Voluntary Prepayment of Notes Sample Clauses

Voluntary Prepayment of Notes. The Issuer may, from time to time, and upon at least five (5) Business Days' prior written irrevocable notice to the Agent and each Noteholder, make an optional prepayment of principal of the Notes, in whole or in part; provided, however, that (i) any partial prepayment of principal shall be in a minimum amount of Two Hundred Fifty Thousand Dollars ($250,000) and (ii) the Issuer may not utilize any funds on deposit in the Restricted Cash Account for such purposes. The Issuer shall promptly confirm any telephonic notice of prepayment in writing. Any optional Prepayment of principal made by the Issuer pursuant to this Section 203(b) shall also include (i) accrued interest to the date of the prepayment on the principal balance being prepaid and (ii) if such prepayment is being made on a day other than a Payment Date, any Breakage Costs; provided, however, that no Prepayment Fee shall be required in connection with any prepayment required pursuant to the terms of this Loan Agreement in accordance with Section 2.03(c) or (d).
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Voluntary Prepayment of Notes. The Borrower may, from time to time, and upon at least five (5) Business Days’ prior written irrevocable notice to the Agent and each Lender, make an optional prepayment of principal of the Notes, in whole or in part; provided, however, that (i) any partial prepayment of principal shall be in a minimum amount of Two Hundred Fifty Thousand Dollars ($250,000), and (ii) the Borrower may not utilize any funds on deposit in either the Trust Account (except to the extent that such funds are otherwise distributable to the Borrower in accordance with the provisions of Section 302) or the Restricted Cash Account for such purposes. The Borrower shall promptly confirm any telephonic notice of prepayment in writing. Any optional prepayment of principal made by the Borrower pursuant to this Section 203(b) shall also include (i) accrued interest to the date of the prepayment on the Principal Balance being prepaid, (ii) any termination, notional reduction, breakage and other fees and costs assessed by any Eligible Interest Rate Hedge Provider and (iii) if such prepayment is being made on a day other than a Payment Date, any Breakage Costs.
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Voluntary Prepayment of Notes. The Issuer may, from time to time, and upon at least five (5) Business Days' prior written irrevocable notice to the Agent and each Noteholder, make an optional prepayment of principal of the Notes, in whole or in part; provided, however, that any partial prepayment of principal shall be in a minimum amount of Two Hundred Fifty Thousand Dollars ($250,000). The Issuer shall promptly confirm any telephonic notice of prepayment in writing. Any optional Prepayment of principal made by the Issuer pursuant to this Section 203(b) shall also include (i) accrued interest to the date of the prepayment on the principal balance being prepaid, (ii) unless otherwise waived by the Noteholders, an additional amount equal to one percent (1%) of the principal balance being prepaid (the "Prepayment Fee") and (iii) if such prepayment is being made on a day other than a Payment Date, any Breakage Costs; provided, however, that no Prepayment Fee shall be required in connection with any prepayment required pursuant to the terms of this Loan Agreement in accordance with Section 2.03(c) or (d).
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Voluntary Prepayment of Notes. The Issuer may make a voluntary prepayment of any Notes in accordance with Section 702(b) hereof.
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Voluntary Prepayment of Notes. The Issuer may, from time to time, and upon at least five (5) Business Days’ prior written irrevocable notice to the Agent and each Noteholder, make an optional prepayment of principal of the Notes, in whole or in part; provided, however, that any partial prepayment of principal shall be in a minimum amount of Two Hundred Fifty Thousand Dollars ($250,000). The Issuer shall promptly confirm any telephonic notice of prepayment in writing. Any optional prepayment of principal made by the Issuer pursuant to this Section 203(b) shall also include (i) accrued interest to the date of the prepayment on the principal balance being prepaid and (ii) if such prepayment is being made on a day other than a Payment Date, any Breakage Costs; provided, however, that no prepayment fee shall be required in connection with any prepayment required pursuant to the terms of this Loan Agreement in accordance with Section 2.03(c) or (d).
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Voluntary Prepayment of Notes. The Loans may be voluntarily prepaid in whole or in part at any time, without premium or penalty (except for any fixed rate Equipment Loans which may be subject to a prepayment premium). The Company, on behalf of the Borrowers, may designate the Note or Notes to which a payment is to be applied and the Bank will apply such payment to the Note or Notes so designated. In case of prepayment of less than all of the outstanding principal amount of the Notes, the prepayment will be applied first to accrued, but unpaid interest on the Note designated for prepayment by the Company, and then to the principal amounts due on that Note, and if the principal prepayments are to be made on the 1995 Mortgage Note, the 1993 Mortgage Note or on any Equipment Loan, then to installment payments of principal in the inverse order of maturity.
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Related to Voluntary Prepayment of Notes

  • Voluntary prepayment of Loan (a) The Borrowers may, if they give the Facility Agent not less than 15 Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of the Loan (but, if in part, being an amount that reduces the amount of the Loan by a minimum amount of $500,000 or a multiple of that amount).

  • Voluntary prepayment of Loans The Borrower to which a Loan has been made may, if it gives the Agent not less than five (5) Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Loan (but if in part, being an amount that reduces the Loan by a minimum amount of ten million dollars ($10,000,000)).

  • Voluntary Prepayment Subject to the following conditions, the Borrower may prepay the whole or any part of the Loan on the last day of an Interest Period.

  • Voluntary Prepayments (a) The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay any Term Loan in whole or in part without premium or penalty (other than as set forth in clause (b) below); provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans and LIBOR Daily Floating Rate Loans; (B) any such prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any such prepayment of LIBOR Daily Floating Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding). Each such notice shall specify the date and amount of such prepayment, the tranche of Terms Loans to be prepaid and the Type(s) of Term Loans to be prepaid. The Administrative Agent will promptly notify each applicable Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Term Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Voluntary Prepayments of Loans The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Term Loans of any Class in whole or in part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 1:00 p.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any such prepayment of Eurodollar Rate Loans 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); (iii) any prepayment of Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (iv) any prepayment of the Term Loans shall be in such proportions as the Borrower shall elect and each such prepayment shall be applied as directed by the Borrower and, absent such direction, shall be applied in direct order of maturity to the remaining principal amortization payments of the applicable Term Loan; and (v) any such notice may be conditioned on the effectiveness of other financing arrangements or one or more other transactions. Each such notice shall specify the date and amount of such prepayment and the Class and Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, subject to the occurrence of any condition(s) specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Class of Loans being prepaid of the applicable Lenders in accordance with their respective Applicable Percentages for such Class.

  • Mandatory Prepayment of Loans (a) Subject to Section 2.06(c), on the date of receipt by the Borrower or any Restricted Subsidiary (or affiliate thereof) of any Net Cash Proceeds, the Borrower shall prepay the Loans in an aggregate amount equal to such Net Cash Proceeds (together with any amounts due pursuant to Section 2.07 or Section 2.09); provided that the Borrower shall have no obligation to prepay the Loans (i) to the extent that such Net Cash Proceeds are attributable to a Disposition permitted by clauses (a), (c), (e), (f), (g), (h) and (j) of Section 7.04, (ii) to the extent that such Net Cash Proceeds for any Disposition are not in excess of $1,000,000 individually or $10,000,000 in the aggregate for all such Dispositions or (iii) with respect to any Casualty Event or any Disposition permitted pursuant to clause (k) (but only with respect to Dispositions of Core Assets that were acquired by the Borrower or any Restricted Subsidiary following the Availability Date (it being understood that any Net Cash Proceeds received from other Dispositions pursuant to clause (k) shall not be able to be reinvested pursuant to this clause (iii)) and clause (l) of Section 7.04, if, within 365 days after receipt of such Net Cash Proceeds, the Borrower uses such Net Cash Proceeds to purchase, or otherwise reinvests such Net Cash Proceeds in, Oil and Gas Interests useful in the business of the Credit Parties (in each case, as certified by the Borrower in a certificate of a Responsible Officer delivered to the Administrative Agent and the Lead Lender); provided further that, if all or any portion of such Net Cash Proceeds are not so reinvested within the time period specified (or such earlier date, if any, as the applicable Credit Party determines not to reinvest such Net Cash Proceeds as set forth above), such remaining portion shall be applied on the last date of such period (or such earlier date, as the case may be) as provided in this Section 2.06(a) without regard to this proviso.

  • Discounted Voluntary Prepayments (i) Notwithstanding anything to the contrary set forth in this Agreement (including Section 2.13) or any other Loan Document, the Borrower shall have the right at any time and from time to time to prepay Term Loans to the Lenders thereof at a discount to the par value of such Loans and on a non pro rata basis (each, a “Discounted Voluntary Prepayment”) pursuant to the procedures described in this Section 2.05(e); provided that (A) no proceeds from Revolving Credit Loans shall be used to consummate any such Discounted Voluntary Prepayment, (B) any Discounted Voluntary Prepayment hereunder must be offered to all relevant Term Lenders on a pro rata basis and must be offered simultaneously on a pro rata basis with a “Discounted Voluntary Prepayment” as defined in the other Group Credit Agreements, as applicable on a pro rata basis, (C) no Default shall have occurred and be continuing or would result from such Discounted Voluntary Prepayment, (D) no more than one Discounted Prepayment Option Notice shall be issued and pending at any one time and (E) the Borrower shall deliver to the Administrative Agent, together with each Discounted Prepayment Option Notice, a certificate of a Responsible Officer of the Borrower (1) stating that each of the conditions to such Discounted Voluntary Prepayment contained in this Section 2.05(e) has been satisfied and (2) specifying the aggregate principal amount of Term Loans to be prepaid pursuant to such Discounted Voluntary Prepayment.

  • Application of Voluntary Prepayments Unless otherwise provided in this Section 2.12 or elsewhere in any Loan Document, all payments and any other amounts received by the Administrative Agent from or for the benefit of the Borrower shall be applied to repay the Obligations the Borrower designates.

  • Voluntary Prepayments of Borrowings 25 Section 3.08 Payments, etc................................................................................26 Section 3.09 Interest Rate Not Ascertainable, etc.........................................................28 Section 3.10 Illegally....................................................................................28 Section 3.11

  • Prepayment of Loans (a) The Borrower 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.

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