Upon Banana G’s Sale Sample Clauses

Upon Banana G’s Sale. Pursuant to Section 2.4 of the Loan Agreement (Optional Prepayment of Term Loan), in the event the Borrower completes the Banana G’s Sale (as defined below), the Borrower shall deliver, or cause to be delivered, a principal payment on the Term Loans in an amount equal to one-half (1/2) of the Net Proceeds from the Banana G’s Sale, plus the Early Termination Fee due on such amount, plus any and all other interest, fees and expenses set forth in the Loan Agreement (collectively, the “Banana G’s Prepayment Amount”) as a prepayment of the Term Loan within two (2) Business Days after the Borrower’s receipt of funds from the Banana G’s Sale. The remaining proceeds from the Banana G’s Sale may be utilized at the Borrower’s discretion. For the avoidance of doubt, in no event shall any required prepayments of principal related to any Borrowing Base shortfalls after the Amendment Closing Date count towards the Initial Prepayment Amount, the ERC Prepayment Amount or the Banana G’s Prepayment Amount or any prepayment interest and prepayment penalties on the Initial Prepayment Amount, the ERC Prepayment Amount or the Banana G’s Prepayment Amount under this Section 1.
Sample 1
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