Right of Prepayment Clause Samples
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Right of Prepayment and cancellation in relation to a single Lender
(a) If:
(i) any sum payable to any Lender by an Obligor is required to be increased under paragraph (a) of Clause 12.2 (Tax gross-up);
(ii) any Lender claims indemnification from the Company under Clause 12.3 (Tax indemnity) or Clause 13.1 (Increased Costs); or
(iii) any Lender is a Defaulting Lender, the Company may, whilst the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent notice of cancellation of the Commitment(s) of that Lender and its intention to procure the prepayment of that Lender’s participation in the Loans or give the Agent notice of its intention to replace that Lender in accordance with paragraph (d) below.
(b) On receipt of a notice of cancellation referred to in paragraph (a) above, the Available Commitment(s) of that Lender shall be immediately reduced to zero.
(c) On the last day of each Interest Period which ends after the Company has given notice of cancellation under paragraph (a) above (or, if earlier, the date specified by the Company in that notice), the Company shall prepay that Lender’s participation in that Loan and that Lender’s corresponding Commitment(s) shall be immediately cancelled in the amount of the participations repaid.
(d) If:
(i) any of the circumstances set out in paragraph (a) above apply to a Lender;
(ii) any Lender becomes a Non-Consenting Lender (as defined in paragraph (h) below);
(iii) a Lender gives the notice referred to in paragraph (a)(iv) of Clause 7.2 (Change of control);
(iv) an Obligor becomes obliged to pay any amount in accordance with Clause 7.1 (Illegality) to any Lender; or
(v) an Existing Lender intends to assign any of its rights or transfer by novation any of its rights and obligations to an entity on the Restricted List in accordance with paragraph (d) of Clause 23.2 (Conditions of assignment or transfer), the Company may, on five (5) Business Days’ prior notice to the Agent and that Lender, replace that Lender by requiring that Lender to (and, to the extent permitted by law, that Lender shall) transfer pursuant to Clause 23 (Changes to the Lenders) all (and not part only) of its rights and obligations under the Finance Documents to a Lender or other bank, financial institution, trust, fund or other entity selected by the Company which (A) is not a member of the Group and (B) confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance ...
Right of Prepayment. The Company at its option shall have the right to prepay, with three (3) business days advance written notice, a portion or all outstanding principal of the Note.
Right of Prepayment and cancellation in relation to a single Lender: delete Clause 10.7(c) and replace it with the following: “UPC Broadband may only exercise its rights under paragraphs (a)(i) and (a)(ii) above, if the circumstance giving rise to the requirement or indemnification continues.”
Right of Prepayment. The Borrower shall be entitled to prepay at any time the outstanding balance of Loan Advances.
Right of Prepayment. The Company may prepay a portion or all outstanding principal and interest of the Note upon written consent of the Holder.
Right of Prepayment. At any time and from time to time while any portion of the Pre-Paid Advances is outstanding, the Company at its option shall have the right, but not the obligation, to repay (“Optional Prepayment”) early a portion or all amounts outstanding under the Pre-Paid Advances in cash as described in this Section; provided that the Company provides the Investor with written notice (each, a “Prepayment Notice”) of its desire to exercise an Optional Prepayment, which Prepayment Notice (i) shall be delivered to the Investor after the close of regular trading hours on a Trading Day, and (ii) may only be given if the VWAP of the Common Shares was less than the Fixed Price on the date such Prepayment Notice is delivered, unless otherwise agreed by the Investor. Each Prepayment Notice shall be irrevocable and shall specify the outstanding balance of the Pre-Paid Advances to be repaid and the Prepayment Amount. The “Prepayment Amount” shall be an amount equal to the outstanding principal balance being repaid by the Company, plus the Payment Premium in respect of such principal amount, plus all accrued and unpaid interest, if any, on such principal amount. After receipt of a Prepayment Notice, the Investor shall have five (5) Trading Days (beginning with the Trading Day immediately following the date of such Prepayment Notice) to elect to deliver Purchase Notices to the Company in respect of any portion of the Pre-Paid Advances outstanding in accordance with this Agreement. On the sixth (6th) Trading Day after the applicable Prepayment Notice, the Company shall deliver to the Investor the Prepayment Amount with respect to the principal amount prepaid after giving effect to Purchase Notices delivered during the applicable five (5) Trading Day period.
Right of Prepayment. Purchaser shall have the right to pre-pay ------------------- any Indebtedness existing as of the Closing Date.
Right of Prepayment. The Company may prepay a portion or all outstanding principal and interest of the Note at anytime.
Right of Prepayment. The Borrower shall have the right to prepay the Principal Sum, in whole or in part, at any time without notice or penalty.
Right of Prepayment. This Note may be prepaid, in whole or in part, at any time by the Company without premium or penalty. Any prepayment pursuant to this Section 4 shall be accompanied by payment of any Interest (which may be paid in cash, Common Stock, or a combination of cash and Common Stock as provided in Section 2.2) and Default Interest, if any, accrued and unpaid through the date of such prepayment.