VOLUNTARY PREPAYMENT OF REVOLVING LOANS Sample Clauses

VOLUNTARY PREPAYMENT OF REVOLVING LOANS. In addition to the transfers and distributions of funds required pursuant to Section 2.6, the Borrower shall have the right to prepay the Revolving Loans, without premium or penalty, in whole or in part at any time and from time to time on the following terms and conditions: (i) the Borrower shall give the Administrative Agent prior to 12:00 Noon (New York City time) (x) at least one Business Day's prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Base Rate Loans and (y) at least three Business Days' prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Eurodollar Rate Loans, the amount of such prepayment and the Types of Loans to be prepaid and, in the case of Eurodollar Rate Loans, the specific Borrowing or Borrowings pursuant to which made, which notice the Administrative Agent shall promptly transmit to each of the Lenders; and (ii) prepayments of Eurodollar Rate Loans made on a day other than the last day of an Interest Period applicable thereto shall be accompanied by any amounts owing pursuant to Section 4.5(b).
Sample 1Sample 2
AutoNDA by SimpleDocs
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. The Borrower to which a Revolving Loan has been made may, if it gives the Agent not less than ten (10) Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Revolving Loan (but if in part, being an amount that reduces the Base Currency Amount of the Revolving Loan by a minimum amount of USD 10,000,000).
Sample 1
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. Upon the effectiveness of the amendments set forth in Articles III and IV preceding, the Borrower shall be deemed to have made, in accordance with Section 2.06 of the Credit Agreement, a voluntary prepayment of Eurodollar Revolving Loans on the First Amendment Effective Date in the aggregate amount of $12,000,000. Such prepayment shall be applied pro rata among the
Sample 1Sample 2
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. A Borrower to which a Revolving Loan has been made may, if it gives to the Agent not less than 10 Business Day's prior written notice, prepay the whole or any part of that Loan (but, if in part, being an amount that reduces the amount of any Revolving Loan by a minimum amount of L200,000).
Sample 1Sample 2
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. Subject to SECTION 4.4, Borrower may prepay the principal of all Revolving Loans in whole or in part without premium or penalty other than pursuant to SECTION 6.5. Any partial prepayment of principal shall be in a minimum amount equal to the lesser of (i) the aggregate outstanding principal balance of all Revolving Loans and (ii) $1,000,000 and an integral multiple of $500,000 in excess thereof.
Sample 1
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. At any time, Borrower may prepay the Revolving Loans in whole or in part, without penalty, but with LIBOR Breakage Fees, if applicable. Such prepayments shall be applied to reduce the outstanding principal balance of the Revolving Loans (but not as a permanent reduction of the Revolving Loan Commitment).
Sample 1
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. Upon the effectiveness of the amendments set forth in Articles III and IV preceding, the Borrower shall be deemed to have made, in accordance with Section 2.06 of the Credit Agreement, a voluntary prepayment of Eurodollar Revolving Loans on the Second Amendment Effective Date in the aggregate amount of $28,000,000. Such prepayment shall be applied pro rata among the Revolving Banks. This satisfies the notice requirements of Section 2.06 of the Credit Agreement. Notwithstanding the foregoing, the Borrower hereby agrees to indemnify the Administrative Agent and each Revolving Bank and hold the Administrative Agent and each Revolving Bank harmless from and against any and all costs, expenses, damages, claims, losses and other amounts which the Administrative Agent and/or any Revolving Bank may suffer or incur as a result of or in connection with the voluntary prepayment of Revolving Loans, including, without limitation, any breakage costs incurred pursuant to Section 4.04 of the Credit Agreement as a result of a prepayment of any Eurodollar Rate Loans.
Sample 1
AutoNDA by SimpleDocs
VOLUNTARY PREPAYMENT OF REVOLVING LOANS. The Borrower shall have the right to voluntarily prepay Revolving Loans in whole or in part from time to time, subject to Section 3.05 but otherwise without premium or penalty; provided, however, that each partial prepayment of Revolving Loans shall be in a minimum principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof. Each payment pursuant to this Section shall be applied as set forth in Section 2.09(c).
Sample 1

Related to VOLUNTARY PREPAYMENT OF REVOLVING LOANS

  • Voluntary prepayment of Loans The Borrower to which a Loan has been made may, if it gives the Agent not less than five (5) Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Loan (but if in part, being an amount that reduces the Loan by a minimum amount of ten million dollars ($10,000,000)).

  • Repayment of Revolving Loans The Revolving Loans and all other Liabilities (other than the Term Loan) shall be repaid on the last day of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof.

  • Voluntary Prepayments of Loans The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Term Loans of any Class in whole or in part without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 1:00 p.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any such prepayment of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (iii) any prepayment of Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (iv) any prepayment of the Term Loans shall be in such proportions as the Borrower shall elect and each such prepayment shall be applied as directed by the Borrower and, absent such direction, shall be applied in direct order of maturity to the remaining principal amortization payments of the applicable Term Loan; and (v) any such notice may be conditioned on the effectiveness of other financing arrangements or one or more other transactions. Each such notice shall specify the date and amount of such prepayment and the Class and Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, subject to the occurrence of any condition(s) specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Class of Loans being prepaid of the applicable Lenders in accordance with their respective Applicable Percentages for such Class.

  • Voluntary prepayment of Loan (a) The Borrowers may, if they give the Facility Agent not less than 15 Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of the Loan (but, if in part, being an amount that reduces the amount of the Loan by a minimum amount of $500,000 or a multiple of that amount).

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

  • Voluntary Prepayments of Borrowings 25 Section 3.08 Payments, etc................................................................................26 Section 3.09 Interest Rate Not Ascertainable, etc.........................................................28 Section 3.10 Illegally....................................................................................28 Section 3.11

  • Reduction of Commitment Prepayment of Loans Section 2.05 of the Financing Agreement is hereby amended as follows:

  • Voluntary Prepayments (a) The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay any Term Loan in whole or in part without premium or penalty (other than as set forth in clause (b) below); provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (2) on the date of prepayment of Base Rate Loans and LIBOR Daily Floating Rate Loans; (B) any such prepayment of Eurodollar Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any such prepayment of LIBOR Daily Floating Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding). Each such notice shall specify the date and amount of such prepayment, the tranche of Terms Loans to be prepaid and the Type(s) of Term Loans to be prepaid. The Administrative Agent will promptly notify each applicable Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurodollar Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.15, each such prepayment shall be applied to the applicable Term Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Mandatory Prepayment of Loans (a) Subject to Section 2.06(c), on the date of receipt by the Borrower or any Restricted Subsidiary (or affiliate thereof) of any Net Cash Proceeds, the Borrower shall prepay the Loans in an aggregate amount equal to such Net Cash Proceeds (together with any amounts due pursuant to Section 2.07 or Section 2.09); provided that the Borrower shall have no obligation to prepay the Loans (i) to the extent that such Net Cash Proceeds are attributable to a Disposition permitted by clauses (a), (c), (e), (f), (g), (h) and (j) of Section 7.04, (ii) to the extent that such Net Cash Proceeds for any Disposition are not in excess of $1,000,000 individually or $10,000,000 in the aggregate for all such Dispositions or (iii) with respect to any Casualty Event or any Disposition permitted pursuant to clause (k) (but only with respect to Dispositions of Core Assets that were acquired by the Borrower or any Restricted Subsidiary following the Availability Date (it being understood that any Net Cash Proceeds received from other Dispositions pursuant to clause (k) shall not be able to be reinvested pursuant to this clause (iii)) and clause (l) of Section 7.04, if, within 365 days after receipt of such Net Cash Proceeds, the Borrower uses such Net Cash Proceeds to purchase, or otherwise reinvests such Net Cash Proceeds in, Oil and Gas Interests useful in the business of the Credit Parties (in each case, as certified by the Borrower in a certificate of a Responsible Officer delivered to the Administrative Agent and the Lead Lender); provided further that, if all or any portion of such Net Cash Proceeds are not so reinvested within the time period specified (or such earlier date, if any, as the applicable Credit Party determines not to reinvest such Net Cash Proceeds as set forth above), such remaining portion shall be applied on the last date of such period (or such earlier date, as the case may be) as provided in this Section 2.06(a) without regard to this proviso.

  • Voluntary Prepayment Subject to the following conditions, the Borrower may prepay the whole or any part of the Loan on the last day of an Interest Period.

Time is Money Join Law Insider Premium to draft better contracts faster.