Optional Prepayments and Reductions Clause Samples
Optional Prepayments and Reductions. (a) PREPAYMENT OF ADVANCES UNDER THE REVOLVING LOAN COMMITMENT. The principal amount of any Base Rate Advance under the Revolving Loan Commitment may be prepaid in full or in part at any time, without penalty, upon prior written notice prior to 11:00 a.m. (New York time) to the Administrative Agent on the date of such prepayment, and the principal amount of any Eurodollar Advance under the Revolving Loan Commitment may be prepaid prior to the applicable Payment Date, upon telephonic notice to the Administrative Agent (promptly confirmed in writing) prior to 11:00 a.m. (New York time) on the date three (3) Business Days prior thereto, provided that the Borrowers shall, jointly and severally, reimburse the Lenders and the other Credit Parties, on the earlier of demand or the Maturity Date, for any loss or out-of-pocket expense incurred by the Lenders or the other Credit Parties in connection with such prepayment as set forth in Section 2.11 hereof. Each notice of prepayment shall be irrevocable. Partial prepayments shall be in a principal amount of not less than $500,000 or an integral multiple of $100,000 in excess thereof. Upon receipt of any notice of prepayment, the Administrative Agent shall promptly notify each Lender of the contents thereof by telephone or telecopy and of such Lender's portion of the prepayment.
Optional Prepayments and Reductions. 40 Section 2.7
Optional Prepayments and Reductions. The Borrower may from time to time, upon one Business Day's written notice to the Agent, without penalty or premium, repay all outstanding Floating Rate Advances, or, prepay a portion of the outstanding Floating Rate Advances in a minimum aggregate amount of $1,000,000 or any integral multiple of $500,000 in excess thereof. The Borrower may from time to time pay, subject to the payment of any funding indemnification amounts required by Section 3.4, but without further penalty or premium, all outstanding Eurodollar Advances, or, in a minimum aggregate amount of $1,000,000 or any integral multiple of $500,000 in excess thereof, any portion (or the full outstanding balance of all Eurodollar Advances, if less than such minimum) of the outstanding Eurodollar Advances upon three Business Days' prior notice to the Agent. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably among the Lenders in integral multiples of $5,000,000, upon at least three Business Days' written notice to the Agent, which notice shall specify the amount of any such reduction, provided, however, that the amount of the Aggregate Commitment may not be reduced below the aggregate principal amount of the outstanding Loans.
Optional Prepayments and Reductions