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 (including with Cash held as Collateral), in whole or in part, together with accrued and unpaid interest thereon, and any amount due under Section 2.07(f) (and, in the case of a prepayment of all Advances, all other Obligations that are then due and payable or will become due and payable on account of such prepayment), at any time and from time to time upon notice thereof given to Administrative Agent (which notice shall be irrevocable), who shall give to each Lender prompt notice thereof, by Borrower not later than 4:00 p.m. on the date two (2) Business Days prior to the date of any such prepayment; 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 $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Notwithstanding anything in this Section 2.06(a) to the contrary, the prepayment minimum amount requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c) or 2.06(d)(i)(B) and the notice requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c). If Administrative Agent receives less than one Business Day’s notice of any prepayment to be made pursuant to Section 2.06(c) it shall use commercially reasonable best efforts to process such prepayment on the Business Day received and, in any event, on the following Business Day.

Appears in 1 contract

Samples: Security Agreement (Valor Parent LP)

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Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Borrower may prepay the outstanding principal amounts of the Advances (including with Cash held as Collateral), in whole or in part, together with accrued and unpaid interest thereon, thereon and any amount due under Section 2.07(f) (and, in the case of a prepayment of all Advances, all other Obligations that are then due and payable or will become due and payable on account of such prepayment), at any time and from time to time upon notice thereof given to Administrative Agent (which notice shall be irrevocable), who shall give to each Lender prompt notice thereof, by Borrower not later than 4:00 5:00 p.m. on the date two (2) Business Days prior to the date of any such prepayment; 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 $5,000,000 or a whole multiple of $1,000,000 in excess thereof. Notwithstanding anything in this Section 2.06(a) to the contrary, the notice requirements and prepayment minimum amount requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c2.06(d)(ii) or 2.06(d)(i)(B) and the notice requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c2.06(e)(i)(B). If Administrative Agent receives less than one Business Day’s notice of any prepayment to be made pursuant to Section 2.06(c) it shall use commercially reasonable best efforts to process such prepayment on the Business Day received and, in any event, on the following Business Day.

Appears in 1 contract

Samples: Margin Loan Agreement (KKR Fund Holdings L.P.)

Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Borrower may prepay the outstanding principal amounts of the Advances (including with Cash held as Collateral), in whole or in part, together with accrued and unpaid interest thereon, thereon and any amount due under Section 2.07(f) (and, in the case of a prepayment of all Advances, all other Obligations that are then due and payable or will become due and payable on account of such prepayment), at any time and from time to time upon written notice thereof given to Administrative Agent (which notice shall be irrevocable), who shall give to each Lender prompt notice thereof, by Borrower not later than 4:00 12:00 p.m. on the date two (2) five Business Days prior to the date of any such prepayment; 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 $5,000,000 25,000,000 or a whole multiple of $1,000,000 in excess thereofthereof (or, if less, the remaining Total Accrued Loan Amount). Notwithstanding anything in this Section 2.06(a) to the contrary, the notice requirements and prepayment minimum amount requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c), Section 2.06(d)(i)(A) or 2.06(d)(i)(B) and the notice requirements shall be waived with respect to any prepayment made Section 5.10. Advances prepaid pursuant to this Section 2.06(c). If Administrative Agent receives less than one Business Day’s notice of any prepayment to 2.06 may not be made pursuant to Section 2.06(c) it shall use commercially reasonable best efforts to process such prepayment on the Business Day received and, in any event, on the following Business Dayre-borrowed.

Appears in 1 contract

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

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Prepayments of Advances; Collateral Shortfall; Withdrawal of Collateral. (a) Any Borrower may prepay the outstanding principal amounts of the Advances (including with Cash held as Collateral), in whole or in part, together with accrued and unpaid interest thereon, thereon and any amount due under Section 2.07(f) (and, in the case of a prepayment of all Advances, all other Obligations that are then due and payable or will become due and payable on account of such prepayment), at any time and from time to time upon notice thereof given to Administrative Agent (which notice shall be irrevocable), who shall give to each Lender prompt notice thereof, by such Borrower not later than 4:00 12:00 p.m. on the date two (2) Business Days prior to the date of any such prepayment; 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 $5,000,000 2,000,000 or a whole multiple of $1,000,000 500,000 in excess thereof. Notwithstanding anything in this Section 2.06(a) to the contrary, the notice requirements and prepayment minimum amount requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c) or 2.06(d)(i)(B) and the notice requirements shall be waived with respect to any prepayment made pursuant to Section 2.06(c). If Administrative Agent receives less than one Business Day’s notice of any prepayment to be made pursuant to Section 2.06(c) it shall use commercially reasonable best efforts to process such prepayment on the Business Day received and, in any event, on the following Business Day.

Appears in 1 contract

Samples: Margin Loan Agreement (Blackstone Holdings III L.P.)

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