Common use of Voluntary Prepayment; No Re-borrowing Clause in Contracts

Voluntary Prepayment; No Re-borrowing. The Borrower may prepay, upon five (5) Banking Days written notice, the Facility or any portion thereof, provided that if such prepayment is made on a day other than a Payment Date, such prepayment shall be made together with the costs and expenses provided for in Section 13.4. Each prepayment shall be in a minimum amount of Two Million Dollars ($2,000,000) and any multiple thereof, or the full amount of the Facility then outstanding. No part of the Facility once repaid or prepaid will be available for re-borrowing.

Appears in 3 contracts

Samples: Credit Agreement (International Shipholding Corp), Credit Agreement (International Shipholding Corp), Credit Agreement (International Shipholding Corp)

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Voluntary Prepayment; No Re-borrowing. The Borrower may prepay, upon five (5) Banking Days written notice, the Facility Loan or any portion thereof, provided that if such prepayment is made on a day other than a Payment Date, such prepayment shall be made together with the costs and expenses provided for in Section 13.4. Each prepayment shall be in a minimum amount of Two One Million Dollars ($2,000,0001,000,000) and plus any One Million Dollar ($1,000,000) multiple thereof, thereof or the full amount of the Facility then outstandingLoan. No part of the Facility once repaid or prepaid Loan will be available for re-borrowing.

Appears in 2 contracts

Samples: Loan Agreement (Omi Corp/M I), Facility Agreement (Omi Corp/M I)

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