No Prepayment Fee Clause Samples
The No Prepayment Fee clause stipulates that a borrower can repay all or part of a loan before its scheduled due date without incurring any additional charges or penalties. In practice, this means that if a borrower has extra funds or wishes to reduce their debt early, they can do so freely, whether through lump-sum payments or accelerated installments. This clause primarily benefits borrowers by providing flexibility and cost savings, as it removes financial barriers to early repayment and encourages responsible debt management.
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No Prepayment Fee. The prepayments and payments in respect of reductions and terminations described in clauses (i) and (ii) of this Section 4.01(a) may be made without premium or penalty (except as provided in Article XIV).
No Prepayment Fee. Notwithstanding anything contained in any of the Convertible Notes to the contrary, no prepayment fee or similar prepayment penalty shall be applicable to any amounts paid under this clause 6.
No Prepayment Fee. Notwithstanding anything contained in any of the Facility Agreements to the contrary, no prepayment fee or similar prepayment penalty shall be applicable to any amounts paid under this clause 6.
No Prepayment Fee. No prepayment fee shall be due in connection with or on account of any prepayment of the Loan.
No Prepayment Fee. The prepayments and payments described in Section 3.01(a) may be made without premium or penalty (except as provided in Section 13.05). Designated Prepayments shall be made without premium or penalty (except as provided in Section 13.05); provided, however, that, in the event a Designated Prepayment which is to be applied to a Eurodollar Rate Loan becomes due and payable at a time when no Event of Default exists but on a date which is other than the last day of the Eurodollar Interest Period applicable thereto, the Lenders (i) hereby authorize the Agent to retain the amount of such Designated Prepayment delivered to it for application on such Eurodollar Rate Loan as Cash Collateral therefor until the last day of the Eurodollar Interest Period applicable thereto and to apply such amount to such Eurodollar Rate Loan only on such last day of such Eurodollar Interest Period and (ii) agree that Borrower's delivery of the amount of such Designated Prepayment to the Agent as aforesaid shall be deemed to have complied with the requirements of Section 3.01(b). All Cash Collateral held by the Agent pursuant to this Section 3.01(c) shall be held by the Agent in a Cash Collateral Account and all interest earned on such Cash Collateral shall be the property of the Borrower and shall be paid to the Borrower quarterly.