Term and Prepayment Sample Clauses

Term and Prepayment. (a) The obligation of Lender to make Revolving Credit Advances and extend other financial accommodations shall be in effect from the Closing Date until the Commitment Termination Date. Upon the Commitment Maturity Date Borrower shall pay to Lender in full, in cash: (i) all outstanding Revolving Credit Advances and all interest earned, but unpaid, thereon; (ii) an amount sufficient to enable Lender to hold cash collateral as specified in Schedule C; and (iii) all other non-contingent Obligations due to or incurred by ---------- Lender. Prior to repayment of all Obligations to Lender in full, in cash on the Commitment Maturity Date: (b) If the Revolving Credit Loan shall at any time exceed the Borrowing Availability, then Borrower shall immediately repay the Revolving Credit Loan in the amount of such excess; such excess balance shall nevertheless constitute Obligations that are evidenced by the Revolving Credit Note, secured by the Collateral and entitled to all of the benefits of the Loan Documents. (c) Subject to the following sentence, Borrower shall have the right, at any time upon thirty (30) days prior written notice to Lender, (i) to terminate voluntarily Borrower's right to receive or benefit from, and Lender's obligation to make and to incur, Revolving Credit Advances and Letter of Credit Obligations, and (ii) to prepay all of the Obligations, and the effective date of termination of the Revolving Credit Loan specified in such notice shall be the Commitment Maturity Date. If Borrower exercises such right of termination and prepayment, or if Borrower's right to receive or benefit from, and Lender's obligation to make or to incur, Revolving Credit Advances and Letter of Credit Obligations is terminated for any reason prior to May 29, 2000 (including, without limitation, as a result of the occurrence of an Event of Default), Borrower shall pay to Lender the applicable Prepayment Fee.

Term and Prepayment. (a) Upon the Commitment Termination Date the obligation of Lender to make Revolving Credit Advances and extend other credit hereunder shall immediately terminate and Borrowers shall pay to Lender in full, in cash: (i) all outstanding Revolving Credit Advances and all accrued but unpaid interest thereon, including Additional Interest referred to in Section 1.5(e); (ii) an amount sufficient to enable Lender to hold cash collateral as specified in Schedule C; and (iii) all other non-contingent Obligations due to or incurred by Lender. (b) If the Revolving Credit Loan attributable to any Borrower shall at any time exceed such Borrower's Borrowing Availability, then such Borrower shall immediately repay the Revolving Credit Loan in the amount of such excess. (c) Each Borrower shall have the right, at any time upon 30 days prior written notice to Lender to (i) terminate voluntarily Borrowers' right to receive or benefit from, and Lender's obligation to make and to incur, Revolving Credit Advances and Letter of Credit Obligations and (ii) prepay all of the Obligations. The effective date of termination of the Revolving Credit Loan specified in such notice shall be the Commitment Termination Date. If any Borrower exercises the right of termination and prepayment, or if Lender's obligation to make Loans is terminated for any reason prior to the Stated Expiry Date then in effect (including as a result of the occurrence of a Default), Borrowers shall pay to Lender the applicable Prepayment Fee.

Term and Prepayment. (a) Upon the Maturity Date of the Loan, Borrower shall pay to Agent for the pro rata benefit of the Lenders (i) all outstanding principal and accrued but unpaid interest on the Loan and (ii) all other Obligations relating to the Loan then due to or incurred by Agent or the Lenders. (b) On any Payment Date, Borrower shall have the right upon five (5) calendar days’ prior written notice to Agent, to make a voluntary prepayment (a “Voluntary Prepayment”) of the Term Loans then outstanding in whole or in part. If the Borrower elects to prepay the Term Loans in whole or in part pursuant to this Section 1.2(b) or otherwise, or if the Term Loans are mandatorily prepaid in whole or in part pursuant to Sections 1.2(c) through 1.2(g) (each, a “Mandatory Prepayment” and together with any Voluntary Prepayment, the “Prepayments”), the Borrower shall pay to the Agent for the benefit of the Lenders a prepayment fee of (i) five percent (5%) of the principal Loan amount being prepaid on the date of such Prepayment if such date is on or prior to the date that is twelve (12) months following the Closing Date, (ii) four percent (4%) of the principal Loan amount being prepaid on the date of such Prepayment if such date occurs after the date that is twelve (12) months after the Closing Date and on or prior to the date that is twenty-four (24) months following the Closing Date, (iii) three percent (3%) of the principal Loan amount being prepaid on the date of such Prepayment if such date occurs after the date that is twenty-four (24) months after the Closing Date and on or prior to the date that is thirty (30) months following the Closing Date, (iv) one percent (1%) of the principal Loan amount being prepaid on the date of such Prepayment if such date occurs after the date that is twenty-fourthirty (2430) months after the Closing Date and on or prior to the date that is thirty sixforty-two (3642) months following the Closing Date, or (ivv) zero percent (0%) of the principal Loan amount being prepaid on the date of such Prepayment if such date is later than the date that is thirty sixforty-two (3642) months

Term and Prepayment. (a) Subject to the rights of the Lender under Section 13 to accelerate payment of all monies owing hereunder, the principal amount of the Advance, together with all accrued but unpaid interest, fees and other costs or charges payable hereunder from time to time (collectively the “Outstanding Balance”), will be immediately due and payable by the Borrowers to the Lender on September 30, 2010. (b) If after the Advance of the Facility, the Borrowers or any of their respective Subsidiaries: (i) sell or otherwise dispose of any assets outside of the ordinary course of business, except for the transfer by any of Allied Nevada Gold Holdings LLC, Allied VNC Inc. or Victory Exploration Inc. of any interest in any Secondary Mining Properties to an arms length third party for good and valuable consideration at fair market value by way of joint venture, sale or option (each, a “Permitted Disposition”); or (ii) close one or more equity or debt financings (which for greater certainty shall not include the exercise of any options or warrants validly issued by either of the Borrowers and outstanding as at the date of this Agreement), the Borrowers will pay or cause to be paid to the Lender all proceeds from such sale, disposition or financing, net of reasonable selling or financing costs, up to the full amount of the Outstanding Balance, to be applied on account of the Facility. (c) The Borrowers may prepay the Facility in whole at any time before maturity, without penalty, provided that such prepayment occurs on the last Business Day of any calendar month during the term of the Facility and further provided that the Borrowers have delivered to the Lender written notice of its intention to prepay the Facility not less than two (2) months prior to such prepayment.

Term and Prepayment. Upon the Commitment Termination Date the ------------------- obligation of Lender to make Revolving Credit Advances and extend other credit hereunder shall immediately terminate and Borrowers shall pay to Lender in full, in cash: (i) all outstanding Revolving Credit Advances and all accrued but unpaid interest thereon; (ii) an amount sufficient to enable Lender to hold cash collateral as specified in Schedule C and (iii) all other non-contingent ---------- Obligations due to or incurred by Lender.

Term and Prepayment. (a) Subject to the rights of the Lender under Section 6 to accelerate payment of all monies owing hereunder, (i) $100,000 of the Loan will be immediately due and payable by the Borrower to the Lender on May 30, 2020, and (ii) the balance of the Loan, being $177,839.43, will be immediately due and payable in full by the Borrower to the Lender on November 6, 2020 (the “Maturity Date”). (b) Upon written notice, the Borrower may prepay the Loan in its entirety or any part of the Loan at any time prior to the Maturity Date without penalty, premium, or bonus.

Term and Prepayment. (a) Upon the Commitment Termination Date the obligation of Lender to make Revolving Credit Advances and extend other credit hereunder shall immediately terminate and Borrower shall pay to Lender in full, in cash: (i) all outstanding Revolving Credit Advances and all accrued but unpaid interest thereon; and (ii) all other non-contingent Obligations due to or incurred by Lender. (b) If the outstanding balance of the Revolving Credit Loan shall at any time exceed the Borrowing Availability, including without limitation, if applicable, due to the Maximum Amount being reduced as contemplated by the definition thereof, then Borrower shall immediately repay the Revolving Credit Loan in the amount of such excess. (c) Borrower shall have the right, at any time upon five (5) days’ prior written notice to Lender to (i) terminate voluntarily Borrower’s right to receive or benefit from, and Lender’s obligation to make Revolving Credit Advances, and (ii) prepay all of the Obligations. The effective date of termination of the Revolving Credit Loan specified in such notice shall be the Commitment Termination Date.

Term and Prepayment. ​ (a) Upon the Maturity Date of the Loan, Borrower shall pay to Agent for the pro rata benefit of the Lenders (i) all outstanding principal and accrued but unpaid interest on the Loan and (ii) all other Obligations relating to the Loan then due to or incurred by Agent or the Lenders. (b) On any Payment Date, so long as no Default or Event of Default has occurred hereunder, Borrower shall have the right upon thirty (30) calendar days’ prior written notice to Agent, to make a voluntary prepayment (a “Voluntary Prepayment”) of all or a portion (in a minimum amount of $1,000,000 and integrate multiples of $100,000 in excess thereof) of the principal amount of all of the Term Loans then outstanding. If the Borrower elects to prepay the Term Loans pursuant to this Section1.2(b) or otherwise, or if the Term Loans are mandatorily prepaid in whole or in part pursuant to any other clause of this Section 1.2 (each, a “Mandatory Prepayment” and together with any Voluntary Prepayment, the “Prepayments”), the Borrower shall pay to the Agent for the benefit of the Lenders a prepayment fee as follows: (i) in the case of any Prepayment (other than under Section 1.2(f) or (h)) made prior to the first anniversary of the Closing Date, 3% of the principal Loan amount being prepaid on the date of such Prepayment; (ii) in the case of any Prepayment (other than under Section 1.2(f) or (h)) made on or after the first anniversary of the Closing Date and prior to the second anniversary of the Closing Date, 2% of the principal Loan amount being prepaid on the date of such Prepayment; and (iii) in the case of any Prepayment (other than under Section 1.2(f) or (h)) made on or after the second anniversary of the Closing Date and prior to the third anniversary of the Closing Date, 1% of the principal Loan amount being prepaid on the date of such Prepayment. Each Lender shall have the right in its sole discretion to decline any Mandatory Prepayment in accordance with Section 1.2(i) below.

Term and Prepayment. (a) The aggregate principal amount of the Advance, together with all accrued but unpaid interest, bonus and other costs or charges payable hereunder from time to time (collectively the “Outstanding Balance”), will be immediately due and payable by the Borrower to the Lender on the earlier of: (i) November 30, 2007; (ii) the date of any change of control of the Borrower (“control” being defined as ownership of or control or direction over, directly or indirectly, 20% or more of the outstanding voting securities of the Borrower); and (iii) the occurrence of an Event of Default (as defined in paragraph 14 hereof) and a demand for payment by the Lender pursuant to paragraph 15 below; (b) If after the Advance of the Facility, or any portion thereof, the Borrower or any of its Subsidiaries sell or otherwise dispose of any assets outside of the ordinary course of business, or close one or more equity or debt financings, the Borrower will pay or cause to be paid to the Lender all proceeds from such sale, disposition or financing, net of reasonable selling or financing costs, up to the full amount of the Outstanding Balance, to be applied on account of the Facility; (c) The Borrower may prepay the Facility in whole at any time before maturity, without penalty, provided that such prepayment is made on the last business day of a calendar month and the Borrower has provided not less than ten (10) business days’ prior notice of its intention to prepay the Facility.

Term and Prepayment. (a) The principal amount of each Advance, together with all accrued but unpaid interest, bonus and other costs or charges payable hereunder from time to time in connection with such Advance (collectively in respect of all Advances, the "Outstanding Balance"), will be immediately due and payable by the Borrower to the Lender on April 26, 2007 (the “Repayment Date”). (b) Notwithstanding paragraph (a) hereof, the Outstanding Balance, will be immediately due and payable by the Borrower to the Lender on the earlier of: (i) the date of any change of control of the Borrower ("control" being defined as ownership of or control or direction over, directly or indirectly, 20% or more of the outstanding voting securities of the Borrower); or (ii) the occurrence of an Event of Default, as defined in paragraph 11 hereof. (c) If after the Initial Advance of the Loan, the Borrower or any of its Subsidiaries sell or otherwise dispose of any assets outside of the ordinary course of business, close one or more equity or debt financings, the Borrower will pay or cause to be paid to the Lender all proceeds from such sale, disposition or financing, net of legal fees, financing fees and any other actual out-of-pocket costs incurred by the Borrower in connection with such sale or financing, up to the full amount of the Outstanding Balance, to be applied on account of the Loan, after settlement of any amounts outstanding under the Quest Capital Corp. loan agreement. (d) The Borrower may prepay the Loan or the Outstanding Balance in respect of the Advance, in either case in whole at any time before maturity, without notice or penalty, provided that such prepayment is made on the last Business Day of the calendar month and the Borrower has provided to a Lender not less than ten (10) Business Days’ prior written notice of its intention to prepay the Loan, after settlement of any amounts outstanding under the Quest Capital Corp. loan agreement.