Common use of Optional Payments Clause in Contracts

Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Advances; provided, that the Borrower may not so prepay Advances unless it shall have provided at least one Business Day's written notice to the Lender of such prepayment.

Appears in 2 contracts

Samples: Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc)

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Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Advances; provided, however, that the Borrower may not so prepay Advances unless it shall have provided at least one Business Day's written notice to the Lender Agent of such prepaymentprepayment by 12:00 noon on the day such payment will be made, and the amount of such prepayment is not less than $500,000.00.

Appears in 2 contracts

Samples: Credit Agreement (Sonic Automotive Inc), Credit Agreement (Sonic Automotive Inc)

Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Advances; provided, however, that the Borrower may not so prepay Advances unless it shall have provided at least one Business Day's written notice to the Lender Agent of such prepaymentprepayment by 12:00 p.m. on the day such payment will be made, and the amount of such prepayment is not less than $500,000.00.

Appears in 1 contract

Samples: Credit Agreement (Sonic Automotive Inc)

Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Advances; provided, however, that the Borrower may not so prepay Advances unless it shall have provided at least one Business Day's written notice to Agent not less than 3 Business Days prior to the Lender date of such prepayment stating the proposed date and the aggregate principal amount of the prepayment. The amount of any such partial prepayment must be no less than $500,000.00, and in multiples of $100,000.00 if in excess thereof.

Appears in 1 contract

Samples: Security Agreement (Asbury Automotive Group Inc)

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Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Advances; provided, however, that the Borrower may not so prepay Advances unless it shall have provided at least one Business Day's written notice to the Lender of such prepaymentprepayment by 12:00 p.m. on the day such payment will be made, and the amount of such prepayment is not less than $500,000.00."

Appears in 1 contract

Samples: Credit Agreement (Sonic Automotive Inc)

Optional Payments. The Borrower may from time to time repay or prepay, prepay without penalty or premium all or any part of the outstanding Advances; provided, however, that any such payment must be at least $500,000.00, and that the Borrower may not so prepay Advances unless it shall have provided at least one must provide Agent with notice by 12:00 noon (Eastern Standard Time) two Business Day's written notice Days prior to such payment for payments over $50,000,000.00 and by 12:00 noon on the Lender day of such prepaymentpayment for payments of $50,000,000.00 or less.”

Appears in 1 contract

Samples: Credit Agreement (Sonic Automotive Inc)

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