{"component": "clause", "props": {"groups": [{"size": 742, "snippet": "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).", "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-right", "type": "clause", "offset": [24, 33]}, {"key": "at-any-time", "type": "clause", "offset": [34, 45]}, {"key": "from-time-to-time", "type": "clause", "offset": [50, 67]}, {"key": "subject-to", "type": "clause", "offset": [113, 123]}, {"key": "prior-notice", "type": "definition", "offset": [124, 136]}, {"key": "in-accordance-with", "type": "definition", "offset": [137, 155]}], "samples": [{"hash": "fBBXTjoOH51", "uri": "/contracts/fBBXTjoOH51#optional-prepayments", "label": "Term Loan Credit Agreement (Sable Offshore Corp.)", "score": 37.4982872009, "published": true}, {"hash": "1Aay9WNxkHS", "uri": "/contracts/1Aay9WNxkHS#optional-prepayments", "label": "Credit Agreement (Prairie Operating Co.)", "score": 37.4407920837, "published": true}, {"hash": "jDUFw9X8QlN", "uri": "/contracts/jDUFw9X8QlN#optional-prepayments", "label": "Limited Waiver and Amendment to Senior Secured Credit Agreement (Phoenix Energy One, LLC)", "score": 37.4161529541, "published": true}], "hash": "1bb56e60e4ff970c20c86d10cab0ec5d", "id": 1}, {"size": 325, "snippet": "(i) The Borrower shall have the right at any time and from time to time (but subject to Section 2.08(d)) to prepay any Borrowing in whole or in part, subject to the requirements of this Section. Each prepayment in part under this Section 2.08 shall be in a minimum amount of $1,000,000 or a larger multiple of $100,000.", "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [4, 22]}, {"key": "the-right", "type": "clause", "offset": [28, 37]}, {"key": "at-any-time", "type": "clause", "offset": [38, 49]}, {"key": "from-time-to-time", "type": "clause", "offset": [54, 71]}, {"key": "subject-to-section", "type": "clause", "offset": [77, 95]}, {"key": "the-requirements", "type": "clause", "offset": [161, 177]}, {"key": "minimum-amount", "type": "definition", "offset": [257, 271]}], "samples": [{"hash": "8Qk3n98V2xJ", "uri": "/contracts/8Qk3n98V2xJ#optional-prepayments", "label": "Senior Secured Term Loan Credit Agreement (THL Credit, Inc.)", "score": 26.6317596436, "published": true}, {"hash": "7pJPtTmPvUn", "uri": "/contracts/7pJPtTmPvUn#optional-prepayments", "label": "Senior Secured Term Loan Credit Agreement (Medley Capital Corp)", "score": 26.5742645264, "published": true}, {"hash": "9q06PNuvoOR", "uri": "/contracts/9q06PNuvoOR#optional-prepayments", "label": "Senior Secured Term Loan Credit Agreement (Medley Capital Corp)", "score": 25.4188919067, "published": true}], "hash": "f2c3854d309d3918eacf7bf05c0d84e0", "id": 3}, {"size": 158, "snippet": "The Company shall have the right to prepay Loans in whole or in part from time to time; provided, however, that (i) each partial prepayment of any Base Rate Loan shall be in a minimum principal amount of (i) $100,000 and integral multiples of $100,000 in excess thereof, (ii) each partial prepayment of a Swingline Loan shall be in a minimum principal amount of $100,000 and integral multiples of $100,000 in excess thereof and (iii) each partial prepayment of a LIBOR Rate Loan shall be in a minimum principal amount of $100,000 and integral multiples of $100,000 in excess thereof. The Company shall notify the Agent of such prepayment by written notice in the form of Exhibit 2.6(a) (a \u201cNotice of Prepayment\u201d). The Company shall give three Business Days\u2019 irrevocable notice in the case of LIBOR Rate Loans and one Business Day\u2019s irrevocable notice in the case of Base Rate Loans, to the Agent (which shall notify the Lenders thereof as soon as practicable). Amounts prepaid under this Section shall be applied to the outstanding Loans as the Company may elect. Within the foregoing parameters, prepayments under this Section 2.6(a) shall be applied first to Base Rate Loans and then to LIBOR Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.6(a) shall be subject to Section 2.15, but otherwise without premium or penalty. Interest on the principal amount prepaid shall be payable on the next occurring Interest Payment Date that would have occurred had such Loan not been prepaid or, at the request of the Agent, interest on the principal amount prepaid shall be payable on any date that a prepayment is made hereunder through the date of prepayment. Amounts prepaid on the Loans may be reborrowed in accordance with the terms hereof.", "snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [0, 17]}, {"key": "right-to-prepay", "type": "clause", "offset": [27, 42]}, {"key": "from-time-to-time", "type": "clause", "offset": [69, 86]}, {"key": "partial-prepayment", "type": "definition", "offset": [121, 139]}, {"key": "loan-shall", "type": "definition", "offset": [157, 167]}, {"key": "minimum-principal-amount", "type": "definition", "offset": [176, 200]}, {"key": "integral-multiples", "type": "definition", "offset": [221, 239]}, {"key": "swingline-loan", "type": "definition", "offset": [305, 319]}, {"key": "the-agent", "type": "clause", "offset": [609, 618]}, {"key": "by-written-notice", "type": "clause", "offset": [638, 655]}, {"key": "form-of", "type": "definition", "offset": [663, 670]}, {"key": "notice-of-prepayment", "type": "definition", "offset": [690, 710]}, {"key": "business-days", "type": "clause", "offset": [743, 756]}, {"key": "irrevocable-notice", "type": "definition", "offset": [758, 776]}, {"key": "in-the-case", "type": "clause", "offset": [777, 788]}, {"key": "libor-rate-loans", "type": "definition", "offset": [792, 808]}, {"key": "base-rate-loans", "type": "clause", "offset": [866, 881]}, {"key": "the-lenders", "type": "clause", "offset": [916, 927]}, {"key": "as-soon-as-practicable", "type": "definition", "offset": [936, 958]}, {"key": "amounts-prepaid", "type": "clause", "offset": [961, 976]}, {"key": "outstanding-loans", "type": "definition", "offset": [1020, 1037]}, {"key": "the-foregoing", "type": "definition", "offset": [1071, 1084]}, {"key": "order-of", "type": "clause", "offset": [1216, 1224]}, {"key": "interest-period", "type": "definition", "offset": [1225, 1240]}, {"key": "all-prepayments", "type": "clause", "offset": [1253, 1268]}, {"key": "subject-to-section", "type": "clause", "offset": [1304, 1322]}, {"key": "the-principal-amount", "type": "definition", "offset": [1383, 1403]}, {"key": "interest-payment-date", "type": "clause", "offset": [1451, 1472]}, {"key": "the-request", "type": "clause", "offset": [1536, 1547]}, {"key": "date-of", "type": "clause", "offset": [1680, 1687]}, {"key": "the-loans", "type": "clause", "offset": [1719, 1728]}, {"key": "in-accordance-with", "type": "definition", "offset": [1747, 1765]}, {"key": "the-terms", "type": "definition", "offset": [1766, 1775]}], "samples": [{"hash": "gsurjz1sH5F", "uri": "/contracts/gsurjz1sH5F#optional-prepayments", "label": "Credit Agreement (Universal Health Realty Income Trust)", "score": 29.238193512, "published": true}, {"hash": "6t8ZTVmJsHV", "uri": "/contracts/6t8ZTVmJsHV#optional-prepayments", "label": "Credit Agreement (Universal Health Realty Income Trust)", "score": 26.2429847717, "published": true}], "hash": "4c92fba505b32f34eefe37402d95ea25", "id": 8}, {"size": 279, "snippet": "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, by giving written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent no later than (i) in the case of any prepayment of any Eurodollar Borrowing, 1:00 p.m. not less than three (3) Business Days prior to the date of such prepayment, (ii) in the case of any prepayment of any Base Rate Borrowing, 1:00 p.m. not less than one (1) Business Day prior to the date of such prepayment, and (iii) in the case of any prepayment of any Swingline Borrowing, prior to 1:00 p.m. on the date of such prepayment. Each such notice shall be irrevocable (provided that (x) any such notice in connection with the repayment of all Loans may be conditioned on the occurrence of another financing or transaction, in which case such notice may be revoked if such financing or transaction does not occur on a timely basis and (y) the Borrower shall pay all amounts required to be paid pursuant to Section 2.19 as a result of such revocation) and shall specify the proposed date of such prepayment and the principal amount of each Borrowing or portion thereof to be prepaid. Upon receipt of any such notice, the Administrative Agent shall promptly notify each affected Lender of the contents thereof and of such Lender\u2019s Pro Rata Share of any such prepayment. If such notice is given, the aggregate amount specified in such notice shall be due and payable on the date designated in such notice (unless revoked as provided above), together with accrued interest to such date on the amount so prepaid in accordance with Section 2.13(d); provided that if a Eurodollar Borrowing is prepaid on a date other than the last day of an Interest Period applicable thereto, the Borrower shall also pay all amounts required pursuant to Section 2.19. Each partial prepayment of (i) each Eurodollar Borrowing shall not be less than $5,000,000 or a larger multiple of $250,000, (ii) each Base Rate Borrowing (other than a Base Rate Borrowing of Swingline Loans) shall not be less than $1,000,000 or a larger multiple of $100,000 and (iii) each Base Rate Borrowing of Swingline Loans shall not be less than $100,000 or a larger multiple of $50,000. Each prepayment of a Borrowing shall be applied ratably to the Loans comprising such Borrowing and, in the case of a prepayment of a Term Loan Borrowing, to principal installments in the manner directed by the Borrower.", "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [0, 18]}, {"key": "the-right", "type": "clause", "offset": [24, 33]}, {"key": "at-any-time", "type": "clause", "offset": [34, 45]}, {"key": "from-time-to-time", "type": "clause", "offset": [50, 67]}, {"key": "written-notice", "type": "clause", "offset": [152, 166]}, {"key": "telephonic-notice", "type": "clause", "offset": [171, 188]}, {"key": "confirmed-in-writing", "type": "definition", "offset": [198, 218]}, {"key": "the-administrative-agent", "type": "definition", "offset": [223, 247]}, {"key": "in-the-case", "type": "clause", "offset": [266, 277]}, {"key": "eurodollar-borrowing", "type": "definition", "offset": [303, 323]}, {"key": "prior-to-the", "type": "clause", "offset": [373, 385]}, {"key": "date-of", "type": "clause", "offset": [386, 393]}, {"key": "base-rate-borrowing", "type": "definition", "offset": [453, 472]}, {"key": "swingline-borrowing", "type": "definition", "offset": [604, 623]}, {"key": "provided-that", "type": "clause", "offset": [715, 728]}, {"key": "in-connection-with", "type": "clause", "offset": [749, 767]}, {"key": "repayment-of", "type": "clause", "offset": [772, 784]}, {"key": "all-loans", "type": "clause", "offset": [785, 794]}, {"key": "be-conditioned", "type": "clause", "offset": [799, 813]}, {"key": "pursuant-to-section", "type": "definition", "offset": [1039, 1058]}, {"key": "proposed-date", "type": "definition", "offset": [1118, 1131]}, {"key": "amount-of-each-borrowing", "type": "clause", "offset": [1169, 1193]}, {"key": "upon-receipt-of", "type": "definition", "offset": [1228, 1243]}, {"key": "agent-shall", "type": "definition", "offset": [1280, 1291]}, {"key": "promptly-notify", "type": "definition", "offset": [1292, 1307]}, {"key": "affected-lender", "type": "clause", "offset": [1313, 1328]}, {"key": "pro-rata-share", "type": "definition", "offset": [1374, 1388]}, {"key": "aggregate-amount", "type": "definition", "offset": [1442, 1458]}, {"key": "due-and-payable", "type": "definition", "offset": [1493, 1508]}, {"key": "accrued-interest", "type": "definition", "offset": [1597, 1613]}, {"key": "in-accordance-with", "type": "definition", "offset": [1652, 1670]}, {"key": "day-of", "type": "clause", "offset": [1769, 1775]}, {"key": "interest-period-applicable-thereto", "type": "clause", "offset": [1779, 1813]}, {"key": "partial-prepayment", "type": "definition", "offset": [1895, 1913]}, {"key": "borrowing-of-swingline-loans", "type": "clause", "offset": [2069, 2097]}, {"key": "loans-shall", "type": "definition", "offset": [2214, 2225]}, {"key": "a-borrowing", "type": "definition", "offset": [2304, 2315]}, {"key": "the-loans", "type": "clause", "offset": [2344, 2353]}, {"key": "term-loan-borrowing", "type": "definition", "offset": [2418, 2437]}, {"key": "principal-installments", "type": "definition", "offset": [2442, 2464]}, {"key": "by-the-borrower", "type": "clause", "offset": [2488, 2503]}], "samples": [{"hash": "1k55IFQG4vp", "uri": "/contracts/1k55IFQG4vp#optional-prepayments", "label": "Credit Agreement (Pennant Group, Inc.)", "score": 30.7522239685, "published": true}, {"hash": "9dbelLjJ8Bj", "uri": "/contracts/9dbelLjJ8Bj#optional-prepayments", "label": "Credit Agreement (Ensign Group, Inc)", "score": 30.7467479706, "published": true}, {"hash": "lQZd0THSxcn", "uri": "/contracts/lQZd0THSxcn#optional-prepayments", "label": "Credit Agreement (Pennant Group, Inc.)", "score": 30.6290206909, "published": true}], "hash": "7e3be2192aed40c0d296274b6b08e52e", "id": 4}, {"size": 230, "snippet": "Section 2.12.", "snippet_links": [], "samples": [{"hash": "lPR8BEF7BGO", "uri": "/contracts/lPR8BEF7BGO#optional-prepayments", "label": "Term Loan Agreement (Sila Realty Trust, Inc.)", "score": 34.9329223633, "published": true}, {"hash": "cm4VbPMPIVQ", "uri": "/contracts/cm4VbPMPIVQ#optional-prepayments", "label": "Revolving Credit Agreement (Sila Realty Trust, Inc.)", "score": 34.9329223633, "published": true}, {"hash": "6t86Vm4RlYK", "uri": "/contracts/6t86Vm4RlYK#optional-prepayments", "label": "Term Loan Agreement (Sila Realty Trust, Inc.)", "score": 34.9329223633, "published": true}], "hash": "47636acf4da1bdf82ae5481cba6a0b54", "id": 5}, {"size": 173, "snippet": "The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Designated Agent no later than 12:00 Noon, New York City time, three Business Days prior thereto, in the case of Term Benchmark Loans, and no later than 2:00 p.m., New York City time, one Business Day prior thereto, in the case of ABR Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Term Benchmark Loans or ABR Loans; provided, that if a Term Benchmark Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.17. Upon receipt of any such notice the Designated Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans which shall be in an aggregate principal amount of $1,000,000 or a whole multiple of $500,000 in excess thereof. Notwithstanding the foregoing, any notice of prepayment delivered in connection with any refinancing of all of the Loans and Commitments with the proceeds of such refinancing or of any other incurrence of Indebtedness or the occurrence of some other identifiable event or condition, may be, if expressly so stated to be, contingent upon the consummation of such refinancing or incurrence or occurrence of such other identifiable event or condition and may be revoked by the Borrower, subject to compliance with the obligations under Section 2.17 in connection with any such revocation, in the event such contingency is not met.", "snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [17, 28]}, {"key": "from-time-to-time", "type": "clause", "offset": [33, 50]}, {"key": "irrevocable-notice", "type": "definition", "offset": [123, 141]}, {"key": "the-designated-agent", "type": "clause", "offset": [155, 175]}, {"key": "new-york-city-time", "type": "clause", "offset": [202, 220]}, {"key": "days-prior", "type": "definition", "offset": [237, 247]}, {"key": "in-the-case", "type": "clause", "offset": [257, 268]}, {"key": "term-benchmark-loans", "type": "clause", "offset": [272, 292]}, {"key": "abr-loans", "type": "definition", "offset": [390, 399]}, {"key": "amount-of-prepayment", "type": "clause", "offset": [441, 461]}, {"key": "day-of", "type": "clause", "offset": [612, 618]}, {"key": "interest-period-applicable-thereto", "type": "clause", "offset": [623, 657]}, {"key": "the-borrower-shall", "type": "clause", "offset": [659, 677]}, {"key": "amounts-owing", "type": "definition", "offset": [691, 704]}, {"key": "section-217", "type": "definition", "offset": [717, 729]}, {"key": "upon-receipt-of", "type": "definition", "offset": [731, 746]}, {"key": "agent-shall", "type": "definition", "offset": [778, 789]}, {"key": "promptly-notify", "type": "definition", "offset": [790, 805]}, {"key": "relevant-lender", "type": "definition", "offset": [811, 826]}, {"key": "due-and-payable", "type": "definition", "offset": [910, 925]}, {"key": "accrued-interest", "type": "definition", "offset": [971, 987]}, {"key": "prepayments-of-revolving-loans", "type": "clause", "offset": [1032, 1062]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [1084, 1110]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1176, 1205]}, {"key": "notice-of-prepayment", "type": "definition", "offset": [1211, 1231]}, {"key": "in-connection-with", "type": "clause", "offset": [1242, 1260]}, {"key": "the-loans-and-commitments", "type": "clause", "offset": [1287, 1312]}, {"key": "incurrence-of-indebtedness", "type": "clause", "offset": [1367, 1393]}, {"key": "consummation-of", "type": "clause", "offset": [1517, 1532]}, {"key": "by-the-borrower", "type": "clause", "offset": [1643, 1658]}, {"key": "the-obligations", "type": "clause", "offset": [1687, 1702]}, {"key": "in-the-event", "type": "clause", "offset": [1762, 1774]}, {"key": "not-met", "type": "definition", "offset": [1795, 1802]}], "samples": [{"hash": "2MYXZtGcJbZ", "uri": "/contracts/2MYXZtGcJbZ#optional-prepayments", "label": "Credit Agreement (PACIFIC GAS & ELECTRIC Co)", "score": 37.4736480713, "published": true}, {"hash": "eOcs3UGRSYt", "uri": "/contracts/eOcs3UGRSYt#optional-prepayments", "label": "Credit Agreement (PACIFIC GAS & ELECTRIC Co)", "score": 36.4770698547, "published": true}, {"hash": "3SnvzC5FzB2", "uri": "/contracts/3SnvzC5FzB2#optional-prepayments", "label": "Credit Agreement (PACIFIC GAS & ELECTRIC Co)", "score": 35.8501014709, "published": true}], "hash": "53f7bff9d8ad0361136b55090cd2b458", "id": 6}, {"size": 149, "snippet": "(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing, in whole or in part, upon at least three Business Days\u2019 prior written or fax notice (or telephonic notice promptly confirmed by written notice) in the case of Eurocurrency Loans, or written or fax notice (or telephonic notice promptly confirmed by written notice) at least one Business Day prior to the date of prepayment in the case of ABR Loans, to the Administrative Agent before 12:00 (noon), Local Time; provided, however, that (i) each partial prepayment of Loans denominated in Dollars shall be in an amount that is an integral multiple of $100,000 and not less than $500,000 and (ii) each partial prepayment of Loans denominated in Euros shall be in an amount that is an integral multiple of \u20ac100,000 and not less than \u20ac500,000.\n(b) Optional prepayments of outstanding Term Loans under this Agreement shall be allocated between Euro Term Loans and all other Term Loans as directed by Polypore (with any amount allocated to such other Term Loans being applied ratably thereto), and shall be applied to the installments thereof as directed by Polypore.\n(c) Each notice of prepayment shall specify the prepayment date and the principal amount and currency denomination of each Borrowing (or portion thereof) to be prepaid, shall be irrevocable and shall commit the Borrower to prepay such Borrowing by the amount stated therein on the date stated therein. All prepayments under this Section 2.12 shall be subject to Section 2.15 but otherwise without premium or penalty. All prepayments under this Section 2.12 shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment; provided, however, that in the case of a prepayment of an ABR Revolving Loan or a Swingline Loan that is not made in connection with a termination of the Revolving Credit Commitments, the accrued and unpaid interest on the principal amount prepaid shall be payable on the next scheduled Interest Payment Date with respect to such ABR Revolving Loan or Swingline Loan.", "snippet_links": [{"key": "the-borrower-shall", "type": "clause", "offset": [4, 22]}, {"key": "the-right", "type": "clause", "offset": [28, 37]}, {"key": "at-any-time", "type": "clause", "offset": [38, 49]}, {"key": "from-time-to-time", "type": "clause", "offset": [54, 71]}, {"key": "business-days", "type": "clause", "offset": [138, 151]}, {"key": "telephonic-notice", "type": "clause", "offset": [185, 202]}, {"key": "by-written-notice", "type": "clause", "offset": [222, 239]}, {"key": "in-the-case", "type": "clause", "offset": [241, 252]}, {"key": "eurocurrency-loans", "type": "definition", "offset": [256, 274]}, {"key": "prior-to-the", "type": "clause", "offset": [387, 399]}, {"key": "abr-loans", "type": "definition", "offset": [434, 443]}, {"key": "the-administrative-agent", "type": "definition", "offset": [448, 472]}, {"key": "local-time", "type": "definition", "offset": [494, 504]}, {"key": "loans-denominated-in-dollars", "type": "clause", "offset": [561, 589]}, {"key": "integral-multiple", "type": "definition", "offset": [623, 640]}, {"key": "prepayments-of", "type": "clause", "offset": [847, 861]}, {"key": "outstanding-term-loans", "type": "clause", "offset": [862, 884]}, {"key": "this-agreement", "type": "clause", "offset": [891, 905]}, {"key": "euro-term-loans", "type": "clause", "offset": [933, 948]}, {"key": "other-term-loans", "type": "definition", "offset": [957, 973]}, {"key": "as-directed", "type": "clause", "offset": [974, 985]}, {"key": "allocated-to", "type": "definition", "offset": [1015, 1027]}, {"key": "notice-of-prepayment", "type": "definition", "offset": [1165, 1185]}, {"key": "prepayment-date", "type": "clause", "offset": [1204, 1219]}, {"key": "currency-denomination", "type": "clause", "offset": [1249, 1270]}, {"key": "each-borrowing", "type": "clause", "offset": [1274, 1288]}, {"key": "all-prepayments", "type": "clause", "offset": [1458, 1473]}, {"key": "subject-to-section", "type": "clause", "offset": [1507, 1525]}, {"key": "interest-on-the-principal", "type": "definition", "offset": [1656, 1681]}, {"key": "but-excluding", "type": "clause", "offset": [1706, 1719]}, {"key": "date-of-payment", "type": "definition", "offset": [1724, 1739]}, {"key": "abr-revolving-loan", "type": "definition", "offset": [1799, 1817]}, {"key": "swingline-loan", "type": "definition", "offset": [1823, 1837]}, {"key": "in-connection-with", "type": "clause", "offset": [1855, 1873]}, {"key": "termination-of-the-revolving-credit-commitments", "type": "clause", "offset": [1876, 1923]}, {"key": "the-accrued", "type": "clause", "offset": [1925, 1936]}, {"key": "scheduled-interest-payment-date", "type": "definition", "offset": [2018, 2049]}, {"key": "with-respect-to", "type": "clause", "offset": [2050, 2065]}], "samples": [{"hash": "6Z4nXoYaCFo", "uri": "/contracts/6Z4nXoYaCFo#optional-prepayments", "label": "Credit Agreement (Polypore, Inc.)", "score": 21.0, "published": true}], "hash": "f7b2382e06446d9f074711c83f801b15", "id": 10}, {"size": 629, "snippet": "The Borrower and any relevant Subsidiary Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice (except as otherwise provided below) delivered to the Administrative Agent no later than 12:00 Noon, New York City time, three Business Days prior thereto, in the case of Eurocurrency Loans, and no later than 12:00 Noon, New York City time, on the day of such prepayment, in the case of ABR Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Eurocurrency Loans or ABR Loans; provided, that if a Eurocurrency Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower or relevant Subsidiary Borrower shall also pay any amounts owing pursuant to Section 2.20; provided, further, that such notice to prepay the Loans delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or a Change in Control, in either case, which such notice may be revoked by the Borrower (by further notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Notwithstanding the foregoing, the revocation of a termination notice shall not affect the Borrower\u2019s obligation to indemnify any Lender in accordance with Section 2.20 for any loss or expense sustained or incurred as a consequence thereof. Upon receipt of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the case of Revolving Loans that are ABR Loans and Swingline Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Term Loans and Revolving Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof. Partial prepayments of Swingline Loans shall be in an aggregate principal amount of $100,000 or a whole multiple thereof.", "snippet_links": [{"key": "subsidiary-borrower", "type": "clause", "offset": [30, 49]}, {"key": "at-any-time", "type": "clause", "offset": [54, 65]}, {"key": "from-time-to-time", "type": "clause", "offset": [70, 87]}, {"key": "the-loans", "type": "clause", "offset": [95, 104]}, {"key": "irrevocable-notice", "type": "definition", "offset": [160, 178]}, {"key": "except-as-otherwise-provided", "type": "clause", "offset": [180, 208]}, {"key": "new-york-city-time", "type": "clause", "offset": [280, 298]}, {"key": "days-prior", "type": "definition", "offset": [315, 325]}, {"key": "in-the-case", "type": "clause", "offset": [335, 346]}, {"key": "eurocurrency-loans", "type": "definition", "offset": [350, 368]}, {"key": "day-of", "type": "clause", "offset": [427, 433]}, {"key": "abr-loans", "type": "definition", "offset": [466, 475]}, {"key": "amount-of-prepayment", "type": "clause", "offset": [517, 537]}, {"key": "last-day", "type": "clause", "offset": [679, 687]}, {"key": "interest-period-applicable-thereto", "type": "clause", "offset": [695, 729]}, {"key": "borrower-shall", "type": "clause", "offset": [767, 781]}, {"key": "amounts-owing", "type": "definition", "offset": [795, 808]}, {"key": "pursuant-to-section", "type": "definition", "offset": [809, 828]}, {"key": "by-the-borrower", "type": "clause", "offset": [901, 916]}, {"key": "other-credit-facilities", "type": "clause", "offset": [985, 1008]}, {"key": "a-change-in-control", "type": "definition", "offset": [1012, 1031]}, {"key": "notice-to-the-administrative-agent", "type": "clause", "offset": [1110, 1144]}, {"key": "prior-to-the", "type": "clause", "offset": [1151, 1163]}, {"key": "effective-date", "type": "clause", "offset": [1174, 1188]}, {"key": "notwithstanding-the-foregoing", "type": "clause", "offset": [1226, 1255]}, {"key": "a-termination-notice", "type": "definition", "offset": [1275, 1295]}, {"key": "obligation-to-indemnify", "type": "clause", "offset": [1328, 1351]}, {"key": "in-accordance-with", "type": "definition", "offset": [1363, 1381]}, {"key": "loss-or-expense", "type": "clause", "offset": [1403, 1418]}, {"key": "upon-receipt-of", "type": "definition", "offset": [1467, 1482]}, {"key": "agent-shall", "type": "definition", "offset": [1518, 1529]}, {"key": "promptly-notify", "type": "definition", "offset": [1530, 1545]}, {"key": "relevant-lender", "type": "definition", "offset": [1551, 1566]}, {"key": "due-and-payable", "type": "definition", "offset": [1650, 1665]}, {"key": "swingline-loans", "type": "definition", "offset": [1773, 1788]}, {"key": "accrued-interest", "type": "definition", "offset": [1790, 1806]}, {"key": "loans-shall", "type": "definition", "offset": [1891, 1902]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [1912, 1938]}], "samples": [{"hash": "2WsLcD3hYuz", "uri": "/contracts/2WsLcD3hYuz#optional-prepayments", "label": "Incremental Facilities Agreement (Avis Budget Group, Inc.)", "score": 22.6947288513, "published": true}, {"hash": "1aGyT2cG08Q", "uri": "/contracts/1aGyT2cG08Q#optional-prepayments", "label": "Credit Agreement (Avis Budget Group, Inc.)", "score": 22.6947288513, "published": true}, {"hash": "iDo7weAkuqM", "uri": "/contracts/iDo7weAkuqM#optional-prepayments", "label": "Credit Agreement (Avis Budget Group, Inc.)", "score": 22.3415470123, "published": true}], "hash": "125ceb02b915fbb40e4b163c0ee89687", "id": 2}, {"size": 166, "snippet": "(a) Subject in the case of any Fixed Rate Loan to Section 2.14, the Borrower may, upon at least one Business Day\u2019s notice to the Servicing Agent, prepay any Group of Loans consisting of Base Rate Loans (or any Competitive Bid Borrowing bearing interest at the Base Rate pursuant to Section 8.01(a)) or upon at least three Business Days\u2019 notice to the Servicing Agent, prepay any Group of Loans consisting of Euro-Dollar Loans, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Banks included in such Group of Loans (or Borrowing).\n(b) Except as provided in subsection (a) above, the Borrower may not prepay all or any portion of the principal amount of any Competitive Bid Loan prior to the maturity thereof.\n(c) Upon receipt of a notice of prepayment pursuant to this Section, the Servicing Agent shall promptly notify each Bank of the contents thereof and of such Bank\u2019s ratable share (if any) of such prepayment and such notice shall not thereafter be revocable by the Borrower.", "snippet_links": [{"key": "in-the-case", "type": "clause", "offset": [12, 23]}, {"key": "fixed-rate-loan", "type": "definition", "offset": [31, 46]}, {"key": "notice-to-the", "type": "clause", "offset": [115, 128]}, {"key": "servicing-agent", "type": "definition", "offset": [129, 144]}, {"key": "group-of-loans", "type": "definition", "offset": [157, 171]}, {"key": "base-rate-loans", "type": "clause", "offset": [186, 201]}, {"key": "competitive-bid-borrowing", "type": "definition", "offset": [210, 235]}, {"key": "the-base-rate", "type": "definition", "offset": [256, 269]}, {"key": "pursuant-to-section", "type": "definition", "offset": [270, 289]}, {"key": "business-days", "type": "clause", "offset": [322, 335]}, {"key": "dollar-loans", "type": "clause", "offset": [413, 425]}, {"key": "each-case", "type": "definition", "offset": [430, 439]}, {"key": "at-any-time", "type": "clause", "offset": [449, 460]}, {"key": "from-time-to-time", "type": "clause", "offset": [465, 482]}, {"key": "the-principal-amount", "type": "definition", "offset": [574, 594]}, {"key": "accrued-interest", "type": "definition", "offset": [623, 639]}, {"key": "date-of", "type": "clause", "offset": [655, 662]}, {"key": "optional-prepayment", "type": "definition", "offset": [685, 704]}, {"key": "the-loans", "type": "clause", "offset": [740, 749]}, {"key": "except-as-provided-in", "type": "clause", "offset": [823, 844]}, {"key": "competitive-bid-loan", "type": "definition", "offset": [945, 965]}, {"key": "prior-to-the", "type": "clause", "offset": [966, 978]}, {"key": "notice-of-prepayment", "type": "definition", "offset": [1019, 1039]}, {"key": "agent-shall", "type": "definition", "offset": [1080, 1091]}, {"key": "promptly-notify", "type": "definition", "offset": [1092, 1107]}, {"key": "bank-of", "type": "definition", "offset": [1113, 1120]}, {"key": "ratable-share", "type": "clause", "offset": [1161, 1174]}, {"key": "by-the-borrower", "type": "clause", "offset": [1253, 1268]}], "samples": [{"hash": "i614wzMe3Eg", "uri": "/contracts/i614wzMe3Eg#optional-prepayments", "label": "Credit Agreement (Clorox Co /De/)", "score": 30.8781661987, "published": true}, {"hash": "5oAmfX1CFHl", "uri": "/contracts/5oAmfX1CFHl#optional-prepayments", "label": "Credit Agreement (Clorox Co /De/)", "score": 28.1101989746, "published": true}, {"hash": "kg2qgBtFHGj", "uri": "/contracts/kg2qgBtFHGj#optional-prepayments", "label": "Credit Agreement (Clorox Co /De/)", "score": 25.7638607025, "published": true}], "hash": "7217f40b1ee0b4949cdc82c01faaed20", "id": 7}, {"size": 151, "snippet": "Loans may be prepaid in whole or from time to time in part at the option of the Company on any Business Day, without premium or penalty, notwithstanding that such Business Day is not an Interest Payment Date; provided that:\n(a) losses, if any, incurred by any Lender under Section 2.02(e) shall be payable with respect to each such prepayment of any Eurodollar Loan;\n(b) all partial prepayments shall be in an aggregate principal amount of at least $2,000,000 and an integral multiple of $100,000;\n(c) the Company shall give the Administrative Agent not less than one full Business Day\u2019s prior oral or written notice of each prepayment of any Eurodollar Loans, or any portion thereof, and notice to the Administrative Agent not later than 10:00 a.m. (New York, New York time) on the same day of the prepayment of Federal Funds Rate Loans or Alternate Base Rate Loans, or any portion thereof, proposed to be made pursuant to this Section 3.01, specifying the aggregate principal amount to be prepaid and the prepayment date; provided that with respect to each oral notice of a prepayment, the Company shall deliver promptly to the Administrative Agent a confirmatory written notice of such proposed prepayment; and\n(d) so long as no Event of Default is continuing, prepayments may be allocated, at the option of the Company, to (i) all outstanding Conventional Revolving Loans for payment ratably to the holders thereof and (ii) any or all outstanding Discretionary Revolving Loans. The Administrative Agent shall promptly notify the affected Lenders of the principal amount to be prepaid and the prepayment date. Notice of such prepayment shall be irrevocable and having been given as aforesaid, the principal amount specified in such notice, together with accrued and unpaid interest thereon to the date of prepayment, shall become due and payable on such prepayment date, and the provisions of Section 2.02(e) shall be applicable. The Company shall have no optional right to prepay the principal amount of any Loan (other than a Discretionary Revolving Loan) other than as provided in this Section 3.01.", "snippet_links": [{"key": "from-time-to-time", "type": "clause", "offset": [33, 50]}, {"key": "at-the-option-of-the-company", "type": "clause", "offset": [59, 87]}, {"key": "any-business", "type": "definition", "offset": [91, 103]}, {"key": "interest-payment-date", "type": "clause", "offset": [186, 207]}, {"key": "provided-that", "type": "clause", "offset": [209, 222]}, {"key": "with-respect-to", "type": "clause", "offset": [306, 321]}, {"key": "partial-prepayments", "type": "clause", "offset": [375, 394]}, {"key": "aggregate-principal-amount", "type": "clause", "offset": [410, 436]}, {"key": "integral-multiple", "type": "definition", "offset": [467, 484]}, {"key": "the-company-shall", "type": "clause", "offset": [502, 519]}, {"key": "full-business-day", "type": "definition", "offset": [568, 585]}, {"key": "written-notice", "type": "clause", "offset": [602, 616]}, {"key": "eurodollar-loans", "type": "definition", "offset": [643, 659]}, {"key": "notice-to-the-administrative-agent", "type": "clause", "offset": [689, 723]}, {"key": "new-york-time", "type": "definition", "offset": [761, 774]}, {"key": "day-of", "type": "clause", "offset": [788, 794]}, {"key": "federal-funds-rate-loans", "type": "definition", "offset": [813, 837]}, {"key": "alternate-base-rate-loans", "type": "definition", "offset": [841, 866]}, {"key": "made-pursuant-to", "type": "clause", "offset": [907, 923]}, {"key": "prepayment-date", "type": "clause", "offset": [1007, 1022]}, {"key": "notice-of-a", "type": "clause", "offset": [1064, 1075]}, {"key": "no-event-of-default", "type": "clause", "offset": [1229, 1248]}, {"key": "for-payment", "type": "clause", "offset": [1376, 1387]}, {"key": "the-holders", "type": "clause", "offset": [1399, 1410]}, {"key": "discretionary-revolving-loans", "type": "clause", "offset": [1451, 1480]}, {"key": "agent-shall", "type": "definition", "offset": [1501, 1512]}, {"key": "notify-the", "type": "clause", "offset": [1522, 1532]}, {"key": "affected-lenders", "type": "clause", "offset": [1533, 1549]}, {"key": "the-principal-amount", "type": "definition", "offset": [1553, 1573]}, {"key": "having-been", "type": "clause", "offset": [1664, 1675]}, {"key": "accrued-and-unpaid-interest", "type": "definition", "offset": [1757, 1784]}, {"key": "date-of", "type": "clause", "offset": [1800, 1807]}, {"key": "due-and-payable", "type": "definition", "offset": [1833, 1848]}, {"key": "the-provisions-of-section", "type": "clause", "offset": [1878, 1903]}, {"key": "right-to-prepay", "type": "clause", "offset": [1968, 1983]}, {"key": "any-loan", "type": "clause", "offset": [2008, 2016]}], "samples": [{"hash": "8xJeNb8Pi67", "uri": "/contracts/8xJeNb8Pi67#optional-prepayments", "label": "Credit Agreement (Cox Radio Inc)", "score": 21.0, "published": true}], "hash": "11f95b166d1e1a544f762f7fb51274e1", "id": 9}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1vcHRpb25hbC1wcmVwYXltZW50cyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["revolving-loans", "Revolving Loans"], ["term-loan", "Term Loan"], ["term-loans", "Term Loans"], ["", ""], ["optional-prepayments", "Optional Prepayments"]], "size": 13157, "title": "Optional Prepayments", "parents": [["prepayments", "Prepayments"], ["the-credits", "The Credits"], ["prepayment-of-loans", "Prepayment of Loans"], ["amount-and-terms-of-commitments", "Amount and Terms of Commitments"], ["miscellaneous", "Miscellaneous"]], "id": "optional-prepayments", "related": [["optional-prepayment", "Optional Prepayment", "Optional Prepayment"], ["optional-prepayment-of-loans", "Optional Prepayment of Loans", "Optional Prepayment of Loans"], ["optional-prepayments-of-loans", "Optional Prepayments of Loans", "<strong>Optional Prepayments</strong> of Loans"], ["optional-prepayments-of-advances", "Optional Prepayments of Advances", "<strong>Optional Prepayments</strong> of Advances"], ["all-prepayments", "All Prepayments", "All Prepayments"]], "related_snippets": [], "updated": "2026-08-13T06:00:21+00:00", "also_ask": ["What borrower protections should be included to maximize flexibility in optional prepayments?", "How can lenders structure prepayment penalties to deter early repayment without discouraging loan uptake?", "What are the most common drafting pitfalls that could render optional prepayment clauses unenforceable?", "How do optional prepayment provisions differ across major jurisdictions or loan types?", "What factors do courts consider when assessing the enforceability of optional prepayment clauses?"], "drafting_tip": "Specify conditions for optional prepayments to prevent disputes, require notice periods to allow lender preparation, and clarify any penalties to ensure transparency.", "explanation": "The Optional Prepayments clause allows a borrower to make payments on a loan before the scheduled due dates without incurring penalties. In practice, this means the borrower can reduce the outstanding principal at their discretion, either partially or in full, and may do so at any time permitted by the agreement. This clause provides flexibility for the borrower to manage debt more efficiently and can help reduce overall interest costs, addressing the need for adaptable repayment options."}, "json": true, "cursor": ""}}