Optional and Mandatory 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; provided that the Borrower shall not have the right to prepay any Competitive Loan without the prior written consent of the Lender thereof.
Optional and Mandatory 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, without premium or penalty (but subject to Section 2.14), subject, to prior notice in accordance with this paragraph. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder pursuant to this paragraph (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, or (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. Each such notice shall be irrevocable and shall specify the name of the Borrower effecting such prepayment, the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.07, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.07. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing pursuant to this paragraph 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.
Optional and Mandatory Prepayment of Loans. (a) The Borrowers shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without premium or penalty (but subject to Section 2.10(d) and Section 2.14), in an aggregate principal amount of at least $1,000,000 and integral multiples of $1,000,000 in excess of that amount (or, if less, the aggregate amount then outstanding), subject to prior notice in accordance with Section 2.08(b).
Optional and Mandatory 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 this Section. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder not later than 11:00 a.m., New York City time, five Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that if a notice of prepayment is given in connection with a conditional notice of termination of the Construction Loan Commitments as contemplated by Section 2.06, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.06. Promptly following receipt of any such notice 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 Eurodollar Borrowing as provided in Section 2.02. 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 2.12. The Borrower shall also submit with each prepayment notice for a partial prepayment evidence satisfactory to the Administrative Agent and the Independent Engineer that after giving effect to such partial prepayment, there remains sufficient funds available to the Borrower under this Agreement, the Construction Equity Contribution Amount and the Contingent Equity Contribution Amount to complete the Project.
Optional and Mandatory Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing (other than Exit Loans) in whole or in part, subject to prior notice in accordance with paragraph (d) of this Section and Section 4.05. Exit Loans shall be payable as and to the extent provided in Section 3.07.
Optional and Mandatory Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay Loans in whole or in part in accordance with Section 2.08(a) (but subject to Sections 2.09(d) and 2.14), in an aggregate principal amount that is an integral multiple of $1,000,000 and not less than $1,000,000 or, if less, the amount outstanding. (b) The Borrower shall apply Net Proceeds promptly upon (and in any event within three (3) Business Days of) receipt thereof by any of the Loan Parties as follows (i) with respect to Net Proceeds from the AVSR Disposition (A) Net Proceeds in an amount up to the AVSR Sale Prepayment Amount and (B) 50% of the amount of Net Proceeds in excess of the AVSR Sale Prepayment Amount (the “AVSR Sale Additional Prepayment Amount”), if any, shall be applied to prepay Loans in accordance with Section 2.08(c) and (ii) all other Net Proceeds shall be applied to prepay Loans made to the Borrower in accordance with Section 2.08(c); provided that, any amount of Net Proceeds from the AVSR Disposition, in excess of the AVSR Sale Prepayment Amount and, if applicable, any AVSR Sale Additional Prepayment Amount (“Excess Project Disposition Proceeds”) shall not be subject to this Section 2.09(b) and may be deposited in the Equity Proceeds Account and transferred in accordance with Section 2.19(g). (c) On the date that is five (5) Business Days after the Quarterly Date occurring in May of each year (the “ECF Sweep Date”), the Borrower shall apply all amounts on deposit in the ECF Prepayment Account (after giving effect to transfers of Excess Cash Flow pursuant to Section 2.19(c)(vii) on such Quarterly Date) to prepay the Loans in accordance with Section 2.08(c), in each case as calculated and certified by the Borrower pursuant to Section 5.04(e). (d) In the event that a Repricing Event is consummated in connection with all or any portion of the Loans on or prior to the period ending six months from the Closing Date, the Borrower shall pay to
Optional and Mandatory Prepayment of Loans. OPTIONAL AND MANDATORY REDUCTION OF REVOLVING LOAN COMMITMENT AMOUNT. (a) Provided that no Event of Default has occurred and is continuing, the Borrowers shall have the right upon the provision of sixty (60) days' prior written notice to the Agent, which notice, once given, shall be irrevocable, on any Payment Date with respect to any Base Rate Term Loans and on the last day of the applicable Interest Period with respect to any LIBOR Term Loans, to prepay the outstanding principal of the Base Rate Term Loans in a minimum principal amount of $1,000,000 and increments of $250,000 in excess thereof, or the outstanding principal of the LIBOR Term Loans in a minimum principal amount of $5,000,000 and increments of $1,000,000 in excess thereof, together in each case with accrued interest thereon and the aggregate Prepayment Premium applicable thereto. The amount of principal so prepaid shall be applied to the remaining principal payments of the type of Loans prepaid (i.e. Base Rate Term Loans or LIBOR Term Loans) in the inverse order of maturity.
Optional and Mandatory Prepayment of Loans. Optional ---------------------------------------------------- and Mandatory Reduction of Commitment Amount. --------------------------------------------
Optional and Mandatory Prepayment of Loans. OPTIONAL AND MANDATORY REDUCTION OF REVOLVING LOAN COMMITMENT AMOUNT.
Optional and Mandatory Prepayment of Loans
