Common use of Prepayment to Affected Lenders Clause in Contracts

Prepayment to Affected Lenders. If any of the circumstances set out in Section 2.9, 2.11, 2.12, 2.13 or 2.14 arise, or would or are likely to arise, then the Borrower may prepay the Loan of the Lender(s) affected under such provisions. If as a result of any such circumstance the Borrower elects to prepay the Loan of the affected Lender(s) in order to avoid the amounts which would be due and payable under such provisions, the provisions of Section 2.4(b) shall apply in all respects to a prepayment under this paragraph (c), except that the Borrower shall be required to pay only 50% of Prepayment Compensation and 50% of Liquidity Breakage, as applicable, with respect to a prepayment under this paragraph (c) if any of the circumstances set out in Section 2.11 arise or would or are likely to arise. Any partial prepayment pursuant to this paragraph (c) shall be applied to remaining repayment installments of the outstanding principal amount of the Loan pro rata.

Appears in 7 contracts

Samples: Loan Agreement, Loan Agreement (Atlas Air Worldwide Holdings Inc), Loan Agreement (Atlas Air Worldwide Holdings Inc)

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