Common use of Call Date Clause in Contracts

Call Date. Notwithstanding anything to the contrary contained in this Agreement, (i) the Outstanding Principal Amount under all Notes shall become automatically due and payable on the fifth (5th) anniversary of the expiration of the Stub Interest Period if on or prior to such date the Borrower has not paid to the Administrative Agent in accordance with the Fee Letter for the benefit of the Lenders an extension fee equal to five (5) basis points (0.05%) times the Outstanding Principal Amount under all Notes as of the fifth (5th) anniversary of the expiration of the Stub Interest Period or if on such date an Event of Default exists and (ii) the Outstanding Principal Amount under all Notes shall become automatically become due and payable on the sixth (6th) anniversary of the expiration of the Stub Interest Period if on such date the Borrower has not paid to the Administrative Agent in accordance with the Fee Letter for the benefit of the Lenders an extension fee equal to five (5) basis points (0.05%) times the Outstanding Principal Amount under all Notes as of the sixth (6th) anniversary of the expiration of the Stub Interest Period or if on such date an Event of Default exists.

Appears in 5 contracts

Samples: Loan Agreement (Douglas Emmett Inc), Loan Agreement (Douglas Emmett Inc), Loan Agreement (Douglas Emmett Inc)

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Call Date. Notwithstanding anything to the contrary contained in this Agreement, (i) the Outstanding Principal Amount under all Notes shall become automatically due and payable on the fifth (5th) anniversary of the expiration of the Stub Interest Period if on or prior to such date the Borrower or Co-Borrower has not paid to the Administrative Agent in accordance with the Fee Letter for the benefit of the Lenders an extension fee equal to five (5) basis points (0.05%) times the Outstanding Principal Amount under all Notes as of the fifth (5th) anniversary of the expiration of the Stub Interest Period or if on such date an Event of Default exists and (ii) the Outstanding Principal Amount under all Notes shall become automatically become due and payable on the sixth (6th) anniversary of the expiration of the Stub Interest Period if on such date the Borrower or Co-Borrower has not paid to the Administrative Agent in accordance with the Fee Letter for the benefit of the Lenders an extension fee equal to five (5) basis points (0.05%) times the Outstanding Principal Amount under all Notes as of the sixth (6th) anniversary of the expiration of the Stub Interest Period or if on such date an Event of Default exists.

Appears in 1 contract

Samples: Loan Agreement (Douglas Emmett Inc)

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