Examples of Payment Notification in a sentence
Any prepayment or repayment of Revolving Loans and any optional or mandatory prepayment of Term Loans shall be accompanied by timely delivery to Administrative Agent of an appropriately completed Payment Notification, as provided in Sections 2.2(b) and (c).
Upon receipt of any such Payment Notification, Administrative Agent will promptly notify each relevant Lender thereof.
If any such Payment Notification is given, the amount specified in such Payment Notification shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid and any additional amounts required pursuant Section 2.3(e).
In the absence of receipt by Administrative Agent of an appropriately completed Payment Notification on or prior to such prepayment, Administrative Agent shall be entitled, notwithstanding any contrary application provisions contained herein, to apply optional prepayments received from Borrowers in such manner as Administrative Agent shall determine in its sole and absolute discretion.
Each such Payment Notification shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if SOFR Loans are to be prepaid, the Interest Period(s) of such Loans, and the amount of the Applicable Premium (if any) to be paid.