Term Loan Optional Prepayments. Provided that no Event of Default then exists under this Agreement or the Loans, the Borrower may voluntarily prepay the principal balance of any Term Loan, in whole or in part, at any time on or after the date hereof, subject to the following conditions:
(i) Not less than three (3) days prior to the date upon which the Borrower desires to make such prepayment, the Borrower shall deliver to the Bank written notice of its intention to prepay the Term Loan, which notice shall be irrevocable and state the prepayment amount and the prepayment date (the “Term Loan Prepayment Date”);
(ii) The Borrower shall pay to the Bank all accrued and unpaid interest on the Term Loan through the Term Loan Prepayment Date on the principal balance being prepaid. Each prepayment of a Term Loan shall be applied to the scheduled installments of such Term Loan in inverse order of maturity.
Term Loan Optional Prepayments. (i) Provided that no Event of Default then exists under this Agreement or the Term Loan, the Borrower may voluntarily prepay the principal balance of the Term Loan, in whole or in part at any time on or after the date hereof, subject to the following conditions:
(A) Not less than three (3) days prior to the date upon which the Borrower desires to make such prepayment, the Borrower shall deliver to the Bank written notice of its intention to prepay the Term Loan, which notice shall be irrevocable and state the prepayment amount and the prepayment date (the “Term Loan Prepayment Date”);
(B) The Borrower shall pay to the Bank all accrued and unpaid interest on the Term Loan through the date of such prepayment on the principal balance being prepaid; and
(C) Prepayments shall be in minimum amounts of $250,000 and $250,000 increments thereof.
(ii) No principal prepayment shall extend or postpone the due date of any subsequent installment of principal or interest arising under the Term Loan.
Term Loan Optional Prepayments. Provided that no Event of Default then exists under this Agreement or the Loans, the Borrowers may voluntarily prepay the principal balance of the Term Loan, in whole or in part at any time on or after the date hereof, without premium or penalty. Notwithstanding the forgoing, if the Term Loan is subject to a Swap Transaction Document, in whole or in part, it is expressly understood by the Borrowers that such a prepayment may cause breakage, termination or like fees to be due under the terms of the Swap Transaction Document. Accordingly, Borrowers should consult the terms the Swap Transaction Document and other disclosures provided therewith for determination of fees or penalties which may be associated with such a prepayment.
Term Loan Optional Prepayments. The Borrower may voluntarily prepay the principal balance of the Term Loan, in whole or in part, without any prepayment penalty whatsoever, provided that any prepayment of the entire principal balance of the Term Loan shall include accrued interest on such Loan to the date of such prepayment. Notwithstanding the foregoing, if the Term Loan is prepaid pursuant to or through a refinancing of the Loans by another financial institution, there shall be a prepayment penalty of 1.5% of the outstanding principal balance together with accrued interest if prepaid during the first year of the Loan and 1.0% of the outstanding principal balance together with accrued interest if prepaid during the second year of the Loan. No prepayment penalty shall apply, regardless of the source of such funds, after the second year of the Term Loan, or to a prepayment made at any time from proceeds of a sale of all or a substantial part of the Borrower's assets or to a prepayment made at any time by the principals of the Borrower from a sale of their interests in the Borrower.
Term Loan Optional Prepayments. The Borrower may from time to time prepay the Term Loan, in whole or in part, provided that any prepayment shall include accrued interest on such Term Loan to the date of such prepayment, together with a prepayment penalty of 1.0% of the outstanding principal balance of the Term Loan.
Term Loan Optional Prepayments. The Borrower may voluntarily prepay the principal balance of the Term Loan, in whole or in part; provided that any prepayment of the principal balance of the Term Loan shall include all accrued interest on the Term Loan to the date of such prepayment. Notwithstanding the foregoing, if the Term Loan is prepaid prior to the Term Loan Maturity Date: (i) pursuant to or through a refinancing of the Term Loan by another financial institution other than Bank, (ii) from proceeds of a sale of all or a substantial part of the Borrower's assets, (iii) from or in connection with a sale of the Borrower’s principals’ ownership interests in the Borrower, or (iv) in connection with an Event of Default, then, in each case, Borrower shall pay Bank a prepayment fee in the amount of 1.0% of the Term Loan Commitment as of the date of such prepayment. For purposes of the preceding sentence, no payment made to reduce the outstanding principal balance of the Term Loan as required to reflect a reduction in the Term Loan Commitment will constitute a prepayment of the Term Loan.
Term Loan Optional Prepayments. Provided that no Event of Default then exists under this Agreement or the Loans, the Borrower may voluntarily prepay the principal balance of the Term Loan, in whole or in part at any time on or after the date hereof, subject to the following conditions:
(i) Not less than five (5) Business Days prior to the date upon which the Borrower desires to make such prepayment, the Borrower shall deliver to the Bank written notice of its intention to prepay the Term Loan, which notice shall be irrevocable and state the prepayment amount and the prepayment date and with respect to which Advances of the Term Loan are being repaid; and
(ii) Each such prepayment shall be in a minimum amount of One Hundred Thousand and 00/100 Dollars ($100,000.00) or whole multiples thereof. The Borrower shall pay to the Bank all accrued and unpaid interest on the Term Loan through the date of such prepayment on the principal balance being prepaid. Each prepayment of the Term Loan shall be applied to the scheduled installments in inverse order of maturity of the Advances of the Term Loan being repaid (excluding the final payment thereon).
Term Loan Optional Prepayments. The Borrowers may from time to time prepay the Term Loan in whole or in part; provided that the Borrowers shall give the Lender notice thereof not later than 10:00 A.M., Chicago time, on the day of such prepayment (which shall be a Business Day), specifying the Loans to be prepaid and the date and amount of prepayment. Any such partial prepayment shall be in an amount equal to $100,000 or a higher integral multiple of $100,000.
Term Loan Optional Prepayments. (i) The Borrower may voluntarily prepay the principal balance of Term Loan, in whole or in part at any time or from time to time on or after the date hereof, subject to the following conditions:
(A) Not less than three (3) days prior to the date upon which the Borrower desires to make such prepayment, the Borrower shall deliver to the Lender written notice of its intention to prepay Term Loan, which notice shall be irrevocable and state the prepayment amount and the prepayment date.
(B) The Borrower shall pay to the Lender all accrued and unpaid interest on the Term Loan through the date of such prepayment on the principal balance being prepaid. Each prepayment of the Term Loan shall be applied to the scheduled installments of the Term Loan in inverse order of maturity.
(C) Notwithstanding the forgoing, if the Term Loan is subject to a Bank Product Agreement (i.e. Hedging Agreement), in whole or in part, it is expressly understood by the Borrower that such a prepayment may cause breakage, termination or like fees to be due under the terms of the Bank Product Agreement. Accordingly, Borrower should consult the terms the Bank Product Agreements and other disclosures provided therewith for determination of fees or penalties which may be associated with such a prepayment.
Term Loan Optional Prepayments. Borrower may voluntarily prepay the principal balance of the Term Loan, in whole or in part, without any prepayment penalty whatsoever; provided that any prepayment of the entire principal balance of the Term Loan shall include all accrued interest on the Term Loan to the date of such prepayment.”
