Common use of Optional Payments Clause in Contracts

Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Floating Rate Advances, provided that the Borrower may not so prepay Floating Rate Advances consisting of Term Loans unless it shall have provided to the Agent of such prepayment at least one Business Day prior to the making thereof. Eurodollar Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 3.4, provided, that the Borrower may not so prepay Eurodollar Rate Advances unless it shall have provided at least three Business Days' written notice to the Agent of such prepayment. Unless the aggregate outstanding principal balance thereof is being paid in full, repayments or prepayments of Floating Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess thereof. Unless the aggregate outstanding principal balance thereof is being paid in full, prepayments of Eurodollar Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 in excess thereof. Each voluntary prepayment of the Term Loans shall be applied pro rata to the unpaid installments of the Term Loans, on a ratable basis based on the respective amounts of such installments.

Appears in 2 contracts

Samples: Credit Agreement (Gfsi Inc), Credit Agreement (Gfsi Inc)

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Optional Payments. The Borrower may from time to time and at any time repay or prepay, without penalty or premium all or any part of outstanding Floating Rate Advances; PROVIDED, provided that the Borrower may not so prepay Floating Rate Advances consisting of Term Loans unless it shall have provided at least one Business Day's written notice to the Agent of such prepayment. Any optional prepayment at least one Business Day prior of the Term Loans must be applied either (i) ratably to the making thereofTranche A Term Loans and the Tranche B Term Loans or (ii) entirely to the Tranche B Term Loans. Eurodollar Eurocurrency Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 3.4SECTION 4.4, providedPROVIDED, that the Borrower may not so prepay Eurodollar Eurocurrency Rate Advances unless it shall have provided at least three five Business Days' written notice to the Agent of such prepayment. Unless the aggregate outstanding principal balance thereof of the Term Loans is being paid to be prepaid in full, repayments or voluntary prepayments of Floating Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) Term Loans shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess thereof. Unless the aggregate outstanding principal balance thereof is being paid in fullof that amount, prepayments of Eurodollar Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 in excess thereof. Each voluntary prepayment of the Term Loans shall be applied pro rata to the unpaid installments each of the Term Loansthen remaining installments payable thereunder, on a ratable basis based on in the respective amounts inverse order of such installmentsmaturity; PROVIDED, that optional prepayments of Eurocurrency Rate Advances made pursuant to SECTION 2.2 shall be for the entire amount of the outstanding Eurocurrency Rate Advance.

Appears in 1 contract

Samples: Credit Agreement (Ifr Systems Inc)

Optional Payments. The Borrower Borrowers may from time to time repay or ----------------- prepay, without penalty or premium all or any part of outstanding Floating Rate Advances, provided that the Borrower Borrowers may not so prepay Floating Rate Advances -------- consisting of Term Loans unless it any Borrower shall have provided to the Agent notice of such prepayment at least one Business Day prior to the making thereof. Eurodollar Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 3.4, provided, that the Borrower Borrowers may not so prepay ----------- -------- Eurodollar Rate Advances unless it any Borrower shall have provided at least three Business Days' written notice to the Agent of such prepayment. Unless the aggregate outstanding principal balance thereof is being paid in full, repayments or prepayments of Floating Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section ------- 2.6) shall be in an aggregate minimum amount of $500,000 100,000 and integral multiples --- of $100,000 25,000 in excess thereof. Unless the aggregate outstanding principal balance thereof is being paid in full, prepayments of Eurodollar Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of ----------- $1,000,000 100,000 and integral multiples of $100,000 50,000 in excess thereof. Each voluntary prepayment of the Term Loans shall be applied pro rata to at the unpaid installments discretion of the Term Loans, on a ratable basis based on the respective amounts of such installmentsBorrowers.

Appears in 1 contract

Samples: Credit Agreement (Pacer International Inc)

Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Floating Rate Advances; PROVIDED, provided that the Borrower may not so prepay Floating Rate Advances consisting of Term Loans unless it shall have provided to the Agent of such prepayment at least one Business Day prior Day's written notice to the making thereofAgents of such prepayment. Eurodollar Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 3.4SECTION 4.4, providedPROVIDED, that the Borrower may not so prepay Eurodollar Rate Advances unless it shall have provided at least three Business Days' written notice to the Agent Agents of such prepayment. Unless the aggregate outstanding principal balance thereof of the Term Loans is being paid to be prepaid in full, repayments or voluntary prepayments of Floating Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess thereof. Unless the aggregate outstanding principal balance thereof is being paid in full, prepayments of Eurodollar Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) Term Loans shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 500,000 in excess thereofof that amount. Each voluntary prepayment Optional prepayments of the Term Loans shall be applied pro rata to between the unpaid installments of the Tranche A Term Loans, the Tranche B Term Loans and, after the Term Loan Conversion Date, the Acquisition Facility Loans, and, in each case, applied on a ratable basis to each of the remaining installments based on upon the respective amounts of such installments.

Appears in 1 contract

Samples: Credit Agreement (Spartan Stores Inc)

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Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Floating Rate Advances; provided, provided that the Borrower may not so prepay Floating Rate Advances consisting of Term Loans unless it shall have provided to the Agent of such prepayment at least one Business Day prior Day's written notice to the making thereofAgents of such prepayment. Eurodollar Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 3.44.4, provided, that the Borrower may not so prepay Eurodollar Rate Advances unless it shall have provided at least three Business Days' written notice to the Agent Agents of such prepayment. Unless the aggregate outstanding principal balance thereof of the Term Loans is being paid to be prepaid in full, repayments or voluntary prepayments of Floating Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess thereof. Unless the aggregate outstanding principal balance thereof is being paid in full, prepayments of Eurodollar Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) Term Loans shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 500,000 in excess thereofof that amount. Each voluntary prepayment Optional prepayments of the Term Loans shall be applied pro rata to between the unpaid installments of the Tranche A Term Loans, the Tranche B Term Loans and, after the Term Loan Conversion Date, the Acquisition Facility Loans, and, in each case, applied on a ratable basis to each of the remaining installments based on upon the respective amounts of such installments.

Appears in 1 contract

Samples: Credit Agreement (Spartan Stores Inc)

Optional Payments. The Borrower may from time to time repay or prepay, without penalty or premium all or any part of outstanding Floating Rate Advances; provided, provided that (i) the Borrower may not so prepay Floating Rate Advances consisting of Term Loans or Supplemental Syndicated Loans, unless it shall have provided at least one (1) Business Day's written notice to the Agent of such prepayment at least one Business Day prior to and (ii) any intended prepayment of the making thereofTerm Loans shall be applied ratably between the Term Loans and the Supplemental Syndicated Loans and any intended prepayment of the Supplemental Syndicated Loans shall be applied ratably between the Supplemental Syndicated Loans and the Term Loans. Eurodollar Rate Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period, subject to the indemnification provisions contained in Section 3.44.4, provided, that the Borrower may not so prepay Eurodollar Rate Advances unless it shall have provided at least three two (2) Business Days' written notice to the Agent of such prepayment. Unless the aggregate outstanding principal balance thereof of the Term Loans or the Supplemental Syndicated Loans is being paid to be prepaid in full, repayments or voluntary prepayments of Floating Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) shall be in an aggregate minimum amount of $500,000 Term Loans and integral multiples of $100,000 in excess thereof. Unless the aggregate outstanding principal balance thereof is being paid in full, prepayments of Eurodollar Rate Advances (including as a result of any reduction of the Aggregate Revolving Loan Commitment pursuant to Section 2.6) Supplemental Syndicated Loans shall be in an aggregate minimum amount of $1,000,000 and integral multiples of $100,000 1,000,000 in excess thereof. Each voluntary prepayment of the Term Loans that amount, and shall be applied pro rata to the unpaid installments each of the Term Loans, on a ratable basis based on then remaining installments payable thereunder in the respective amounts inverse order of such installmentsmaturity.

Appears in 1 contract

Samples: Pledge Agreement (CTS Corp)

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