Prepayments and Reductions. 52 8.8 Prime Rate, Base Rate, US Prime Rate and LIBOR Advances.......................................53 8.9
Prepayments and Reductions. (1) Subject to giving notice required by Section 5.3, the Borrower may from time to time repay Advances outstanding under the Credit without premium or penalty, except that Banker’s Acceptances and BA Equivalent Loans may not be paid prior to their respective maturity dates.
Prepayments and Reductions. 5.7.1 Subject to giving notice required by Section 5.6, the Borrowers may from time to time repay Advances outstanding under the Credit without penalty, except that:
Prepayments and Reductions. Subject to giving notice required by Section 5.6 and to the other provisions of this Agreement, the Borrower may from time to time repay Advances outstanding under any Credit without penalty, except that (i) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Periods unless the Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs and (ii) Bankers' Acceptances may not be paid prior to their respective maturity dates. The Borrower may from time to time, by giving not less than three Business Days' express written notice to the Agent and paying all accrued and unpaid commitment fees to the effective date of cancellation, irrevocably notify the Agent of the cancellation in whole or in part of the undrawn amount of any Credit by an amount which shall be a minimum of $1,000,000 and a whole multiple of $100,000, or the equivalent thereof in US Dollars. The Borrower shall have no right to any increase in the committed amount of that Credit thereafter.
Prepayments and Reductions. Due to an Event of Loss. No later than the earlier of (x) the second Business Day following the date of receipt by Company or any of its Subsidiaries of any Insurance Proceeds or Condemnation Proceeds with respect to a Financed Aircraft or (y) 180 days following an Event of Loss with respect to a Financed Aircraft, Company shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), the Loans associated with such Financed Aircraft; provided that Company and its Subsidiaries shall not be required to make a prepayment pursuant to this subsection 2.4B(iii)(d) with respect to any proceeds applied pursuant to Section 4(f)(vi)(A) or 4(f)(vi)(B) of any Aircraft Chattel Mortgage.
Prepayments and Reductions. Subject to giving notice required by Section 4.5, the Borrower may from time to time repay Advances outstanding under the Credit without penalty, except that LIBOR Advances may not be paid before the end of the applicable LIBOR Periods unless the Borrower indemnifies the Lenders for any breakage costs that the Lenders incur as a result, and Bankers' Acceptances may not be paid before their respective maturity dates. The Borrower may from time to time, by giving not less than three Business Days' express written notice to the Agent and paying all accrued and unpaid standby fees to the effective date of cancellation or reduction, irrevocably notify the Agent of the cancellation of the Credit or of the permanent reduction of the committed amount of the Credit by an amount which shall be a minimum of $1,000,000 and a whole multiple of $100,000. The Borrower shall have no right to any increase in the committed amount of the Credit thereafter.
Prepayments and Reductions from Net Insurance/Condemna tion ----------------------------------------------------------- Proceeds. No later than the first Business Day following the date of -------- receipt by Agents or by Company or any of its Subsidiaries of any Net Insur ance/Condemnation Proceeds that are required to be applied to prepay the Loans pursuant to the provisions of subsection 6.4B, Company shall prepay in an amount equal to such Net Insurance/Condemnation Proceeds first the Term Loans to the full ----- extent thereof, second after the second anniversary of the Closing ------ Date, the Acquisition Loans and third the Revolving Loans. ----- Concurrently with any prepayment of the Loans and/or reduction of the Revolving Loan Commitments pursuant to this subsection 2.4B(iii)(e), Company shall deliver to Administrative Agent an Officers' Certificate demonstrating the calculation of the amount (the "NET PROCEEDS AMOUNT") of the Net Insurance/Condemnation Proceeds, that gave rise to such prepayment and/or reduction. In the event that Company shall subsequently determine that the actual Net Proceeds Amount was greater than the amount set forth in such Officers' Certificate, Company shall promptly make an additional prepayment of the Loans (and, if applicable, the Acquisition Loan Commitments and the Revolving Loan Commitments shall be permanently reduced) in an amount equal to the amount of such excess, and Company shall concurrently therewith deliver to Administrative Agent an Officers' Certificate demonstrating the derivation of the additional Net Proceeds Amount resulting in such excess. Any such mandatory prepayments shall be applied as specified in subsection 2.4B(iv).
Prepayments and Reductions. Due to an Event of Loss. Following an Event of Loss with respect to an Aircraft or a Spare Engine, the Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6(D)), the outstanding principal amount of Loans relating to the Aircraft or Spare Engine Pool that were the subject of the Event of Loss; provided, that the Borrower shall not be required to make a prepayment pursuant to this subsection 2.4C(ii)(c) in the event that the Borrower receives Insurance Proceeds or Condemnation Proceeds in connection with such Event of Loss so long as at the time of reinvestment there exists no Potential Event of Default or Event of Default, in which case such proceeds may, within 270 days of receipt of any such Proceeds, be reinvested in aircraft or spare engines substantially similar to the Aircraft or Spare Engines that were the subject of the Event of Loss so long as such replacement aircraft or spare engines are duly leased to Atlas pursuant to the applicable Lease or Leases and the Administrative Agent receives all documents and opinions in connection therewith that it may reasonably request, including, without limitation, an opinion from counsel of the Borrower to the extent that the Borrower as lessor and the Administrative Agent as the assignee under the Lease are entitled to the benefits of Section 1110 of the Bankruptcy Code with respect to such property. To the extent that Insurance Proceeds or Condemnation Proceeds received upon the occurrence of an Event of Loss with respect to an Aircraft or Spare Engine are not reinvested in accordance with the preceding sentence, then the Borrower shall prepay, without premium or penalty (other than pursuant to subsection 2.6D), those Loans relating to the Aircraft or Spare Engine Pool in respect of which such Insurance Proceeds or Condemnation Proceeds were received based on the outstanding principal amount of each Loan as compared to the total outstanding principal amount of all Loans relating to such Aircraft or Spare Engine Pool. Any amount of the Proceeds remaining (a) after prepayment of the Loans described in the immediately preceding sentence and/or (b) after being reinvested in the manner described in the second preceding sentence, shall be applied ratably to the prepayment of Loans relating to all of the remaining Aircraft and Spare Engine Pools based on the outstanding principal amount of each such Loan as compared to the total outstanding principal amount of all Loans relating to...
Prepayments and Reductions. (1) Subject to giving notice required by Section 6.3, the Borrowers may from time to time repay Advances outstanding under the applicable Credit without premium or penalty, except that (a) Banker’s Acceptances and BA Equivalent Loans may not be paid prior to their respective maturity dates, and (b) LIBOR Advances may not be paid prior to the end of the applicable LIBOR Period unless the applicable Borrower indemnifies the Lenders for any loss or expense that the Lenders incur as a result, including any breakage costs.
Prepayments and Reductions from Net Insurance/Condemnation ---------------------------------------------------------- Proceeds. No later than the first Business Day following the date of -------- receipt by Administrative Agent or by Company or any of its Subsidiaries of any Net Insurance/Condemnation Proceeds, Company shall prepay the Loans and/or the Revolving Loan Commitments shall be permanently reduced in an aggregate amount equal to the amount of such Net Insurance/Condemnation Proceeds; provided, however, that no such prepayment shall be required to the extent (i) under the terms of any lease or other agreement existing on the date hereof such Net Insurance/Condemnation Proceeds are required to be used to replace, rebuild or repair the asset so damaged, destroyed or taken or (ii) Company determines to utilize such Net Insurance/Condemnation Proceeds to replace, rebuild or repair the asset damaged, destroyed or taken, and in each case referred to in clauses (i) and (ii) above, Company so utilizes such Net Insurance/Condemnation Proceeds within 18 months of the receipt thereof.
