Payments Prepayments Sample Clauses
The "Payments; Prepayments" clause defines the rules and procedures for making scheduled payments and for making payments ahead of schedule under an agreement. It typically outlines when and how payments must be made, including acceptable methods and timing, and specifies whether prepayments are allowed, if any penalties or conditions apply, and how such prepayments affect future obligations. This clause ensures both parties understand their financial responsibilities and provides flexibility for early repayment, thereby reducing the risk of misunderstandings or disputes regarding payment terms.
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Payments Prepayments. (i) Borrower promises to pay to Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder in accordance with the terms herein. Borrower shall also pay interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof. Interest hereunder shall be due and payable on the last calendar day of each month during the term hereof. Bank may, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts and Bank shall provide Borrower prompt notice of any such charge. Only if Borrower’s deposit accounts lack sufficient funds to pay such amounts when due, Bank shall charge such amounts against the Revolving Line, in which case those amounts shall thereafter accrue interest at the rate then applicable hereunder. Any interest not paid when due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. Failure of Bank to draw interest, Bank Expenses, and Periodic Payments from Borrower’s deposit accounts in a timely manner shall not cause additional interest or penalties to accrue. Notwithstanding anything to the contrary in this Agreement, on the Revolving Maturity Date, all Advances under this Section shall be immediately due and payable. Borrower may prepay any Advances without penalty or premium.
(ii) In the event that the amount of total Credit Extensions exceeds the Revolving Line, promptly (but in no event later than five (5) days) Borrower shall prepay Advances in such amounts as shall be necessary so that the amount of total Credit Extensions does not exceed the Revolving Line.
(iii) In the event that at any time the amount of total Credit Extensions exceeds the Borrowing Base (a “Borrowing Base Deficiency”), promptly (but in no event later than fifteen (15) days), Borrower shall prepay the Advances and/or deposit cash into a Collateral Account so that any such deficiency is promptly cured.
Payments Prepayments. Payments of principal, including mandatory prepayments, and interest with respect to the Loan shall be due and payable as set forth in the Note. All payments due under the Loan Documents shall be made in immediately available funds to Lender at such place as designated by Lender from time to time. Payments shall be applied, at Lender’s sole discretion: (i) first, to payment of accrued and unpaid interest, if any; (ii) second, to payment of any principal then due, if any; (iii) third, to late charges, if any; (iv) fourth, to reasonable attorneys’ fees and costs of collection and (v) fifth, to reduce the outstanding principal balance of the Note until such principal shall have been fully repaid. All payments hereunder shall be made without offset, demand, counterclaim, deduction, abatement, defense, or recoupment, each of which Borrower hereby waives. The terms and conditions of optional prepayments are as set forth in the Note.
Payments Prepayments. Payment, when paid, shall be applied first to the payment of all interest accrued and unpaid on this Note and then to payment on account of the principal hereof.
Payments Prepayments. All payments hereunder shall be made by the Borrower to the Lender in United States currency at the Lender’s address specified above (or at such other address as the Lender may specify), in immediately available funds, on the due date thereof. Payments received by the Lender prior to the occurrence of an Event of Default will be applied: first to accrued interest; second to outstanding principal; and third to fees, expenses and other amounts due hereunder (excluding principal and interest); after the occurrence of an Event of Default, payments will be applied to the obligations under this Note as the Lender determines in its sole discretion. Any prepayments of principal made by the Borrower shall be applied to installments of principal in the inverse order of the date on which they become due. Amounts repaid with respect to the Term Loan Facility may not be reborrowed. Upon the occurrence of any Event of Default, Draws shall, to the extent not prohibited under applicable law, bear interest at the Default Rate.
Payments Prepayments. All payments hereunder shall be made by the undersigned to the Agent in United States currency at the Agent's address specified above (or at such other address as the Agent may specify), in immediately available funds, on or before 2:00 p.m. (Boston, Massachusetts time) on the due date thereof. Payments received by the Agent prior to the occurrence of an Event of Default will be applied FIRST to fees, expenses and other amounts due hereunder (excluding principal and interest); SECOND, to accrued interest; and THIRD to outstanding principal. After the occurrence of an Event of Default payments will be applied to the Obligations under this Note as the Agent determines in its sole discretion. The undersigned may pay all or a portion of the amount owed earlier than it is due without penalty. If this Note is payable in installments, prepayments shall be applied to installments of principal in the inverse order of the date on which they become due. Amounts prepaid may not be reborrowed.
Payments Prepayments. All payments hereunder shall be made by the Borrower to the Bank in United States currency at the Bank’s address specified above (or at such other address as the Bank may specify), in immediately available funds, on or before 2:00 p.m. (New York City time) on the due date thereof. Payments received by the Bank prior to the occurrence of an Event of Default (as defined in Section 2.1 below) will be applied first to fees, expenses and other amounts due hereunder (excluding principal and interest); second, to accrued interest; and third to outstanding principal; after the occurrence of an Event of Default payments will be applied to the amounts outstanding under this Note as the Bank determines in its sole discretion.
Payments Prepayments. (a) For value received, the Borrower hereby promises to pay to the Lender or to the Lender’s order, upon demand, an amount equal to the aggregate unpaid principal amount of all Advances made by the Lender to the Borrower, together with interest calculated pursuant to Section 2.2 and all other Obligations outstanding under this Agreement.
(b) Upon at least three LIBOR Business Days’ prior written notice to the Lender, the Borrower shall have the right, from time to time, on the last day of any Interest Period for a particular Advance, to pay the outstanding principal amount of that Advance, in whole or in part, in an amount of not less than $100,000.00 plus the amount of any then accrued but unpaid interest on the principal amount paid. Each notice of payment shall specify the payment date and the principal amount of the Advance to be paid, shall be irrevocable and shall commit the Borrower to pay the Advance in the amount and on the date stated therein.
(c) Upon at least three LIBOR Business Days’ prior written notice to the Lender and subject to the indemnification provisions of Section 2.3(d), the Borrower shall have the right, from time to time, on any LIBOR Business Day, other than the last day of any Interest Period for a particular Advance, to pay the outstanding principal amount of that Advance, in whole or in part, in an amount of not less than $100,000.00 plus the amount of any accrued but unpaid interest to the date of such payment on the principal amount so paid. Each such notice of payment shall specify the payment date, the principal amount of the Advance to be paid, be irrevocable and commit the Borrower to pay the Advance in the amount and on the date stated therein.
(d) The Borrower shall pay to the Lender, upon the request of the Lender, such amount as the Lender reasonably determines will compensate it for any loss (including loss of profit), cost or expense incurred by the Lender as a result of the payment of any Advance, in whole or in part, on a date other than the last day of the Interest Period for such Advance, whether such payment is made by the Borrower pursuant to Section 2.3(c) or is effected by the Lender liquidating all or a portion of Securities Account upon the occurrence of a Remedy Event. Notice by the Lender to the Borrower of the amount of any such compensation to be paid by the Borrower shall be conclusive.
(e) For purposes of determining the last day of an Interest Period, each Interest Period that would otherwise end ...
Payments Prepayments. Subject to the provisions hereof:
Payments Prepayments. AND REDUCTION OR TERMINATION OF THE REVOLVING CREDIT FACILITY.
Payments Prepayments. No Loan Party shall prepay voluntarily any Subordinated Debt, except as permitted by the terms of this Agreement or any other Loan Document.