Voluntary and Mandatory Prepayments of Loans Sample Clauses

Voluntary and Mandatory Prepayments of Loans. (a) [Intentionally Omitted].
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Voluntary and Mandatory Prepayments of Loans. (a) The Borrowers 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 paragraph (b) of this Section; provided, on the date of prepayment, the Borrowers agree that the Loans then being prepaid shall be deemed to have been called by the Lenders, and the Borrowers shall pay to the Administrative Agent for benefit of the Lenders the related Prepayment Amount relating to such Loans; provided, however, that no Prepayment Amount shall be payable in connection with any prepayment (i) from the proceeds of any Export Contract or (ii) occurring within fifteen (15) days of the Termination Date. (b) The Borrowers shall notify the Administrative Agent by telephone (confirmed by facsimile) or email of any prepayment hereunder not later than 11:00 a.m., New York City time, two (2) Business Days 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. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.09. (c) In the event that the aggregate principal amount of the Loans then outstanding shall at any time exceed either the Applicable Advance Rate or the Applicable EC Rate, the Borrowers shall within three (3) days thereof prepay the Loans in an amount which would result in compliance with Section 6.08(d) or (e), as the case may be. 18 (d) In the event the insurance policies maintained by the Borrowers with respect to the Pledged Inventory shall cease to be available in sufficient coverage amounts at any time, as such may be determined by the Administrative Agent in its sole discretion, the Borrowers shall within five (5) days of notice thereof from the Administrative Agent prepay the then outstanding principal amount of the Loans. SECTION 2.08.
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Voluntary and Mandatory Prepayments of Loans. Section 2.06 Termination and Reduction of Commitments
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Voluntary and Mandatory Prepayments of Loans. 38 Section 2.14 Method and Place of Payment...........................41
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Voluntary and Mandatory Prepayments of Loans. (a) Borrower may, upon notice to Administrative Agent, at any time or from time to time voluntarily prepay the Loans in whole or in part (i) upon payment of the Prepayment Premium, if such prepayment is to be made on or prior to the first anniversary of the Closing Date, or (ii) without premium or penalty, if such prepayment is to be made following the first anniversary of the Closing Date; provided that (i) such notice must be received by Administrative Agent not later than 2:00 p.m. five (5) Business Days prior to the date of the proposed prepayment and (ii) any prepayment shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof, or if less, the entire principal amount thereof then outstanding. If such notice is given by Borrower, Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Notwithstanding anything to the contrary contained in this Agreement, Borrower may rescind any notice of prepayment under Section 2.05(a) if such prepayment would have resulted from a refinancing of all or a portion of the Facility, which refinancing shall not be consummated or shall otherwise be delayed
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Voluntary and Mandatory Prepayments of Loans. (a) The Borrowers 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 paragraph (b) of this Section; provided, on the date of prepayment, the Borrowers agree that the Loans then being prepaid shall be deemed to have been called by the Lenders, and the Borrowers shall pay to the Administrative Agent for benefit of the Lenders the related Prepayment Amount relating to such Loans; provided, however, that no Prepayment Amount shall be payable in connection with any prepayment (i) from the proceeds of any Export Contract or (ii) occurring within fifteen (15) days of the Termination Date.
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Voluntary and Mandatory Prepayments of Loans 
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Related to Voluntary and Mandatory Prepayments of Loans

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Prepayments of Loans Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Euro-Dollar Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Lenders included in such Borrowing.

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