Early Repayment Event definition
Examples of Early Repayment Event in a sentence
In case of an Early Repayment Event, the CEO shall notify the Lender, with five Business Days’ notice prior to the date of early repayment for such Early Repayment Event, such notification to include (i) the proposed date of early repayment which shall be a Business Day and (ii) the portion of the Principal Amount to be repaid and the amount of accrued Interest.
On the occurrence of an Early Repayment Event and following notification given to the Borrower by the Bank, the Commitments shall be cancelled in full forthwith and the Borrower shall repay each Advance made to it in full to the Bank on such date as is specified by the Bank.
The portion of the Loan to be so repaid shall become immediately due and payable on the date of early repayment specified in such notification for such Early Repayment Event (the “Early Repayment Date”).
On the occurrence of an Early Repayment Event and following notification given to the Borrower by the Agent (on behalf of the Majority Banks), the Total Commitments shall be cancelled in full forthwith and the Borrower shall repay each Advance made to it in full to the Agent for the Banks on such date as is specified by the Agent.
No Event of Default, Potential Event of Default or Early Repayment Event has occurred on or before that date, or will occur as a result of making that Advance, other than any waived in accordance with Clause 28.2 (Amendments, Waivers and Consents).
The Borrower will notify the Agent in writing of the occurrence of any Event of Default or Potential Event of Default (other than an Excluded Default) and any Early Repayment Event (and of any action taken or proposed to be taken to remedy it) promptly and in any event within three Business Days after becoming aware of it.
The portion of the Loan to be so repaid shall become immediately due and payable on the date of early repayment specified in such notification for such Early Repayment Event (the "Early Repayment Date").
The Borrower will notify the Agent in writing of the occurrence of any Event of Default or Potential Event of Default (other than an Excluded Default) and any Early Repayment Event (and of any action taken or proposed to be taken to remedy it) promptly and in any event within 3 Business Days after becoming aware of it.
No Event of Default or Potential Event of Default (other than an Excluded Default) or Early Repayment Event has occurred on or before the date of the Advance, or will occur as a result of making that Advance, other than any waived in accordance with Clause27.2 (Amendments, Waivers and Consents).
To avoid doubt, the occurrence of an Early Repayment Event, in and of itself, does not constitute an Event of Default or any other default or breach by any party of an obligation under a Transaction Document.