Common use of Optional Changes in Facility Amount; Prepayments Clause in Contracts

Optional Changes in Facility Amount; Prepayments. (a) The Borrower shall be entitled at its option, at any time prior to the occurrence of a Termination Event, to terminate in whole or reduce in part the portion of the Facility Amount that exceeds the sum of the Advances Outstanding, accrued Interest, Breakage Costs and Hedge Breakage Costs; provided, that, the Borrower shall give prior written notice in the form of Exhibit A-2 of such reduction to the Agent as provided in Section 2.3(b) and that any partial reduction of the Facility Amount shall be in an amount equal to $1,000,000 or integral multiples thereof to a minimum of $100,000. Any request for a reduction or termination pursuant to this Section 2.3(a) shall be irrevocable.

Appears in 2 contracts

Samples: Loan Funding and Servicing Agreement (Patriot Capital Funding, Inc.), Loan Funding and Servicing Agreement (Patriot Capital Funding, Inc.)

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Optional Changes in Facility Amount; Prepayments. (a) The Borrower shall be entitled at its option, at any time prior to the occurrence of a Termination Event, to terminate in whole or reduce in part the portion of the Facility Amount that exceeds the sum of the Advances Outstanding, accrued Interest, Breakage Costs and Hedge Breakage Costs; provided, that, the Borrower shall give prior written notice in the form of Exhibit A-2 of such reduction to the Agent as provided in Section 2.3(bsubsection 2.4(b) and that any partial reduction of the Facility Amount shall be in an amount equal to $1,000,000 or integral multiples thereof to a minimum of $100,000. Any request for a reduction or termination pursuant to this Section 2.3(asubsection 2.4(a) shall be irrevocable.

Appears in 1 contract

Samples: Funding and Servicing Agreement (American Capital Strategies LTD)

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Optional Changes in Facility Amount; Prepayments. (a) The Borrower shall be entitled at its option, at any time prior to the occurrence of a Termination Event, to terminate in whole or reduce in part the portion of the Facility Amount that exceeds the sum of the Advances Outstanding, accrued Interest, Breakage Costs and Hedge Breakage Costs; provided, that, the Borrower shall give prior written notice in the form of Exhibit A-2 of such reduction to the Deal Agent as provided in Section 2.3(bsubsection 2.4(b) and that any partial reduction of the Facility Amount shall be in an amount equal to $1,000,000 5,000,000 or integral multiples thereof to a minimum of $100,000500,000. Any request for a reduction or termination pursuant to this Section 2.3(asubsection 2.4(a) shall be irrevocable.

Appears in 1 contract

Samples: Funding and Servicing Agreement (American Capital Strategies LTD)

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