Additional Prepayment Provisions Clause Samples
The "Additional Prepayment Provisions" clause outlines the terms under which a borrower may make extra payments toward a loan beyond the required scheduled payments. Typically, this clause specifies whether such prepayments are allowed, if there are any penalties or fees for doing so, and how these payments are applied to the outstanding balance or interest. For example, it may allow the borrower to pay off the loan early without penalty or require notice before making a large prepayment. The core function of this clause is to provide clarity and structure around the process of prepaying a loan, helping both parties understand their rights and obligations regarding early repayment and any associated costs.
Additional Prepayment Provisions. Each prepayment pursuant to this Section 2.06 shall be subject to Sections 2.05(c) and 2.11 and applied to the Advances in accordance with the Lenders’ respective Percentages.
Additional Prepayment Provisions. Each prepayment pursuant to this Section 2.05 shall be subject to Sections 2.04(c) and 2.10 and applied to the Syndicated Advances in accordance with the Lenders’ respective Percentages (unless a Notice of Prepayment is submitted in tandem with a Notice of Borrowing for a Swingline Borrowing, in which case the prepayment shall be applied first to the Swingline Advance).
Additional Prepayment Provisions. Each prepayment pursuant to this Section 2.05 shall be subject to Section 2.04(d) and applied to the Advances in accordance with the Lenders’ respective Percentages (subject to Section 2.16(a)(ii)); provided that the Borrower may prepay any Defaulting Lender in connection with the reduction or termination of the Commitments of such Defaulting Lender without prepaying any non-Defaulting Lenders.
Additional Prepayment Provisions. Each prepayment pursuant to this Section 2.05 shall be subject to Sections 2.04(c), 2.10 and 2.13.
Additional Prepayment Provisions. Each prepayment of principal pursuant to this Section 2.07 shall be subject to Sections 2.06(c) and 2.12 and the Priority of Payments, and shall be applied to the Advances as directed by the Borrowers.
Additional Prepayment Provisions. Each prepayment pursuant to this Section 2.04 shall be subject to Section 2.03(c) and applied to the Aggregate Loan Amount in accordance with the Lenders’ pro rata share of the Aggregate Loan Amount. The Borrower hereby agrees to reimburse the Administrative Agent or any Lender, as applicable, in such amount or amounts as shall compensate the Administrative Agent or any such Lender, as applicable, for any actual loss, cost or expense incurred by the Administrative Agent or any such Lender, as applicable (as reasonably determined by the Administrative Agent or any such Lender, as applicable) as a result of any prepayment pursuant to this Section 2.04 that is not made on a Payment Date.
Additional Prepayment Provisions. (i) The Borrower may effect a prepayment of all or any portion of the AdvancesLoans then outstanding pursuant to Section 2.5(a) or (b).
(ii) Amounts prepaid or repaid in respect of the Term AdvancesLoans may not be reborrowed; provided that, Société Générale, in its capacity as a Term Lender, shall permit the Borrower to effect a partial prepayment of the Term AdvancesLoans then outstanding with respect to Société Générale on a non-pro rata basis and subsequently reborrow the Term AdvancesLoans with respect to Société Générale, if the Borrower provides a Notice of Borrowing to Société Générale to reborrow such Term AdvancesLoans within six (6) months of such partial prepayment.
Additional Prepayment Provisions. (i) The Borrower may effect a prepayment of all or any portion of the Loans then outstanding pursuant to Section 2.5(a) or (b).
(ii) Amounts prepaid or repaid in respect of the Term Loans may not be reborrowed.
Additional Prepayment Provisions. Each prepayment (other than any prepayment of Swingline Advances) pursuant to this Section 2.06 shall be subject to Sections 2.05(c) and 2.11 and applied to the Advances (other than Swingline Advances) in accordance with the Lenders’ respective Percentages. Prepayments of Swingline Advances shall be made to the Swingline Lender only.
Additional Prepayment Provisions. Each prepayment pursuant to this Section 2.05 shall be subject to Sections 2.04(c) and 2.10 and applied to the Advances in accordance with the Lenders’ respective Percentages. sustained by such Affected Person in connection with the re-employment of such funds but excluding loss of anticipated profits), which such Affected Person may sustain: (i) if for any reason (including any failure of a condition precedent set forth in Article III but excluding a default by the applicable Lender) a Borrowing of any Advance bearing interest that was computed by reference to the LIBOR Rate by the Borrower does not occur on the Borrowing Date specified therefor in the applicable Notice of Borrowing delivered by the Borrower, (ii) if any payment, prepayment or conversion of any of the Borrower’s Advances bearing interest that was computed by reference to the LIBOR Rate occurs on a date that is not the last day of the relevant Interest Accrual Period, and (iii) if any payment or prepayment of any Advance bearing interest that was computed by reference to the LIBOR Rate is not made on a Payment Date or pursuant to a Notice of Prepayment given by the Borrower. A certificate as to any amounts payable pursuant to this Section 2.10 submitted to the Borrower by any Lender (with a copy to the Agents, and accompanied by a reasonably detailed calculation of such amounts and a description of the basis for requesting such amounts) shall be conclusive in the absence of manifest error.