Principal Payments - Mandatory and Optional Prepayment Sample Clauses

Principal Payments - Mandatory and Optional Prepayment. (i) The Company covenants and agrees that it will monthly pay $4,000.00 principal on the unpaid Louisiana Note on the first day of each month, commencing January 1, 1992 to and including April 1, 2000. All remaining principal thereafter shall be paid May 1, 2000. All mandatory principal payments pursuant to this Section 6.1A shall be made together with interest accrued on the unpaid balance of the Louisiana Note as required in the Louisiana Note, but without prepayment premium. (ii) The Company covenants and agrees that it will monthly pay $96,000.00 principal on the unpaid GMT Note on the first day of each month, commencing January 1, 1992 to and including December 1, 1993, and pay $126,000.00 principal on the unpaid GMT Note on the first day of each month, commencing January 1, 1994 to and (i) The Company may, at its option, prepay the Louisiana Note in part (in integral multiples of $100) on the due date of any interest payment following the first anniversary of the Closing Date without prepayment premium, together with accrued interest as required in the Note to the date of such partial prepayment; provided, however, such partial prepayment or prepayments may not in the aggregate, when combined with any required payments as set forth in Section 6.1A above, exceed twenty percent (20%) of the original principal debt under the Louisiana Note in any one calendar year. Principal shall be applied to the outstanding principal balance in the inverse order of maturity. (ii) The Company may, at its option, prepay the GMT Note in whole or in part (in integral multiples of $10,000) on the due date of a payment at a price equal to the Prepayment Price, as hereafter defined, with accrued interest as required in the GMT Note to the date of such prepayment, provided the Company shall give notice of any such prepayment to the holder of the GMT Note not less than 30 nor more than 60 days prior to the date fixed in such notice for prepayment (the "Prepayment Date"). Principal shall be applied to the outstanding principal balance in the inverse order of maturity. (i) The Company may, at its option, prepay the Louisiana Note in whole (but not in part) on (a) any date other than a date occurring within 90 days after an Interest Rate Adjustment Date at a price equal to the Prepayment Price, as hereafter defined, and (b) any date occurring within 90 days after an Interest Rate Adjustment Date. Any prepayment in full under subparagraph (b) shall be at the principal amount of t...
Sample 1
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Principal Payments - Mandatory and Optional Prepayment. A. The Company covenants and agrees that it will make amortized payments of principal and interest (amortized over a period of twelve years) in the amount of $290,193.59 on the unpaid Note on the first day of each month, commencing April 1, 2002 to and including March 1, 2011. All remaining principal thereafter shall be paid April 1, 2011. All mandatory principal payments pursuant to this Section 6.1.A shall be made together with such amortized interest and such additional interest accrued on the unpaid balance of the Note, but without prepayment premium. B. The Company may, at its option, prepay the Note in whole or in part (in integral multiples of $10,000) on the due date of any payment due after April 1, 2002 at a price equal to the Prepayment Price, as hereafter defined, together with accrued interest to the date of prepayment. The Company shall give notice of any such prepayment to the holder of the Note not less than 30 nor more than 60 days prior to the date fixed in such notice for prepayment ("Prepayment Date"). Principal shall be applied to the outstanding principal balance in the inverse order of maturity. Except as permitted in this Section 6.1.B., the Company shall have no right to prepay the Note in whole or in part.
Sample 1
Principal Payments - Mandatory and Optional Prepayment. The Company covenants and agrees that it will monthly pay combined principal and interest in the amount of $61,000.00 (amortized over 15 years) on the unpaid Note on the first day of each month, commencing on the first day of the second full month subsequent to the Closing Date to and including December 1, 2006. All principal remaining thereafter shall be paid January 1, 2007. All mandatory principal payments pursuant to this Section 6.1A shall be made together with interest as set forth above but without prepayment premium.
Sample 1
Principal Payments - Mandatory and Optional Prepayment. A. The Company covenants and agrees that it will monthly pay combined principal and interest in the amount of $ 37,500.00 (amortized over 15 years) on the unpaid Note on the first day of each month, commencing on the first day of the second full month subsequent to the Closing Date to and including May 1, 2009. All principal remaining thereafter shall be paid June 1, 2009. All mandatory principal payments pursuant to this Section 6.1A shall be made together with interest as set forth above with prepayment premium. B. The Company may, at its option, prepay the Note in whole or in part (in integral multiples of $10,000) on the due date of a payment due after the first day of the second full month subsequent to the Closing Date at a price equal to the Prepayment Price, as hereafter defined, with accrued interest to the date of prepayment. The Company shall give notice of any such prepayment to the holder of the Note not less than 30 nor more than 60 days prior to the date fixed in such notice for prepayment ("Prepayment Date"). Principal shall be applied to the outstanding principal balance in the inverse order of maturity. C. Payments shall be applied to the following, as applicable: prepayment premiums; any accrued interest; the outstanding principal balance of the Note; and any other unpaid portion of the Loan, including, without limitation, for the reimbursement of such costs and expenses provided for in the Collateral Documents.
Sample 1
Principal Payments - Mandatory and Optional Prepayment. (A) The Company covenants and agrees that it will monthly pay $150,000.00 principal on the unpaid Note on the first day of each month, commencing January 1, 2007 to and including November 1, 2020. Such mandatory principal payments on the Note shall be applied to the outstanding Base Rate Tranche and any Swapped Rate Tranches in proportion to the outstanding principal balances of each at the time of each such payment. All remaining principal thereafter shall be paid December 1, 2020. All mandatory principal payments pursuant to this Section 6.1 shall be made together with interest accrued on the unpaid balance of the Note as required in the Note, but without prepayment premium. (B) The Company may, at its option, prepay the Base Rate Tranche in whole or in part (in integral multiples of $10,000) at par on the first day of any Base Rate Interest Period more than twelve (12) months after the date hereof. The Swapped Rate Tranche may be prepaid in whole or in part (in integral multiples of $10,000) on the first day of any month more than twelve (12) months after the date hereof in an amount equal to the Prepayment Price, as hereafter defined, together with accrued interest as required in the Note to the date of such prepayment, provided the Company shall give notice of any such prepayment to the holder of the Note not less than 30 nor more than 60 days prior to the date fixed in such notice for prepayment (the “Prepayment Date”). Principal shall be applied to the outstanding principal balance in the inverse order of maturity. No other prepayments of the Note shall be permitted.
Sample 1

Related to Principal Payments - Mandatory and Optional Prepayment

  • Optional Prepayments with Make-Whole Amount The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than 5% of the aggregate principal amount of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid, and the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of Notes written notice of each optional prepayment under this Section 8.2 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment unless the Company and the Required Holders agree to another time period pursuant to Section 17. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

  • Optional Prepayment of Loans (a) The Borrower shall have the right to prepay the Loans on not less than three (3) Business Days’ prior written notice to the Senior Facility Agent. (b) Any partial prepayment of the Loans under this Section 4.04 shall be in an amount that is not less than twenty million Dollars ($20,000,000). (c) All prepayments under this Section 4.04 shall be made by the Borrower to the Senior Facility Agent for the account of the Senior Lenders and shall be applied by the Senior Facility Agent in accordance with Section 4.04(d). Each notice of optional prepayment shall indicate whether the Loan being prepaid (i) was used for Gas Working Capital Purposes, General Working Capital Purposes or DSR Purposes and (ii) was a Working Capital Loan, Swing Line Loan or an LC Loan. Each notice of optional prepayment will be irrevocable, except that such notice given by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities and/or the issuance of other debt, in which case such notice may be revoked by the Borrower (by notice to the Senior Facility Agent on or prior to the specified effective date) if such condition is not satisfied. The Borrower shall pay any Break Costs incurred by any Senior Secured Party as a result of such notice and revocation. (d) With respect to each prepayment to be made pursuant to this Section 4.04, on the date specified in the notice of prepayment delivered pursuant to Section 4.04(a), the Borrower shall pay to the Senior Facility Agent the sum of the following amounts: (i) the principal of, and accrued but unpaid interest on, the Loans to be prepaid; (ii) any additional amounts required to be paid under Section 5.05 (Funding Losses); and (iii) any other Obligations due to the respective Senior Lenders in connection with any prepayment under the Financing Documents.

  • Prepayments, Etc of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement and (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.02 and refinancings and refundings of such Indebtedness in compliance with Section 7.02(d).

  • Optional Prepayment (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days’ prior written or fax notice (or telephone notice promptly confirmed by written or fax notice) in the case of Eurodollar Loans, or written or fax notice (or telephone notice promptly confirmed by written or fax notice) at least one Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative Agent before 12:00 (noon), New York City time; provided, however, that each partial prepayment shall be in an amount that is an integral multiple of $100,000 and not less than $1,000,000. (b) Optional prepayments of Term Loans shall be allocated among the Term Loans and the Other Term Loans, if any, as determined by the Borrower and shall be applied against the remaining scheduled installments of principal due in respect of the Term Loans under Section 2.11 as instructed by the Borrower in the notice set forth in Section 2.12(c), provided that if such notice omits such instructions, optional prepayments of Term Loans shall be applied pro rata against such remaining scheduled installments of principal due in respect of the Term Loans under Section 2.11. (c) Each notice of prepayment shall specify the prepayment date, the principal amount of each Borrowing (or portion thereof) to be prepaid and instructions with respect to the application under Section 2.12(b) of any prepayments of Term Loans, shall be irrevocable (unless such notice is expressly conditioned upon a refinancing of the Credit Facilities, in which case such notice may be rescinded if such refinancing shall not be consummated or shall otherwise be delayed) and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein. All prepayments under this Section 2.12 shall be subject to Section 2.16 but otherwise without premium or penalty. All prepayments under this Section 2.12 (other than prepayments of ABR Revolving Loans that are not made in connection with the termination or permanent reduction of the Revolving Credit Commitments) shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment.

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative 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 Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, 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 $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Optional Prepayments of Advances The Borrower may, upon at least two Business Days’ notice, in the case of Eurodollar Rate Advances, and upon notice not later than 11:00 A.M. (New York City time) on the date of 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 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 a minimum amount of $5,000,000 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).

  • Optional Principal Payments 8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Mandatory Prepayments Commitment Reductions (a) No later than the tenth calendar day following the date of receipt by any Obligor or any of its Restricted Subsidiaries of any Net Asset Sale Cash Proceeds from any Asset Sale, the Company shall apply all such Net Asset Sale Cash Proceeds to repay any outstanding Loans as set forth in Section 2.13(a); provided that, if the Borrower provides written notice to the Administrative Agent within seven calendar days of the date any such Net Asset Sale Cash Proceeds are so received of its intention to undertake such an investment, then so long as no Event of Default shall have occurred and be continuing, the Company shall have the option, directly or indirectly or through one or more of its Restricted Subsidiaries, to invest such Net Asset Sale Cash Proceeds within twelve months of receipt thereof in assets of the general type used in the business of the Parent and its Restricted Subsidiaries; provided, further, that, if any portion of such Net Asset Sale Cash Proceeds have not been so reinvested at the end of such twelve-month period, the Borrower shall apply an amount equal to the amount of Net Asset Sale Cash Proceeds that have not been so reinvested as set forth in Section 2.13(a). (b) No later than the tenth Business Day following the date of receipt by any Obligor or any of its Restricted Subsidiaries of any Net Equity Issuance Event Cash Proceeds from any Equity Issuance Event, the Company shall apply 33% of all such Net Equity Issuance Event Cash Proceeds (such amount, the “Equity Prepayment Amount”) to repay any outstanding Loans as set forth in Section 2.13(a), and each such prepayment shall be accompanied by a permanent reduction of the Revolving Commitments in an amount equal to such Equity Prepayment Amount. (c) If at any time, the Aggregate Total Exposure exceeds the aggregate Revolving Commitments then in effect, the Borrower shall forthwith prepay first, Loans, and second Cash Collateralize the outstanding amount of Letter of Credit Usage at the Agreed L/C Cash Collateral Amount, to the extent necessary so that the Aggregate Total Exposure shall not exceed the Revolving Commitments then in effect (or, in the case of Letter of Credit Usage, such amounts are fully Cash Collateralized in compliance with the Agreed Cash Collateral Amount). (d) If, after giving effect to any termination of or reduction of the Revolving Commitments, the Letter of Credit Sublimit exceeds the amount of the Revolving Commitments, such sublimit shall be automatically reduced by the amount of such excess (including a corresponding reduction to each Issuing Bank’s Letter of Credit Issuer Sublimit (ratably) unless otherwise agreed by the Borrower and each applicable Issuing Bank).

  • Mandatory Prepayments (a) If at any time, the aggregate principal amount of any Borrower’s Revolving Credit Outstandings exceeds such Borrower’s Revolving Credit Sublimit at such time, such Borrower shall forthwith prepay first, the Swingline Loans and then the Revolving Loans made to such Borrower then outstanding in an aggregate amount equal to such excess. If any such excess remains after repayment in full of the aggregate outstanding Swingline Loans and Revolving Loans made to such Borrower, such Borrower shall provide cash collateral for its then outstanding Letter of Credit Obligations in the manner set forth in Section 8.2 (Actions in Respect of Letters of Credit) in an amount equal to 105% of such excess. (b) If at any time, the aggregate principal amount of Revolving Credit Outstandings exceeds the aggregate Revolving Credit Commitments at such time, each Borrower shall forthwith prepay first, the Swingline Loans and then the Revolving Loans made to such Borrower then outstanding in an aggregate amount equal to (i) the percentage obtained by dividing the aggregate outstanding principal balance of the Revolving Credit Outstandings owing by such Borrower by the aggregate outstanding principal balance of the Revolving Credit Outstandings owing by all Borrowers multiplied by (ii) the aggregate amount of such excess. If any such excess remains after repayment in full of the aggregate outstanding Swingline Loans and Revolving Loans, each Borrower shall provide cash collateral for its then outstanding Letter of Credit Obligations in the manner set forth in Section 8.2 (Actions in Respect of Letters of Credit) in an amount equal to 105% of (A) the percentage obtained by dividing the aggregate outstanding amount of the Letter of Credit Obligations owing by such Borrower by the aggregate outstanding amount of the Letter of Credit Obligations owing by all Borrowers multiplied by (B) the aggregate amount of such excess.

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