Common use of Loan Prepayments Clause in Contracts

Loan Prepayments. The Borrower may prepay the principal amount of any Prime Advance in whole or in part from time to time without any prepayment penalty. The Borrower may not prepay any LIBOR Advance before the expiration of the LIBOR Interest Period applicable to such LIBOR Advance, except upon the payment of the amount provided for below. If any LIBOR Advance becomes due and payable or is prepaid prior to the last day of the applicable LIBOR Interest Period (including any prepayment resulting from the acceleration of the Loan by the Lenders as a consequence of an Event of Default), the Borrower also promises to reimburse the Lenders on demand for any resulting loss, cost, or expense incurred by the Lenders as a result thereof including, without limitation, any loss incurred in obtaining, liquidating, or employing deposits from third parties, but excluding the Lenders' loss of margin for the period after any such payment. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, there shall be any increase in the cost to the Lenders of making, funding, maintaining, or allocating capital to LIBOR Advances, then from time to time, within fifteen (15) days after demand by the Agent, the Borrower shall either (a) pay to the Lenders additional amounts sufficient to compensate the Lenders for such increased cost; or (b) convert all LIBOR Advances to a Prime Advance. If the Borrower elects the option provided in the foregoing subparagraph (b), the Borrower shall not be subject to the requirement hereunder that the Borrower reimburse the Lenders for any loss, cost or expense incurred by the Lenders as a result of the Borrower paying a LIBOR Advance prior to the end of the applicable LIBOR Interest Period; provided, however, thereafter the Borrower may not elect for any Advances to be LIBOR Advances. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for the Lenders to make, fund, or maintain any LIBOR Advance, then the Lenders' obligation to make, fund, or maintain any LIBOR Advance shall terminate.

Loan Prepayments. The Borrower Borrowers may at any time and from time to time prepay the principal amount of any Prime Advance Loans, in whole or in part from time part, without premium or penalty, upon irrevocable notice delivered to time without any prepayment penalty. The Borrower may not prepay any LIBOR Advance before Lender no later than 11:00 A.M., Pacific time, three Business Days prior thereto, in the expiration case of Eurodollar Loans, and no later than 11:00 A.M., Pacific time, one Business Day prior thereto, in the case of ABR Loans, which notice shall specify the date and amount of the LIBOR Interest Period applicable to such LIBOR Advance, except upon the payment of the amount proposed prepayment; provided for below. If any LIBOR Advance becomes due and payable or that if a Eurodollar Loan is prepaid prior to on any day other than the last day of the applicable LIBOR Interest Period applicable thereto, the Borrowers shall also pay any amounts owing pursuant to Section 2.19; provided, further, that if such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing, such notice of prepayment may be revoked if the financing is not consummated. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (including except in the case of Revolving Loans that are ABR Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof. Notwithstanding anything contained herein or in any prepayment resulting from Loan Document to the acceleration contrary and subject to the terms of the Term Loan by Intercreditor Agreement, if any Borrower is obligated to make a prepayment of the Lenders as Term Loan pursuant to the terms and conditions of the Term Loan Documents (each a consequence of an Event of Default“Term Loan Mandatory Prepayment”), the Borrower also promises to reimburse the Lenders on demand for any resulting loss, cost, or expense incurred by the Lenders as a result thereof including, without limitation, any loss incurred in obtaining, liquidating, or employing deposits from third parties, but excluding the Lenders' loss of margin for the period after any such payment. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, there shall be any increase in the cost to the Lenders of making, funding, maintaining, or allocating capital to LIBOR Advances, then from time to time, within fifteen (15) days after demand by the Agent, the Borrower shall either (a) pay to such Borrower shall obtain the Lenders additional amounts sufficient to compensate the Lenders for written consent of Lender in advance of making such increased cost; or Term Loan Mandatory Prepayment and (b) convert all LIBOR Advances each Borrower acknowledges and agrees that Lender, in its sole and absolute discretion, may require such Borrower to a Prime Advance. If pay to Lender the Borrower elects aggregate principal amount of such Term Loan Mandatory Prepayment for application to the option provided Obligations and the Term Loan in the foregoing subparagraph following order: (b)i) first, to the payment of the Obligations, (ii) second, to Cash Collateralize that portion of the L/C Exposure comprised of the aggregate undrawn amount of Letters of Credit pursuant to Section 3.10 and (iii) last, the Borrower shall not be subject balance, if any, after application pursuant to clauses (i) and (ii) above, to the requirement hereunder that Term Loan Agent for application to the Borrower reimburse Term Loan Mandatory Prepayment pursuant to the Lenders for any loss, cost or expense incurred by the Lenders as a result terms of the Borrower paying a LIBOR Advance prior to the end of the applicable LIBOR Interest Period; provided, however, thereafter the Borrower may not elect for any Advances to be LIBOR Advances. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for the Lenders to make, fund, or maintain any LIBOR Advance, then the Lenders' obligation to make, fund, or maintain any LIBOR Advance shall terminateTerm Loan Documents.

Loan Prepayments. The Borrower may prepay the principal amount of any Prime Advance in whole or in part from time to time without any prepayment penalty. The Borrower may not prepay any LIBOR Advance before the expiration of the LIBOR Interest Period applicable to such LIBOR Advance, except upon the payment of the amount provided for below. If any LIBOR Advance becomes due and payable or is prepaid prior to the last day of the applicable LIBOR Interest Period (including any prepayment resulting from the acceleration of the Loan Loan(s) by the Lenders as a consequence of an Event of Default), the Borrower also promises to reimburse the Lenders on demand for any resulting loss, cost, or expense incurred by the Lenders as a result thereof including, without limitation, any loss incurred in obtaining, liquidating, or employing deposits from third parties, but excluding the Lenders' loss of margin for the period after any such payment. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, there shall be any increase in the cost to the Lenders of making, funding, maintaining, or allocating capital to LIBOR Advances, then from time to time, within fifteen (15) days after demand by the Agent, the Borrower shall either (a) pay to the Lenders additional amounts sufficient to compensate the Lenders for such increased cost; or (b) convert all LIBOR Advances to a Prime Advance. If the Borrower elects the option provided in the foregoing subparagraph (b), the Borrower shall not be subject to the requirement hereunder that the Borrower reimburse the Lenders for any loss, cost or expense incurred by the Lenders as a result of the Borrower paying a LIBOR Advance prior to the end of the applicable LIBOR Interest Period; provided, however, thereafter the Borrower may not elect for any Advances to be LIBOR Advances. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for the Lenders to make, fund, or maintain any LIBOR Advance, then the Lenders' obligation to make, fund, or maintain any LIBOR Advance shall terminate.

Loan Prepayments. The Borrower Borrowers may at any time and from time to time prepay the principal amount of any Prime Advance Loans, in whole or in part from time part, without premium or penalty, upon irrevocable notice delivered to time without any prepayment penalty. The Borrower may not prepay any LIBOR Advance before Lender no later than 11:00 A.M., Pacific time, three Business Days prior thereto, in the expiration case of Eurodollar Loans, and no later than 11:00 A.M., Pacific time, one Business Day prior thereto, in the case of ABR Loans, which notice shall specify the date and amount of the LIBOR Interest Period applicable to such LIBOR Advance, except upon the payment of the amount proposed prepayment; provided for below. If any LIBOR Advance becomes due and payable or that if a Eurodollar Loan is prepaid prior to on any day other than the last day of the applicable LIBOR Interest Period applicable thereto, the Borrowers shall also pay any amounts owing pursuant to Section 2.19; provided, further, that if such notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing, such notice of prepayment may be revoked if the financing is not consummated. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (including except in the case of Revolving Loans that are ABR Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof. Notwithstanding anything contained herein or in any prepayment resulting from Loan Document to the acceleration contrary and subject to the terms of the Term Loan by Intercreditor Agreement, if any Borrower is obligated to make a prepayment of the Lenders as Term Loan pursuant to the terms and conditions of the Term Loan Documents (each a consequence of an Event of Default“Term Loan Mandatory Prepayment”), the Borrower also promises to reimburse the Lenders on demand for any resulting loss, cost, or expense incurred by the Lenders as a result thereof including, without limitation, any loss incurred in obtaining, liquidating, or employing deposits from third parties, but excluding the Lenders' loss of margin for the period after any such payment. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, there shall be any increase in the cost to the Lenders of making, funding, maintaining, or allocating capital to LIBOR Advances, then from time to time, within fifteen (15) days after demand by the Agent, the Borrower shall either (a) pay to such Borrower shall obtain the Lenders additional amounts sufficient to compensate the Lenders for written consent of Lender in advance of making such increased cost; or Term Loan Mandatory Prepayment and (b) convert all LIBOR Advances each; provided that if such consent is not delivered, such Borrower acknowledges and agrees that Lender, in its sole and absolute discretion, may require such Borrower toshall pay to a Prime Advance. If Lender, on the Borrower elects date that such Term Loan Mandatory Prepayment would otherwise have been required to be made under the option provided Term Loan Documents, the aggregate principal amount of such Term Loan Mandatory Prepayment for application to the Obligations and the Term Loan in the foregoing subparagraph following order: (bi) first, to the payment of the Obligations (together with a corresponding permanent reduction of the Revolving Commitment), (ii) second, to Cash Collateralize that portion of the Borrower shall not be subject L/C Exposure comprised of the aggregate undrawn amount of Letters of Credit pursuant to Section 3.10 (together with a corresponding permanent reduction of the Revolving Commitment) and (iii) last, the balance, if any, after application pursuant to clauses (i) and (ii) above, to the requirement hereunder that Term Loan Agent for application to the Borrower reimburse Term Loan Mandatory Prepayment pursuant to the Lenders for any loss, cost or expense incurred by the Lenders as a result terms of the Borrower paying a LIBOR Advance prior to the end of the applicable LIBOR Interest Period; provided, however, thereafter the Borrower may not elect for any Advances to be LIBOR Advances. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for the Lenders to make, fund, or maintain any LIBOR Advance, then the Lenders' obligation to make, fund, or maintain any LIBOR Advance shall terminateTerm Loan Documents.

Loan Prepayments. The Borrower may prepay the principal amount of any Prime Advance in whole or in part from time to time without any prepayment penalty. The Borrower may not prepay any LIBOR Advance before the expiration of the LIBOR Interest Period applicable to such LIBOR Advance, except upon the payment of the amount provided for below. If any LIBOR Advance becomes due and payable or is prepaid prior to the last day of the applicable LIBOR Interest Period (including any prepayment resulting from the acceleration of the Loan by the Lenders Bank as a consequence of an Event of Default), the Borrower also promises to reimburse the Lenders Bank on demand for any resulting loss, cost, or expense incurred by the Lenders Bank as a result thereof including, without limitation, any loss incurred in obtaining, liquidating, or employing deposits from third parties, but excluding the Lenders' Bank's loss of margin for the period after any such payment; provided, however, the Borrower shall not be required to reimburse the Bank for any loss, cost or expenses incurred by the Bank as a result of the prepayment of a LIBOR Advance prior to the last day of the applicable LIBOR Interest period if such LIBOR Advance is paid in full and such prepayment results from the sale of the Project in respect of which such LIBOR Advance was made. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, there shall be any increase in the cost to the Lenders Bank of making, funding, maintaining, or allocating capital to LIBOR Advances, then from time to time, within fifteen (15) days after demand by the AgentBank, the Borrower shall either (a) pay to the Lenders Bank additional amounts sufficient to compensate the Lenders Bank for such increased cost; or (b) convert all LIBOR Advances to a Prime Advance. If the Borrower elects the option provided in the foregoing subparagraph (b), the Borrower shall not be subject to the requirement hereunder that the Borrower reimburse the Lenders Bank for any loss, cost or expense incurred by the Lenders Bank as a result of the Borrower paying a LIBOR Advance prior to the end of the applicable LIBOR Interest Period; provided, however, thereafter the Borrower may not elect for any Advances to be LIBOR Advances. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for the Lenders Bank to make, fund, or maintain any LIBOR Advance, then the Lenders' Bank's obligation to make, fund, or maintain any LIBOR Advance shall terminate.

Loan Prepayments. The Borrower may prepay the principal amount of any Prime Advance in whole or in part from time to time without any prepayment penalty. The Borrower may not prepay any LIBOR Advance before the expiration of the LIBOR Interest Period applicable to such LIBOR Advance, except upon the payment of the amount provided for below. If any LIBOR Advance becomes due and payable or is prepaid prior to the last day of the applicable LIBOR Interest Period (including any prepayment resulting from the acceleration of the Loan by the Lenders Bank as a consequence of an Event of Default), the Borrower also promises to reimburse the Lenders Bank on demand for any resulting loss, cost, or expense incurred by the Lenders Bank as a result thereof including, without limitation, any loss incurred in obtaining, liquidating, or employing deposits from third parties, but excluding the Lenders' Bank's loss of margin for the period after any such payment. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, there shall be any increase in the cost to the Lenders Bank of making, funding, maintaining, or allocating capital to LIBOR Advances, then from time to time, within fifteen (15) days after demand by the AgentBank, the Borrower shall either (a) pay to the Lenders Bank additional amounts sufficient to compensate the Lenders Bank for such increased cost; or (b) convert all LIBOR Advances to a Prime Advance. If the Borrower elects the option provided in the foregoing subparagraph (b), the Borrower shall not be subject to the requirement hereunder that the Borrower reimburse the Lenders Bank for any loss, cost or expense incurred by the Lenders Bank as a result of the Borrower paying a LIBOR Advance prior to the end of the applicable LIBOR Interest Period; provided, however, thereafter the Borrower may not elect for any Advances to be LIBOR Advances. If, because of the introduction of or any change in, or because of any judicial, administrative, or other governmental interpretation of, any law or regulation, it becomes unlawful for the Lenders Bank to make, fund, or maintain any LIBOR Advance, then the Lenders' Bank's obligation to make, fund, or maintain any LIBOR Advance shall terminate.