Conditions for Prepayment Clause Samples
Conditions for Prepayment. The Borrower shall have the right to prepay the 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 11:00 A.M. at the Notice Office (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 (or same day notice in the case of a prepayment of Swingline Loans) and (y) at least three Business Days prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Eurodollar Loans, which notice (in each case) shall specify whether Term Loans, Revolving Loans or Swingline Loans shall be prepaid, the amount of such prepayment and the Types of Loans to be prepaid and, in the case of Eurodollar Loans, the specific Borrowing or Borrowings pursuant to which made, and which notice the Administrative Agent shall, except in the case of Swingline Loans, promptly transmit to each of the Lenders;
(ii) each partial prepayment pursuant to this Section 5.1(a) shall be in an aggregate principal amount of at least $5,000,000 for Eurodollar Loans, $500,000 for Base Rate Loans other than Swingline Loans, and $100,000 for Swingline Loans, provided that if any partial prepayment of Eurodollar Loans made pursuant to any Borrowing shall reduce the outstanding principal amount of Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount applicable thereto, then such Borrowing may not be continued as a Borrowing of Eurodollar Loans and any election of an Interest Period with respect thereto given by the Borrower shall have no force or effect;
(iii) each prepayment pursuant to this Section 5.1(a) in respect of any Loans made pursuant to a Borrowing shall be applied pro rata among such Loans, provided that at the Borrower's election in connection with any prepayment of Revolving Loans pursuant to this Section 5.1(a), such prepayment shall not, so long as no Default or Event of Default then exists, be applied to any Revolving Loan of a Defaulting Lender; and
(iv) each prepayment of any Tranche of Term Loans pursuant to this Section 5.1(a) shall be applied to reduce the then remaining Term Loan infoUSA Credit Agreement Scheduled Repayments of such Tranche of Term Loans in the inverse order of maturity.
Conditions for Prepayment. On the Lockout Release Date, or at any time thereafter, provided no Event of Default exists, the principal balance of the Loan may be prepaid, in whole but not in part (except with respect to the application of casualty or condemnation proceeds), on any Payment Date upon not less than thirty (30) days nor more than ninety (90) days prior written notice to Lender specifying the Payment Date on which prepayment is to be made (the “Prepayment Date”), provided that such prepayment is accompanied by payment of (i) any costs and expenses of Lender required to be reimbursed under the terms of the Loan Documents, (ii) interest accrued and unpaid on the principal balance of the Loan to and including the Prepayment Date, and (iii) all other sums then due under this Agreement and the other Loan Documents. If any such notice of prepayment is given, the principal balance of the Loan that is the subject of such notice of prepayment and the other sums required under this paragraph shall be due and payable on the Prepayment Date.