Common use of Prepayment Restrictions Clause in Contracts

Prepayment Restrictions. (a) So long as no Default or Event of Default exists, the Term Loan may be prepaid by Borrower in whole, but not in part, upon not less than thirty (30) days prior written notice from Borrower to Agent and Lender, which notice of prepayment shall be irrevocable. An express condition to Borrower's right to prepay the Term Loan and to Lender's obligations to accept such prepayment is the simultaneous payment by Borrower of the Prepayment Fee and the Breakage Fee, each to the extent applicable. The Prepayment Fee shall be paid by Borrower in connection with any prepayment of the Term Loan (including a prepayment required by the acceleration of the Term Loan following the occurrence of an Event of Default) made or required to be made on or prior to May 1, 2011. The Breakage Fee shall be paid by Borrower in connection with any prepayment of the Term Loan on a day other than the last day of an Interest Period.