Common use of Prepayments of Advances Clause in Contracts

Prepayments of Advances. The Borrower may, upon notice at least two Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 1:00 p.m. (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Notwithstanding the foregoing, any such notice may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations in respect thereof, if any, under Section 8.04(c).

Appears in 3 contracts

Samples: Credit Agreement (Autodesk Inc), Credit Agreement (Autodesk Inc), Credit Agreement (Autodesk Inc)

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Prepayments of Advances. (a) The Borrower may, may (i) upon notice at least two Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate Advances, Advances and not later than 1:00 p.m. (New York City timeii) on the date of such prepaymentsame Business Day, in the case of Base Rate Advances, notice to the Agent (to be received by the Agent prior to 12:00 noon (New York City time)) stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaidprepaid (provided that any prepayment in connection with the termination and refinancing of this Agreement may be conditioned on the closing of such refinancing); provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of not less than $10,000,000 15,000,000 if made with respect to Eurodollar Rate Advances, or an integral multiple of $1,000,000, if made with respect to Base Rate Advances, and in each case in $1,000,000 integral multiples in excess thereof and (y) in the event case of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Notwithstanding the foregoing, any such notice may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations in respect thereof, if any, under Section 8.04(c10.04(b). (b) The right of any Subsidiary Borrower to prepay any Swing Line Advance shall be as set forth in an agreement between the respective Swing Line Lender and the respective Subsidiary Borrower.

Appears in 2 contracts

Samples: Credit Agreement (Gap Inc), Credit Agreement (Gap Inc)

Prepayments of Advances. The Borrower may, at any time and from time to time without premium or penalty (but subject to Section 8.04(c)), upon notice at least two Business Days’ prior to the date of such prepayment, in the case of Eurodollar Rate Advances, and not later than 1:00 p.m. (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Notwithstanding the foregoing, any such notice may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations in respect thereof, if any, under Section 8.04(c).

Appears in 2 contracts

Samples: Credit Agreement (Autodesk, Inc.), Credit Agreement (Autodesk Inc)

Prepayments of Advances. (a) The Borrower may, may (i) upon notice at least two Business Days’ prior to the date of such prepayment', in the case of Eurodollar Rate Advances, Advances and not later than 1:00 p.m. (New York City timeii) on the date of such prepaymentsame Business Day, in the case of Base Rate Advances, notice to the Agent (to be received by the Agent prior to 12:00 noon (New York City time)) stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaidprepaid (provided that any prepayment in connection with the termination and refinancing of this Agreement may be conditioned on the closing of such refinancing); provided, however, that -------- ------- (x) each partial prepayment shall be in an aggregate principal amount of not less than $10,000,000 15,000,000 if made with respect to Eurodollar Rate Advances, or an integral multiple of $1,000,000, if made with respect to Base Rate Advances, and in each case in $1,000,000 integral multiples in excess thereof and (y) in the event case of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Notwithstanding the foregoing, any such notice may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations in respect thereof, if any, under Section 8.04(c10.04(b). (b) The right of any Subsidiary Borrower to prepay any Swing Line Advance shall be as set forth in an agreement between the respective Swing Line Lender and the respective Subsidiary Borrower.

Appears in 1 contract

Samples: Credit Agreement (Gap Inc)

Prepayments of Advances. (a) The Borrower may, shall have no right to prepay any principal amount of any Advance other than as provided in (b) below. (b) The Borrower may (i) upon notice at least two Business Days’ prior to three days after the date of such prepayment, in Borrowing and upon notice given to the case of Eurodollar Rate Advances, and Administrative Agent not later than 1:00 p.m. 11:00 A.M. (New York City time) on the date of such prepaymentthe proposed prepayment (which date shall be a Business Day), stating the proposed date and aggregate principal amount of the prepayment in the case of Base Rate Advances, Advances or (ii) upon at least two Business Days' notice given to the Administrative Agent stating the proposed date and aggregate principal amount of the prepaymentprepayment in the case of Eurodollar Rate Advances, and if such notice is given the Borrower shall, prepay the outstanding principal amount amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaidprepaid and, in the case of Eurodollar Rate Advances, any additional losses, costs or expenses, if any, required to be paid by the Borrower pursuant to Section 8.04(b); provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of not less than $10,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Notwithstanding the foregoing, any such notice may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations in respect thereof, if any, under Section 8.04(c).

Appears in 1 contract

Samples: Revolving Credit Agreement (Corn Products International Inc)

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Prepayments of Advances. The (a) Any Borrower may, upon notice at least two Business Days’ prior to the date of such prepayment, in the case of Eurodollar Eurocurrency Rate Advances, and not later than 1:00 p.m. 11:00 A.M. (New York City time) on the date of such prepayment, in the case of Base Rate Advances, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the such Borrower shall, prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of not less than $10,000,000 or an integral a multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Eurocurrency Rate Advance, the applicable Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c9.04(c). Notwithstanding . (b) Each prepayment made pursuant to Section 2.05 and this Section 2.09 shall be made together with any interest accrued to the foregoingdate of such prepayment on the principal amounts prepaid and, in the case of any prepayment of a Eurocurrency Rate Advance on a date other than the last day of an Interest Period or at its maturity, any such notice may state that such notice is conditioned upon additional amounts which the occurrence of one or more events specified therein, in which case such notice may applicable Borrower shall be revoked by the Borrower (by notice obligated to reimburse to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations Lenders in respect thereof, if any, under thereof pursuant to Section 8.04(c9.04(c).

Appears in 1 contract

Samples: Term Loan Agreement (PPG Industries Inc)

Prepayments of Advances. (a) The Borrower may, may (i) upon notice at least two Business Days’ prior to the date of such prepayment', in the case of Eurodollar Rate Advances, Advances and not later than 1:00 p.m. (New York City timeii) on the date of such prepaymentsame Business Day, in the case of Base Rate Advances, notice to the Agent (to be received by the Agent prior to 12:00 noon (New York City time)) stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amount amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaidprepaid (provided that any prepayment in connection with the termination and refinancing of this Agreement may be conditioned on the closing of such refinancing); provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of not less than $10,000,000 if made with respect to Eurodollar Rate Advances, or an integral multiple of $1,000,000, if made with respect to Base Rate Advances, and in each case in $1,000,000 integral multiples in excess thereof and (y) in the event case of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c). Notwithstanding 10.04(b) hereof. (b) The right of any Subsidiary Borrower to prepay any Swing Line Advance shall be as set forth in an agreement between the foregoing, any such notice may state that such notice is conditioned upon respective Swing Line Lender and the occurrence of one or more events specified therein, in which case such notice may be revoked by the Borrower (by notice to the Agent on or prior to the specified date of termination or reduction) if such condition is not satisfied, provided that any revocation of a notice of prepayment shall not relieve the Borrower of its obligations in respect thereof, if any, under Section 8.04(c)respective Subsidiary Borrower.

Appears in 1 contract

Samples: Credit Agreement (Gap Inc)

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