Extraordinary Optional Prepayment Sample Clauses

Extraordinary Optional Prepayment. The Borrower shall have the right at the times and upon the prior notice provided in Section 3.03 of the Indenture to prepay all or any part of the Loan Repayments as provided herein, and the Authority agrees that the Trustee shall accept such prepayments when the same are made as provided herein. All such prepayments shall be deposited upon receipt in the Bond Fund established under the Indenture. The Borrower also shall have the right to surrender Bonds acquired by it in any manner whatsoever to the Trustee for cancellation, and such Bonds, upon such surrender and cancellation, shall be deemed to be paid and surrendered, and the Trustee shall cancel the surrendered Bonds and delete them from the Bond Register. Notwithstanding any such prepayment or surrender of Bonds, as long as any Bonds remain Outstanding or any Reimbursement Obligations or Additional Payments remain unpaid, the Borrower shall not be relieved of its obligations hereunder. If the Borrower is not in default in the payment of any Reimbursement Obligations or Additional Payments, the Authority, at the request of the Borrower, at any time that there is on deposit with the Trustee money or securities in the amount necessary to pay or redeem all Bonds Outstanding and to pay all Reimbursement Obligations (as provided in Article IX of the Indenture), shall forthwith take all steps that may be necessary to discharge the entire indebtedness on all Bonds Outstanding.
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Extraordinary Optional Prepayment. If any recalculation of the average reasonably expected economic life of the Project pursuant to Section 5.5 demonstrates that the average maturity of the Series 2020B Bonds exceeds 120% of the average reasonably expected economic life of the Project relating to the Series 2020B Bonds, the Corporation covenants and agrees (a) to deposit in the Debt Service Fund established in Section 401 of the Bond Indenture an amount which, when applied by the Bond Trustee to redeem or purchase Series 2020B Bonds, is sufficient, in the opinion of Bond Counsel, to cause the average maturity of the Series 2020B Bonds to be no more than 120% of the average reasonably expected economic life of the Project, or (b) to deliver to the Bond Trustee an opinion of Bond Counsel indicating that even though the average maturity of the Series 2020B Bonds exceeds 120% of the average reasonably expected economic life of the Project, such fact will not adversely affect the validity of the Series 2020B Bonds or adversely affect any exclusion from gross income for purposes of federal income taxation of the interest earned by the owners of the Series 2020B Bonds. Such deposit shall be made at such time as to permit the Bond Trustee to (1) call such Series 2020B Bonds for optional redemption pursuant to Section 301 of the Bond Indenture not later than first day such Series 2020B Bonds can be redeemed at a price of par, and (2) give proper notice of redemption pursuant to Section 304 of the Bond Indenture.
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Extraordinary Optional Prepayment. In the event of substantial damage to or destruction or condemnation (other than condemnation by the District or any entity controlled by or otherwise affiliated with the District) of, or loss of title to, substantially all of the Real Property or Improvements, or if, as a result of changes in the Constitution of the State or legislative or administrative action by the State or the United States, or the Base Lease or Lease becomes unenforceable, and the Improvements are not repaired or replaced, then the District will have the option to purchase the Improvements, in whole, on the date the District specifies as the purchase date in the District’s notice to the Trustee of its exercise of the purchase option (the “Extraordinary Optional Prepayment Date”), upon payment in full of a Purchase Price equal to (i) the Principal Portion of Basic Rent Payments, plus (ii) the Interest Portion of Basic Rent Payments (calculated at the Interest Rate) accrued to the Extraordinary Optional Prepayment Date, plus (iii) accrued interest on the Principal Portion of the Basic Rent Payments called for prepayment to the Extraordinary Optional Prepayment Date. The District shall give the Trustee at least 30 days’ written notice prior to the Extraordinary Optional Prepayment Date.
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Extraordinary Optional Prepayment. The Contracting Party shall have, subject, to the conditions hereinafter imposed, the option to terminate this Series 1989D Agreement upon the payment of an amount (determined as provided in Section 6.1 hereof) which would permit the redemption of the entire amount of unpaid principal balance of the Bonds secured by the Basic Indenture in accordance with the applicable provisions of the Indenture upon the occurrence of any of the following events:
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Extraordinary Optional Prepayment. During the Fixed Rate Period and with the written consent of the Bank (so long as the Letter of Credit is in effect and has not been wrongfully dishonored), the Obligor shall have, and is hereby granted, the option to prepay the unpaid balance of the Loan Payments payable under Section 4.2(a) hereof, together with interest thereon, as may be required to redeem, pursuant to the terms of the Bonds, all Bond principal then outstanding if, in the reasonable opinion of the Obligor:
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Extraordinary Optional Prepayment. The Loan is subject to extraordinary optional prepayment, and the Developer shall have the right to prepay the same, as a whole or in part with respect to paragraph (a), (b) or (d) hereof, upon the occurrence of any of the following events, with respect to one or more of the Developments, at a prepayment price if as a whole, equal to the principal amount of the Loan then outstanding prepaid, plus accrued interest to the date fixed for such redemption and without premium from such prepayment, and if in part, at a prepayment price including accrued interest to the date fixed for redemption equal to the Insurance Proceeds or the proceeds of any Condemnation Award delivered in Available Moneys to the Trustee by 2:00 p.m., New York, New York time on the date fixed for such redemption if:
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Extraordinary Optional Prepayment. In the event of substantial damage to or destruction or condemnation (other than condemnation by the District or any entity controlled by or otherwise affiliated with the District) of, or loss of title to, substantially all of the Improvements, or if, as a result of changes in the Constitution of Kansas or legislative or administrative action by the State of Kansas or the United States, the Lease becomes unenforceable, and the Improvements is not repaired or replaced and the District purchases the Improvements pursuant to Section 10.01(b) of the Lease, the Series 2012 Certificates are subject to optional prepayment prior to their nominal maturity, in whole, on any date, at a Prepayment Price equal to (i) the Principal Portion of Basic Rent Payments called for prepayment, plus
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Extraordinary Optional Prepayment. The Loan is subject to extraordinary optional prepayment, and the Owner shall have the right to prepay the same upon the occurrence of any of the following events, with respect to the Project, for a prepayment price equal to the principal balance of the Loan then Outstanding so prepaid, plus interest accrued to the date fixed for redemption of the Bonds from such prepayment:
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Related to Extraordinary Optional Prepayment

  • Optional Prepayment The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without prepayment penalty or premium subject to the requirements of this Section and Section 2.15.

  • Optional Prepayments The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with Section 3.04(b).

  • Notice of Optional Prepayment The Company shall give the holder of each Note of a Series to be prepaid pursuant to paragraph 4C irrevocable written notice of such prepayment not less than 10 Business Days prior to the prepayment date, specifying such prepayment date, the aggregate principal amount of the Notes of such Series to be prepaid on such date, the principal amount of the Notes of such Series held by such holder to be prepaid on that date and that such prepayment is to be made pursuant to paragraph 4C. Notice of prepayment having been given as aforesaid, the principal amount of the Notes specified in such notice, together with interest thereon to the prepayment date and together with the Yield-Maintenance Amount, if any, herein provided, shall become due and payable on such prepayment date. The Company shall, on or before the day on which it gives written notice of any prepayment pursuant to paragraph 4C, give telephonic notice of the principal amount of the Notes to be prepaid and the prepayment date to each Significant Holder which shall have designated a recipient for such notices in the Purchaser Schedule attached hereto or the applicable Confirmation of Acceptance or by notice in writing to the Company.

  • Optional Prepayments of Advances The Borrower may, upon at least two Business Days’ notice, in the case of Eurodollar Rate Advances, and upon notice not later than 11:00 A.M. (New York City time) on the date of prepayment, in the case of Base Rate Advances, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in a minimum amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Advance, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Optional Prepayment of Loans (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section.

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Optional Prepayments with Make-Whole Amount (a) The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, any Series of the Notes, in an amount not less than 10% of the aggregate principal amount of such Series of the Notes then outstanding (but if in the case of a partial prepayment, then against each tranche within such Series of Notes in proportion to the aggregate principal amount outstanding of each tranche of such Series), at 100% of the principal amount so prepaid, together with interest accrued thereon to the date of such prepayment, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of the Series of Notes to be prepaid written notice of each optional prepayment under this Section 8.2 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the aggregate principal amount of the Series of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of the Series of Notes to be prepaid a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

  • Payment Prepayment All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty.

  • Optional Repayment If so indicated in the Accumulation Fund Schedule, GLAIC shall pay to the Policyholder the amount the Policyholder needs to redeem or repay any notes or other instruments issued by the Policyholder and backed by this Policy, pursuant to any limited right of redemption or repayment contained in such note or instrument. GLAIC may require reasonable evidence that the redemption or repayment request satisfies all the terms and conditions described in the prospectus, prospectus supplement and/or pricing supplement applicable to such note or other instrument. Additional restrictions, if any, on the Policyholder’s reimbursement rights under this Section may be included in the Accumulation Fund Schedule.

  • Prepayment Prepayment of the Notes to be prepaid pursuant to this Section 8.7 shall be at 100% of the principal amount of such Notes, together with accrued and unpaid interest on such Notes accrued to the date of prepayment but without any Make-Whole Amount. The prepayment shall be made on the Change in Control Proposed Prepayment Date, except as provided by Section 8.7(f).

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