Repayments and Prepayments Generally; Application Sample Clauses
The "Repayments and Prepayments Generally; Application" clause defines how and when a borrower must repay or prepay amounts owed under a loan agreement, as well as the order in which such payments are applied to outstanding obligations. It typically outlines the procedures for making scheduled repayments, voluntary prepayments, and may specify whether prepayments are permitted without penalty or require advance notice. Additionally, the clause details how payments are allocated among principal, interest, fees, and other charges. Its core function is to provide clear rules for the timing and application of payments, thereby reducing confusion and potential disputes between the parties.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled amortization payments of principal on the Term Loan prior to the second (2nd) anniversary of the Closing Date.
(b) Commencing with the Payment Date occurring immediately after the second (2nd) anniversary of the Closing Date and on each Payment Date occurring thereafter, the Borrower shall make a scheduled amortization payment of principal on the Term Loan in an amount equal to 1.0% of the aggregate principal amount of the Term Loan borrowed on the Closing Date.
(c) Any term or provision hereof to the contrary notwithstanding, on the Maturity Date the Borrower shall repay the entire remaining outstanding balance of the Term Loan in full in cash.
(d) The Borrower agrees that the Term Loan, and any fees or interest accrued or accruing thereon, shall be repaid and prepaid solely in Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, each payment (including each repayment and prepayment) by the Borrower will be deemed to be made ratably in accordance with the Lenders’ Proportionate Share.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled repayments of principal on the Loans prior to May 31, 2024. Thereafter, on each Payment Date occurring prior to the scheduled Maturity Date (and commencing on the fourth anniversary of the Closing Date), the Borrower shall make a payment of principal on the Loans in an amount equal to three percent (3.00%) of the aggregate original principal amount of all Loans made on and after the Closing Date and as of such Payment Date. On the Maturity Date the Borrower shall repay the entire remaining outstanding balance of the Loans in full and in cash.
(b) The Borrower agrees that all amounts payable hereunder or under any other Loan Document, in respect of any Loans, fees or interest accrued or accruing thereon, or any other Obligations, shall be repaid and prepaid solely in Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, proceeds of each payment (including each repayment and prepayment of Loans) by the Borrower shall be deemed to be made ratably to the Lenders in accordance with their respective Proportionate Shares of the Loans being repaid or prepaid.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled amortization payments of principal on the Term Loan prior to the second (2nd) anniversary of the Closing Date.
(b) Commencing with the Payment Date occurring immediately after the second (2nd) anniversary of the Closing Date and on each Payment Date occurring thereafter, the Borrower shall make a scheduled amortization payment of principal on the Closing Date Term Loan in an amount equal to 1.0% of the aggregate principal amount of the Closing Date Term Loan borrowed on the Closing Date.
(c) Any term or provision hereof to the contrary notwithstanding, (i) on the Maturity Date the Borrower shall repay the entire remaining outstanding balance of the Closing Date Term Loan in full in cash, (ii) on the First Amendment Maturity Date the Borrower shall repay the entire remaining outstanding balance of the First Amendment Term Loan (including accrued and uncapitalized PIK Interest on the First Amendment Term Loan) in full in cash, and (iii) on the Second Amendment Maturity Date the Borrower shall repay the entire remaining outstanding balance of the Second Amendment Term Loan (including accrued and uncapitalized PIK Interest on the Second Amendment Term Loan) in full in cash.
(d) The Borrower agrees that the Term Loan, and any fees or interest accrued or accruing thereon, shall be repaid and prepaid solely in Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, each payment (including each repayment and prepayment) by the Borrower will be deemed to be made ratably in accordance with the Lenders’ Proportionate Share.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled repayments of the principal on the Loans prior to the Maturity Date. On the Maturity Date the Borrower shall repay the entire remaining outstanding principal balance of the Loans, together with all accrued and unpaid interest and fees, including all applicable accrued and unpaid (or payable) Prepayment Premiums and accrued and unpaid interest thereon, as applicable, in full and in cash.
(b) The Borrower agrees that all amounts payable hereunder or under any other Loan Document, in respect of any Loans, fees or interest accrued or accruing thereon, or any other Obligations, shall be repaid and prepaid solely in Dollars and no other currency. Except as otherwise provided in this Agreement, proceeds of each payment (including each repayment and prepayment of Loans) by or on behalf of the Borrower shall be deemed to be made ratably to the Lenders in accordance with their respective Proportionate Shares of the Loans being repaid or prepaid.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled repayments of principal on the Loans prior to the Maturity Date. On the Maturity Date, the Borrower shall repay the entire remaining outstanding balance of the Loans in full and in cash.
(b) The Borrower agrees that all amounts payable hereunder or under any other Loan Document, whether in respect of any Loans, fees, or interest accrued or accruing thereon, or any other Obligations, shall be repaid and prepaid solely in Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, proceeds of each payment (including each repayment and prepayment) by the Borrower on any Loans shall be (i) applied pro rata among the Initial Loan and the Delayed Draw Loans, and (ii) deemed to be made ratably to the Lenders in accordance with their respective Proportionate Shares.
Repayments and Prepayments Generally; Application. The Borrower hereby promises to pay to the Administrative Agent for the account of each Lender (as such amounts may in each case be reduced from time to time in accordance with Section 3.03) on the Maturity Date, all outstanding Obligations in full (in each case, together with accrued and unpaid interest and any other accrued and unpaid charges thereon and all other obligations due and payable by the Borrower under this Agreement) (other than inchoate indemnity and expense reimbursement obligations for which no claim has been made). Except as otherwise provided in this Agreement, each payment (including each repayment and prepayment) by the Borrower (other than fees payable pursuant to the Fee Letter) will be deemed to be made ratably in accordance with the Lenders’ Proportionate Shares. On any date occurring prior to the Maturity Date that payment or prepayment in full of the Loans hereunder occurs, the Borrower shall pay in full all outstanding Obligations.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled repayments of principal on the Loans prior to the Maturity Date. On the Maturity Date the Borrower shall repay the entire remaining outstanding balance of the Loans in full and in cash.
(b) The Borrower agrees that all amounts payable hereunder or any other Loan Document, whether in respect of principal, interest, fees, costs, expenses, indemnities or otherwise, shall be payable solely in Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, each payment (including each repayment and prepayment) by the Borrower will be deemed to be made ratably in accordance with the Lenders’ Proportionate Shares.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled repayments of principal on the Loan prior to the Maturity Date.
(b) On the Maturity Date, the Borrower shall repay the entire remaining outstanding principal balance of the Loan in full and in cash.
(c) The Borrower agrees that all amounts payable hereunder or under any other Loan Document, in respect of the Loan, fees or interest accrued or accruing thereon, or any other Obligations, shall be repaid and prepaid solely in Dollars pursuant to the terms of this. Except as otherwise provided in this Agreement, proceeds of each payment (including each repayment and prepayment of the Loan) by the Borrower shall be deemed to be made ratably to the Lenders in accordance with their respective Proportionate Shares of the Loan being repaid or prepaid.
Repayments and Prepayments Generally; Application. (a) There will be no scheduled amortization payments of principal on the Loans prior to the Maturity Date.
(b) Any term or provision hereof to the contrary notwithstanding, on the Maturity Date the Borrower shall repay the entire remaining outstanding balance of the Loans in full in cash.
(c) The Borrower agrees that all amounts payable hereunder or any other Loan Document, whether in respect of principal, interest, fees, costs, expenses, indemnities or otherwise, shall be payable solely in Dollars pursuant to the terms of this Section 3. Except as otherwise provided in this Agreement, each payment (including each repayment and prepayment) by the Borrower will be deemed to be made ratably in accordance with the Lenders’ Proportionate Shares.
Repayments and Prepayments Generally; Application. (a) Until the first Payment Date occurring after October 31, 2027, there will be no scheduled repayments of the principal on the Loans. On each Payment Date occurring after October 31, 2027 and prior to the scheduled Maturity Date, the Borrower shall make a payment of principal on the Loans (each an “Amortization Payment”) in an amount equal to three percent (3.00%) of the aggregate principal amount of the Loans outstanding as of such Payment Date, together with accrued and unpaid interest and fees thereon. In any event, and without limiting the foregoing, on the Maturity Date the Borrower shall repay the entire remaining outstanding principal balance of the Loans, together with all accrued and unpaid interest and fees, including all applicable accrued and unpaid (or payable) Early Prepayment Fees and accrued and unpaid interest thereon, as applicable, in full and in cash.
(b) The Borrower agrees that all amounts payable hereunder or under any other Loan Document, in respect of any Loans, fees or interest accrued or accruing thereon, or any other Obligations, shall be repaid and prepaid solely in Dollars and no other currency. Except as otherwise provided in this Agreement, proceeds of each payment (including each repayment and prepayment of Loans) by or on behalf of the Borrower shall be deemed to be made ratably to the Lenders in accordance with their respective Proportionate Shares of the Loans being repaid or prepaid.