Voluntary Prepayment, Mandatory Prepayment, Reduction or Termination Clause Samples

Voluntary Prepayment, Mandatory Prepayment, Reduction or Termination. (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 (c) of this Section and, if applicable, payment of any break funding expenses under Section 2.15. (b) In the event and on such occasion that any European Borrowing Limits are exceeded and/or any of the French Borrowing Limits are exceeded, the Borrowers shall prepay the relevant Revolving Loans, LC Exposure and/or Swingline Loans or cash collateralize LC Exposure in an account with the Administrative Agent pursuant to Section 2.6(j), as applicable, in an aggregate amount equal to such excess. (c) The Administrative Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the relevant Swingline Lender) in writing of any prepayment hereunder not later than 11:00 a.m., London time, three (3) Business Days before the date of prepayment, in the case of a prepayment of all or part of an IBOR Loan. 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; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 4.1, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 4.1. Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing as provided in Section 2.2. Each prepayment of a Revolving Borrowing shall be applied ratably to the Revolving Loans included in the prepaid Borrowing. Prepayments shall be accompanied by (i) accrued interest to the extent required by Section 2.8 and (ii) break funding payments pursuant to Section 2.15. (d) In lieu of making any payment pursuant to this Section 4.3 in respect of any IBOR Loan other than on the last day of the Interest Period, so long as no Event of Default shall have occurred and be continuing, the applicable Borrower(s) at its or their option may deposit with the Administrative Agent an amount in the applicable currency equal to the amount of the IBOR Loan to be prepaid and such IBOR Loan shall be repaid on the last day of ...