{"component": "clause", "props": {"groups": [{"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": "definition", "offset": [113, 123]}, {"key": "prior-notice", "type": "definition", "offset": [124, 136]}, {"key": "in-accordance-with", "type": "clause", "offset": [137, 155]}], "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).", "samples": [{"hash": "7jfArd7JYhr", "uri": "/contracts/7jfArd7JYhr#optional-prepayments", "label": "Credit Agreement (PRESIDIO PRODUCTION Co)", "score": 37.1834373474, "published": true}, {"hash": "e06YWG8nERm", "uri": "/contracts/e06YWG8nERm#optional-prepayments", "label": "Limited Waiver and Amendment to Senior Secured Credit Agreement (Phoenix Energy One, LLC)", "score": 37.117729187, "published": true}, {"hash": "f1BNXvMblCM", "uri": "/contracts/f1BNXvMblCM#optional-prepayments", "label": "Senior Secured Credit Agreement (Phoenix Energy One, LLC)", "score": 36.8193016052, "published": true}], "size": 730, "hash": "1bb56e60e4ff970c20c86d10cab0ec5d", "id": 1}, {"snippet_links": [{"key": "notice-to-the-administrative-agent", "type": "clause", "offset": [27, 61]}, {"key": "at-any-time", "type": "clause", "offset": [63, 74]}, {"key": "from-time-to-time", "type": "clause", "offset": [78, 95]}, {"key": "term-loans-and-revolving-credit-loans", "type": "clause", "offset": [115, 152]}, {"key": "provided-that", "type": "definition", "offset": [229, 242]}, {"key": "received-by", "type": "definition", "offset": [267, 278]}, {"key": "business-days", "type": "clause", "offset": [343, 356]}, {"key": "date-of", "type": "clause", "offset": [371, 378]}, {"key": "loans-denominated-in-dollars", "type": "clause", "offset": [411, 439]}, {"key": "in-the-case", "type": "clause", "offset": [474, 485]}, {"key": "prepayment-of-loans", "type": "clause", "offset": [489, 508]}, {"key": "special-notice", "type": "definition", "offset": [524, 538]}, {"key": "alternative-currencies", "type": "clause", "offset": [625, 647]}, {"key": "base-rate-loans", "type": "clause", "offset": [686, 701]}, {"key": "loans-shall", "type": "definition", "offset": [743, 754]}, {"key": "each-case", "type": "definition", "offset": [985, 994]}, {"key": "loans-to", "type": "clause", "offset": [1153, 1161]}, {"key": "promptly-notify", "type": "clause", "offset": [1204, 1219]}, {"key": "receipt-of", "type": "clause", "offset": [1251, 1261]}, {"key": "by-the-borrower", "type": "clause", "offset": [1374, 1389]}, {"key": "the-borrower-shall", "type": "clause", "offset": [1391, 1409]}, {"key": "payment-amount", "type": "definition", "offset": [1439, 1453]}, {"key": "due-and-payable", "type": "clause", "offset": [1488, 1503]}, {"key": "loan-shall", "type": "definition", "offset": [1573, 1583]}, {"key": "accrued-interest", "type": "clause", "offset": [1606, 1622]}, {"key": "additional-amounts", "type": "definition", "offset": [1650, 1668]}, {"key": "pursuant-to-section", "type": "clause", "offset": [1678, 1697]}, {"key": "prepayment-of-the-loans", "type": "clause", "offset": [1709, 1732]}, {"key": "as-directed", "type": "definition", "offset": [1811, 1822]}, {"key": "understood-and-agreed-that", "type": "clause", "offset": [1849, 1875]}, {"key": "at-the-time", "type": "definition", "offset": [1911, 1922]}, {"key": "scheduled-repayments-of-term-loans", "type": "clause", "offset": [1988, 2022]}, {"key": "order-of", "type": "clause", "offset": [2063, 2071]}, {"key": "appropriate-lenders", "type": "definition", "offset": [2107, 2126]}, {"key": "in-accordance-with", "type": "clause", "offset": [2127, 2145]}, {"key": "pro-rata-shares", "type": "definition", "offset": [2163, 2178]}, {"key": "provisions-of-this-section", "type": "clause", "offset": [2210, 2236]}, {"key": "agreement-or", "type": "definition", "offset": [2265, 2277]}, {"key": "loan-document", "type": "clause", "offset": [2288, 2301]}, {"key": "in-the-event", "type": "clause", "offset": [2319, 2331]}, {"key": "prior-to-the", "type": "clause", "offset": [2344, 2356]}, {"key": "first-anniversary", "type": "definition", "offset": [2357, 2374]}, {"key": "the-closing-date", "type": "clause", "offset": [2378, 2394]}, {"key": "in-connection-with", "type": "clause", "offset": [2450, 2468]}, {"key": "repricing-transaction", "type": "clause", "offset": [2473, 2494]}, {"key": "pay-to", "type": "definition", "offset": [2515, 2521]}, {"key": "ratable-account", "type": "definition", "offset": [2556, 2571]}, {"key": "term-b-lenders", "type": "definition", "offset": [2598, 2612]}, {"key": "prepayment-premium", "type": "definition", "offset": [2616, 2634]}, {"key": "equal-to", "type": "definition", "offset": [2635, 2643]}, {"key": "the-term-b-loans", "type": "clause", "offset": [2664, 2680]}, {"key": "amendment-of-this-agreement", "type": "clause", "offset": [2715, 2742]}, {"key": "the-non", "type": "clause", "offset": [2868, 2875]}, {"key": "aggregate-amount", "type": "clause", "offset": [3033, 3049]}, {"key": "swing-line-lender", "type": "definition", "offset": [3210, 3227]}, {"key": "with-a-copy-to", "type": "definition", "offset": [3229, 3243]}, {"key": "swing-line-loans", "type": "definition", "offset": [3324, 3340]}, {"key": "minimum-principal-amount", "type": "definition", "offset": [3588, 3612]}, {"key": "contained-in", "type": "definition", "offset": [4036, 4048]}, {"key": "notice-of-prepayment", "type": "clause", "offset": [4094, 4114]}, {"key": "the-facilities", "type": "clause", "offset": [4205, 4219]}], "snippet": "(i) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Term Loans and Revolving Credit Loans in whole or in part without premium or penalty (except as set forth below); provided that (1) such notice must be received by the Administrative Agent not later than 1:00 p.m. (A) three (3) Business Days\u2019 prior to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (B) four Business Days (or five, in the case of prepayment of Loans denominated in Special Notice Currencies) prior to any date of prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies, and (C) on the date of prepayment of Base Rate Loans; (2) any prepayment of Eurocurrency Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof; and (3) any prepayment of Base Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $100,000 in excess thereof or, in each case, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Appropriate Lender of its receipt of each such notice, and of the amount of such Lender\u2019s Pro Rata Share of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. Each prepayment of the Loans pursuant to this Section 2.05(a) shall be applied to the installments thereof as directed by the Borrower (it being understood and agreed that if the Borrower does not so direct at the time of such prepayment, such prepayment shall be applied against the scheduled repayments of Term Loans under Section 2.07(a) and (b) in direct order of maturity) and shall be paid to the Appropriate Lenders in accordance with their respective Pro Rata Shares. Notwithstanding the foregoing provisions of this Section 2.05(a) or anything in this Agreement or any other Loan Document to the contrary, in the event that, on or prior to the first anniversary of the Closing Date, the Borrower (i) makes any prepayment of Term B Loans in connection with any Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Term B Lenders, a prepayment premium equal to 1% of the amount of the Term B Loans being prepaid or (ii) effects any amendment of this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the non-consenting Term B Lenders to such amendment whose Term B Loans are required to be assigned pursuant to Section 3.07, a prepayment premium equal to 1% of the aggregate amount of the applicable Term B Loans of such non-consenting Term B Lenders outstanding immediately prior to such amendment.\n(ii) The Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (1) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date of the prepayment, and (2) any such prepayment shall be in a minimum principal amount of $100,000 or a whole multiple of $100,000 in excess thereof or, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein.\n(iii) Notwithstanding anything to the contrary contained in this Agreement, the Borrower may rescind any notice of prepayment under Section 2.05(a) if such prepayment would have resulted from a refinancing of all of the Facilities, which refinancing shall not be consummated or shall otherwise be delayed.", "samples": [{"hash": "apbLPr5707g", "uri": "/contracts/apbLPr5707g#optional-prepayments", "label": "Credit Agreement (Corporate Executive Board Co)", "score": 24.6002731323, "published": true}, {"hash": "ge41kDK4EfE", "uri": "/contracts/ge41kDK4EfE#optional-prepayments", "label": "Credit Agreement (Corporate Executive Board Co)", "score": 23.6036968231, "published": true}, {"hash": "edIPzLvylgC", "uri": "/contracts/edIPzLvylgC#optional-prepayments", "label": "Credit Agreement (Corporate Executive Board Co)", "score": 23.6036968231, "published": true}], "size": 512, "hash": "8859a8ba7b3468e0e95120e362eb1c68", "id": 3}, {"snippet_links": [{"key": "notice-to-administrative-agent", "type": "clause", "offset": [23, 53]}, {"key": "at-any-time", "type": "clause", "offset": [55, 66]}, {"key": "from-time-to-time", "type": "clause", "offset": [70, 87]}, {"key": "revolving-loans", "type": "clause", "offset": [111, 126]}, {"key": "term-loans", "type": "definition", "offset": [130, 140]}, {"key": "provided-that", "type": "definition", "offset": [189, 202]}, {"key": "received-by", "type": "definition", "offset": [227, 238]}, {"key": "prior-to", "type": "clause", "offset": [314, 322]}, {"key": "date-of", "type": "clause", "offset": [327, 334]}, {"key": "prepayment-of-fixed-rate-loans", "type": "clause", "offset": [335, 365]}, {"key": "floating-rate-loans", "type": "definition", "offset": [430, 449]}, {"key": "each-case", "type": "definition", "offset": [457, 466]}, {"key": "in-connection-with", "type": "clause", "offset": [468, 486]}, {"key": "prepayment-of-the-loans", "type": "clause", "offset": [489, 512]}, {"key": "approved-by", "type": "clause", "offset": [559, 570]}, {"key": "in-writing", "type": "definition", "offset": [592, 602]}, {"key": "loans-shall", "type": "definition", "offset": [638, 649]}, {"key": "principal-amount", "type": "definition", "offset": [658, 674]}, {"key": "loans-to", "type": "clause", "offset": [1050, 1058]}, {"key": "eurodollar-loans", "type": "clause", "offset": [1078, 1094]}, {"key": "the-interest", "type": "definition", "offset": [1114, 1126]}, {"key": "promptly-notify", "type": "clause", "offset": [1178, 1193]}, {"key": "each-lender", "type": "clause", "offset": [1194, 1205]}, {"key": "receipt-of", "type": "clause", "offset": [1213, 1223]}, {"key": "applicable-revolving-percentage", "type": "definition", "offset": [1277, 1308]}, {"key": "applicable-term-loan-percentage", "type": "definition", "offset": [1312, 1343]}, {"key": "by-borrower", "type": "clause", "offset": [1404, 1415]}, {"key": "borrower-shall", "type": "clause", "offset": [1422, 1436]}, {"key": "payment-amount", "type": "definition", "offset": [1466, 1480]}, {"key": "due-and-payable", "type": "clause", "offset": [1515, 1530]}, {"key": "other-credit-facilities", "type": "clause", "offset": [1647, 1670]}, {"key": "other-events", "type": "clause", "offset": [1674, 1686]}, {"key": "loan-shall", "type": "definition", "offset": [1719, 1729]}, {"key": "interest-on-the", "type": "clause", "offset": [1760, 1775]}, {"key": "additional-amounts", "type": "definition", "offset": [1810, 1828]}, {"key": "pursuant-to-section", "type": "clause", "offset": [1838, 1857]}, {"key": "subject-to-section", "type": "clause", "offset": [1864, 1882]}, {"key": "the-lenders", "type": "clause", "offset": [1943, 1954]}, {"key": "in-accordance-with", "type": "clause", "offset": [1955, 1973]}, {"key": "term-loan-percentages", "type": "definition", "offset": [2038, 2059]}, {"key": "the-case", "type": "definition", "offset": [2064, 2072]}, {"key": "prepayments-of", "type": "clause", "offset": [2086, 2100]}, {"key": "swingline-loans", "type": "definition", "offset": [2101, 2116]}], "snippet": "(i) Borrower may, upon notice to Administrative Agent, at any time or from time to time voluntarily prepay any Revolving Loans or Term Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by Administrative Agent not later than 11:00 a.m. (A) three (3) Business Days prior to any date of prepayment of Fixed Rate Loans and (B) one (1) Business Day prior to any date of prepayment of Floating Rate Loans or, in each case, in connection with a prepayment of the Loans in full, upon such shorter notice as shall be approved by Administrative Agent in writing; (ii) any prepayment of Fixed Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof; and (iii) any prepayment of Floating Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $25,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Loans are to be prepaid, the Interest Period(s) of such Loans. Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender\u2019s Applicable Revolving Percentage or Applicable Term Loan Percentage, as applicable, of such prepayment. If such notice is given by Borrower, then Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, provided that such notice may state that it is conditioned upon the effectiveness of other credit facilities or other events. Any prepayment of a Eurodollar Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Subject to Section 2.18, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Revolving Percentages or Applicable Term Loan Percentages, as the case may be.\n(ii) Prepayments of Swingline Loans shall be made in accordance with Section 2.04(d).", "samples": [{"hash": "cZgLhyq41ks", "uri": "/contracts/cZgLhyq41ks#optional-prepayments", "label": "Credit Agreement (American Realty Capital Trust IV, Inc.)", "score": 24.6167011261, "published": true}, {"hash": "i1CnUewetHw", "uri": "/contracts/i1CnUewetHw#optional-prepayments", "label": "Credit Agreement (American Realty Capital Properties, Inc.)", "score": 24.1594791412, "published": true}, {"hash": "iVO053q4vog", "uri": "/contracts/iVO053q4vog#optional-prepayments", "label": "Credit Agreement (American Realty Capital Trust III, Inc.)", "score": 24.1403141022, "published": true}], "size": 194, "hash": "a786e24be697ffc1f5a5ff3beda3308f", "id": 8}, {"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-section", "type": "clause", "offset": [73, 91]}, {"key": "the-requirements", "type": "clause", "offset": [211, 227]}, {"key": "minimum-amount", "type": "clause", "offset": [310, 324]}], "snippet": "The Borrower shall have the right at any time and from time to time (but subject to Section 2.08(e)) to prepay any Borrowing in whole or in part, without premium or fee (but subject to Section 2.13), subject to the requirements of this Section. Each prepayment in part under this Section 2.08(a) shall be in a minimum amount of $1,000,000 or a larger multiple of $100,000.", "samples": [{"hash": "v8VX4bLqid", "uri": "/contracts/v8VX4bLqid#optional-prepayments", "label": "Senior Secured Revolving Credit Agreement (Capital Southwest Corp)", "score": 28.8767967224, "published": true}, {"hash": "iUYNxEcwFkJ", "uri": "/contracts/iUYNxEcwFkJ#optional-prepayments", "label": "Senior Secured Revolving Credit Agreement (Medley Capital Corp)", "score": 26.5742645264, "published": true}, {"hash": "8NPxe2XNu4n", "uri": "/contracts/8NPxe2XNu4n#optional-prepayments", "label": "Senior Secured Revolving Credit Agreement (Capital Southwest Corp)", "score": 25.6694049835, "published": true}], "size": 384, "hash": "36c71fe2f65e8bc6e17b89139561fad9", "id": 4}, {"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": [164, 178]}, {"key": "telephonic-notice", "type": "clause", "offset": [183, 200]}, {"key": "confirmed-in-writing", "type": "definition", "offset": [210, 230]}, {"key": "the-administrative-agent", "type": "definition", "offset": [235, 259]}, {"key": "eurodollar-borrowing", "type": "definition", "offset": [323, 343]}, {"key": "prior-to", "type": "clause", "offset": [383, 391]}, {"key": "base-rate-borrowing", "type": "clause", "offset": [455, 474]}, {"key": "the-business", "type": "clause", "offset": [479, 491]}, {"key": "day-of", "type": "clause", "offset": [492, 498]}, {"key": "swingline-borrowings", "type": "definition", "offset": [541, 561]}, {"key": "date-of", "type": "clause", "offset": [570, 577]}, {"key": "proposed-date", "type": "definition", "offset": [655, 668]}, {"key": "amount-of-each-borrowing", "type": "clause", "offset": [706, 730]}, {"key": "upon-receipt-of", "type": "definition", "offset": [765, 780]}, {"key": "agent-shall", "type": "definition", "offset": [817, 828]}, {"key": "promptly-notify", "type": "clause", "offset": [829, 844]}, {"key": "affected-lender", "type": "clause", "offset": [850, 865]}, {"key": "pro-rata-share", "type": "clause", "offset": [911, 925]}, {"key": "aggregate-amount", "type": "clause", "offset": [979, 995]}, {"key": "due-and-payable", "type": "clause", "offset": [1030, 1045]}, {"key": "accrued-interest", "type": "clause", "offset": [1099, 1115]}, {"key": "in-accordance-with", "type": "clause", "offset": [1154, 1172]}, {"key": "last-day", "type": "definition", "offset": [1267, 1275]}, {"key": "interest-period-applicable-thereto", "type": "clause", "offset": [1282, 1316]}, {"key": "pursuant-to-section", "type": "clause", "offset": [1367, 1386]}, {"key": "partial-prepayment", "type": "definition", "offset": [1398, 1416]}, {"key": "any-loan", "type": "clause", "offset": [1420, 1428]}, {"key": "swingline-loan", "type": "clause", "offset": [1443, 1457]}, {"key": "in-the-case-of-an", "type": "clause", "offset": [1505, 1522]}, {"key": "revolving-borrowing", "type": "definition", "offset": [1536, 1555]}, {"key": "section-23", "type": "clause", "offset": [1585, 1596]}, {"key": "a-borrowing", "type": "definition", "offset": [1676, 1687]}, {"key": "the-loans", "type": "clause", "offset": [1716, 1725]}], "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 irrevocable written notice (or telephonic notice promptly confirmed in writing) to the Administrative Agent no later than 12:00 noon, (i) in the case of prepayment of any Eurodollar Borrowing, not less than three (3) Business Days prior to any such prepayment, (ii) in the case of any prepayment of any Base Rate Borrowing, on the Business Day of such prepayment, and (iii) in the case of Swingline Borrowings, on the date of such prepayment. Each such notice shall be irrevocable 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, together with accrued interest to such date on the amount so prepaid in accordance with Section 2.12(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 2.18. Each partial prepayment of any Loan (other than a Swingline Loan) shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type pursuant to Section 2.3 or in the case of a Swingline Loan pursuant to Section 2.5. Each prepayment of a Borrowing shall be applied ratably to the Loans comprising such Borrowing.", "samples": [{"hash": "bkK7sBduJEF", "uri": "/contracts/bkK7sBduJEF#optional-prepayments", "label": "Revolving Credit Agreement (Watsco Inc)", "score": 21.5557842255, "published": true}, {"hash": "b0RnENDCZqS", "uri": "/contracts/b0RnENDCZqS#optional-prepayments", "label": "Revolving Credit Agreement (Watsco Inc)", "score": 21.5557842255, "published": true}, {"hash": "6Gry8eOz5S", "uri": "/contracts/6Gry8eOz5S#optional-prepayments", "label": "Revolving Credit Agreement (Watsco Inc)", "score": 21.1533203125, "published": true}], "size": 315, "hash": "c932bb2bac080e9f4a78cba55800fdd9", "id": 5}, {"snippet_links": [{"key": "the-advances", "type": "clause", "offset": [40, 52]}, {"key": "notice-thereof", "type": "clause", "offset": [67, 81]}, {"key": "the-administrative-agent-and-the-lenders", "type": "clause", "offset": [85, 125]}, {"key": "adjusted-base-rate-advances", "type": "clause", "offset": [161, 188]}, {"key": "other-advances", "type": "definition", "offset": [229, 243]}, {"key": "applicable-time", "type": "clause", "offset": [292, 307]}, {"key": "in-foreign-currencies", "type": "clause", "offset": [343, 364]}, {"key": "swingline-advances", "type": "clause", "offset": [369, 387]}, {"key": "swingline-lenders", "type": "definition", "offset": [404, 421]}, {"key": "day-of", "type": "clause", "offset": [433, 439]}, {"key": "business-days", "type": "clause", "offset": [497, 510]}, {"key": "prior-to-the", "type": "clause", "offset": [512, 524]}, {"key": "eurocurrency-rate-advances", "type": "clause", "offset": [550, 576]}, {"key": "by-telephone", "type": "clause", "offset": [668, 680]}, {"key": "in-writing", "type": "definition", "offset": [735, 745]}, {"key": "proposed-date", "type": "definition", "offset": [766, 779]}, {"key": "aggregate-principal-amount", "type": "definition", "offset": [784, 810]}, {"key": "outstanding-revolving-advances", "type": "definition", "offset": [883, 913]}, {"key": "if-applicable", "type": "definition", "offset": [941, 954]}, {"key": "relevant-interest-period", "type": "definition", "offset": [960, 984]}, {"key": "the-borrower-shall", "type": "clause", "offset": [1046, 1064]}, {"key": "equal-to", "type": "definition", "offset": [1180, 1188]}, {"key": "date-of", "type": "clause", "offset": [1269, 1276]}, {"key": "the-principal-amount", "type": "definition", "offset": [1296, 1316]}, {"key": "pursuant-to-section", "type": "clause", "offset": [1366, 1385]}, {"key": "partial-prepayment", "type": "definition", "offset": [1479, 1497]}, {"key": "integral-multiples", "type": "definition", "offset": [1605, 1623]}, {"key": "designated-currency", "type": "definition", "offset": [2022, 2041]}, {"key": "interest-on-the", "type": "clause", "offset": [2156, 2171]}], "snippet": "The Borrower may elect to prepay any of the Advances, after giving notice thereof to the Administrative Agent and the Lenders by 10:00 a.m. (Houston, Texas) for Adjusted Base Rate Advances, by 12:00 p.m. (Houston, Texas) for all other Advances denominated in Dollars and by 12:00 p.m. in the Applicable Time for Revolving Advances denominated in Foreign Currencies and Swingline Advances made by Foreign Swingline Lenders (i) on the day of prepayment of any Swingline Advance, (ii) at least three Business Days\u2019 prior to the day of prepayment of any Eurocurrency Rate Advances and (iii) on the day of prepayment of any Adjusted Base Rate Advance. Such notice shall be by telephone or facsimile, and if by telephone, confirmed promptly in writing, and must state the proposed date and aggregate principal amount of such prepayment, whether such prepayment should be applied to reduce outstanding Revolving Advances or Swingline Advances, and if applicable, the relevant Interest Period for the Advances to be prepaid. If any such notice is given, the Borrower shall prepay Advances comprising part of the same Borrowing in whole or ratably in part in an aggregate principal amount equal to the amount specified in such notice, and shall also pay accrued interest to the date of such prepayment on the principal amount prepaid and amounts, if any, required to be paid pursuant to Section 2.8 as a result of such prepayment being made on such date; provided, however, that (i) each partial prepayment of Eurocurrency Rate Advances shall be in an aggregate principal amount of not less than $3,000,000 and in integral multiples of $1,000,000 in excess thereof, (ii) each partial prepayment of Adjusted Base Rate Advances shall be in an aggregate principal amount of not less than $500,000 and in integral multiples of $100,000 in excess thereof, (iii) each partial prepayment of Swingline Advances shall be in an aggregate principal amount of not less than $500,000, and (iv) any prepayment of an Advance shall be made in the Designated Currency in which such Advance was funded. Each prepayment pursuant to this Section 2.7(b) shall be accompanied by accrued interest on the amount prepaid to the date of such prepayment and amounts, if any, required to be paid pursuant to Section 2.8 as a result of such prepayment being made on such date.", "samples": [{"hash": "jEvOCruZNWv", "uri": "/contracts/jEvOCruZNWv#optional-prepayments", "label": "5 Year Credit Agreement (National Oilwell Varco Inc)", "score": 30.8398361206, "published": true}, {"hash": "9E8TEeeUFsu", "uri": "/contracts/9E8TEeeUFsu#optional-prepayments", "label": "Credit Agreement (National Oilwell Varco Inc)", "score": 28.4880218506, "published": true}], "size": 225, "hash": "c75ca9434658d9b6ae3770e456ee9880", "id": 6}, {"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": "clause", "offset": [270, 289]}, {"key": "business-days", "type": "clause", "offset": [322, 335]}, {"key": "dollar-loans", "type": "definition", "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": "clause", "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": "clause", "offset": [1019, 1039]}, {"key": "agent-shall", "type": "definition", "offset": [1080, 1091]}, {"key": "promptly-notify", "type": "clause", "offset": [1092, 1107]}, {"key": "bank-of", "type": "definition", "offset": [1113, 1120]}, {"key": "ratable-share", "type": "definition", "offset": [1161, 1174]}, {"key": "by-the-borrower", "type": "clause", "offset": [1253, 1268]}], "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.", "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}], "size": 170, "hash": "7217f40b1ee0b4949cdc82c01faaed20", "id": 10}, {"snippet_links": [{"key": "subsidiary-borrower", "type": "definition", "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": "clause", "offset": [160, 178]}, {"key": "except-as-otherwise-provided", "type": "clause", "offset": [180, 208]}, {"key": "new-york-city-time", "type": "definition", "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": "definition", "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": "clause", "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": "clause", "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": "definition", "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": "clause", "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": "clause", "offset": [1530, 1545]}, {"key": "relevant-lender", "type": "definition", "offset": [1551, 1566]}, {"key": "due-and-payable", "type": "clause", "offset": [1650, 1665]}, {"key": "swingline-loans", "type": "definition", "offset": [1773, 1788]}, {"key": "accrued-interest", "type": "clause", "offset": [1790, 1806]}, {"key": "loans-shall", "type": "definition", "offset": [1891, 1902]}, {"key": "aggregate-principal-amount", "type": "definition", "offset": [1912, 1938]}], "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.", "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}], "size": 670, "hash": "125ceb02b915fbb40e4b163c0ee89687", "id": 2}, {"snippet_links": [], "snippet": "Section 2.12.", "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}], "size": 209, "hash": "47636acf4da1bdf82ae5481cba6a0b54", "id": 7}, {"snippet_links": [{"key": "at-any-time", "type": "clause", "offset": [17, 28]}, {"key": "from-time-to-time", "type": "clause", "offset": [33, 50]}, {"key": "upon-notice", "type": "definition", "offset": [118, 129]}, {"key": "agreed-by", "type": "definition", "offset": [182, 191]}, {"key": "the-administrative-agent", "type": "definition", "offset": [192, 216]}, {"key": "new-york-city-time", "type": "definition", "offset": [281, 299]}, {"key": "days-prior", "type": "definition", "offset": [316, 326]}, {"key": "in-the-case", "type": "clause", "offset": [336, 347]}, {"key": "eurodollar-loans", "type": "clause", "offset": [351, 367]}, {"key": "abr-loans", "type": "definition", "offset": [465, 474]}, {"key": "amount-of-prepayment", "type": "clause", "offset": [516, 536]}, {"key": "day-of", "type": "clause", "offset": [679, 685]}, {"key": "interest-period-applicable-thereto", "type": "clause", "offset": [690, 724]}, {"key": "the-borrower-shall", "type": "clause", "offset": [726, 744]}, {"key": "amounts-owing", "type": "definition", "offset": [758, 771]}, {"key": "pursuant-to-section", "type": "clause", "offset": [772, 791]}, {"key": "upon-receipt-of", "type": "definition", "offset": [798, 813]}, {"key": "agent-shall", "type": "definition", "offset": [849, 860]}, {"key": "promptly-notify", "type": "clause", "offset": [861, 876]}, {"key": "relevant-lender", "type": "definition", "offset": [882, 897]}, {"key": "due-and-payable", "type": "clause", "offset": [981, 996]}, {"key": "swingline-loans", "type": "definition", "offset": [1104, 1119]}, {"key": "accrued-interest", "type": "clause", "offset": [1121, 1137]}, {"key": "loans-shall", "type": "definition", "offset": [1222, 1233]}, {"key": "aggregate-principal-amount", "type": "definition", "offset": [1243, 1269]}, {"key": "amounts-to-be", "type": "clause", "offset": [1435, 1448]}, {"key": "in-connection-with", "type": "clause", "offset": [1457, 1475]}, {"key": "made-pursuant-to", "type": "clause", "offset": [1488, 1504]}, {"key": "prepayment-of-the-loans", "type": "clause", "offset": [1542, 1565]}, {"key": "in-accordance-with", "type": "clause", "offset": [1566, 1584]}], "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 notice (which notice shall be irrevocable unless otherwise agreed by the Administrative Agent) delivered to the Administrative Agent no later than 1:00 P.M., New York City time, three Business Days prior thereto, in the case of Eurodollar Loans, and no later than 1:00 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 Eurodollar Loans or ABR Loans; provided, that if a Eurodollar 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 2.20. 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. Amounts to be applied in connection with prepayments made pursuant to Section 2.10 shall be applied to the prepayment of the Loans in accordance with Sections 2.17(b) and (c).", "samples": [{"hash": "5wRpYMR7T8U", "uri": "/contracts/5wRpYMR7T8U#optional-prepayments", "label": "Credit Agreement (Advent Software Inc /De/)", "score": 24.4469547272, "published": true}, {"hash": "7Z7GRtKV9tX", "uri": "/contracts/7Z7GRtKV9tX#optional-prepayments", "label": "Credit Agreement (Advent Software Inc /De/)", "score": 22.9164962769, "published": true}], "size": 194, "hash": "d21921f5a9681354752dfb23085f92b4", "id": 9}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2Ih1vcHRpb25hbC1wcmVwYXltZW50cyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["revolving-loans", "Revolving Loans"], ["term-loan", "Term Loan"], ["term-loans", "Term Loans"], ["", ""], ["optional-prepayments", "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"]], "title": "Optional Prepayments", "size": 13041, "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": "2026-05-08T06:30:32+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": ""}}