Common use of Voluntary Repayments Clause in Contracts

Voluntary Repayments. Upon not less than three (3) Business Days' prior written notice to the Agent, the Borrower may make a Repayment on account of Prime Rate Loans outstanding under any Non-Revolving Facility in a minimum amount of One Hundred Thousand Dollars ($100,000) without payment of any penalty or fee (provided that such required minimum amounts shall not apply in the case of a Repayment of the entire Outstanding Principal Amount under such Non-Revolving Facility). Any such voluntary Repayment shall be applied against the Borrower's obligations to make scheduled Repayments under such Non-Revolving Facility in reverse chronological order; and the amount of credit available under such Non-Revolving Facility shall be automatically and permanently reduced by any such voluntary Repayment. The Agent shall promptly remit to each Lender under such Non-Revolving Facility its Proportionate Share of any such voluntary Repayment. For greater certainty however, Bankers’ Acceptances and BA Equivalent Loans may not be repaid prior to the maturity thereof.

Voluntary Repayments. Upon not less than three (3) Business Days' prior written notice to the Agent, the Borrower may make a Repayment on account of Prime Rate Loans outstanding under any Non-Revolving Facility in a minimum amount of One Hundred Thousand Dollars ($100,000) without payment of any penalty or fee (provided that such required minimum amounts shall not apply in the case of a Repayment of the entire Outstanding Principal Amount under such Non-Revolving Facility). Any such voluntary Repayment shall be applied against the Borrower's obligations to make scheduled Repayments under such Non-Revolving Facility in reverse chronological order; and the amount of credit available under such Non-Revolving Facility shall be automatically and permanently reduced by any such voluntary Repayment. The Agent shall promptly remit to each Lender under such Non-Revolving Facility its Proportionate Share of any such voluntary Repayment. For greater certainty however, Bankers’ ' Acceptances and BA Equivalent Loans may not be repaid prior to the maturity thereof.