Permitted Prepayment Clause Samples

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances, provided ▇▇▇▇▇▇▇▇ (i) delivers written notice to Bank of its election to prepay the Term Loan Advances at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (B) the Final Payment, and (C) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Except as provided below, Borrower shall have no right to prepay the Credit Extensions made in respect of a Term Credit Facility. Borrower shall have the option to prepay the Prepayable Amount (as defined below) of a Term Credit Facility advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Agent of its election to prepay the Prepayable Amount at least fifteen (15) days prior to such prepayment, and (ii) pays to Agent, for payment to each Lender in accordance with its respective Pro Rata Share, on the date of such prepayment, an amount equal to the sum of (A) the Prepayable Amount, plus accrued interest thereon, (B) any fees payable under the Fee Letters by reason of such prepayment, (C) the Applicable Prepayment Fee as specified in the Credit Facility Schedule for the Credit Facility being prepaid, and (D) all Protective Advances. The term “Prepayable Amount” means all, but not less than all, of the Credit Extensions and all other Obligations under all Term Credit Facilities.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advance advanced by the Term Loan Lenders under this Agreement, provided Borrower (i) delivers written notice to Agent and each Term Loan Lender of its election to prepay the Term Loan Advance at least fifteen (15) days prior to such prepayment, and (ii) pays to Agent, for the account of each Term Loan Lender, as applicable, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (B) the Prepayment Premium, (C) the Final Payment and (D) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Growth Capital Advances advanced by Bank under this Agreement, provided Borrower (i) delivers written notice to Bank of its election to prepay the Growth Capital Advances at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Growth Capital Advances, (B) the Prepayment Fee, and (C) all other sums, if any, that shall have become due and payable with respect to the Growth Capital Advances, including Bank Expenses, if any, and interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Agent of its election to prepay the Term Loan Advances at least five (5) Business Days prior to such prepayment, and (ii) pays to Agent, for the account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment (A) all outstanding principal plus accrued and unpaid interest, (B) the Final Payment, (C) the Prepayment Premium and (D) all other sums, if any, that shall have become due and payable hereunder with respect to the Term Loan Advances, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan A, provided Borrower (i) delivers written notice to Bank of its election to prepay the Term Loan A at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Term Loan A, and (B) all other sums, if any, that shall have become due and payable with respect to the Term Loan A, including interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Except as provided below, Borrower shall have no right to prepay the Credit Extensions made in respect of a Term Credit Facility. After the Closed Period, if any, for the applicable Term Credit Facility as specified in the Credit Facility Schedule, a Borrower shall have the option to prepay the Prepayable Amount (as defined below) of a Term Credit Facility advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Agent of its election to prepay the Prepayable Amount at least thirty (30) days prior to such prepayment, and (ii) pays to Agent, for payment to each Lender in accordance with its respective Pro Rata Share, on the date of such prepayment, an amount equal to the sum of (A) the Prepayable Amount plus accrued interest thereon, (B) any fees payable under the Fee Letters by reason of such prepayment, (C) the Applicable Prepayment Fee as specified in the Credit Facility Schedule for the Credit Facility being prepaid and (D) all Protective Advances. Upon Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, a Borrower shall have the option upon five (5) Business Days prior written notice to Agent to prepay the Prepayable Amount of a Term Credit Facility advanced by the Lenders under this Agreement, provided (i) such prepayment is received within thirty (30) days of Borrower’s receipt of such notice of the commencement of a Benchmark Unavailability Period, and (ii) Borrower pays to Agent, for the benefit of each Lender in accordance with its respective Pro Rata Share, on the date of such prepayment, an amount equal to the sum of (A) the Prepayable Amount plus accrued interest thereon, (B) any fees payable under the Credit Agreement or Fee Letters by reason of such prepayment and (C) all Protective Advances. The term “Prepayable Amount” means all or any portion of the Credit Extensions and all other Obligations under the applicable Term Credit Facility. ​

Permitted Prepayment. Except as provided below, Borrower shall have no right to prepay the Credit Extensions made in respect of a Term Credit Facility. For the applicable Term Credit Facility as specified in the Credit Facility Schedule, Borrower shall have the option to prepay the Prepayable Amount (as defined below) of a Term Credit Facility advanced by the Lenders under this Agreement, provided Borrower (i) provides written notice to Agent and each Lender of its election to prepay the Prepayable Amount at least thirty (30) days prior to such prepayment, and (ii) pays to Agent for payment to each applicable Lender in accordance with its respective Pro Rata Share, on the date of such prepayment, an amount equal to the sum of (A) the Prepayable Amount, plus accrued interest thereon, (B) any fees payable under the Fee Letters by reason of such prepayment, (C) the Applicable Prepayment Fee as specified in the Credit Facility Schedule for the Credit Facility being prepaid, and (D) all Protective Advances. The term “Prepayable Amount” means (x) $5,000,000 or more so long as no more than two prepayments under this Section 2.3(d) have been made and (y) otherwise all, but not less than all, of the Credit Extensions and all other Obligations under all Term Credit Facilities.

Permitted Prepayment. Except as provided below, Borrower may not prepay the principal balance of this Note in whole or in part. Borrower may, on any scheduled payment date on or after April 1, 2003, and subject to giving Lender not less than thirty (30) days nor more than ninety (90) days prior written notice, prepay the entire unpaid principal amount of this Note together with any and all accrued interest and other sums due hereunder and under any of the other Loan Documents, subject to a prepayment premium described below and subject to and in accordance with the following terms and conditions: A. It shall be a pre-condition of any such prepayment: (i) that all of the Related Loans shall be prepaid in full in accordance with the terms of their respective Related Loan Documents simultaneously with the prepayment in full on the Loan, or (ii) if no uncured default exists under the Loan or under any of the Related Loans, that Lender shall, in its sole reasonable discretion, allow the Loan, either alone or together with one or more of the Related Loans, to be prepaid in full, provided (a) that the Related Loans which are not then being prepaid (hereinafter the "Remaining Related Loans") shall have a ratio of outstanding principal balance to value of the properties securing the Remaining Related Loans that, in the aggregate, is less than or equal to sixty percent (60%) (such loan to value ratio to be determined as hereinafter provided), and (b) that the aggregate net operating income ("Net Operating Income") from the properties securing the Remaining Related Loans shall equal or exceed 1.30 times the total debt service payable under the Remaining Related Loans and under any loans ("junior loans") secured by liens junior to those of the Remaining Related Loans (without any implication that junior loans are permitted under the Loan Documents or the Related Loan Documents) (such ratio is hereinafter referred to as "required debt service coverage" and shall be determined by Lender, in its sole discretion, as hereinafter provided). B. For purposes of the preceding paragraph, property values shall be determined, at ▇▇▇▇▇▇▇▇'s election, by one of the following methods: (i) by an appraisal performed by an appraiser mutually acceptable to Borrower and Lender with experience in the appraisal of retail shopping center properties and who is a Member of the Appraisal Institute, at Borrower's expense, (ii) by a totally arm's-length bona fide third party offer to purchase the property in question...