Common use of Notice of Prepayment Clause in Contracts

Notice of Prepayment. Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 6 contracts

Samples: Credit Agreement (Herbalife Ltd.), Credit Agreement (Herbalife Ltd.), Credit Agreement (Herbalife Ltd.)

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Notice of Prepayment. Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, prepayment and (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before on the date of prepayment. Each such notice shall be irrevocable and irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall Such notice to the Lenders may be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepaymentby electronic communication. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section 2.10. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 3 contracts

Samples: Credit Agreement (HC2 Holdings, Inc.), Credit Agreement (HC2 Holdings, Inc.), Credit Agreement (HC2 Holdings, Inc.)

Notice of Prepayment. Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, prepayment and (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one four hours (during the normal Business Day before the date of prepayment, and (iiiDay) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prior to such prepayment. Each such notice shall be irrevocable and irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing Credit Extension of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section 2.10. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Regency Energy Partners LP), Second Lien Credit Agreement (Regency Energy Partners LP)

Notice of Prepayment. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopye-mail) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Term SOFR Borrowing, not later than 11:00 a.m.12:00 noon, New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m.12:00 noon, New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g)of a Daily Simple SOFR Borrowing, not later than 11:00 a.m.12:00 noon, New York City time, ten five Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, date and the principal amount of each Borrowing or portion thereof to be prepaid andprepaid; provided that a notice of voluntary prepayment under Section 5.06(a) of any Borrowing may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the case Borrower (by notice to the Administrative Agent on or prior to the specified date of a mandatory prepayment, a reasonably detailed calculation of the amount of ) if such prepaymentcondition is not satisfied. Promptly following receipt of any such noticenotice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 2 contracts

Samples: Year Revolving Credit Agreement (Zimmer Biomet Holdings, Inc.), Five Year Revolving Credit Agreement (Zimmer Biomet Holdings, Inc.)

Notice of Prepayment. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopye-mail) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Term SOFR Borrowing, not later than 11:00 a.m.12:00 noon, New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m.12:00 noon, New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g)of a Daily Simple SOFR Borrowing, not later than 11:00 a.m.12:00 noon, New York City time, ten five Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, date and the principal amount of each Borrowing or portion thereof to be prepaid andprepaid; provided that a notice of voluntary prepayment under Section 3.05(a) of any Borrowing may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be revoked by the case Borrower (by notice to the Administrative Agent on or prior to the specified date of a mandatory prepayment, a reasonably detailed calculation of the amount of ) if such prepaymentcondition is not satisfied. Promptly following receipt of any such noticenotice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 2 contracts

Samples: 364 Day Revolving Credit Agreement (Zimmer Biomet Holdings, Inc.), 364 Day Revolving Credit Agreement (Zimmer Biomet Holdings, Inc.)

Notice of Prepayment. Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, prepayment and (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing Loan of the same Type as provided in Section 2.02, 2.02 except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section 2.10. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 1 contract

Samples: Credit Agreement (Thompson Creek Metals CO Inc.)

Notice of Prepayment. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder under this Section 2.09 (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, prepayment and (ii) in the case of prepayment of an ABR a Base Rate Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, date and the principal amount of each Borrowing or portion thereof to be prepaid andprepaid; provided that, if a notice of prepayment is given in the case connection with a conditional notice of a mandatory prepayment, a reasonably detailed calculation termination of the amount Commitments as contemplated by Section 2.07, then such notice of prepayment may be revoked if such prepaymentnotice of termination is revoked in accordance with Section 2.07. Promptly following receipt of any such noticenotice related to a prepayment, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any a Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Class and Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Revolving Credit Borrowing shall be applied ratably to the Revolving Credit Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.062.11.

Appears in 1 contract

Samples: Credit Agreement (Nl Industries Inc)

Notice of Prepayment. Borrower The Borrowers shall notify the relevant Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Term Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of a Revolving Borrowing, not later than 11:00 a.m. (London time) three Business Days before the date of prepayment and (iii) in the case of prepayment of an ABR Term Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the relevant Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.062.06 but shall be made without premium or penalty (but always subject to Section 2.13).

Appears in 1 contract

Samples: Credit Agreement (Petroleum Geo Services Asa)

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Notice of Prepayment. Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar BorrowingLoan, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, and (ii) in the case of prepayment of an ABR Borrowinga Base Rate Loan, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing Loan of the same Type as provided in Section 2.022.2, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section 2.10. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.062.6.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Nacco Industries Inc)

Notice of Prepayment. Borrower Parent shall notify the Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, prepayment and (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be (i) an integral multiple of $1.0 million and not less than $5.0 million or (ii) the aggregate principal amount of the Loans of the applicable Class then outstanding, in an amount that would be permitted in the case of an advance of a Borrowing Credit Extension of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.06.

Appears in 1 contract

Samples: Credit Agreement (Bearingpoint Inc)

Notice of Prepayment. Borrower Borrowers shall notify the Administrative Agent by telephone (confirmed by telecopy) written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment, prepayment and (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, and (iii) in the case of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepayment. Each such notice shall be irrevocable and irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an aggregate principal amount that would be permitted in the case is an integral multiple of an advance of a Borrowing of the same Type as provided in Section 2.02$250,000 and not less than $1.0 million, except as necessary to apply fully the required amount of a mandatory prepaymentprepayment or to repay the total amount of all outstanding Loans. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section 2.10. Prepayments shall be accompanied by include accrued interest to the extent required by Section 2.06.

Appears in 1 contract

Samples: Credit Agreement (USA Mobility, Inc)

Notice of Prepayment. The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swing Loan, the Swingline Lender) by telephone (confirmed by telecopy) written notice of any prepayment hereunder under Section 1.10(a) (i) in the case of prepayment of a Eurodollar LIBOR Borrowing, not later than 11:00 a.m.12:00 p.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Base Rate Borrowing, not later than 11:00 a.m.12:00 p.m., New York City time, one Business Day before on the same day of the date of prepayment, prepayment and (iii) in the case of any mandatory prepayment under Section 2.10(g)of a Swing Loan, not later than 11:00 a.m.2:00 p.m., New York City time, ten Business Days before on the date of prepayment. Each such notice shall be irrevocable and irrevocable; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 1.7, then such notice of prepayment may be revoked if such termination is revoked in accordance with Section 1.7. Each such notice shall specify the prepayment date, and the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepaymentprepaid. Promptly following receipt of any such noticenotice (other than a notice relating solely to Swing Loans), the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing Loan of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment1.2. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid BorrowingBorrowing and otherwise in accordance with this Section 1.10. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.061.6.

Appears in 1 contract

Samples: Credit Agreement (Archipelago Learning, Inc.)

Notice of Prepayment. Parent Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) irrevocable written notice of any prepayment hereunder (i) in the case of prepayment of a Eurodollar BorrowingBase Rate Loan, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment and (ii) in the case of prepayment of a LIBOR Loan, not later than 11:00 a.m., New York City time, three Business Days before the date of prepaymentprepayment (provided that if the date of such prepayment is on or prior to May 31, (ii) 2010 an extra three Business Days notice will be required in the case of prepayment each of an ABR Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment, clause (i) and (iii) in ii)). Such notice shall be irrevocable subject to the case last sentence of any mandatory prepayment under Section 2.10(g), not later than 11:00 a.m., New York City time, ten Business Days before the date of prepaymentthis paragraph. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be Term Loan prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in In the case of an advance a mandatory prepayment pursuant to Section 1.5(c) made on or prior to May 31, 2010, the Lenders will have one (1) Business Day (or such longer period as the Agent may allow in its sole discretion) after they are advised of a Borrowing such prepayment during which they may notify the Agent in writing that they reject such prepayment, in which case such rejected amount shall be retained by Parent Borrower, the amount of the same Type as provided in Section 2.02, except as necessary to apply fully the required amount of a mandatory prepayment. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments modified accordingly and Section 1.5(c) shall be accompanied by accrued interest to the extent required by Section 2.06deemed satisfied if such modified prepayment amount is prepaid.

Appears in 1 contract

Samples: Credit Agreement (Neff Rental Inc)

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