Common use of Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral Clause in Contracts

Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Borrower may prepay the outstanding principal amounts of the Advances, in whole or in part, in an amount equal to the sum of (i) the principal amount of the Advances being prepaid, (ii) any applicable Make Whole Amount (except that no Make-Whole Amount will apply to a prepayment made by Borrower pursuant to this Section 2.09(a) within ten (10) Business Days of Borrower’s receipt of notice of an adjustment made pursuant to the last paragraph of Section 8.01), and (iii) accrued interest to the date of such prepayment on the amount prepaid, upon irrevocable notice thereof to Administrative Agent, who shall give to each Lender prompt notice thereof; provided that (i) each prepayment shall be made on a Pro Rata Basis and (ii) each partial prepayment of the Advances shall be in an aggregate principal amount of at least $10,000,000 or a whole multiple of $1,000,000 in excess thereof. Such notice shall be given to Administrative Agent by Borrower not later than 11:00 a.m. on the date five (5) Business Days prior to the date of any such prepayment. For the avoidance of doubt, no Make Whole Amount is payable if the date of prepayment under this clause (a) falls on or after the Make Whole End Date.

Appears in 1 contract

Samples: Margin Loan Agreement (Riverstone VI Centennial QB Holdings, L.P.)

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Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Borrower may prepay the outstanding principal amounts of the AdvancesAdvances (including with Cash held as Collateral), in whole or in part, in an amount equal to the sum of (i) together with accrued and unpaid interest on the principal amounts to be repaid and any amount due under Sections 2.04(c) and 2.07(f) (and, in the case of the Advances being prepaid, (ii) any applicable Make Whole Amount (except that no Make-Whole Amount will apply to a prepayment made by Borrower pursuant to this Section 2.09(a) within ten (10) Business Days of Borrower’s receipt all Advances, all other Obligations that are then due and payable or will become due and payable on account of notice of an adjustment made pursuant to the last paragraph of Section 8.01such prepayment), at any time and (iii) accrued interest from time to the date of such prepayment on the amount prepaid, time upon irrevocable notice thereof given to Administrative AgentAgent (which notice shall be irrevocable), who which shall give to each Lender prompt notice thereof, by Borrower not later than 12:00 p.m. on the date three (3) Business Days prior to the date of any such prepayment in the case of a LIBOR Advance and on the date one (1) Business Day prior to the date of such prepayment in the case of a Base Rate Advance; provided provided, however, that (i) each prepayment shall be made on a Pro Rata Basis and (ii) each partial prepayment of the Advances shall be in an aggregate minimum principal amount of at least $10,000,000 100,000,000 or a whole multiple of $1,000,000 in excess thereof. Such Notwithstanding anything in this Section 2.06(a) to the contrary, the notice requirements and prepayment minimum amount requirements shall be given waived with respect to Administrative Agent by Borrower not later than 11:00 a.m. on the date five (5any prepayment made pursuant to Section 2.06(d)(ii)(B) Business Days prior to the date of any such prepayment. For the avoidance of doubt, no Make Whole Amount is payable if the date of prepayment under this clause (a) falls on or after the Make Whole End DateSection 5.11.

Appears in 1 contract

Samples: Margin Loan Agreement (HNA Tourism Group Co., Ltd.)

Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Borrower may prepay the outstanding principal amounts of the AdvancesAdvances (including with Cash held as Collateral), in whole or in part, together with accrued and unpaid interest thereon and any amount due under Section 2.04(b) and/or Section 2.07(f) (and, in an amount equal to the sum case of (i) the principal amount of the Advances being prepaid, (ii) any applicable Make Whole Amount (except that no Make-Whole Amount will apply to a prepayment made by Borrower pursuant to this Section 2.09(a) within ten (10) Business Days of Borrower’s receipt all Advances, all other Obligations that are then due and payable or will become due and payable on account of notice of an adjustment made pursuant to the last paragraph of Section 8.01such prepayment), at any time and (iii) accrued interest from time to the date of such prepayment on the amount prepaid, time upon irrevocable notice thereof given to Administrative AgentAgent (which notice shall be irrevocable), who shall give to each Lender prompt notice thereof, by Borrower not later than 12:00 p.m. on the date three (3) New York Business Days prior to the date of any such prepayment; provided provided, however, that (i) each prepayment shall be made on a Pro Rata Basis and Basis, (ii) each partial prepayment of the Advances shall be either (x) the Total Accrued Loan Amount paid in full or (y) in an aggregate principal amount of at least $10,000,000 or a whole multiple of $1,000,000 in excess thereof. Such notice thereof and (iii) each prepayment shall be given to Administrative Agent accompanied by Borrower not later than 11:00 a.m. on the date five (5) Business Days prior to the date of any such prepayment. For the avoidance of doubt, no applicable Make Whole Amount is payable (if any) and any accrued and unpaid interest on the date portion of the Total Accrued Loan Amount prepaid. Notwithstanding anything in this Section 2.06(a) to the contrary, the notice requirements and prepayment under this clause (aminimum amount requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c)(iii) falls on or after the Make Whole End DateSection 2.06(d)(i)(C).

Appears in 1 contract

Samples: Margin Loan Agreement (True Wind Capital, L.P.)

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Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Borrower may prepay the outstanding principal amounts of the AdvancesAdvances (including with Cash held as Collateral), in whole or in part, in an amount equal to together with accrued and unpaid interest thereon, the sum of (i) the principal amount of the Advances being prepaid, (ii) any applicable Make Whole Amount (except that no Make-Whole Amount will apply to if any) and any amount due under Section 2.07(f) (and, in the case of a prepayment made by Borrower pursuant to this Section 2.09(a) within ten (10) Business Days of Borrower’s receipt all Advances, all other Obligations that are then due and payable or will become due and payable on account of notice of an adjustment made pursuant to the last paragraph of Section 8.01such prepayment), at any time and (iii) accrued interest from time to the date of such prepayment on the amount prepaid, time upon irrevocable notice thereof given to Administrative AgentAgent and Calculation Agent (which notice shall be irrevocable), who shall give to each Lender prompt notice thereof, by Borrower not later than 12:00 p.m. on the date two (2) Business Days prior to the date of any such prepayment; provided provided, however, that (i) each prepayment shall be made on a Pro Rata Basis and (ii) each partial prepayment of the Advances shall be in an aggregate principal amount of at least $10,000,000 1,000,000 or a whole multiple of $1,000,000 in excess thereof. Such Notwithstanding anything in this Section 2.06(a) to the contrary, the notice requirements and prepayment minimum amount requirements shall be given waived with respect to Administrative Agent by Borrower not later than 11:00 a.m. on any prepayment made pursuant to Section 2.06(c) and the date five (5) Business Days prior requirement that the prepayment amount be a whole multiple of $1,000,000 shall be waived with respect to any prepayment made with the date proceeds of any such prepayment. For Permitted Sale Transaction within one Business Day of the avoidance of doubt, no Make Whole Amount is payable if the date of prepayment under this clause (a) falls on or after the Make Whole End Datesettlement thereof.

Appears in 1 contract

Samples: Pledge and Security Agreement (Valor Buyer LP)

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