Prepayment and Cancellation. 5.4.1 The Borrower may prepay, without premium or penalty but subject to clause 5.10, the Loan Outstandings in whole or in part, or cancel the Loan in whole or in part, in each case in a minimum amount of five million Dollars ($5,000,000) or any larger sum which is an integral multiple of one million Dollars ($1,000,000) (or in either case as otherwise may be agreed by the Agent) and provided that the Borrower has first given to the Agent not fewer than ten (10) days prior written notice in respect of a prepayment of all or part of the Loan Outstandings or fifteen (15) days in respect of a cancellation in whole or part of the Commitment in each such case expiring on a Business Day of their intention to do so. Any notice pursuant to this clause 5.4 once given shall be irrevocable and shall (in the case of a prepayment) oblige the Borrower to make the prepayment referred to in the notice on the Business Day specified in the notice, together with all interest accrued on the amount prepaid and all accrued and unpaid Commitment Fees up to and including that Business Day and any and all other amounts then due and payable under this Agreement and any of the other Security Documents including, without limitation, any sums payable under the indemnity in clause 15 and all amounts due and payable under the Swap Agreements. Any cancellation of part (but not the whole) of the Commitment shall be subject to the condition that the Borrower has demonstrated to the satisfaction of the Agent (acting reasonably) that it will have sufficient funds to comply with its obligations under the Relevant Documents following any such cancellation.
Appears in 4 contracts
Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
