Voluntary and Mandatory Payments. (a) The Borrower may voluntarily prepay the Term Loans, whether in full at any time or in part from time to time in integral multiples of $10,000 in an amount that is not less than $100,000, in either case without premium or penalty, by giving the Lender a signed notice of its election, or by giving the Lender notice of its election both by telephone and telecopy of a signed notice; provided, however, that the Borrower may not prepay any portion of the Initial Term Loan prior to repayment of the Additional Term Loan in full. Notice of such prepayment election (i) shall be delivered to the Lender at least three Business Days prior to the requested prepayment date (unless the Lender permits a shorter notice period in its sole and absolute discretion)and (ii) shall be irrevocable once given. The Borrower shall repay the Loans on the date and in the amount specified in such notice of prepayment election.
Voluntary and Mandatory Payments. (a) The Borrower may voluntarily prepay the Revolving Credit Loans, whether in full at any time or in part from time to time in integral multiples of $10,000 in an amount that is not less than $100,000, in either case without premium or penalty, by giving the Lender a signed notice of its election, or by giving the Lender notice of its election both by telephone and telecopy of a signed notice. Notice of such prepayment election (i) shall be delivered to the Lender at least three Business Days prior to the requested prepayment date (unless the Lender permits a shorter notice period in its sole and absolute discretion)and (ii) shall be irrevocable once given. The Borrower shall repay the Loans on the date and in the amount specified in such notice of prepayment election.
Voluntary and Mandatory Payments. (a) The Borrowers may voluntarily elect to prepay the Loans in full at any time, or in part from time to time in integral multiples of (x) $500,000 in an amount that is not less than $500,000 in the case of Base Rate Loans and (y) $1,000,000 in an amount that is not less than $1,000,000 in the case of Fixed Rate Loans, in either case without premium or penalty or reduction of the Commitment, by giving the Banks a signed notice of their election, or by giving the Banks notice of their election both by telephone and telecopy of a signed notice and promptly confirming their election by delivery to each Bank of an original copy of the signed notice; provided that (1) the Borrowers shall not in any event prepay any portion of any Fixed Rate Loan unless the Borrowers prepay such Fixed Rate Loan in full and concurrently pay all amounts (if any) required under Section 2.04(i) hereof and (2) the Borrowers may not voluntarily prepay any portion of the Mortgage Loans prior to the relevant Maturity Date so long as any principal balance remains outstanding under the Revolving Credit Loans. Notice of such prepayment election (i) shall be delivered to the Banks at least three Business Days prior to the requested prepayment date of a Fixed Rate Loans and up to 11:00 A.M. (New York City time) on the same Business Day of the requested prepayment date of a Base Rate Loan, (ii) shall be deemed to have been delivered on the following Business Day unless actually received by each of the Banks prior to 11:00 A.M. (New York City time) on a Business Day, and (iii) shall be irrevocable once given. The Borrowers shall repay the Loans on the date and in the amount specified in such notice of prepayment election. Except as otherwise provided in this Section, and except as the Borrowers may otherwise request with respect to any voluntary prepayment, each voluntary or mandatory prepayment shall be applied first to the outstanding balance of the Revolving Credit Loans, with any excess then applied to the Mortgage Loans. So long as any principal balance remains outstanding under the Revolving Credit Loans, any attempted prepayment of the Mortgage Loans (A) shall be applied to and deemed and construed to have reduced the Revolving Credit Loans and (B) shall not be applied against or deemed or construed to have reduced the Mortgage Loans.
Voluntary and Mandatory Payments. The Obligations may pre-paid, in whole or in part and without penalty, at any time prior to the Line of Credit Termination Date. If the unpaid principal balance of the Line of Credit Note thereon exceeds the Line of Credit Commitment at any time, the Borrower shall immediately pay to the Lender for application to the Line of Credit Note an amount equal to such excess. All Obligations shall be due and payable in full on the Line of Credit Termination Date.
Voluntary and Mandatory Payments. Borrower shall be entitled to voluntarily prepay in full or in part the Obligations at any time. Borrower is obligated to make the following prepayments to reduce the outstanding principal amount of the Obligations: (i) on or before June 25, 2001 a mandatory prepayment of $1,200,000; (ii) on or before July 11, 2001, a mandatory prepayment of $600,000; and (iii) an amount equal to 70% of any additional funds (net of finder's fees) received by Borrower as a result of equity investments, debt, or other sources of funding obtained by Borrower; (iv) an amount equal to 100% of any Accounts not collected which were 90 days or more past due their original invoice date as of June 20, 2001 (collectively, the "Aged Accounts"), except for Aged Accounts where the account debtor is the University of California-San Francisco."
