Common use of Permitted Prepayment of Term Loans Clause in Contracts

Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by Bank under this Agreement, provided Borrower (i) provides written notice to Bank of its election to prepay Term Loans at least five (5) Business Days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) all outstanding principal plus accrued interest thereon, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (Spruce Biosciences, Inc.), Loan and Security Agreement (Spruce Biosciences, Inc.)

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Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by Bank under this Agreement, provided Borrower (i) provides written notice to Bank of its election to prepay the Term Loans at least five ten (510) Business Days prior to such prepayment, and (ii) pays, pays to Bank on the date of such prepayment prepayment, an amount equal to the sum of (A) all outstanding principal of the Term Loans plus accrued interest thereonthereon through the prepayment date, (B) the Final Payment, (C) the Prepayment Fee, plus (D) all other sums, if any, that shall have become due and payable, including Bank Expenses, if any, and interest at the Default Rate with respect to any past due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (TRIA Beauty, Inc.), Loan and Security Agreement (TRIA Beauty, Inc.)

Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by Bank under this Agreement, provided Borrower (i) provides written notice to Bank of its election to prepay the Term Loans at least five ten (510) Business Days days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) all outstanding principal plus accrued interest thereon, (B) the Final Payment, (C) the Prepayment Feeinterest, plus (DB) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Solazyme Inc)

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Permitted Prepayment of Term Loans. Borrower shall have the option to prepay all, but not less than all, of the Term Loans advanced by Bank under this Agreement, provided Borrower (i) provides written notice to Bank of its election to prepay Term Loans at least five (5) Business Days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) all outstanding principal plus accrued interest thereon, (B) the Final Payment, (C) the Prepayment Feeinterest, plus (DB) all other sums, if any, that shall have become due and payable, including interest at the Default Rate with respect to any past due amounts.

Appears in 1 contract

Samples: Loan and Security Agreement (Knightscope, Inc.)

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