Common use of Partial Prepayments Clause in Contracts

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in the absence of instruction by the Borrower, to the principal of Base Rate Loans and then to the principal of LIBOR Rate Loans.

Appears in 2 contracts

Sources: Senior Secured Term Loan Agreement (Cogdell Spencer Inc.), Senior Secured Revolving Credit Agreement (Gladstone Commercial Corp)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 2.4(c) shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 2.4(b) and §3.3 2.4(c) shall be applied be, in the absence of instruction by the Borrower, applied first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 2 contracts

Sources: Term Credit Agreement, Term Credit Agreement (STORE CAPITAL Corp)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 500,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in the absence of instruction by the Borrower, to the principal of Base Rate Loans and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Credit Agreement (Gladstone Commercial Corp)

Partial Prepayments. Each partial prepayment of the Loans Loan or portion hereof under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in the absence of instruction by the Borrower, first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Term Loan Agreement (Dupont Fabros Technology, Inc.)

Partial Prepayments. Each partial prepayment of the Loans Loan under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in first to the absence principal of instruction by the BorrowerLoan (and with respect to each category of Loan, first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans).

Appears in 1 contract

Sources: Credit Agreement (City Office REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans Loans, and then second to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Term Loan Agreement (QualityTech, LP)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 500,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in the absence of instruction by the Borrower, first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Term Loan Agreement (Carter Validus Mission Critical REIT II, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in to the absence principal of instruction by the Borrower, Loans (first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans).

Appears in 1 contract

Sources: Credit Agreement (Pacific Office Properties Trust, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 100,000.00 or an integral multiple of $100,000.00 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment and any amount payable under §3.2 and §3.3 shall be applied in 3.3(c). In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Term Loan Agreement (Mid-America Apartments, L.P.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 100,000.00 or an integral multiple of $100,000.00 in excess thereof, and shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in In the absence of instruction by the Borrower, prepayments shall be applied first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Term Loan Agreement (Mid-America Apartments, L.P.)

Partial Prepayments. Each partial prepayment of the Loans Loan under §3.3 shall be in a minimum amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in ratably to the absence Loan of instruction by the Borrowereach Lender outstanding as of such date (and with respect to each category of Loans, first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans).

Appears in 1 contract

Sources: Term Loan Agreement (Moody National REIT II, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof100,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of the Base Rate Loans and then to the principal of the LIBOR Rate Loans.

Appears in 1 contract

Sources: Bridge Loan Agreement (Ramco Gershenson Properties Trust)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof5,000,000, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 shall be applied in the absence of instruction by the Borrowerapplied, first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Term Loan Credit Agreement (Plymouth Industrial REIT, Inc.)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 2.4(c) shall be in a minimum amount of $1,000,000.00 or an integral multiple of $100,000.00 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 2.4(b) and §3.3 2.4(c) shall be applied in the absence of instruction by the Borrower, first to the principal of Base Rate Loans Loans, and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Bridge Loan Credit Agreement (STORE CAPITAL Corp)

Partial Prepayments. Each partial prepayment of the Loans under §3.3 shall be in a the minimum amount of $1,000,000.00 1,000,000 or an integral multiple of $100,000.00 100,000 in excess thereof, shall be accompanied by the payment of accrued interest on the principal prepaid to the date of payment. Each partial payment under §3.2 and §3.3 and, after payment of such interest, shall be applied applied, in the absence of instruction by the Borrower, first to the principal of Base Rate Loans and then to the principal of LIBOR Rate Loans.

Appears in 1 contract

Sources: Revolving Credit Agreement (Foundation Capital Resources Inc)