Compulsory Prepayment. 4.03A Grounds for prepayment
Compulsory Prepayment. Prepayment Events Project cost reduction If the total cost of the Project falls below the figure stated in Recital (c) so that the amount of the Credit exceeds: 50% (fifty per cent); and/or when aggregated with the amount of any other funds from the European Union made available for the Project, 90% (ninety per cent), of such total cost of the Project, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan up to the amount by which the Credit exceeds the limits referred to in (a) or (b) above. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. Pari Passu to non-EIB Financing If the Borrower voluntarily prepays (for the avoidance of doubt, prepayment shall include a repurchase or cancellation where applicable) a part or the whole of any Non-EIB Financing and: such prepayment is not made within a revolving credit facility (save for the cancellation of the revolving credit facility); or such prepayment is not made out of the proceeds of a loan or other indebtedness having a term at least equal to the unexpired term of the Non-EIB Financing prepaid, the Bank may, by notice to the Borrower, cancel the undisbursed portion of the Credit and demand prepayment of the Loan. The proportion of the Loan that the Bank may require to be prepaid shall be the same as the proportion that the prepaid amount of the Non-EIB Financing bears to the aggregate outstanding amount of all Non-EIB Financing. The Borrower shall effect payment of the amount demanded on the date specified by the Bank, such date being a date falling not less than 30 (thirty) days from the date of the demand. For the purposes of this Article, "Non-EIB Financing" includes any loan, (save for the Loan and any other direct loans from the Bank to the Borrower, credit bond or other form of financial indebtedness or any obligation for the payment or repayment of money originally granted to the Borrower for a term of more than 5 (five) years.
Compulsory Prepayment. A. If the Borrower voluntarily prepays a part or the whole of any other loan originally contracted for a term of more than five years, the Bank may demand prepayment of such proportion of the amount of the Loan then outstanding as the prepaid sum bears to the aggregate outstanding amount of all such loans. The Bank shall address its demand, if any, to the Borrower within four weeks of receipt of the relevant notice under Sub-paragraph 8.02(a). Any sum demanded by the Bank shall be paid, together with accrued interest, on the date indicated by the Bank, which date shall not precede the date of prepayment of such other loan. Prepayment of a loan by means of a new loan having a term at least as long as the unexpired term of the loan prepaid shall not be considered to be a prepayment.
Compulsory Prepayment. A. If, on or after 31 March 2006, the Bank, having approved or declined Allocation Requests, shall establish that the sum of the original amounts of all Tranches disbursed hereunder exceeds the sum of all Allocations made hereunder, the Borrower shall prepay the excess amount on first demand of the Bank. Such prepayment shall be made on a date determined by the Bank falling not earlier than 15 days from the Borroweržs receipt of the Bankžs demand for prepayment.
Compulsory Prepayment. Prepayment Events
Compulsory Prepayment