Prepayments Payments. 1.4.1. The Borrower shall have the right to make prepayments at any time of the principal amount of any Loan, in whole or in part, without notice. Each prepayment shall be without premium or penalty.
1.4.2. The Borrower shall make all payments of principal and interest under this Note to the Lender at such location as the Lender may direct in immediately available funds. If any payment of principal or interest on this Note shall become due on a day other than a Business Day, such payment shall be due and payable upon the next succeeding Business Day and such extension of time shall in such case be included in computing interest in connection with such payment.
Prepayments Payments. (a) Borrower shall have the right to prepay the Loans, without premium or penalty, in whole or in part at any time and from time to time.
(b) In addition to other mandatory repayments, and subject to Section 11.4 hereof, Borrower shall be required to repay the entire outstanding principal balance and all accrued but unpaid interest on the Loan on the Maturity Date.
(c) Except as provided in Section 2.3(d) and (e) hereinbelow, on each Joint Venture Distribution Date, Borrower shall pay to Lender an amount equal to one hundred percent (100%) of any Joint Venture Distributions as a mandatory repayment of principal and accrued interest on the outstanding Loan until such principal and accrued interest is repaid in full.
(d) Upon written request of Borrower and the approval of Lender, Borrower may retain Joint Venture Distributions which it may use for the purposes permitted in the Cash Collateral Agreement; provided, that Olympus shall make a reasonable determination of the net collateralization of the Loan relative to all of Borrower's Joint Venture interests and may condition its approval of such retention by Borrower on the establishment of a cash collateral reserve in a reasonable amount (the "Cash Collateral Account"), which shall serve as additional security for the Loan, pursuant to a cash collateral agreement with Lender (the "Cash Collateral Agreement") to allow Lender adequate protection for repayment of the Loan. Withdrawal rights for Borrower from the Cash Collateral Account will be specified in the Cash Collateral Agreement.
(e) Borrower may upon written notice to Lender, retain an amount of Joint Venture Distributions equal to any cash interest required to be paid by Borrower pursuant to this Agreement and for any taxes for which Borrower is liable, provided that any such amounts shall be retained by Borrower with recourse and such written notice shall specify in reasonable detail the relevant terms of request to retain such amounts.
(f) To the extent that, at any time, there is no outstanding Indebtedness owed under the Loan, all Joint Venture Distributions shall be made to Borrower and Borrower shall be permitted to pay such amounts to Parent either to repay Indebtedness owed by Borrower to Parent or as a dividend.
(g) Any reserve accounts established pursuant to this Section 2.3 shall be invested in money market accounts pursuant to instructions from the Borrower and shall accrue interest thereon.
Prepayments Payments. Taxes 23 4.01 Voluntary Prepayments 23 4.02 Mandatory Repayments 24 4.03 Method and Place of Payment 25 4.04 Net Payments 26
Prepayments Payments. Taxes 16 4.01
Prepayments Payments. 14 2.4 Conversion into Parent Common Stock................. 15 2.5 Payments After Event of Default..................... 15
Prepayments Payments. ** indicates information which has been omitted pursuant to a confidential treatment request filed separately with the Commission.
Prepayments Payments. 24 Section 2.9....................................................................Method and Place of Payment 25 Section 2.10..........................................................................................Fees 25 Section 2.11.............................................................................Increased Capital 26 Section 2.12.........................................................................................Taxes 26 Section 2.13......................................................................Change of Lending Office 27 Section 2.14 .........................Participation Purchased by Lenders in the Letter of Credit Liability 28 Section 2.15............................................................................Priority and Liens 29 Section 2.16.............................................................................Professional Fees 30 Section 2.17........................................................................Payment of Obligations 31 Section 2.18..............................................................No Discharge; Survival of Claims 31
Prepayments Payments. 18 SECTION 2.05 Interest.................................................................................20 SECTION 2.06 Continuations, Interest Rate Determination...............................................20 SECTION 2.07 Fees.....................................................................................21 SECTION 2.08 Increased Costs, Etc.....................................................................21 SECTION 2.09 Payments and Computations................................................................23 SECTION 2.10 Taxes....................................................................................24 SECTION 2.11 Sharing of Payments, Etc.................................................................27
Prepayments Payments. Taxes; Application of Proceeds 16
4.01 Voluntary Prepayments 16 4.02 Mandatory Prepayments 17 4.03 Method and Place of Payment 17 4.04 Net Payments; Taxes 17 4.05 Application of Proceeds 19 SECTION 5. Conditions Precedent to the Credit Events 20 5.01 Effective Date; Notes 20 5.02 Validity of Liens 20 5.03 [Reserved]. 20
Prepayments Payments. (a) Publisher shall have the right voluntarily to prepay the Loans in whole or in part from time to time without premium or penalty, but together with all interest owing on the amount being prepaid, in principal amounts not less than $250,000, provided that Publisher shall give Distributor written notice (or telephonic notice promptly confirmed in writing), of its intent to prepay all or part of the Loans, at least one Business Day prior to such prepayment, which notice shall specify the amount of such prepayment.
(b) On each Payment Date, Publisher shall be required to make a principal prepayment on the Loans in an amount equal to 32.5% of Net Receipts for the previous fiscal month of Distributor. Each mandatory prepayment of principal required to be made on each Payment Date shall be deducted, pursuant to Section 5.3(a)(v) hereof, from the amount otherwise payable to the Publisher pursuant to Section 5.3, and may, in the Distributor's sole discretion, be set off against amounts otherwise payable to Publisher under Section 5.3(a). Each such deduction and application shall be made third in order of priority, following deduction of the Service Fee and accrued interest then payable; provided, however, that nothing contained herein shall limit, extinguish or reduce the Publisher's unconditional, general obligation to repay all amounts owing from time to time hereunder or under the other Loan Documents.
(c) All payments to be made to Distributor by Publisher under this Agreement (including, without limitation, under this Article VI), shall be made by Publisher without set-off, counterclaim or any other deduction by Publisher. Notwithstanding any other provision of this Agreement, all amounts payable by customers or any other Person in connection with Distribution of the Products shall be payable directly to Distributor for deposit to the Collateral Account (as defined in the Security Agreement of Publisher), for distribution in accordance with the terms hereof and thereof, and to the extent of any inconsistency between any Security Agreement and this Agreement, the terms of the relevant Security Agreement shall govern and control. All payments shall be made in lawful money of the United States of America in immediately available funds to such account as may be specified from time to time in writing to Publisher.
