Common use of Right to Prepay Clause in Contracts

Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 below or in Section 5.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 [Administrative Agent’s and Banks’ Rights] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 5 contracts

Samples: Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc)

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Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 below or in Section 5.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 [Administrative Agent’s 's and Banks' Rights] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 3 contracts

Samples: Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc), Credit Agreement (Triumph Group Inc)

Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 4.4.2 below or in Section 5.54.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 4.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 3.4.3 [Administrative Agent’s and Banks’ Rights] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 2 contracts

Samples: Revolving Credit Facility (Triumph Group Inc), Revolving Credit Facility (Triumph Group Inc)

Right to Prepay. The Borrowers Borrower shall have the right at their its option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 below Section 4.5.2 [Replacement of a Lender], in Section 4.6 [Additional Compensation in Certain Circumstances]), or in Section 5.5) 4.8 [Indemnity] in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank Lender pursuant to Section 4.5.3 3.4 [Administrative Agent’s and Banks’ RightsEuro-Rate Unascertainable; Illegality; Increased Costs; Deposits Not Available] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire Borrower desires to prepay any part of the Loans, TGI it shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before by 1:00 p.m. (and in the case of Optional Currency Swing Loans, four at least three (43) days before) Business Days prior to the date of prepayment of Loans made in Dollars to which the Euro-Rate Option applies, four (4) Business Days prior to the date of prepayment of Loans made in an Optional Currency and at least one (1) Business Day prior to the date of prepayment of Loans to which the Base Rate Option applies) or no later than 1:00 p.m., Pittsburgh time, on the date of prepayment of Swing Loans, setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepaymentprepayment between the Swing Loans and Revolving Credit Loans; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 1,000,000.00 for any Swing Loan (or integral multiples of $500,000.00 thereabove) or not less than $5,000,000.00 (or integral multiples of $1,000,000.00 thereabove) for any Revolving Credit Loan subject to the Euro-Rate Option, or not less than $500,000.00 (or integral multiples of $100,000.00 thereabove) for any Revolving Credit Loan subject to the Base Rate Option. All prepayment notices shall be irrevocable. The principal amount of the Loans for which a prepayment notice is given, together with interest on such principal amount except with respect to Revolving Credit Loans to which the Base Rate Option applies, shall be due and payable on the date specified in such prepayment notice as the date on which the proposed prepayment is to be made in the currency in which such Loan was made. Except as provided in Section 3.4.3 [Agent’s and Lender’s Rights], if the Borrower prepays a Revolving Credit Loan but fails to specify the applicable Borrowing Tranche which the Borrower is prepaying, the prepayment shall be applied to Revolving Credit Loans (1) first, to which the Base Rate Option applies, then (2) to Dollar Revolving Credit Loans to which the Euro-Rate Option applies, and then (3) to Optional Currency Revolving Credit Loans. Notwithstanding the foregoing Any prepayment hereunder shall be subject to the contrary, whenever Borrower’s Obligation to indemnify the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, Lenders under Section 4.8 [Indemnity]. Amounts prepaid on the date Revolving Credit Loans shall be available for reborrowing subject to the terms and conditions of prepayment of Swing Loans setting forth the following information:this Agreement.

Appears in 1 contract

Samples: Credit Agreement (Covance Inc)

Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 4.4.2 below or in Section 5.54.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 4.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 3.4.3 [Administrative Agent’s 's and Banks' Rights] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 1 contract

Samples: Revolving Credit Facility (Triumph Group Inc)

Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 below or in Section 5.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 resulting from such prepayment,, or (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 [Administrative Agent’s and Banks’ Rights] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc)

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Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 4.4.2 below or in Section 5.54.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 4.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 3.4.3 [Administrative Agent’s and Banks’ Rights] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc)

Right to Prepay. The Borrowers shall have the right at their option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 4.4.2 below or in Section 5.54.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 4.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 3.4.2 [Administrative Agent’s and Banks’ RightsIllegality; Increased Costs; Deposits Not Available] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire to prepay any part of the Loans, TGI shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire to prepay any part of the Swing Loans TGI shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc /)

Right to Prepay. The Borrowers Borrower shall have the right at their its option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in subsection 5.4.2 4.4.2 below or in Section 5.54.5) in the currency in which such Loan was made: (i) at any time with respect to any Loan to which the Base Rate Option applies, (ii) on the last day of the applicable Interest Period with respect to Loans to which a Euro-Rate Option applies, provided however the Borrowers may otherwise prepay such Loans upon payment of all amounts owing under Section 5.5.2 resulting from such prepayment, (iii) on the date specified in a notice by any Bank pursuant to Section 4.5.3 3.4.2 [Administrative Agent’s and Banks’ RightsIllegality; Increased Costs; Deposits Not Available] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrowers desire Borrower desires to prepay any part of the Loans, TGI it shall provide a prepayment notice to the Administrative Agent on behalf of the Borrowers on or before (and in the case of Optional Currency Swing Loans, four (4) days before) the date of prepayment of Loans setting forth the following information: (a) the date, which shall be a Business Day, on which the proposed prepayment is to be made; (b) a statement indicating the application of the prepayment; and (c) the total principal amount and currency of such prepayment, the Dollar Equivalent amount of which shall not be less than $200,000 for the Revolving Credit Loans. Notwithstanding the foregoing to the contrary, whenever the Borrowers desire Borrower desires to prepay any part of the Swing Loans TGI it shall provide notice thereof on behalf of the Borrowers no later than 12:00 noon, Pittsburgh time, on the date of prepayment of Swing Loans setting forth the following information:

Appears in 1 contract

Samples: Credit Agreement (Triumph Group Inc /)

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