Option to Prepay Loan Sample Clauses

Option to Prepay Loan. The Borrower shall have, and is hereby granted the option, to prepay the Loan in full prior to the Termination Date and prior to the payment and discharge of all the outstanding Bonds in accordance with the provisions of the Indenture, if any of the following shall have occurred:
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Option to Prepay Loan. The Borrower shall have the option to prepay the Loan and cause to be redeemed the Borrower Subordinate Promissory Note and the Note, in whole or in part, upon the terms set forth in the Borrower Subordinate Promissory Note and the Note. Any partial prepayment of the Borrower Subordinate Promissory Note and the Note shall reduce the outstanding principal balance of the Borrower Subordinate Promissory Note and the Note in inverse order of the principal installments unpaid thereon. Any such partial prepayment shall be applied first to accrued interest and finally to installments of principal in the inverse order of their maturity. In the event the Borrower elects to prepay the Loan, the Borrower shall cause to be given in the name of the Issuer due notice of redemption or prepayment of the Borrower Subordinate Promissory Note and the Note as required by the provisions thereof, and shall pay the redemption price when due to the Lender. The Issuer hereby authorizes the Borrower to give all required notices of prepayment of the Note.
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Option to Prepay Loan. (a) The Borrower shall have, and is hereby granted, an option (i) to prepay in whole or in part the amounts payable in respect of the Bonds under Section 4.01 by taking, or causing the Authority to take, the actions required for Payment of the Bonds or (ii) to effect an optional redemption of the Bonds, pursuant to the Trust Agreement; provided, however that any such prepayment or redemption shall require the prior consent of the Letter of Credit Bank. To exercise the option granted in this subsection, the Borrower shall give to the Authority and the Trustee the consent of the Letter of Credit Bank and notice setting forth (i) the date to be fixed for redemption, (ii) the amount to be prepaid and (iii) the principal amount of Bonds to be redeemed.
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Option to Prepay Loan. The Borrower may prepay the Loan in whole or in part upon giving 30 days’ prior written notice to the Board and the Trustee. The prepayment price shall be equal to the sum of (a) the principal amount of the Loan to be prepaid, and (b) the accrued interest thereon to the date of prepayment. No premium or penalty shall apply to the prepayment of a Loan. If the Loan is prepaid in part, the principal amount of the Loan shall be reduced by the portion of the prepayment representing principal and the Loan shall be reamortized by ratably reducing the principal portion of each remaining Loan Repayment.
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Option to Prepay Loan. VIII-1 Sec. 8.02. Mandatory Prepayment ........................ VIII-1 Sec. 8.03. Purchase of Bonds ........................... VIII-1 Sec. 8.04. Relative Position of Loan Agreement and Trust Indenture ............................. VIII-2 ARTICLE IX
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Option to Prepay Loan. (a) The Corporation shall nave, and is hereby granted, an option to prepay in full the amounts payable in respect of the Bonds under Section 4.01 hereof at any time by taking, or causing the Issuer to take, the actions required for Payment of the Bonds.
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Option to Prepay Loan. The Borrowers shall have, and are hereby granted, an option, to prepay all or part (in the amount of $5,000 or any integral multiple thereof) of the Loan Payments due or to become due, subject to such terms, with such deposit requirements and on the dates and at the prepayment prices as are set forth in Sections 2.1 and 2.6 hereof upon giving notice in accordance with Section 8.4 hereof.
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Option to Prepay Loan. (a) The Borrower shall have, and is hereby granted an option, to prepay in whole or in part the amounts payable in respect of the Bonds under Section 4.01 by taking, or causing the Authority to take, the actions required for Payment of the Bonds, or (ii) to effect an optional redemption of the Bonds, pursuant to the Trust Agreement. To exercise the option granted in this Section, the Borrower shall give to the Authority and the Trustee notice setting forth (i) the date to be fixed for redemption; (ii) the amount to be prepaid and (iii) the principal amount of Bonds to be redeemed.
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Related to Option to Prepay Loan

  • 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 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.

  • 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 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).

  • 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 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).

  • Right to Prepay The Borrower shall have the right at its option from time to time to prepay the Loans in whole or part without premium or penalty (except as provided in Section 5.4.2 below or in Section 5.6 [Additional Compensation in Certain Circumstances]):

  • Term Loan Prepayments (i) On each occasion that a Prepayment Event occurs, the Borrower shall, within three Business Days after receipt of the Net Cash Proceeds of a Debt Incurrence Prepayment Event (other than one covered by clause (iii) below) and within ten Business Days after the occurrence of any other Prepayment Event (or, in the case of Deferred Net Cash Proceeds, within ten Business Days after the Deferred Net Cash Proceeds Payment Date), prepay, in accordance with clause (c) below, Term Loans with an equivalent principal amount equal to 100% of the Net Cash Proceeds from such Prepayment Event; provided that, with respect to the Net Cash Proceeds of an Asset Sale Prepayment Event, Casualty Event or Permitted Sale Leaseback, in each case solely to the extent with respect to any Collateral, the Borrower may use a portion of such Net Cash Proceeds to prepay or repurchase Permitted Other Indebtedness (and with such prepaid or repurchased Permitted Other Indebtedness permanently extinguished) with a Lien on the Collateral ranking equal with the Liens securing the Obligations to the extent any applicable Permitted Other Indebtedness Document requires the issuer of such Permitted Other Indebtedness to prepay or make an offer to purchase such Permitted Other Indebtedness with the proceeds of such Prepayment Event, in each case in an amount not to exceed the product of (x) the amount of such Net Cash Proceeds multiplied by (y) a fraction, the numerator of which is the outstanding principal amount of the Permitted Other Indebtedness with a Lien on the Collateral ranking equal with the Liens securing the Obligations and with respect to which such a requirement to prepay or make an offer to purchase exists and the denominator of which is the sum of the outstanding principal amount of such Permitted Other Indebtedness and the outstanding principal amount of Term Loans.

  • Partial Prepayments Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $100,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied first to the principal of any Outstanding Swing Loans, then to the principal of Revolving Credit Loans. In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate Loans, and then to the principal of LIBOR Rate Loans.

  • Revolving Loan Prepayments (i) In the event of the termination of all the Revolving Commitments, Borrower shall, on the date of such termination, repay or prepay all its outstanding Revolving Borrowings and all outstanding Swingline Loans and replace all outstanding Letters of Credit or cash collateralize all outstanding Letters of Credit in accordance with the procedures set forth in Section 2.18(i).

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