Prepayment; Acceleration Clause Samples
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Prepayment; Acceleration. This Note may be prepaid in whole or in part at any time or from time to time without penalty. If this Note is not paid in full on the Maturity Date, then, at the Lender's election, all amounts not paid when due at the Maturity Date shall become part of principal and shall thereafter accrue interest at the rate of nine percent (9%) per annum. In the event of an acceleration of the maturity of this Note (as described below), this Note shall become immediately due and payable without presentation, demand, protest or notice of dishonor, all of which are hereby waived by the Borrower. The Borrower also shall pay, and this Note shall evidence the Borrower's obligation to pay, the Lender any and all actual costs incurred by the Lender for the interpretation, performance, exercise, enforcement or protection of its rights hereunder and for the collection of the Borrower's obligations under this Note, including reasonable attorneys' fees and expenses, and all costs to collect, possess, preserve, repair and liquidate the collateral given by the Borrower to secure the obligations owed to the Lender.
Prepayment; Acceleration. The outstanding principal balance and all accrued interest payable to Holder hereunder may not be prepaid without the consent of Holder in its sole and absolute discretion. All prepayments so permitted shall be applied in the order provided in Section 1. The outstanding principal balance of this Note is subject to acceleration as set forth in Section 9 of the Loan Agreement. Following any such acceleration, Holder may pursue any and all legal or equitable remedies that are available to it.
Prepayment; Acceleration. The unpaid principal balance and all accrued interest and any and all other sums payable to Seagate hereunder may be prepaid prior to the Maturity Date. All prepayments so permitted shall be applied in the order provided in Section 1. The unpaid principal balance of this Note is subject to acceleration upon the occurrence of a Corporate Event, as set forth in the Loan Agreement. Following any such acceleration, in addition to Seagate's rights with respect to the Collateral described in the Loan Agreement, Seagate will have full recourse, subject to the terms of the Subordination Agreement, against any tangible or intangible assets of Debtor, and may pursue any legal or equitable remedies that are available to it.
Prepayment; Acceleration. This Note shall be subject to prepayment from time to time in accordance with Section 2(j) of the MLA, and, subject to Section 9 of the MLA, on demand upon the occurrence and during the continuance of an Event of Default. Borrower shall not have the right to prepay this Note except in accordance with Section 2(j). Any partial prepayment pursuant to Section 2(j) of the MLA shall be applied to the installments hereof in the inverse order of maturity. Upon the Stated Maturity Date, the entire unpaid principal amount on this Note, together with all accrued interest and other amounts payable hereunder (the “Total Obligation”), shall be immediately due and payable without further notice or demand. In the event of (a) the acceleration of the maturity of this Note in accordance with the terms of the MLA and the other Loan Documents or (b) Borrower’s failure to pay in full and in good, immediately available funds the Total Obligation when otherwise due (after giving effect to any applicable grace period), then the entire Total Obligation, together with all interest, fees and other amounts payable thereon or in connection herewith shall then be immediately due and payable together with interest on all such amounts at the Default Rate, from the date of such maturity or acceleration, as the case may be, until all such amounts have been paid in full in good, immediately available funds. If any payment on this Note becomes payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day.
Prepayment; Acceleration. (a) Except as expressly provided in this SECTION 2.05, Borrower may not prepay the Note.
(b) On any Loss Payment Date on which the Lessee is required pursuant to Section 10.1 of the Lease to make payment of Stipulated Loss Value with respect of the Aircraft, Borrower shall prepay the principal of the Loan then outstanding together with all accrued and unpaid interest on the Loan and all other Liabilities with respect to the Loan [*] then due. Any sums payable to Borrower by the Lessee, any insurer or any other Person with respect to an Event of Loss (other than Excluded Payments) shall, if received by the Borrower, be paid over to Security Trustee for application as provided in Section 3 of the Security Agreement.
(c) If Lessee elects to purchase the Aircraft prior to the end of the Term pursuant to Section 17 of the Lease, Borrower shall on the date Lessee so purchases the Aircraft prepay in full the principal of the Loan outstanding, together with all accrued and unpaid interest on the Loan and all other Liabilities with respect to the Loan [*] due on such date. Borrower shall give Lender and Security Trustee a copy of Lessee's notice of Lessee's intent to terminate the Lease under Section 17 thereof promptly upon receipt thereof from Lessee (if not provided by Lessee to Lender).
(d) If Lessee determines to terminate the Lease pursuant to Section 9 of the Lease, Borrower shall, on the date of termination of the Lease pursuant to such Section 9, prepay in full the principal of the Loan then outstanding, together with all accrued and unpaid interest on the Loan and all other Liabilities [*] with respect to the Loan due on such date. Borrower shall give Lender and Security Trustee a copy of Lessee's notice of Lessee's election to terminate the Lease under such Section 9 promptly upon receipt thereof from Lessee (if not provided by Lessee to Lender).
(e) Borrower shall have the right, upon 30 days' revocable prior notice to Lender and Security Trustee), to prepay the Loan in full at any time; PROVIDED, that such prepayment with respect to the Loan is of all principal outstanding on the Loan, and all other Liabilities [*] of, Borrower with respect to the Loan due on such date.
(f) The Notes and the Loan (i) may be accelerated following any Loan Event of Default specified in Section 4.01(a) through (f) and (ii) will automatically accelerate following any Loan Event of Default specified in Section 4.01(g), as provided in Section 5 of the Security Agreement and,...
Prepayment; Acceleration. 4.1 Prepayment of principal, or any portion thereof, together with all unpaid and accrued interest thereon, may be made at any time without penalty. Payments shall be applied first to accrued interest and then to principal.
4.2 If Borrower desires to sell some but not all of the Shares described in paragraph 5, below, then as a condition to the Company's consent to such sale Borrower shall pay to Company an amount of principal in the same proportion to the Principal Amount as the shares sold are to the total Shares, plus all interest accrued to the date of the sale.
4.3 Notwithstanding any provision set forth above, the entire unpaid principal sum of this Promissory Note, together with all unpaid and accrued interest thereon, shall become immediately due and payable upon the occurrence of the following:
(a) termination of Borrower's status as and employee, [director or consultant] of the Company;
(b) the commission of any act of bankruptcy by Borrower, the execution by Borrower of a general assignment for the benefit of creditors, the filing by or against Borrower of any petition in bankruptcy or any petition for relief under the provisions of the Federal Bankruptcy Act or any other state or federal law for the relief of debtors and the continuation of such petition without dismissal for a period of twenty (20) days or more, the appointment of a receiver or trustee to take possession of any property or assets of Borrower, or the attachment of or execution against any property or assets of Borrower; or
(c) any default of Borrower's obligations under this Promissory Note, including the failure to pay when due the amounts payable hereunder.
Prepayment; Acceleration. Debtor may elect to prepay any portion of the unpaid principal balance and all accrued interest without penalty; provided, that no prepayment shall be for less than $150,000 of the unpaid principal balance, unless the unpaid principal balance is less than $150,000 in which case the prepayment shall not be less than the unpaid principal balance plus accrued interest. All prepayments shall be applied in the order provided in Section 1. The unpaid principal balance of this Note is subject to acceleration as set forth in the Loan Agreement. Following any such acceleration, in addition to EFC's rights with respect to the collateral described in the Loan Agreement, EFC will have full recourse against any tangible or intangible assets of Debtor, and may pursue any legal or equitable remedies that are available to it.
Prepayment; Acceleration. Amounts borrowed hereunder together with ----------------------- all accrued interest thereon may be prepaid at any time prior to the Maturity Date without penalty.
Prepayment; Acceleration. (a) Prepayment. Developer shall have the right to prepay the Construction/Permanent Loan at any time and from time to time, without penalty or premium, provided that any prepayment of principal must be accompanied by interest accrued but unpaid to the date of prepayment. Prepayments shall be applied first to accrued but unpaid interest and then to principal. Any such prepayment shall have no effect upon Developer’s obligations under the Regulatory Agreement which shall survive for the full term of the Regulatory Agreement.
Prepayment; Acceleration