PREPAYMENT AND CANCELLATION definition

PREPAYMENT AND CANCELLATION. The Borrower may permanently prepay the Facility in ------------- whole or in part, subject to the following: * All prepayments, during the Term Phase, will be made in inverse order of maturity; * Availments by way of commodity swaps (financial or physical), forward rate agreements and forward exchange contracts may be prepaid only at maturity except where the Borrower agrees to pay CIBC's breaking costs due to early redemption of offsetting positions or otherwise, including all costs associated with reversing positions, provided such early redemption is possible; and * the Borrower may at any time, upon giving CIBC two Banking Days prior notice, cancel any unused part of the Facility and any cancelled portion will not be reinstated. RATES AND STAMPING FEES: Revolving Phase * CIBC Prime Rate in effect from time to time plus 3/4 of 1% per annum with interest payable monthly in arrears. Term Phase * CIBC Prime Rate in effect from time to time plus 1 3/4% per annum with interest payable monthly in arrears. STANDBY FEE: During the Revolving Phase, a Standby Fee of 1/4 of ------------ 1% per annum calculated on the undrawn portion of the available and unused Production Loan is payable monthly in arrears. RENEWAL FEE: $5,000 is payable upon the Borrower's acceptance of ------------ the terms and conditions hereof.
Sample 1
PREPAYMENT AND CANCELLATION. The Borrower may permanently prepay the Facility in whole or in part, subject to the following: * All prepayments, during the Term Phase, will be made in inverse order of maturity; * Availments by way of commodity swaps (financial or physical), forward rate agreements and forward exchange contracts may be prepaid only at maturity except where the Borrower agrees to pay CIBC's breaking costs due to early redemption of offsetting positions or otherwise, including all costs associated with reversing positions, provided such early redemption is possible; and * the Borrower may at any time, upon giving CIBC two Banking Days prior notice, cancel any unused part of the Facility and any cancelled portion will not be reinstated. RATES AND STAMPING FEES: REVOLVING PHASE * CIBC Prime Rate in effect from time to time plus 1/2 of 1% per annum with interest payable monthly in arrears.
Sample 1

Examples of PREPAYMENT AND CANCELLATION in a sentence

  • Optional Currencies 26 SECTION 4 REDUCTION, REPAYMENT, PREPAYMENT AND CANCELLATION 7.

  • PREPAYMENT AND CANCELLATION...............................................................

  • Utilisation 62 SECTION 4 64 REPAYMENT, PREPAYMENT AND CANCELLATION 64 6.

  • ANY TERMINATION OF THE COMMITMENTS SHALL BE ACCOMPANIED BY PREPAYMENT IN FULL OF THE LOANS, TOGETHER WITH ACCRUED INTEREST THEREON TO THE DATE OF SUCH PREPAYMENT, AND CANCELLATION OF ALL LETTERS OF CREDIT.

Related to PREPAYMENT AND CANCELLATION

  • Mandatory Prepayments has the meaning given to such term in Section 1.2(b).

  • Mandatory Prepayment shall have the meaning set forth in Section 2.1(c).

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Prepayments means any moneys which shall be paid to the Issuer prior to the time such amounts become due. Prepayments shall not include any interest paid on such moneys.

  • Waivable Mandatory Prepayment shall have the meaning assigned to such term in Section 2.11(e).

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Mandatory Prepayment Event means any of the following:

  • Prepayment means, with respect to any Receivable, any prepayment, whether in part or in full, in respect of such Receivable.

  • ECF Prepayment Amount has the meaning assigned to such term in Section 2.11(b)(i).

  • Voluntary Prepayment means a prepayment of principal of Term Loans pursuant to Section 2.05(a) in any year to the extent that such prepayment reduces the scheduled installments of principal due in respect of Term Loans as set forth in Section 2.07 in any subsequent year.

  • prepayment meter means a meter that can be programmed to allow the flow of pre-purchased amounts of energy in an electrical circuit;

  • Discounted Voluntary Prepayment has the meaning specified in Section 2.05(d)(i).

  • Borrower Offer of Specified Discount Prepayment means the offer by any Company Party to make a voluntary prepayment of Term Loans at a Specified Discount to par pursuant to Section 2.05(a)(v)(B).

  • Partial Prepayment Amount means the amount required to prepay a portion of the Annual Special Tax obligation for an Assessor’s Parcel as described in Section H.

  • Prepayment In Full With respect to any Mortgage Loan, a Mortgagor payment consisting of a Principal Prepayment in the amount of the outstanding principal balance of such loan and resulting in the full satisfaction of such obligation.

  • Specified Discount Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee and (iii) any late charges incurred under the provisions of a Loan Agreement.

  • Full Prepayment Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Specified Discount Prepayment Response means the irrevocable written response by each Term Lender, substantially in the form of Exhibit K, to a Specified Discount Prepayment Notice.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Prepayment Asset Sale means any Disposition by the Borrower or its Restricted Subsidiaries made pursuant to Section 6.07(h).

  • Discount Range Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(C)(1).

  • Loan repayment means the cancellation and repayment of loans

  • Principal Prepayment in Full Any Principal Prepayment made by a Mortgagor of the entire principal balance of a Mortgage Loan.