Common use of Voluntary Prepayments of Term Loan Clause in Contracts

Voluntary Prepayments of Term Loan. The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part without premium or penalty; PROVIDED that (i) such notice must be received by the Administrative Agent not later than 11:00 a.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 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; and (iii) 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, in each case, 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. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender's Term Loan 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 thereon, together with any additional amounts required pursuant to SECTION 4.05. Each such prepayment shall be applied to the outstanding principal installments of the Term Loan in inverse order of maturity thereof (and shall be applied to the Term Loan of the Lenders in accordance with their respective Term Loan Percentages).

Voluntary Prepayments of Term Loan. The Subject to the following paragraph entitled “Excess Proceeds”, the Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part without premium or penalty; PROVIDED provided that (i) such notice must be received by the Administrative Agent not later than 11:00 a.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 prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 100,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 100,000 or a whole multiple of $100,000 in excess thereof or, in each case, 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. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender's ’s Term Loan 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 thereon, together with any additional amounts required pursuant to SECTION 4.05Section 3.05. Each such prepayment shall be applied to the outstanding principal installments of the Term Loan in inverse order of maturity thereof (and shall be applied to the Term Loan of the Lenders in accordance with their respective Term Loan Percentages).

Voluntary Prepayments of Term Loan. The Borrower may, upon notice to the Administrative Agent, at any time without premium or from time to time penalty, voluntarily prepay the Term Loan in whole or in part without premium or penalty; PROVIDED that the Principal Balance of the Term Loan, subject to the following conditions: (i) such notice must be received by the Administrative Agent not later less than 11:00 a.m. thirty (A30) three Business Days days prior to the expected date upon which Borrower desire to make any date of voluntary prepayment of Eurodollar Rate Loans the Term Loan, Borrower shall deliver to Lenders notice of their intention to prepay, which notice shall state the prepayment date and (B) on the date amount of prepayment the Principal Balance of Base Rate Loans; the Term Loan to be prepaid, and (ii) the amount of any partial prepayment of Eurodollar Rate Loans the Principal Balance of the Term Loan shall be not less than $100,000. The conditions set forth in the foregoing clauses (i) and (ii) shall not apply to any voluntary prepayment resulting from either (a) the regularly scheduled amortization payments of the Principal Balance of the Term Loan provided for under this Loan Agreement or (b) a principal amount Permitted Mortgaged Property Sale. Concurrently with any voluntary prepayment of $1,000,000 or a whole multiple the Principal Balance of $1,000,000 the Term Loan pursuant to this subsection 2.7.1, Borrower shall pay to Lenders accrued and unpaid interest on the portion of the Principal Balance of the Term Loan which is being prepaid to the date on which Lenders are in excess thereof; receipt of Good Funds, and any other sums which are due and payable pursuant to the terms of the Loan Instruments. Any voluntary partial prepayment of the Principal Balance of the Term Loan pursuant to this subsection 2.7.1 shall be applied in the following order of priority to the payment of: (i) any and all sums which are due and payable pursuant to the terms of the Loan Instruments, except the Principal Balance and accrued and unpaid interest thereon, (ii) accrued and unpaid interest on the portion of the Principal Balance being prepaid, (iii) 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, in each case, 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. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and installments of the amount of such Lender's Term Loan 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 thereon, together with any additional amounts required pursuant to SECTION 4.05. Each such prepayment shall be applied to the outstanding principal installments Principal Balance of the Term Loan in inverse order of maturity thereof and (and shall be applied to iv) the Term Loan Principal Balance of the Lenders in accordance with their respective Term Loan Percentages)Revolving Loan.

Voluntary Prepayments of Term Loan. The Borrower may, upon notice to the Administrative Agent, at any time or from time to time time, voluntarily prepay the Term Loan in whole or in part without premium or penalty; PROVIDED that (i) such notice must be received by the Administrative Agent not later than 11:00 a.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 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; and (iii) 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, in each case, 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. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender's Term Loan 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 thereon, together with any additional amounts required pursuant to SECTION 4.05. Each such prepayment shall be applied to the outstanding principal installments of the Term Loan in inverse the order of maturity thereof maturities (and shall be applied to the Term Loan of the Lenders in accordance with their respective Term Loan Percentages).

Voluntary Prepayments of Term Loan. The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part without premium or penalty; PROVIDED provided that (i) such notice must be received by the Administrative Agent not later than 11:00 a.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 prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 2,000,000 or a whole multiple of $1,000,000 500,000 in excess thereof; , and (iii) 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, in each case, 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. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender's Term Loan 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 thereon, together with any additional amounts required pursuant to SECTION Section 4.05. Each such prepayment shall be applied to the outstanding principal installments of the Term Loan in inverse order of maturity thereof (and shall be applied to the Term Loan of the Lenders in accordance with their respective Term Loan Percentages).