Voluntary prepayment and cancellation. (a) If the Owner is, or will be, required to pay to a Lender a Tax Payment or an Increased Cost, the Owner may, while the requirement continues, give notice to the Facility Agent requesting prepayment and cancellation in respect of that Lender.
(b) After notification under paragraph (a) above:
(i) the Owner must repay or prepay that Lender’s share in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment of that Lender will be immediately cancelled.
(c) The date for prepayment of a Lender’s share in a Loan will be the last day of the current Term for the relevant Loan or any earlier date agreed between the Owner, the Facility Agent and that Lender.
Voluntary prepayment and cancellation. (a) If the Borrower is, or will be, required to pay to a Lender a Tax Payment or an Increased Cost, the Borrower may, while the requirement continues, give notice to the Facility Agent requesting prepayment and cancellation in respect of that Lender.
(b) After notification under paragraph (a) above:
(i) the Borrower must repay or prepay that Lender’s share in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan(s) will be the last day of the current Term for the relevant Loan or, if earlier, the date specified by the Borrower in the notice delivered to the Facility Agent.
Voluntary prepayment and cancellation. (a) The Borrower may, subject to a handling fee of USD 7,500.- (for Loan A payable to Eksportfinans) from and including the Business Day falling two (2) years after the Drawdown Date for the Loans, by giving not less than twenty (20) Business Days prior written notice to the Agent, prepay the Loans in whole or in part on any Business Day subject to Break Costs, if any in an amount being a minimum of USD 10,000,000.- and an integral multiple of USD 10,000,000.- in each case.
(b) The Borrower may, by giving not less than 3 Business Days prior written notice to the Agent without penalty, cancel the whole or any undrawn part of the Total Commitment, but if in part, in an amount being a minimum of USD 10,000,000 and an integral multiple of USD 10,000,000 in each case. Any such cancellation shall reduce each Lender’s Commitment on a pro rata basis.
(c) The Borrower may (without penalty or premium), by giving not less than 3 Business Days prior written notice to the Agent, cancel any undrawn portion of the Revolving Credit Facility in an amount equal to the unutilised commitment.
Voluntary prepayment and cancellation. 8.2.1 The Applicant may prepay or cancel all or part of the Loan, provided that the Applicant has given LTA TF at least ten Business Days’ notice in writing of its intention to prepay or cancel.
8.2.2 Any prepayment of the Loan, including any amounts prepaid in respect of VAT in accordance with paragraph 2.7 of Schedule 4, shall be applied in pro rata reduction of each remaining scheduled repayment instalment.
Voluntary prepayment and cancellation. (a) The Borrower may, by giving not less than ten (10) Business Days prior written notice to the Agent, prepay the Loan in whole or in part on any Business Day subject to Break Costs, if any in an amount being a minimum of USD 5,000,000.- and an integral multiple of USD 1,000,000.- in each case.
(b) The Borrower may, by giving not less than ten (10) Business Days prior written notice to the Agent without penalty, cancel the whole or any undrawn part of the Total Commitment, but if in part, in an amount being a minimum of USD 5,000,000.-. Any such cancellation shall reduce each Lender’s Commitment on a pro rata basis.
Voluntary prepayment and cancellation. (a) Subject to the proviso below, the Borrower may, if it gives the Facility Agent not less than ten (10) Business Days’ (or such shorter period as the Majority Lenders may agree) prior written notice, prepay and/or cancel the whole or any part of the Term Facilities, the Loans under the Term Facilities or the Available Commitments for the Term Facilities (but if in part, being an amount that reduces the amount of the Term Facilities in aggregate by a minimum amount of five million dollars ($5,000,000) or in full, provided that, (unless it is a cancellation in respect of the Mooring Tranche after the date of the Mooring Declaration (as defined in the Charter)) or in respect of the K-sure Facility after the Borrower has been notified that any of the events in clause 9.10 (K-Sure Policy) apply) if there are any Loans or Letter of Credit outstanding and Final Acceptance has not occurred, before the Borrower may cancel any part of the Available Commitments of the Term Facilities, it is required to demonstrate to the satisfaction of the Majority Lenders (acting on the advice of the Technical Adviser) that, after such cancellation, it has sufficient funds available to cover all projected Project Costs to achieve Final Acceptance by the earlier of (i) the Cancellation Date and (ii) 18 March 2015.
(b) The Borrower may at any time, if it gives the Facility Agent not less than ten (10) Business Days prior written notice (except for any prepayment pursuant to clause 28.8(a)(viii) for which no prior notice shall be required), prepay and/or cancel the LC Loans or the Available Commitments for the LC Facility or the LC Facility in full provided that:
(i) in the case of a cancellation of the LC Facility in full, no Letter of Credit is outstanding; and
(ii) in the case of any cancellation, if the Borrower is then (or may at any later time be in accordance with the terms of the Charter) required to provide a letter of credit under the Charter and the Issuing Bank meets the requirements under the Charter for the issue of the relevant letter of credit under the Charter, the Borrower providing evidence satisfactory to the Facility Agent that a replacement letter of credit has been, or will be, issued in accordance with clause 27.1 of the Charter or the Borrower has provided equivalent security (including but not limited to cash collateral) to the Charterer in place of such letter of credit. In such event, the Borrower shall not be required to prepay and/or cancel any other Fa...
Voluntary prepayment and cancellation. Voluntary prepayment
Voluntary prepayment and cancellation. Voluntary prepayment Voluntary cancellation Terms and conditions for voluntary prepayments and cancellation Amended Repayment Schedule
Voluntary prepayment and cancellation. (a) If either or both of the Borrowers is, or will be, required to pay to a Lender a Tax Payment or an Increased Cost, the relevant Borrower(s) may, while the requirement continues, give notice to the Facility Agent requesting prepayment and cancellation in respect of that Lender.
(b) After notification under paragraph (a) above:
(i) the relevant Borrower(s) must repay or prepay that Lender’s share in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender’s share in a Loan(s) will be the last day of the Term of each relevant Loan which is current at the time of the notice from the Borrower(s) or, if earlier, the date specified by the Borrower(s) in the notice delivered to the Facility Agent.
Voluntary prepayment and cancellation. (a) If the Borrower is, or will be, required to pay to a Lender a Tax Payment or an Increased Cost, the Borrower may, while the requirement continues, give notice to the Facility Agent requesting prepayment and cancellation in respect of that Lender.
(b) After notification under paragraph (a) above:
(i) the Borrower must repay or prepay that Lender's share in each Loan made to it on the date specified in paragraph (c) below; and
(ii) the Commitment of that Lender will be immediately cancelled.
(c) The date for repayment or prepayment of a Lender's share in a Loan(s) will be the last Business Day of the current Term for the relevant Loan or, if earlier, the date specified by the Borrower in the notice delivered to the Facility Agent.
(d) In the event that the Borrower voluntarily prepays or cancels any part of the Loans in accordance with this Clause 6.7 (Voluntary prepayment and cancellation), the Facility Agent shall replace the relevant Repayment Schedule attached at Schedule 6 with a new Repayment Schedule reflecting the correct Repayment Instalments and correct Repayment Dates and promptly provide a copy thereof to the Borrower and the Lenders.
