Common use of Prepayment of Revolving Credit Advances Clause in Contracts

Prepayment of Revolving Credit Advances. The Borrower may prepay all or part of the outstanding balance of any Prime-based Advance(s) of the Revolving Credit at any time, provided that the amount of any partial prepayment shall be at least One Million Dollars ($1,000,000) and, after giving effect to any such partial prepayment, the aggregate Dollar Amount of Prime-based Advance(s) of the Revolving Credit remaining outstanding, if any, shall be at least Two Million Dollars ($2,000,000). The Borrower may prepay all or part of any Eurocurrency-based Advance (subject to not less than two (2) Business Days’ notice to Agent); provided that the minimum amount of any such partial prepayment shall be One Million Dollars ($1,000,000), and, after giving effect to any such partial prepayment, the unpaid portion of such Advance which is refunded or converted under Section 2.3 hereof shall be a minimum of Two Million Dollars ($2,000,000); provided, further, however, that if the prepayment of a Eurocurrency-based Advance is made on a day other than the last Business Day of the then current Interest Period applicable to such Eurocurrency-based Advance, then, pursuant to Section 11.1, the Borrower shall compensate the Lenders for any losses.

Appears in 2 contracts

Samples: Credit Agreement (Noble International, Ltd.), Credit Agreement (Noble International, Ltd.)

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Prepayment of Revolving Credit Advances. (a) The Borrower Borrowers may prepay all or part of the outstanding balance of any Prime-based Advance(s) of the Revolving Credit at any time, provided that the amount of any partial prepayment shall be at least One Million Hundred Thousand Dollars ($1,000,000100,000) and, after giving effect to any such partial prepayment, the aggregate Dollar Amount balance of Prime-based Advance(s) of the Revolving Credit remaining outstanding, if any, shall be at least Two Million Five Hundred Thousand Dollars ($2,000,000500,000). The Borrower Borrowers may prepay all or part of any Eurocurrency-based Advance (subject to not less than two (2) Business Days’ notice to Agent); , provided that the minimum amount of any such partial prepayment shall be One Million Dollars ($1,000,000), and, ) and after giving effect to any such partial prepayment, the unpaid portion of such Advance which is refunded or converted under Section 2.3 hereof shall be a minimum of Two at least One Million Dollars ($2,000,0001,000,000); provided, further, however, and provided further that if the prepayment of a Eurocurrency-based Advance is made on a day other than the last Business Day of the then current Interest Period applicable to such Eurocurrency-based Advance, then, pursuant to Section 11.1, the Borrower Borrowers shall compensate the Revolving Credit Lenders for any losses.

Appears in 1 contract

Samples: Revolving Credit Agreement (Capital Automotive Reit)

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Prepayment of Revolving Credit Advances. (a) The Borrower Borrowers may prepay all or part of the outstanding balance of any Prime-based Advance(s) of the Revolving Credit at any time, provided that the amount of any partial prepayment shall be at least One Million Dollars ($1,000,000) and, after giving effect to any such partial prepayment, the aggregate Dollar Amount balance of Prime-based Advance(s) of the Revolving Credit remaining outstanding, if any, shall be at least Two Million Dollars ($2,000,000). The Borrower Borrowers may prepay all or part of any Eurocurrency-based Advance (subject to not less than two (2) Business Days' notice to Agent); ) provided that the minimum amount of any such partial prepayment shall be One Million Dollars ($1,000,000), and, after giving effect to any such partial prepayment, the unpaid portion of such Advance which is refunded or converted under Section 2.3 hereof shall be a minimum of Two Million Dollars ($2,000,000); provided, provided further, however, however that if the prepayment of a Eurocurrency-based Advance is made on a day other than the last Business Day of the then current Interest Period applicable to such Eurocurrency-based Advance, then, pursuant to Section 11.1, the applicable Borrower shall compensate the Lenders for any losses.

Appears in 1 contract

Samples: Revolving Credit Agreement (Plastipak Holdings Inc)

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