Common use of Voluntary Prepayments of the Loan Clause in Contracts

Voluntary Prepayments of the Loan. From and after the second anniversary of the Closing Date (it being understood and agreed that the Loan may not be prepaid in whole or in part in accordance with this Section 2.05(a) or otherwise (other than mandatory prepayments pursuant to Section 2.05(b) below and other than Permitted Par Prepayments pursuant to Section 2.05(a)(iii) below) prior to the second anniversary of the Closing Date), so long as no Event of Default exists, the Borrower may, upon Xxxxxxxx’s delivery to the Administrative Agent of a (1) three U.S. Government Securities Business Days prior to any date of prepayment if the Loan is then a SOFR Loan and (2) on the date of prepayment if the Loan is then a Base Rate Loan; (ii) any such prepayment shall, (A) if the Loan is then a SOFR Loan, be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire Outstanding Amount of the Loan), (B) if the Loan is then a Base Rate Loan, be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire Outstanding Amount of the Loan) and (C) be accompanied by the applicable Prepayment Premium (if any); and (iii) from and after the first anniversary of the Closing Date, the Borrower shall have the right to prepay the Loan on any Interest Payment Date thereafter in an amount which not in excess of $1,500,000 per Interest Payment Date (any such prepayment, a “Permitted Par Prepayment” and such amount, the “Permitted Par Prepayment Basket”). Any such Permitted Par Prepayment shall not require the payment of any Prepayment Premium but such prepayment shall otherwise be subject to the other applicable requirements of this Section 2.05. If, after delivering a Notice of Loan Prepayment for a Permitted Par Prepayment on any Interest Payment Date after the first anniversary of the Closing Date, the Borrower either does not make such Permitted Par Prepayment or makes a Permitted Par Prepayment but in an amount that is less than the Permitted Par Prepayment Basket, then in either such case, the unused portion of the Permitted Par Prepayment Basket shall not be carried forward to any subsequent Interest Payment Date. Each Notice of Loan Prepayment shall be irrevocable and shall specify the date on which such prepayment shall occur, the 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 Applicable Percentage thereof. With respect to any such Notice of Loan Prepayment, the Borrower shall make the prepayment and the payment amount specified in such notice (together with the applicable Prepayment Premium) shall be due and payable on the date specified therein. Any prepayment of the Loan shall be accompanied by all accrued and unpaid interest on the amount prepaid, together with (if such Loan is a SOFR Loan) any additional amounts required pursuant to Section 3.05, through and including the date the prepayment is received by the Administrative Agent on a Business Day prior to 11:00 a.m. on such Business Day (provided that if the prepayment is received on a Business Day after 11:00 a.m., it shall be deemed received on the next Business Day). Each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

Voluntary Prepayments of the Loan. From and after the second anniversary of the Closing Date (it being understood and agreed that the Loan may not be prepaid in whole or in part in accordance with this Section 2.05(a) or otherwise (other than mandatory prepayments pursuant to Section 2.05(b) below and other than Permitted Par Prepayments pursuant to Section 2.05(a)(iii) below) prior to the second anniversary of the Closing Date), so long as no Event of Default exists, the Borrower may, upon XxxxxxxxBorrower’s delivery to the Administrative Agent of aa Notice of Loan Prepayment, at any time or from time to time voluntarily prepay the Loan in whole or in part; provided that: (i) such Notice of Loan Prepayment must be received by the Administrative Agent not later than 11:00 a.m. (1) three U.S. Government Securities Business Days prior to any date of prepayment if the Loan is then a SOFR Eurodollar Rate Loan and (2) on the date of prepayment if the Loan is then a Base Rate Loan; (ii) any such prepayment shall, (A) if the Loan is then a SOFR Eurodollar Rate Loan, be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire Outstanding Amount of the Loan), (B) if the Loan is then a Base Rate Loan, be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire Outstanding Amount of the Loan) and (C) be accompanied by the applicable Prepayment Premium (if any); and (iii) from and after the first anniversary of the Closing Date, the Borrower shall have the right to prepay the Loan on any Interest Payment Date thereafter in an amount which not in excess of $1,500,000 per Interest Payment Date (any such prepayment, a “Permitted Par Prepayment” and such amount, the “Permitted Par Prepayment Basket”). Any such Permitted Par Prepayment shall not require the payment of any Prepayment Premium but such prepayment shall otherwise be subject to the other applicable requirements of this Section 2.05. If, after delivering a Notice of Loan Prepayment for a Permitted Par Prepayment on any Interest Payment Date after the first anniversary of the Closing Date, the Borrower either does not make such Permitted Par Prepayment or makes a Permitted Par Prepayment but in an amount that is less than the Permitted Par Prepayment Basket, then in either such case, the unused portion of the Permitted Par 29 Prepayment Basket shall not be carried forward to any subsequent Interest Payment Date. Each Notice of Loan Prepayment shall be irrevocable and shall specify the date on which such prepayment shall occur, the 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 Applicable Percentage thereof. With respect to any such Notice of Loan Prepayment, the Borrower shall make the prepayment and the payment amount specified in such notice (together with the applicable Prepayment Premium) shall be due and payable on the date specified therein. Any prepayment of the Loan shall be accompanied by all accrued and unpaid interest on the amount prepaid, together with (if such Loan is a SOFR Eurodollar Rate Loan) any additional amounts required pursuant to Section 3.05, through and including the date the prepayment is received by the Administrative Agent on a Business Day prior to 11:00 a.m. on such Business Day (provided that if the prepayment is received on a Business Day after 11:00 a.m., it shall be deemed received on the next Business Day). Each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

Voluntary Prepayments of the Loan. From and after the second anniversary of the Closing Date (it being understood and agreed that a) The Borrower may prepay the Loan may not be prepaid (in whole or in part in accordance with this Section 2.05(apart) or otherwise at any time on five (other than mandatory prepayments pursuant to Section 2.05(b5) below and other than Permitted Par Prepayments pursuant to Section 2.05(a)(iii) below) prior to the second anniversary of the Closing Date), so long as no Event of Default exists, the Borrower may, upon Xxxxxxxx’s delivery to the Administrative Agent of a (1) three U.S. Government Securities Business Days prior written notice to any date of prepayment if the Loan is then a SOFR Loan and Lender (2) on the date of prepayment if the Loan is then a Base Rate Loan; (ii) any such prepayment shall, (A) if the Loan is then a SOFR Loan, be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire Outstanding Amount of the Loan), (B) if the Loan is then a Base Rate Loan, be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire Outstanding Amount of the Loan) and (C) be accompanied by the applicable Prepayment Premium (if any); and (iii) from and after the first anniversary of the Closing Date, the Borrower shall have the right to prepay the Loan on any Interest Payment Date thereafter in an amount which not in excess of $1,500,000 per Interest Payment Date (any such prepaymenteach, a “Permitted Par Prepayment” and such amount, the “Permitted Par Prepayment BasketNotice”). Any such Permitted Par Prepayment . (b) The Borrower shall not require the payment of any Prepayment Premium but make such prepayment shall otherwise be subject to the other applicable requirements of this Section 2.05. If, after delivering a Notice of Loan Prepayment for a Permitted Par Prepayment on any Interest Payment Date after the first anniversary no later than five (5) Business Days following delivery of the Closing DatePrepayment Notice, the Borrower either does not make such Permitted Par together with all other costs, fees, interest payments or charges then due. (c) Each Prepayment or makes a Permitted Par Prepayment but in an amount that is less than the Permitted Par Prepayment Basket, then in either such case, the unused portion of the Permitted Par Prepayment Basket shall not be carried forward to any subsequent Interest Payment Date. Each Notice of Loan Prepayment shall be irrevocable and shall specify state whether the prepayment contemplated therein is for the full amount outstanding hereunder or for a part of the amount outstanding hereunder. In the event such prepayment is a partial prepayment, the Prepayment Notice shall stipulate the amount of such proposed prepayment (the “Partial Prepayment Amount”). In any case, such prepayment shall be made as follows: (i) if such prepayment is of the entire outstanding amount of (A) the Loan, the Borrower shall pay to the Lender an amount in cash equal to the amount arrived at when (i) dividing the Full Prepayment Amount by the product of the Pre-Milestone Discount or the Post-Milestone Discount (as applicable) multiplied by the Spot Price on the date on which such prepayment shall occur, the amount of such prepayment and the Type(s) of Loans is required to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each made and (ii) multiplying the result thereof by such notice Spot Price; and of (B) the amount of such Lender’s Applicable Percentage thereof. With respect to any such Notice of Loan PrepaymentRevolving Credit Facility, the Borrower shall make pay to the prepayment and Lender an amount in cash equal to the payment amount specified in such notice (of all Advances made under the Revolving Credit Facility which remain outstanding, together with the applicable Prepayment PremiumAggregate Default Revolving Gold and Silver Facility Fee; and (ii) shall be due and payable on the date specified therein. Any if such prepayment is a partial prepayment of the outstanding amount of the Loan, the Borrower shall pay to the Lender an amount in cash equal to the Partial Prepayment Amount, and after such full prepayment, the Facility and the Revolving Credit Facility (and the Commitment Amount and the Revolving Credit Limit) shall automatically be reduced to zero; and together with any of the foregoing prepayments of the Loan under (a) or (b) above, the Borrower shall be accompanied by all simultaneously pay the Lender any accrued and unpaid interest on any part of the amount prepaid, Loan so prepaid together with (if such all other fees, charges and costs and other amounts payable hereunder. On the day the Partial Prepayment Amount is paid to the Lender, the Loan is a SOFR Loan) any additional amounts required pursuant to Section 3.05, through and including the date the prepayment is received by the Administrative Agent on a Business Day prior to 11:00 a.m. on such Business Day (provided that if the prepayment is received on a Business Day after 11:00 a.m., it shall be deemed received on to be repaid in an amount equal to the next Business Day). Each such prepayment product of the Partial Prepayment Amount multiplied by the Pre-Milestone Discount or the Post-Milestone Discount (as applicable) (the“Discounted Partial Prepayment Amount”) and, for the purpose of determining the remaining Monthly Repayment Ounces, the remaining Monthly Repayment Figures shall be applied reduced by the Discounted Partial Prepayment Amount in manner determined by the Lender acting reasonably and in its sole discretion. Promptly and (in any event, within five Business Days) after such partial prepayment, the Borrower shall deliver to the Loans of Lender a revised Schedule 1.1(a) showing the Lenders adjusted Monthly Repayment Figures, all in accordance with their respective Applicable Percentagesform and substance satisfactory to the Lender.