Prepayments of Loans. (a) The Borrower shall have no right to prepay any principal amount of any Loan other than as provided in subsection (b) below. (b) The Borrower may, on notice (given not later than 11:00 a.m. (New York City time) on the second Business Day prior to the date of the proposed prepayment of Loans (in the case of an Eurodollar Rate Loans) or given not later than 11:00 a.m. (New York City time) on the Business Day of the proposed prepayment of Loans (in the case of Base Rate Loans)), stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amounts of the Loans 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 (i) each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 or integral multiples of $1,000,000 in excess thereof and (ii) in the case of any such prepayment of a Eurodollar Rate Loan on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders in respect thereof pursuant to Section 2.17.
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Samples: Revolving Credit Agreement (Legg Mason Inc), Credit Agreement (Legg Mason Inc)
Prepayments of Loans. (a) The Borrower shall have no right to prepay any principal amount of any Loan other than as provided in subsection (b) below.
(b) The Borrower may, on notice (given not later than 11:00 a.m. (New York City time) on the second Business Day prior to the date of the proposed prepayment of Loans (in the case of an Eurodollar Rate Loans) or given not later than 11:00 a.m. (New York City time) on the Business Day of the proposed prepayment of Loans (in the case of Base Rate Loans)), stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amounts of the Loans 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 (i) each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 or integral multiples of $1,000,000 in excess thereof and (ii) in the case of any such prepayment of a Eurodollar Rate Loan on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders in respect thereof pursuant to Section 2.17.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Legg Mason Inc), 5 Year Revolving Credit Agreement (Legg Mason, Inc.)
Prepayments of Loans. (a) The Borrower shall have no right to prepay any principal amount of any Loan Loans other than as provided in subsection clause (b) below.
(b) The Borrower may, on notice (given not later than 11:00 a.m. A.M. (New York City time) on the second third Business Day prior to the date of the proposed prepayment of Loans (in the case of an Eurodollar Rate Loans) or given not later than 11:00 a.m. A.M. (New York City time) on the Business Day of the proposed prepayment of Loans (in the case of Base Rate ABR Loans)), stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amounts of the Loans 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 (ix) each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 2,500,000 or an integral multiples multiple of $1,000,000 in excess thereof and (iiy) in the case of any such prepayment of a Eurodollar Rate Loan on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders in respect thereof pursuant to Section 2.178.04(c).
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Prepayments of Loans. (a) The Borrower shall have no right to prepay any principal amount of any Loan other than as provided in subsection (b) below.
(b) The Borrower may, on notice (given not later than 11:00 a.m. (New York City time) on the second Business Day prior to the date of the proposed prepayment [[NYCORP:3318923v15:3100C: 06/26/2012--05:12 p]] of Loans (in the case of an Eurodollar Rate Loans) or given not later than 11:00 a.m. (New York City time) on the Business Day of the proposed prepayment of Loans (in the case of Base Rate Loans)), stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amounts of the Loans 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 (i) each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 or integral multiples of $1,000,000 in excess thereof and (ii) in the case of any such prepayment of a Eurodollar Rate Loan on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders of the applicable Class in respect thereof pursuant to Section 2.172.18.
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Samples: Credit Agreement (Legg Mason, Inc.)
Prepayments of Loans. (a) The Borrower shall have no right to prepay any principal amount of any Loan other than as provided in subsection (b) below.
(b) The Borrower may, on notice (given not later than 11:00 a.m. (New York City time) on the second Business Day prior to the date of the proposed prepayment of Loans (in the case of an Eurodollar Rate Loans) or given not later than 11:00 a.m. (New York City time) on the Business Day of the proposed prepayment of Loans (in the case of Base Rate Loans)), stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amounts of the Loans 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 (i) each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 or integral multiples of $1,000,000 in excess thereof and (ii) in the case of any such prepayment of a Eurodollar Rate Loan on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders in respect thereof pursuant to Section 2.17. Amounts prepaid hereunder may not be reborrowed; provided that, notwithstanding the foregoing, prepayments of the Initial Term Loan, if any, shall not prohibit the Borrowing of the Delayed Term Loan.
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Prepayments of Loans. (a) The Borrower shall have no right to prepay any principal amount of any Loan other than as provided in subsection (b) below.
(b) The Borrower may, on notice (given not later than 11:00 a.m. (New York City time) on the second Business Day prior to the date of the proposed prepayment of Loans (in the case of an Eurodollar Rate Loans) or given not later than 11:00 a.m. (New York City time) on the Business Day of the proposed prepayment of Loans (in the case of Base Rate Loans)), stating the proposed date and aggregate principal amount of the prepayment, and if such notice is given the Borrower shall, prepay the outstanding principal amounts of the Loans 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 (i) each partial prepayment shall be in an aggregate principal amount not less than $5,000,000 or integral multiples of $1,000,000 in excess thereof and (ii) in the case of any such prepayment of a Eurodollar Rate Loan on a day other than the last day of an Interest Period therefor, the Borrower shall reimburse the Lenders in respect thereof pursuant to Section 2.17. Amounts prepaid hereunder may not be reborrowed.
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Samples: Term Loan Agreement (Legg Mason Inc)