Common use of Prepayment of LIBOR Loans Clause in Contracts

Prepayment of LIBOR Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.4.; provided that, so long as no Default or Event of Default shall have occurred and be continuing, if any prepayment of LIBOR Loans is required to be made under this Section 2.9.(b) prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.9.(b) in respect of any such LIBOR Loan prior to the last day of the Interest Period therefor, the Company may, in its sole discretion, deposit an amount sufficient to make any such prepayment otherwise required to be made thereunder together with accrued interest to the last day of such Interest Period into an account held at, and subject to the sole control of, the Administrative Agent until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.9.(b). Upon the occurrence and during the continuance of any Default or Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with the relevant provisions of this Section 2.9.(b).

Prepayment of LIBOR Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.4.; provided that, so long as no Default or Event of Default shall have occurred and be continuing, if any prepayment of LIBOR Loans is required to be made under this Section 2.9.(b2.9.(b)(v) prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.9.(b2.9.(b)(v) in respect of any such LIBOR Loan prior to the last day of the Interest Period therefor, the Company may, in its sole discretion, deposit an amount sufficient to make any such prepayment otherwise required to be made thereunder together with accrued interest to the last day of such Interest Period into an account held at, and subject to the sole control of, the Administrative Agent until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.9.(b2.9.(b)(v). Upon the occurrence and during the continuance of any Default or Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with the relevant provisions of this Section 2.9.(b2.9.(b)(v).

Prepayment of LIBOR Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.4.; provided that, so long as no Default or Event of Default shall have occurred and be continuing, if any prepayment of LIBOR Loans is required to be made under this Section 2.9.(b2.9.(b)(v) prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.9.(b2.9.(b)(v) in respect of any such LIBOR Loan prior to the last day of the Interest Period therefor, the Company may, in its sole discretion, deposit an amount sufficient to make any such prepayment otherwise required to be made thereunder together with accrued interest to the last day of such Interest Period into an account held at, and subject to the sole control of, the Administrative Agent until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.9.(b). Upon the occurrence and during the continuance of any Default or Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with the relevant provisions of this Section 2.9.(b).