Terms of Prepayments or Reductions Sample Clauses

Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term B Loans, and permanent reductions of the Revolving Loan Commitment hereunder, may be made by the Borrower, at any time and from time to time, following irrevocable written notice to the Administrative Agent prior to 11:00 a.m. (New York time) on the date three (3) Business Days prior thereto, without premium or penalty, on a pro rata basis among the Lenders, provided that the Borrower shall reimburse the Lenders and the other Credit Parties, on the earlier of demand or the applicable Maturity Date, for any loss or out-of-pocket expense incurred by the Lenders or the other Credit Parties in connection with such reduction as set forth in Section 2.11 hereof. Each notice of prepayment or reduction shall be irrevocable. Partial prepayments and reductions shall be in a principal amount of not less than $500,000 or an integral multiple of $100,000 in excess thereof. Upon receipt of any notice of prepayment or reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s portion of the prepayment or reduction, as applicable.
Sample 1
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Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term Loans and any Incremental Facility Loans that are term loans, and permanent reductions of the Revolving Commitment hereunder, may be made at any time upon three (3) Business Days' prior irrevocable written notice to the Administrative Agent, without penalty or premium, provided that such prepayments or reductions shall be in minimum amounts of $5,000,000 and integral multiples of $1,000,000; provided, however, that the prior irrevocable written notice to the Administrative Agent with respect to any voluntary prepayments of the Term Loans made with proceeds of Advances under the Incremental Facility 2003 Loans may be made without regard to the three (3) Business Days period set forth in the immediately preceding sentence."
Sample 1
Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term Loans, and permanent reductions of the Revolving Commitment hereunder, may be made at any time upon three (3) Business Days' prior irrevocable written notice to the Administrative Agent, without penalty or premium, provided that such prepayments or reductions shall be in minimum amounts of $5,000,000 and integral multiples of $1,000,000; provided, however, that if the Borrower prepays the Tranche B Loans in full on or before the second (2nd) anniversary of the Agreement Date, the Borrower hereby agrees to pay to the Administrative Agent, on behalf of the Lenders in accordance with their respective Tranche B Commitment Ratios, a premium in an amount determined by multiplying the aggregate amount of the Tranche B Commitment by (i) one percent (1.00%) with respect to such prepayments made on or before the first (1st) anniversary of the Agreement Date, and (ii) three-quarters of one percent (0.75%) with respect to such prepayments made after the first (1st) anniversary of the Agreement Date but on or before the second (2nd) anniversary of the Agreement Date. Optional permanent prepayments of principal of the Tranche C Loans may be made, on a pro rata basis, subject to the terms and conditions of Section 2.15 hereof and the mandatory repayments, if any, of the Senior Loans pursuant to Section 2.7(c) hereof, to the extent of any Net Proceeds received by the Borrower, or received by Holdco and Invested in the Borrower, from the issuance of any Permitted High-Yield Securities or the issuance of any Capital Stock; provided that such prepayments are made within thirty (30) days after receipt by the Borrower or Holdco, as the case may be, of such Net Proceeds.
Sample 1
Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term Loans, and permanent reductions of the Revolving Loan Commitment hereunder, may be made by the Borrower, at any time and from time to time, following irrevocable written notice to the Administrative Agent prior to 11:00 a.m. (New York time) on the date three (3) Business Days prior thereto, without premium or penalty, on a pro rata basis among the Lenders, provided that the Borrower shall reimburse the Lenders and the other Credit Parties, on the earlier of demand or the applicable Maturity Date, for any loss or out-of-pocket expense incurred by the Lenders or the other Credit Parties in connection with such reduction as set forth in Section 2.11 hereof; provided, however, that the irrevocable written notice to the Administrative Agent with respect to any voluntary prepayments of the Term B Loans made with the proceeds of Advances of the Incremental Term C Loans on the Agreement Date may be made without regard to the three (3) Business Days notice period set forth in this sentence. Each notice of prepayment or reduction shall be irrevocable. Partial prepayments and reductions shall be in a principal amount of not less than $500,000 or an integral multiple of $100,000 in excess thereof. Upon receipt of any notice of prepayment or reduction, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender’s portion of the prepayment or reduction, as applicable.
Sample 1
Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term Loans, and permanent reductions of the Revolving Loan Commitments and any Incremental Facility Commitments that are revolving loan commitments, may be made at any time upon three (3) Business Days' prior irrevocable written notice to the Administrative Agent, without penalty or premium, provided that such prepayments or reductions shall be in minimum amounts of $2,000,000 and integral multiples of $100,000; PROVIDED, HOWEVER, that the prior written notice to the Administrative Agent required with respect to any voluntary prepayments of any Loans made with proceeds of Advances under, or the voluntary reduction of any Commitment replaced by the issuance of a revolving loan commitment under, any Refinancing Incremental Facility, may, in any such case, be made without regard to the three (3) Business Days period set forth in the immediately preceding sentence; PROVIDED FURTHER, HOWEVER, that any notice to the Administrative Agent given in connection with any voluntary prepayment of the Loans which is dependent upon the closing of another financing, or upon the closing of an asset sale or other disposition, may be made subject to revocation.
Sample 1
Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term Loans, and permanent reductions of the Revolving Commitment hereunder, and on or before the Second Amendment Date, permanent reductions of the Tranche A Commitment, may be made at any time upon three (3) Business Days' prior irrevocable written notice to the Administrative Agent, without penalty or premium, provided that such prepayments or reductions shall be in minimum amounts of $5,000,000 and integral multiples of $1,000,000."
Sample 1
Terms of Prepayments or Reductions. Optional permanent prepayments of principal of the Term Loans, and permanent reductions of the Revolving Commitment hereunder, may be made at any time upon three (3) Business Days' prior irrevocable written notice to the Administrative Agent, without penalty or premium, provided that such prepayments or reductions shall be in minimum amounts of $5,000,000 and integral multiples of $1,000,000; provided, however, that if the Borrower prepays the Tranche B Loans in full on or before the second (2nd) anniversary of the Original Closing Date, the Borrower hereby agrees to pay to the Administrative Agent, on behalf of the Lenders in accordance with their respective Tranche B Commitment Ratios, a premium in an amount determined by multiplying the aggregate amount of the Tranche B Commitment by three-quarters of one percent (0.75%) with respect to such prepayment made after the first (1st) anniversary of the Original Closing Date but on or before the second (2nd) anniversary of the Original Closing Date. Notwithstanding the foregoing, the Borrower shall not be required to pay such a premium in the event that the Tranche B Loans are required to be paid in full pursuant to Section 2.6 hereof.
Sample 1
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Related to Terms of Prepayments or Reductions

  • Application of Prepayments Reductions (a) Any prepayment of any Loan pursuant to Section 2.11 shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

  • Application of Prepayments Subject to Section 1.10(c), any prepayments pursuant to Section 1.8(b), 1.8(c) or 1.8(d) shall be applied by the Issuer to prepay the outstanding Term Loans pro rata based upon the respective amounts thereof (which, if any Other Term Loans are then outstanding, shall consist of a prepayment of Other Term Loans in an amount equal to the Other Pro Rata Share of such prepayment of Term Loans and a prepayment of Term Loans that are not Other Term Loans in the remaining amount). The Issuer shall provide Agent and the Purchasers with at least two Business Days prior written notice of any prepayment proposed to be made pursuant to Section 1.8(b), 1.8(c) or 1.8(d). Notwithstanding the foregoing, each Purchaser may reject all or a portion of its pro rata share of any mandatory prepayment (such declined amounts, the “Declined Proceeds”) of the Term Loans otherwise required to be made pursuant to clauses (c), (d) and (e) of this Section 1.8 by providing written notice (each, a “Rejection Notice”) to Agent and the Issuer no later than 5:00 p.m. one (1) Business Day prior to the applicable prepayment date. Each Rejection Notice from a Purchaser shall specify the principal amount of the mandatory prepayment of Term Loans to be rejected by such Purchaser. If a Purchaser fails to deliver a Rejection Notice to the Purchasers within the time frame specified above or such Rejection Notice fails to specify the principal amount of the Term Loans to be rejected, any such failure will be deemed a rejection by such Purchaser of the total amount of such mandatory prepayment of such Term Loans otherwise owed to such Purchaser. To the extent that any prepayment pursuant to this Section 1.8 would otherwise be applied to a LIBOR Rate Loan prior to the last day of the Interest Period applicable thereto, and no Default or Event of Default exists or is continuing, the Issuer may instruct each Purchaser in writing to hold such prepayment as cash collateral until the last day of the applicable Interest Period (and interest in respect of the amounts so held shall continue to accrue thereon at the rate provided hereunder for the Term Loans which such amounts are intended to repay until such amounts are used in full to repay such Term Loans) and then such Purchaser shall apply such prepayment to pay such LIBOR Rate Loan on the last day of the applicable Interest Period. Together with each prepayment under this Section 1.8, the Issuer shall pay any amounts required pursuant to Section 10.4 hereof.

  • Allocation of Prepayments Before any optional or mandatory prepayment of Borrowings hereunder, the Borrower shall select the Borrowing or Borrowings to be prepaid and shall specify such selection in the notice of such prepayment pursuant to Section 2.10(f).

  • Application of prepayment The provisions of Clause 8 shall apply in relation to the prepayment.

  • All Prepayments Except as this Agreement may specifically provide otherwise, all prepayments of the Term Loan shall be applied by Agent to the Obligations in inverse order of maturity. The monthly payments required under Schedule 2.1 shall continue in the same amount (for so long as the Term Loan and/or (if applicable) any advance thereunder shall remain outstanding) notwithstanding any partial prepayment, whether mandatory or optional, of the Term Loan. Notwithstanding anything to the contrary contained in the foregoing, in the event that there have been multiple advances under the Term Loan each of which such advances has a separate amortization schedule of principal payments under Schedule 2.1 attached hereto, each prepayment of the Term Loan shall be applied by Agent to reduce and prepay the principal balance of the earliest-made advance then outstanding in the inverse order of maturity of the scheduled payments with respect to such advance until such earliest-made advance is paid in full (and to the extent the total amount of any such partial prepayment shall exceed the outstanding principal balance of such earliest-made advance, the remainder of such prepayment shall be applied successively to the remaining advances under the Term Loan in the direct order of the respective advance dates in the manner provided for in this sentence).

  • REPAYMENTS, PREPAYMENTS INTEREST AND FEES

  • Repayment Prepayment and Cancellation 6 REPAYMENT

  • Payments Prepayments (a) Payment, when paid, shall be applied first to the payment of all interest accrued and unpaid on this Note and then to payment on account of the principal hereof.

  • Notice of Prepayments The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Revolving Commitments as contemplated by Section 2.07, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.07; provided further that, the Borrower may deliver a conditional prepayment notice subject to the proviso in Section 2.07(c). Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

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