Optional Reassignment of Loans Sample Clauses

Optional Reassignment of Loans. (a) Subject to Section 8.05 and 8.07 of the Indenture, at the start of business on any Loan Action Date occurring during the Revolving Period, the Depositor on behalf of itself and the Depositor Loan Trustee, at its sole option, may require reassignment from each of the Issuer and the Issuer Loan Trustee for the benefit of the Issuer, respectively, of their interests in Loans that were not Charged-Off Loans or Delinquent Loans, in each case, as of the end of the immediately preceding Collection Period by selecting such Loans in a manner that the Depositor reasonably believes is not materially adverse to the interests of any Class of Noteholders and such Loans shall be reassigned to each of the Depositor and the Depositor Loan Trustee for the benefit of the Depositor for the Reassignment Price applicable to such Loans, such Reassignment Price to be paid (i) for so long as the Depositor is the holder of the Trust Certificate, and at the Depositor’s option, by an adjustment to the value of the Trust Certificate, if such adjustment is available or (ii) otherwise, in immediately available funds to the Servicer (to be deposited in the Principal Distribution Account) in the manner prescribed in Section 2.10(b); provided, that this optional reassignment is exercisable only to the extent that, no Reinvestment Criteria Event is outstanding and the reassignment of such Loans shall constitute a Permitted Depositor Reassignment, in either case, after giving effect to (i) the reassignment of such Loans to the Depositor and the Depositor Loan Trustee for the benefit of the Depositor, (ii) the payment of the Reassignment Price as described above, and (iii) all Loan Actions with respect to such Loan Action Date. No such reassignment may cause the Issuer to breach or otherwise violate any provision of the Indenture.
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Optional Reassignment of Loans. (a) Subject to Section 8.05 and 8.07 of the Indenture, at the start of business on any Loan Action Date occurring during the Revolving Period, the Depositor on behalf of itself and the Depositor Loan Trustee, at its sole option, may require reassignment from each of the Issuer and the Issuer Loan Trustee for the benefit of the Issuer, respectively, of their interests in Loans that were not Charged-Off Loans or Delinquent Loans, in each case, as of the end of the immediately preceding Collection Period by selecting such Loans (each, a “Reassigned Loan”) in a manner that the Depositor reasonably believes is not materially adverse to the interests of any Noteholders and such Loans shall be reassigned to each of the Depositor and the Depositor Loan Trustee for the benefit of the Depositor for the Reassignment Price applicable to such Loans, such Reassignment Price to be paid (i) for so long as the Depositor is the holder of the Trust Certificate, and at the Depositor’s option, by an adjustment to the value of the Trust Certificate, if such adjustment is available or (ii) otherwise, in immediately available funds to the Servicer (to be deposited in the Principal Distribution Account) in the manner prescribed in Section 2.10(b) (it being understood and agreed that the Reassignment Price with respect to an Asset Release Refinancing shall only be payable in immediately available funds in accordance with clause (ii) above); provided, that this optional reassignment is exercisable only to the extent that:
Sample 1

Related to Optional Reassignment of Loans

  • Optional Prepayment of Loans (a) 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 paragraph (b) of this Section.

  • Prepayment of Loans (a) 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 paragraph (b) of this Section.

  • Repayment of Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Loans outstanding on such date.

  • Voluntary prepayment of Loans 7.5.1 The Borrowers may, by giving the Facility Agent not less than five (5) Business Days’ prior notice, prepay the whole or part (but if in part, in a minimum amount of USD 1,000,000 and an integral multiple of USD 1,000,000 or such whole amount as, the Facility Agent may agree) of any Loan.

  • Prepayment of Loan So long as ECOLOGY shall hold this loan, the RECIPIENT may prepay the entire unpaid principal balance of and accrued interest on the loan or any portion of the remaining unpaid principal balance of the Loan Amount . Any prepayments on the loan shall be applied first to any accrued interest due and then to the outstanding principal balance of the Loan Amount. If the RECIPIENT elects to prepay the entire remaining unpaid balance and accrued interest, the RECIPIENT shall first contact ECOLOGY’s Revenue/Receivable Manager of the Fiscal Office.

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Repayment of Loan 6.1.1 Upon the occurrence of either an Event of Default or a decision by Party A, in its sole discretion, to demand repayment of the Loan or any portion of the Loan, Party A may at its discretion issue a notice (Repayment Notice) to Party B requiring repayment of the Loan or any portion of the Loan and any other payment in arrears under this Agreement.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Mandatory Prepayment of Loans Clause (a) of Section 2.10 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows:

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified by Borrower in the applicable notice of prepayment; provided, in the event Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

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