Voluntary Prepayment; Termination of Agreement by Borrower Sample Clauses

Voluntary Prepayment; Termination of Agreement by Borrower. The Borrower may, in its discretion, prepay the Advances in whole at any time or from time to time in part, without penalty or premium. If the Borrower desires to terminate this Agreement as of any date other than the Termination Date, the Borrower shall give at least 30 days' prior written notice to the Lender of the Borrower's intention to do so. Upon compliance with the foregoing requirement and subject to payment and performance of all the Borrower's obligations to the Lender, the Borrower may obtain any release or termination of the Security Interest in the Collateral to which the Borrower is otherwise entitled by law. The Borrower acknowledges and agrees that it has no right or ability to reduce in part the Commitment without the prior written consent of the Lender.
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Voluntary Prepayment; Termination of Agreement by Borrower. Borrower may, in its discretion, prepay the Advances in whole or in part at any time or from time to time. The Commitment automatically shall be reduced dollar-for-dollar by the aggregate amount prepaid pursuant to this Section 2.5. Parent, on behalf of Borrower, may terminate this Agreement at any time by giving at least 30 days' prior written notice to Lender of Borrower's intention to terminate this Agreement and by paying in full the amount of all of Borrowers' obligations under this Agreement and the Secured Note.
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Voluntary Prepayment; Termination of Agreement by Borrower. (a) Either Borrower may, in its discretion, prepay its Note in whole or from time to time in part without penalty or premium. (b) The Borrowers may terminate this Agreement at any time and, subject to payment and performance of all the Borrowers' obligations to the Lender, may obtain any release or termination of the Security Interests to which the Borrower is otherwise entitled by law by (i) giving at least 30 days' prior written notice to the Lender of the Borrowers' intention to terminate this Agreement; and (ii) paying the Lender a termination fee equal to 2.0% of the Commitment if such termination occurs prior to October 1, 1997, and 1.5% of the Commitment if such termination occurs after September 30, 1997, if the Borrowers terminate this Agreement effective as of any date other than the Termination Date or under circumstances whereby the Credit Facility is refinanced by a lender other than an affiliate of Norwest Corporation or if either Borrower enters into a credit facility with or borrows money from any source other than an affiliate of Norwest Corporation within 90 days from the date of such termination. Notwithstanding the foregoing no termination fee shall be payable if this Agreement is terminated within 60 days of the date on which the Lender requests reimbursement from the Borrower pursuant to Section 2.11.
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Voluntary Prepayment; Termination of Agreement by Borrower. (a) The Borrower may, in its discretion, prepay the Revolving Note in whole or from time to time in part without penalty or premium. (b) The Borrower may, in its discretion, prepay the Term Note in whole or from time to time in part, PROVIDED, HOWEVER, that the Term Note may not be prepaid from the proceeds of a loan provided by a lender other than the Lender (or an affiliate of Norwest Corporation) unless the Borrower first provides the Lender with the opportunity of providing such credit facility on the same terms as such lender and the Lender declines to do so. If such prepayment is not made with the proceeds of a loan or other financing from an affiliate of Norwest Corporation, the Borrower shall pay a prepayment premium equal to two percent (2%) of the amount of such prepayment. (c) The Borrower may terminate this Agreement at any time and, subject to payment and performance of all the Borrower's obligations to the Lender, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by (i) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement; and (ii) paying the Lender a prepayment fee of two percent (2%) of the Commitment if the prepayment occurs on or before July 7, 1997, and one percent (1%) of the Commitment if the prepayment occurs after July 7, 1997, but prior to the Termination Date, unless the Credit Facility is refinanced by an affiliate of Norwest Corporation, the outstanding Advances are repaid solely out of the cash flow of the Borrower or by the proceeds of the sale by the Borrower of equity securities and the Borrower does not obtain another credit facility with another lender within 90 days following such termination, or the termination occurs within 60 days after demand by the Lender for payment of compensation pursuant to Section 2.12." 11. Section 2.5 of the Credit Agreement is hereby amended by amending the first sentence thereof to read in its entirety as follows:
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Voluntary Prepayment; Termination of Agreement by Borrower. Except as otherwise provided herein, the Borrower may, in its discretion, prepay the Advances in whole at any time or from time to time in part. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all the Borrower's obligations to the Lender, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by (a) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement; and (b) paying the Lender a prepayment fee of two percent (2%) of the Commitment if the termination occurs on or before December 31, 1997, and one percent (1%) of the Commitment if the termination occurs after December 31, 1997, but prior to the Termination Date, unless (i) the Credit Facility is refinanced by an affiliate of Norwest Corporation, or (ii) the Credit Agreement is terminated by the Borrower within 90 days of a request by the Lender for payment of additional compensation pursuant to Section 2.12.
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Related to Voluntary Prepayment; Termination of Agreement by Borrower

  • Prepayment; termination of Commitment On the Agent notifying the Borrower under Clause 23.2, the Notifying Lender’s Commitment shall terminate; and thereupon or, if later, on the date specified in the Notifying Lender’s notice under Clause 23.1 as the date on which the notified event would become effective the Borrower shall prepay the Notifying Lender’s Contribution in accordance with Clause 8.

  • Early Termination by Borrowers Borrowers have the option, at any time upon 10 Business Days prior written notice to Agent, to terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full. The foregoing notwithstanding, (a) Borrowers may rescind termination notices relative to proposed payments in full of the Obligations with the proceeds of third party Indebtedness if the closing for such issuance or incurrence does not happen on or before the date of the proposed termination (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld or delayed).

  • Early Termination by Borrower Borrower has the option, at any time upon 90 days prior written notice to Lender, to terminate this Agreement by paying to Lender, in cash, the Obligations (including (a) either (i) providing cash collateral to be held by Lender in an amount equal to 105% of the Letter of Credit Usage, or (ii) causing the original Letters of Credit to be returned to Lender, and (b) providing cash collateral (in an amount determined by Lender as sufficient to satisfy the reasonably estimated credit exposure) to be held by Lender for the benefit of the Bank Product Providers with respect to the Bank Product Obligations), in full, together with the Applicable Prepayment Premium. If Borrower has sent a notice of termination pursuant to the provisions of this Section, then Lender's obligations to extend credit hereunder shall terminate and Borrower shall be obligated to repay the Obligations (including (a) either (i) providing cash collateral to be held by Lender in an amount equal to 105% of the Letter of Credit Usage, or (ii) causing the original Letters of Credit to be returned to Lender, and (b) providing cash collateral (in an amount determined by Lender as sufficient to satisfy the reasonably estimated credit exposure) to be held by Lender for the benefit of the Bank Product Providers with respect to the Bank Product Obligations), in full, together with the Applicable Prepayment Premium, on the date set forth as the date of termination of this Agreement in such notice. In the event of the termination of this Agreement and repayment of the Obligations at any time prior to the Maturity Date, for any other reason, including (a) termination upon the election of Lender to terminate after the occurrence and during the continuation of an Event of Default, (b) foreclosure and sale of Collateral, (c) sale of the Collateral in any Insolvency Proceeding, or (d) restructure, reorganization, or compromise of the Obligations by the confirmation of a plan of reorganization or any other plan of compromise, restructure, or arrangement in any Insolvency Proceeding, then, in view of the impracticability and extreme difficulty of ascertaining the actual amount of damages to Lender or profits lost by Lender as a result of such early termination, and by mutual agreement of the parties as to a reasonable estimation and calculation of the lost profits or damages of Lender, Borrower shall pay the Applicable Prepayment Premium to Lender, measured as of the date of such termination.

  • Termination by Borrower Upon at least sixty (60) days prior written notice to Lender, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid all of the Obligations in immediately available funds and all Letters of Credit and LC Guaranties have expired or have been cash collateralized to Lender's satisfaction. Any notice of termination given by Borrower shall be irrevocable unless Lender otherwise agrees in writing, and Lender shall have no obligation to make any Loans or issue or procure any Letters of Credit or LC Guaranties on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

  • Termination by Borrowers Upon at least thirty (30) days’ prior written notice to Agent and Lenders, Borrowers may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.2(d). Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

  • Voluntary Termination or Reduction of Commitments (a) Each Borrower may, upon not less than three Business Days' prior notice from the Borrowers' Designee to the Agent, terminate the Commitments, or permanently reduce the Commitments by an aggregate minimum Dollar Equivalent Amount of at least $5,000,000; unless, after giving effect thereto and to any ------ prepayments of any Loans made on the effective date thereof, (a) the Effective Amount of all Revolving Loans, Swingline Loans and L/C Obligations together would exceed the Aggregate Commitment then in effect, or (b) the Effective Amount of all L/C Obligations then outstanding would exceed the L/C Commitment. Once reduced in accordance with this Section 2.9, the Commitments may not be increased. Any reduction of the Commitments shall be applied to each Bank according to its Pro Rata Share. If and to the extent specified by the Borrowers' Designee in the notice to the Agent, some or all of the reduction in the Aggregate Commitment shall be applied to reduce the L/C Commitment and the Swingline Commitment. All accrued facility and letter of credit fees to, but not including, the effective date of any termination of the Commitments shall be paid on the effective date of such termination. The Agent shall promptly forward a copy of any such notice received under this subsection 2.9 (a) to each of the Banks. (b) At no time shall the Swingline Commitment exceed the Aggregate Commitment, and any reduction of the Commitments (under this Section 2.9 or under Section 2.12) which reduces the Aggregate Commitment below the then- current amount of the Swingline Commitment shall result in an automatic corresponding reduction of the Swingline Commitment to the amount of the Aggregate Commitment, as so reduced, without any action on the part of the

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, that in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

  • Voluntary prepayment of Loans The Borrower may, if it gives the Agent not less than 5 Business Days’ (or such shorter period as the Majority Lenders may agree) prior written notice, prepay the whole or any part of a Loan (but, if in part, being an amount that reduces the Base Currency Amount of the Loan by a minimum amount of EUR 20,000,000).

  • Voluntary Prepayments The Borrower may, upon delivery of a Notice of Loan Prepayment from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in part without premium or penalty; provided that (A) such notice must be in a form acceptable to the Administrative Agent and 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; (B) 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); and (C) 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). Each such notice shall specify the date and amount of such prepayment and the 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; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Aggregate Revolving Commitments as contemplated by Section 2.06, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.06. 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 Loans of the Lenders in accordance with their respective Applicable Percentages.

  • 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.

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