{"component": "clause", "props": {"groups": [{"size": 4, "samples": [{"hash": "lv4sxekbJHV", "uri": "/contracts/lv4sxekbJHV#compulsory-prepayment", "label": "Loan Agreement (Euroseas Ltd.)", "score": 21.0, "published": true}, {"hash": "gvTv77ATaF1", "uri": "/contracts/gvTv77ATaF1#compulsory-prepayment", "label": "Loan Agreement (Euroseas Ltd.)", "score": 21.0, "published": true}, {"hash": "1AgORMQ99MY", "uri": "/contracts/1AgORMQ99MY#compulsory-prepayment", "label": "Loan Agreement (Euroseas Ltd.)", "score": 21.0, "published": true}], "snippet": "Unless the Bank agrees to accept substitute security in form and substance satisfactory to the Bank, in line with Clauses 13.5.2 and 13.5.3 hereof, the Borrower shall, within one hundred eighty (180) days of the Vessel becoming a Total Loss or such other later day as may be agreed in writing by the Bank, or upon the Vessel being sold, prepay the Loan together with accrued interest to the date of prepayment and all other sums payable by the Borrower to the Bank pursuant to this Agreement and the other Security Documents (and if the Commitment or any portion thereof has not been drawn yet, it shall be reduced to zero).", "snippet_links": [{"key": "agrees-to", "type": "clause", "offset": [16, 25]}, {"key": "substitute-security", "type": "definition", "offset": [33, 52]}, {"key": "form-and-substance", "type": "clause", "offset": [56, 74]}, {"key": "to-the-bank", "type": "clause", "offset": [88, 99]}, {"key": "the-borrower-shall", "type": "clause", "offset": [148, 166]}, {"key": "the-vessel", "type": "definition", "offset": [208, 218]}, {"key": "total-loss", "type": "definition", "offset": [230, 240]}, {"key": "in-writing", "type": "clause", "offset": [282, 292]}, {"key": "by-the-bank", "type": "clause", "offset": [293, 304]}, {"key": "the-loan", "type": "clause", "offset": [344, 352]}, {"key": "accrued-interest", "type": "clause", "offset": [367, 383]}, {"key": "date-of", "type": "clause", "offset": [391, 398]}, {"key": "sums-payable", "type": "clause", "offset": [424, 436]}, {"key": "by-the-borrower", "type": "clause", "offset": [437, 452]}, {"key": "this-agreement-and-the-other-security-documents", "type": "clause", "offset": [477, 524]}, {"key": "the-commitment", "type": "definition", "offset": [533, 547]}, {"key": "to-zero", "type": "definition", "offset": [615, 622]}], "hash": "62b76157b26f45ed0c06d188d998a293", "id": 1}, {"size": 2, "samples": [{"hash": "ibI1WM4evd4", "uri": "/contracts/ibI1WM4evd4#compulsory-prepayment", "label": "Finance Contract (Xylem Inc.)", "score": 25.8336755647, "published": true}], "snippet": "26 4.04 GENERAL...............................................................................................................................29 ARTICLE 5...........................................................................................................................................29", "snippet_links": [{"key": "article-5", "type": "clause", "offset": [145, 154]}], "hash": "313c44752d17248adca8a4f3fdb7ecc3", "id": 2}, {"size": 1, "samples": [{"hash": "cKTBVrb3iyC", "uri": "/contracts/cKTBVrb3iyC#compulsory-prepayment", "label": "Finance Contract (Flowserve Corp)", "score": 21.0, "published": true}], "snippet": "A. If the total cost of the Project should fall significantly short of the figure stated in the Recitals, THE BANK may in proportion to the shortfall demand prepayment of one or more Tranches of the Loan together with interest accrued thereon by notice to THE BORROWERS and THE BORROWERS shall comply with such notice. For the purposes of this Article 4.03A a fall in the total cost of the Project shall be significant where it results in THE BANK providing 50% or more of the financing for the Project.\nB. If on or before the date (the \u201cRenewal Date\u201d) falling two months prior to the expiry date (the \u201cExpiry Date\u201d) of the obligations of any Guarantor under any Guarantee, the obligations of each such Guarantor under the Guarantee have not been renewed in full in favour of THE BANK with effect from the Expiry Date by notice to THE BANK given according to the provisions of such Guarantee, and it has not been possible on or before the Renewal Date to replace with effect from the Expiry Date each Guarantor not renewing such guarantee obligations by another Guarantor or Guarantors each of which is a Qualifying Guarantor (as defined in Article 7.01) on terms and conditions satisfactory to THE BANK, THE BORROWERS shall prepay such part of the outstanding amount of each Tranche as would otherwise cease to be guaranteed under the relevant Guarantee as of the Expiry Date, together with accrued interest thereon and an amount calculated in accordance with the terms of Article 4.02B and C on the first Business Day to occur on or after the date falling one month after the Renewal Date.\nC. If either of THE BORROWERS inform THE BANK that an event of the nature described in Article 8.02(b)(iii) has or is likely to occur or if THE BANK has reasonable cause to believe any such event has occurred or is about to occur, THE BANK may demand that THE BORROWERS consult with it. Such consultation shall take place within thirty days from the date of such demand. If, after the elapse of thirty days from the date of such demand, THE BANK acting reasonably is of the opinion that such event has, or is likely to have, a material adverse effect on the future servicing of the Loan or on the financial stability of either of THE BORROWERS it may request THE BORROWERS to prepay the Loan, together with accrued interest thereon and an amount calculated in accordance with the terms of Article 4.02B and C. THE BORROWERS shall effect payment of the amount demanded on the date specified by THE BANK, such date being a date falling not less than thirty days from the date of the demand.\nD. If either of THE BORROWERS voluntarily prepay more than euro 10 million or the equivalent thereof of any other loan (herein a \u201cTerm Loan\u201d) with an outstanding term of more than five years, THE BANK may demand prepayment of such proportion of the Loan as the amount repaid of the Term Loan bears to the aggregate outstanding amount of all Term Loans. THE BANK shall address its demand, if any, to THE BORROWERS within four weeks of receipt of notice under Article 8.02(b)(iv). Any sum demanded by THE BANK shall be paid, together with accrued interest, on the date indicated by THE BANK, which date shall not precede the date of prepayment of the Term Loan in question. Prepayment of a Term Loan by means of a new loan having a term at least equal to the unexpired term of the loan prepaid shall not be considered to be a prepayment. For the avoidance of this Article 4.03D shall not apply to any early repayment of Flowserve Corporation\u2019s Senior Subordinated Notes due 15 August 2010 or its Revolving Credit Agreement which expires in June 2006. If THE BANK demands prepayment under this Article 4.03, or upon a demand made pursuant to Article 7.02, it shall be made on the date specified by THE BANK. In case of prepayment, the sums to be prepaid shall be paid together with accrued interest and a compensation, if any, calculated on the amount of the Loan to be prepaid in accordance with Article 4.02B and C. If such payment date specified by THE BANK does not coincide with an interest payment date for the Tranche concerned, THE BORROWERS shall pay to THE BANK such amount as THE BANK shall certify in respect of broken funding arrangements and its administrative costs relating to the prepaid Tranches of the Loan together with interest accrued thereon by notice to THE BORROWERS and THE BORROWERS shall comply with such notice.", "snippet_links": [{"key": "total-cost-of-the-project", "type": "clause", "offset": [10, 35]}, {"key": "the-recitals", "type": "clause", "offset": [92, 104]}, {"key": "the-bank-may", "type": "clause", "offset": [106, 118]}, {"key": "interest-accrued", "type": "definition", "offset": [218, 234]}, {"key": "by-notice", "type": "clause", "offset": [243, 252]}, {"key": "the-borrowers", "type": "definition", "offset": [256, 269]}, {"key": "comply-with", "type": "clause", "offset": [294, 305]}, {"key": "for-the-purposes-of-this-article", "type": "clause", "offset": [319, 351]}, {"key": "financing-for-the-project", "type": "clause", "offset": [477, 502]}, {"key": "renewal-date", "type": "clause", "offset": [538, 550]}, {"key": "prior-to-the", "type": "clause", "offset": [572, 584]}, {"key": "expiry-date", "type": "definition", "offset": [585, 596]}, {"key": "the-obligations", "type": "clause", "offset": [620, 635]}, {"key": "obligations-of-each", "type": "clause", "offset": [678, 697]}, {"key": "the-guarantee", "type": "clause", "offset": [719, 732]}, {"key": "in-favour-of", "type": "definition", "offset": [763, 775]}, {"key": "notice-to-the-bank", "type": "clause", "offset": [821, 839]}, {"key": "according-to", "type": "definition", "offset": [846, 858]}, {"key": "the-provisions-of", "type": "clause", "offset": [859, 876]}, {"key": "replace-with", "type": "clause", "offset": [955, 967]}, {"key": "guarantee-obligations", "type": "definition", "offset": [1029, 1050]}, {"key": "guarantor-or-guarantors", "type": "clause", "offset": [1062, 1085]}, {"key": "qualifying-guarantor", "type": "definition", "offset": [1105, 1125]}, {"key": "terms-and-conditions", "type": "definition", "offset": [1158, 1178]}, {"key": "each-tranche", "type": "definition", "offset": [1271, 1283]}, {"key": "be-guaranteed", "type": "clause", "offset": [1312, 1325]}, {"key": "relevant-guarantee", "type": "definition", "offset": [1336, 1354]}, {"key": "accrued-interest", "type": "clause", "offset": [1392, 1408]}, {"key": "in-accordance-with", "type": "definition", "offset": [1442, 1460]}, {"key": "terms-of", "type": "definition", "offset": [1465, 1473]}, {"key": "business-day", "type": "clause", "offset": [1507, 1519]}, {"key": "one-month", "type": "definition", "offset": [1558, 1567]}, {"key": "event-of", "type": "definition", "offset": [1646, 1654]}, {"key": "the-nature", "type": "clause", "offset": [1655, 1665]}, {"key": "is-likely", "type": "definition", "offset": [1707, 1716]}, {"key": "reasonable-cause-to-believe", "type": "definition", "offset": [1745, 1772]}, {"key": "thirty-days", "type": "clause", "offset": [1921, 1932]}, {"key": "date-of", "type": "clause", "offset": [1942, 1949]}, {"key": "acting-reasonably", "type": "clause", "offset": [2038, 2055]}, {"key": "likely-to-have", "type": "clause", "offset": [2101, 2115]}, {"key": "the-future", "type": "clause", "offset": [2146, 2156]}, {"key": "servicing-of-the-loan", "type": "clause", "offset": [2157, 2178]}, {"key": "financial-stability", "type": "clause", "offset": [2189, 2208]}, {"key": "by-the-bank", "type": "clause", "offset": [2482, 2493]}, {"key": "other-loan", "type": "definition", "offset": [2689, 2699]}, {"key": "five-years", "type": "definition", "offset": [2761, 2771]}, {"key": "aggregate-outstanding-amount", "type": "definition", "offset": [2886, 2914]}, {"key": "all-term-loans", "type": "clause", "offset": [2918, 2932]}, {"key": "the-bank-shall", "type": "clause", "offset": [2934, 2948]}, {"key": "four-weeks", "type": "clause", "offset": [3001, 3011]}, {"key": "receipt-of-notice", "type": "definition", "offset": [3015, 3032]}, {"key": "under-article", "type": "definition", "offset": [3033, 3046]}, {"key": "prepayment-of-the-term-loan", "type": "clause", "offset": [3212, 3239]}, {"key": "a-term-loan", "type": "definition", "offset": [3267, 3278]}, {"key": "new-loan", "type": "clause", "offset": [3293, 3301]}, {"key": "having-a", "type": "definition", "offset": [3302, 3310]}, {"key": "at-least-equal-to", "type": "definition", "offset": [3316, 3333]}, {"key": "term-of-the-loan", "type": "definition", "offset": [3348, 3364]}, {"key": "early-repayment", "type": "clause", "offset": [3480, 3495]}, {"key": "senior-subordinated-notes", "type": "definition", "offset": [3523, 3548]}, {"key": "revolving-credit-agreement", "type": "definition", "offset": [3575, 3601]}, {"key": "june-2006", "type": "clause", "offset": [3619, 3628]}, {"key": "pursuant-to-article", "type": "clause", "offset": [3708, 3727]}, {"key": "in-case-of", "type": "clause", "offset": [3786, 3796]}, {"key": "amount-of-the-loan", "type": "definition", "offset": [3923, 3941]}, {"key": "interest-payment-date", "type": "clause", "offset": [4065, 4086]}, {"key": "pay-to", "type": "definition", "offset": [4134, 4140]}, {"key": "in-respect-of", "type": "clause", "offset": [4188, 4201]}, {"key": "funding-arrangements", "type": "definition", "offset": [4209, 4229]}, {"key": "administrative-costs", "type": "clause", "offset": [4238, 4258]}, {"key": "relating-to", "type": "definition", "offset": [4259, 4270]}], "hash": "eb8f91c39721f7f13689d55e55e4d3af", "id": 3}, {"size": 1, "samples": [{"hash": "iuoEEYFt6P2", "uri": "/contracts/iuoEEYFt6P2#compulsory-prepayment", "label": "Loan Agreement (TBS International LTD)", "score": 19.0, "published": true}], "snippet": "The Borrower shall be obliged to prepay the entire Loan if the Ship is (i) sold or (ii) a Total Loss.i", "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}], "hash": "692f6dab92bf2e02f16d7f3726f46226", "id": 4}, {"size": 1, "samples": [{"hash": "2WMeNNUOIfm", "uri": "/contracts/2WMeNNUOIfm#compulsory-prepayment", "label": "Finance Contract", "score": 30.340862423, "published": true}], "snippet": "26 4.03A Grounds for prepayment..........................................................................................................26 4.03A(1) PROJECT COST REDUCTION......................................................................................26 4.03A(2) PARI PASSU TO NON-EIB FINANCING......................................................................27 4.03A(3) CHANGE OF CONTROL..............................................................................................27 4.03A(4) CHANGE OF LAW.........................................................................................................28 4.03A(5) ILLEGALITY..................................................................................................................28 4.", "snippet_links": [{"key": "project-cost-reduction", "type": "clause", "offset": [149, 171]}, {"key": "pari-passu-to-non", "type": "clause", "offset": [269, 286]}, {"key": "change-of-control", "type": "definition", "offset": [382, 399]}, {"key": "change-of-law", "type": "clause", "offset": [505, 518]}], "hash": "b1a33a0f78c5f7d936d12cd90250947b", "id": 5}, {"size": 1, "samples": [{"hash": "20qnm4EK72l", "uri": "/contracts/20qnm4EK72l#compulsory-prepayment", "label": "Loan Agreement (FreeSeas Inc.)", "score": 21.0, "published": true}], "snippet": "The Borrower shall,\n(a) in case the Vessel becomes a Total Loss, within one hundred fifty days (150) therefrom, or\n(b) in case\n(i) the Vessel is sold, or\n(ii) it becomes illegal for the Bank to lend or maintain the Commitment, on demand prepay the Loan together with accrued interest to the date of prepayment and all other sums payable by the Borrower to the Bank pursuant to this Agreement and the other Security Documents (and if the Commitment has not been drawn yet, it shall be reduced to zero), unless the Bank agrees (in case of 9.3.(a) and/or 9.3.(b) (i)) to accept substitute security in form and substance satisfactory to the Bank, in line with Clauses 13.5.2 and 13.5.3 hereof,", "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-vessel", "type": "definition", "offset": [32, 42]}, {"key": "total-loss", "type": "definition", "offset": [53, 63]}, {"key": "for-the-bank", "type": "clause", "offset": [178, 190]}, {"key": "the-commitment", "type": "definition", "offset": [211, 225]}, {"key": "on-demand", "type": "clause", "offset": [227, 236]}, {"key": "the-loan", "type": "clause", "offset": [244, 252]}, {"key": "accrued-interest", "type": "clause", "offset": [267, 283]}, {"key": "date-of", "type": "clause", "offset": [291, 298]}, {"key": "sums-payable", "type": "clause", "offset": [324, 336]}, {"key": "by-the-borrower", "type": "clause", "offset": [337, 352]}, {"key": "to-the-bank", "type": "clause", "offset": [353, 364]}, {"key": "this-agreement-and-the-other-security-documents", "type": "clause", "offset": [377, 424]}, {"key": "to-zero", "type": "definition", "offset": [492, 499]}, {"key": "in-case-of", "type": "clause", "offset": [526, 536]}, {"key": "substitute-security", "type": "definition", "offset": [575, 594]}, {"key": "form-and-substance", "type": "clause", "offset": [598, 616]}], "hash": "6c68be2f86ccd39b1d2e00670de15dbd", "id": 6}, {"size": 1, "samples": [{"hash": "hE6J1okuv9W", "uri": "/contracts/hE6J1okuv9W#compulsory-prepayment", "label": "Finance Contract (National Grid Group PLC)", "score": 18.0, "published": true}], "snippet": "A. If the total cost of THE PROJECT should fall significantly short of the figure stated in the Recitals, THE BORROWER shall upon demand of THE BANK prepay the required amount of the Loan, together with interest and related sums accrued thereon, on the date indicated by THE BANK. For this purpose, the required amount of the Loan shall be the minimum amount such as to ensure that the outstanding principal amount of the Loan shall not exceed 50% of the total cost of THE PROJECT.\nB. If, without the prior written contact of THE BANK, the BORROWER ceases to be a Subsidiary which is wholly-owned by the Guarantor, THE BANK may require that THE BORROWER consult with it. Such consultation shall take place within 30 days from the date of THE BANK's request. If after 30 days from the date of such a request THE BANK is of the opinion that such event has, or is likely to have, a material adverse effect on the future servicing of the Loan or on the solvency of THE BORROWER then THE BANK may require THE BORROWER to prepay the Loan, together with accrued interest and a premium calculated on the amount to be prepaid in accordance with Article 4.", "snippet_links": [{"key": "total-cost-of-the-project", "type": "clause", "offset": [10, 35]}, {"key": "the-recitals", "type": "clause", "offset": [92, 104]}, {"key": "the-borrower-shall", "type": "clause", "offset": [106, 124]}, {"key": "upon-demand", "type": "clause", "offset": [125, 136]}, {"key": "required-amount", "type": "clause", "offset": [160, 175]}, {"key": "with-interest", "type": "definition", "offset": [198, 211]}, {"key": "by-the-bank", "type": "clause", "offset": [268, 279]}, {"key": "loan-shall", "type": "definition", "offset": [326, 336]}, {"key": "minimum-amount", "type": "definition", "offset": [344, 358]}, {"key": "to-ensure", "type": "clause", "offset": [367, 376]}, {"key": "principal-amount-of-the-loan", "type": "definition", "offset": [398, 426]}, {"key": "by-the-guarantor", "type": "clause", "offset": [597, 613]}, {"key": "the-bank-may", "type": "clause", "offset": [615, 627]}, {"key": "date-of", "type": "clause", "offset": [730, 737]}, {"key": "likely-to-have", "type": "clause", "offset": [861, 875]}, {"key": "the-future", "type": "clause", "offset": [906, 916]}, {"key": "servicing-of-the-loan", "type": "clause", "offset": [917, 938]}, {"key": "solvency-of-the-borrower", "type": "clause", "offset": [949, 973]}, {"key": "require-the", "type": "clause", "offset": [992, 1003]}, {"key": "accrued-interest", "type": "clause", "offset": [1047, 1063]}, {"key": "in-accordance-with", "type": "definition", "offset": [1117, 1135]}, {"key": "article-4", "type": "definition", "offset": [1136, 1145]}], "hash": "540c5eb31bcd5b7fb3857ae44520b382", "id": 7}, {"size": 1, "samples": [{"hash": "fB9VJ1IzRbJ", "uri": "/contracts/fB9VJ1IzRbJ#compulsory-prepayment", "label": "Facility Agreement (BEST Inc.)", "score": 33.2929500342, "published": true}], "snippet": "If (i) the Sale of BEST Express closes prior to the Final Maturity Date of any Loan made hereunder; (ii) in addition to BEST Freight Reorganization, the Group also sells, transfers, assigns or otherwise disposes of any assets owned by it of which the total market value reaches or exceeds 5% of the value of net assets of the Group on December 31, 2020 (as stated in the audited financial statements); or (iii) any Change of Control occurs:\n(a) the Borrower shall immediately notify the Lender of such circumstance; and \u200b\n(b) the Lender shall have the right to send a notice (\u201cNotice of Compulsory Prepayment\u201d) to the Borrower, requiring the Borrower to pay off all outstanding amounts payable under the Finance Documents within ten (10) Business Days following the giving of the Notice of Compulsory Prepayment or such longer period as may be decided by the Lender. Provided, however, that in the case of the event described in (ii) above, if (x) the director(s) appointed by Alibaba Investment Limited (\u963f\u91cc\u5df4\u5df4\u6295\u8d44\u516c\u53f8) and its Affiliates for the board of directors of the Group approve(s) such event, or (y) the Lender gives a written consent to such event, then no compulsory prepayment under this clause 10.2 will be triggered by the occurrence of such event.", "snippet_links": [{"key": "sale-of", "type": "clause", "offset": [11, 18]}, {"key": "date-of", "type": "clause", "offset": [67, 74]}, {"key": "any-loan", "type": "clause", "offset": [75, 83]}, {"key": "in-addition-to", "type": "clause", "offset": [105, 119]}, {"key": "the-group", "type": "clause", "offset": [149, 158]}, {"key": "disposes-of", "type": "definition", "offset": [203, 214]}, {"key": "owned-by", "type": "definition", "offset": [226, 234]}, {"key": "total-market-value", "type": "definition", "offset": [251, 269]}, {"key": "the-value", "type": "clause", "offset": [295, 304]}, {"key": "net-assets", "type": "clause", "offset": [308, 318]}, {"key": "on-december", "type": "clause", "offset": [332, 343]}, {"key": "the-audited-financial-statements", "type": "definition", "offset": [367, 399]}, {"key": "any-change-of-control-occurs", "type": "clause", "offset": [411, 439]}, {"key": "the-borrower-shall", "type": "clause", "offset": [445, 463]}, {"key": "notify-the", "type": "clause", "offset": [476, 486]}, {"key": "right-to", "type": "definition", "offset": [552, 560]}, {"key": "a-notice", "type": "definition", "offset": [566, 574]}, {"key": "notice-of", "type": "clause", "offset": [577, 586]}, {"key": "to-the-borrower", "type": "clause", "offset": [611, 626]}, {"key": "pay-off", "type": "clause", "offset": [654, 661]}, {"key": "amounts-payable", "type": "definition", "offset": [678, 693]}, {"key": "the-finance-documents", "type": "clause", "offset": [700, 721]}, {"key": "business-days", "type": "clause", "offset": [738, 751]}, {"key": "following-the", "type": "definition", "offset": [752, 765]}, {"key": "the-notice", "type": "clause", "offset": [776, 786]}, {"key": "by-the-lender", "type": "clause", "offset": [852, 865]}, {"key": "in-the-case", "type": "clause", "offset": [891, 902]}, {"key": "the-event", "type": "clause", "offset": [906, 915]}, {"key": "alibaba-investment", "type": "definition", "offset": [977, 995]}, {"key": "the-board-of-directors", "type": "clause", "offset": [1038, 1060]}, {"key": "consent-to", "type": "clause", "offset": [1131, 1141]}, {"key": "this-clause", "type": "clause", "offset": [1190, 1201]}], "hash": "e89da06a78378c07cf252fe129c3c7e7", "id": 8}, {"size": 1, "samples": [{"hash": "kfqa6LrE1Nc", "uri": "/contracts/kfqa6LrE1Nc#compulsory-prepayment", "label": "Loan Agreement (Commodore Holdings LTD)", "score": 18.0, "published": true}], "snippet": "6.1 If for any reason whatsoever beyond the control of any one or more of the Lenders it shall become unlawful or impossible for such one or more of the Lenders to maintain or give effect to all or part of its or their obligations as contemplated by this agreement and evidence substantiating that unlawfulness or impossibility has been produced by such one or more of the Lenders to the Agent then:-\n(A) the obligation of such one or more of the Lenders to advance funds under clause 2.2 hereof and to participate in the Loan or the relevant part thereof shall cease;\n(B) the Borrower shall forthwith upon the demand of the Agent repay to the Agent for the benefit of such one or more of the Lenders the amount of its or their Contribution(s) to the Loan or the relevant part thereof together with interest accrued thereon and any sums due to such one or more of the Lenders by virtue of that repayment under clause 8.5 hereof; and\n(C) the Maximum Sum shall be reduced by the amount of the Contribution(s) of such one or more of the Lenders to the Loan.\n6.2 If the Agent shall:-\n(A) determine in good faith that by reason of circumstances affecting the London Inter-Bank Market generally adequate and reasonable means do not exist for ascertaining the rate of interest payable on the Loan or any relevant part thereof for any Interest Period in accordance with clause 4.2 hereof; or\n(B) receive notice from any one or more of the Lenders that it would not be practicable or possible for such one or more of the Lenders to fund or continue to fund its or their Contribution(s) to the Loan or any relevant part thereof in the London Inter-Bank Market, then the Agent shall inform the Borrower in writing to that effect and unless the Lenders and the Borrower shall agree acceptable alterations to the terms of this agreement (on the basis of an alternative source of funds available to the relevant Lenders) then:-\n(i) the obligation of the relevant Lenders to advance funds under clause 2.2 hereof and to participate in the Loan or the relevant part thereof shall cease;\n(ii) the Agent shall give notice to the Borrower terminating the participation of the relevant Lenders in the Loan or the relevant part thereof whereafter the amount of its or their Contribution(s) to the Loan or the relevant part thereof together with interest accrued thereon shall become repayable by the Borrower within thirty (30) days thereafter; and\n(iii) the Maximum Sum shall be reduced by the amount of the Contribution(s) of the relevant Lenders to the Loan.", "snippet_links": [{"key": "for-any-reason", "type": "clause", "offset": [7, 21]}, {"key": "control-of", "type": "definition", "offset": [44, 54]}, {"key": "the-lenders", "type": "clause", "offset": [74, 85]}, {"key": "to-maintain", "type": "clause", "offset": [161, 172]}, {"key": "give-effect-to", "type": "definition", "offset": [176, 190]}, {"key": "contemplated-by-this-agreement", "type": "clause", "offset": [234, 264]}, {"key": "the-obligation", "type": "clause", "offset": [405, 419]}, {"key": "advance-funds", "type": "definition", "offset": [458, 471]}, {"key": "under-clause", "type": "clause", "offset": [472, 484]}, {"key": "participate-in", "type": "definition", "offset": [503, 517]}, {"key": "the-loan", "type": "clause", "offset": [518, 526]}, {"key": "relevant-part", "type": "definition", "offset": [534, 547]}, {"key": "the-borrower-shall", "type": "clause", "offset": [573, 591]}, {"key": "for-the-benefit-of", "type": "definition", "offset": [650, 668]}, {"key": "interest-accrued", "type": "definition", "offset": [799, 815]}, {"key": "sums-due", "type": "clause", "offset": [832, 840]}, {"key": "maximum-sum", "type": "definition", "offset": [941, 952]}, {"key": "the-agent-shall", "type": "clause", "offset": [1062, 1077]}, {"key": "in-good-faith", "type": "definition", "offset": [1094, 1107]}, {"key": "interest-payable", "type": "definition", "offset": [1261, 1277]}, {"key": "interest-period", "type": "definition", "offset": [1327, 1342]}, {"key": "in-accordance-with", "type": "definition", "offset": [1343, 1361]}, {"key": "to-fund", "type": "definition", "offset": [1520, 1527]}, {"key": "in-writing", "type": "clause", "offset": [1692, 1702]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [1800, 1823]}, {"key": "basis-of", "type": "clause", "offset": [1832, 1840]}, {"key": "available-to", "type": "definition", "offset": [1872, 1884]}, {"key": "relevant-lenders", "type": "definition", "offset": [1889, 1905]}, {"key": "obligation-of-the", "type": "clause", "offset": [1922, 1939]}, {"key": "notice-to-the-borrower", "type": "clause", "offset": [2097, 2119]}, {"key": "the-participation", "type": "clause", "offset": [2132, 2149]}, {"key": "by-the-borrower", "type": "clause", "offset": [2372, 2387]}, {"key": "within-thirty", "type": "clause", "offset": [2388, 2401]}], "hash": "56590b73e53126f176b38c936666e459", "id": 9}, {"size": 1, "samples": [{"hash": "jPuAAUlX4en", "uri": "/contracts/jPuAAUlX4en#compulsory-prepayment", "label": "Syndicated Loan Agreement (Galaxy Dream Corp)", "score": 22.2648870637, "published": true}], "snippet": "If it has become clear that the Offer Closing Date would not come due to the withdrawn of the Tender Offer or other reasons or if the Merger Agreement is terminated prior to the Merger Closing Date, this Agreement shall immediately be terminated with respect to both Tranche A and Tranche B in relation to all the Lenders. All the Borrowers shall prepay the whole amount of the Outstanding TRANSLATION OF THE ORIGINAL AGREEMENT IN JAPANESE Individual Loan Moneys in accordance with the provisions set out in this Chapter 9 by the Interest Payment Date coming after five (5) Relevant Business Days have passed since the date such event occurred.", "snippet_links": [{"key": "offer-closing-date", "type": "definition", "offset": [32, 50]}, {"key": "the-tender-offer", "type": "clause", "offset": [90, 106]}, {"key": "other-reasons", "type": "definition", "offset": [110, 123]}, {"key": "the-merger-agreement", "type": "clause", "offset": [130, 150]}, {"key": "merger-closing-date", "type": "definition", "offset": [178, 197]}, {"key": "this-agreement", "type": "clause", "offset": [199, 213]}, {"key": "with-respect-to", "type": "clause", "offset": [246, 261]}, {"key": "tranche-a", "type": "definition", "offset": [267, 276]}, {"key": "tranche-b", "type": "definition", "offset": [281, 290]}, {"key": "in-relation-to", "type": "clause", "offset": [291, 305]}, {"key": "the-lenders", "type": "clause", "offset": [310, 321]}, {"key": "the-borrowers", "type": "definition", "offset": [327, 340]}, {"key": "the-original-agreement", "type": "clause", "offset": [405, 427]}, {"key": "individual-loan", "type": "definition", "offset": [440, 455]}, {"key": "in-accordance-with", "type": "definition", "offset": [463, 481]}, {"key": "the-provisions", "type": "clause", "offset": [482, 496]}, {"key": "set-out", "type": "definition", "offset": [497, 504]}, {"key": "chapter-9", "type": "definition", "offset": [513, 522]}, {"key": "interest-payment-date", "type": "clause", "offset": [530, 551]}, {"key": "business-days", "type": "clause", "offset": [583, 596]}], "hash": "c5f393c42027a1080d7bb394c91df910", "id": 10}], "next_curs": "Cl4SWGoVc35sYXdpbnNpZGVyY29udHJhY3RzcjoLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih5jb21wdWxzb3J5LXByZXBheW1lbnQjMDAwMDAwMGEMogECZW4YACAA", "clause": {"children": [["pari-passu-to-non-eib-financing", "Pari Passu to Non-EIB Financing"], ["illegality", "Illegality"], ["disposals", "Disposals"], ["prepayment-mechanics", "Prepayment mechanics"], ["change-events", "Change Events"]], "size": 22, "parents": [["repayment", "Repayment"], ["repayment-and-prepayment", "REPAYMENT AND PREPAYMENT"], ["terms-and-definitions", "Terms and Definitions"], ["expiration-of-commitment-period", "Expiration of Commitment Period"], ["united-states-laws", "United States Laws"]], "title": "Compulsory Prepayment", "id": "compulsory-prepayment", "related": [["mandatory-prepayment", "Mandatory Prepayment", "Mandatory Prepayment"], ["mandatory-prepayments", "Mandatory Prepayments", "Mandatory Prepayments"], ["voluntary-prepayment", "Voluntary Prepayment", "Voluntary Prepayment"], ["discounted-voluntary-prepayments", "Discounted Voluntary Prepayments", "Discounted Voluntary Prepayments"], ["mandatory-prepayment-of-loans", "Mandatory Prepayment of Loans", "Mandatory Prepayment of Loans"]], "related_snippets": [], "updated": "2025-07-07T12:37:53+00:00", "also_ask": ["What triggers should be included or excluded to strategically control compulsory prepayment obligations?", "How can the clause be drafted to minimize borrower risk while satisfying lender requirements?", "What are the most common pitfalls or fatal flaws in compulsory prepayment provisions?", "How do compulsory prepayment clauses differ across jurisdictions or financing types?", "What factors do courts consider when assessing the enforceability of compulsory prepayment clauses?"], "drafting_tip": "Specify triggering events, detail calculation methods, and set notification requirements to ensure clarity, prevent disputes, and facilitate timely compliance.", "explanation": "A compulsory prepayment clause requires a borrower to repay part or all of a loan before its scheduled maturity upon the occurrence of certain specified events. Typically, these events might include the sale of significant assets, receipt of insurance proceeds, or a change of control in the borrowing entity. The clause ensures that lenders are repaid promptly when the borrower's financial situation changes in a way that could affect their ability to meet future obligations, thereby reducing the lender's risk exposure."}, "json": true, "cursor": ""}}