal monthly installments due and payable on the last Business Day of each of the next five (5) consecutive months, or (D) elect to convert the entire principal amount of the Notes to a term obligation with monthly installments of principal and interest due and payable on the last Business Day of each month from the date of such conversion to the Maturity Date, each such installment payment to be in the amount of accrued interest plus an amount of principal equal to the greater of (i) 1/36th of the outstanding balance on the date of conversion or (ii) an amount determined by dividing the principal amount outstanding on the date of the conversion by the estimated economic half-life of the Oil and Gas Properties expressed in terms of months, as determined by the Agent in its sole and absolute discretion reasonably exercised. Notwithstanding any of the foregoing, all unpaid principal and interest shall be due and payable on the Maturity Date. Provided, however, that in the event the Borrower elects option (C) above, the Borrowing Base Deficiency must be cured at the end of the installment period specified above or the entire outstanding principal balance due on the Notes shall immediately convert to a term loan payable in accordance with the payment provisions set forth in subsection (D) above. Provided, further, however, that during the five (5) month prepayment period specified in subsection (C) above, Borrower may elect at any time to convert to a term loan pursuant to subsection (D) above. The determination of whether Borrower has cured any such Borrowing Base Deficiency at the end of the installment period specified in (C) above, shall be made by the Banks in their sole and absolute discretion based upon an unscheduled Borrowing Base redetermination made pursuant to Section 7(b) of this Agreement.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

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