Prepayment of the Term Loan. Borrower may prepay all or any portion of the outstanding principal balance of the Term Loan at any time without premium or penalty.
Prepayment of the Term Loan. Borrower may prepay the Term Loan in whole but not in part, at any time, but only after advance written notice to Lender of at least forty-five (45) days provided that no Default or Event of Default shall have occurred and be continuing. If the Loan is prepaid anytime during the term of the Loan, Borrower shall pay to Lender the Minimum Guaranteed Interest. Lender’s acceptance of any prepayment under this Section 2.05 shall not waive any of Lender’s rights and remedies under the Loan Documents arising pursuant to an Event of Default.
Prepayment of the Term Loan. Prepayments on the Term Loan may be made only in accordance with the terms and conditions of the Letter of Offer. The term of the Term Loan is for the benefit of the Lender and of the Borrower. All prepayments will be applied against the last installment or
Prepayment of the Term Loan. Borrower may voluntarily prepay --------------------------- the principal balance of the Term Loan in whole, but not in part, at any time, subject to the following conditions:
Prepayment of the Term Loan. (a) With respect to the Term Loan, Borrower may prepay a Libor Loan only upon at least three (3) Business Days prior written notice to Bank (which notice shall be irrevocable), and any such prepayment shall occur only on the last day of the Interest Period for such Libor Loan. Borrower shall pay to Bank, upon request of Bank, such amount or amounts as shall be sufficient (in the reasonable opinion of Bank) to compensate it for any loss, cost, or expense incurred as a result of: (i) any payment of a Libor Loan on a date other than the last day of the Interest Period for such Loan; and (ii) any failure by Borrower to pay a Libor Loan on the date due. Without limiting the foregoing, Borrower shall pay to Bank a “Libor Loan Prepayment Fee” in an amount computed as follows: The current rate for United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the Interest Period as to which the prepayment is made, shall be subtracted from the Libor Rate in effect at the time of prepayment, plus the margin applicable thereto. If the result is zero or a negative number, there shall be no Libor Loan Prepayment Fee. If the result is a positive number, then the resulting percentage shall be multiplied by the amount of the principal balance being prepaid. The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the Interest Period as to which the prepayment is made. Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the Interest Period as to which prepayment is made. The resulting amount shall be the Libor Loan Prepayment Fee due to Bank upon the prepayment of a Libor Loan. If by reason of an Event of Default, Bank elects to declare the Term Note to be immediately due and payable, then any Libor Loan Prepayment Fee with respect to a Libor Loan shall become due and payable in the same manner as though Borrower had exercised such right of prepayment.
Prepayment of the Term Loan. Borrower may prepay the Term Loan in whole but not in part together with accrued and unpaid interest thereon, and all other amounts due and payable under the Note, this Loan Agreement and the other Loan Documents, at any time, but only after advance written notice to Lender of at least thirty (30) days If the Loan is prepaid in full anytime during the term of the Loan, Borrower shall pay to Lender no less than the Minimum Guaranteed Interest less the amount of the monthly payments of interest paid by Borrower to Lender, plus the Exit Fee plus the then outstanding Obligations. Lender’s acceptance of any prepayment under this Section 2.05 shall not waive any of Lender’s rights and remedies under the Loan Documents arising pursuant to an Event of Default.
Prepayment of the Term Loan. Borrower shall prepay the Term Loan whenever required to assure that the maximum amount of the Term Loan does not exceed the amount prescribed in paragraph 2. In the event Borrower shall sell, collect insurance proceeds on, or otherwise dispose of or realize on any collateral security, other than inventory and trade accounts receivable, granted to Lender, Borrower shall immediately prepay the Term Loan by the full amount of the proceeds so realized (it being understood and agreed that no such collateral security may be sold or otherwise disposed of or realized on except with the written consent of Lender and that Borrower shall pay over and account for all proceeds of inventory and trade accounts receivable as provided in the Credit Agreement). No prepayment under this paragraph 3 shall reduce any monthly installment due on the Term Loan pursuant to paragraph 1.
Prepayment of the Term Loan. Borrower may prepay the Term Loan in whole but not in part together with accrued and unpaid interest thereon, and all other documents due and payable under the Note, this Loan Agreement, and the other Loan Documents, at any time, but only after advance written notice to Lender of at least thirty (30) days, upon payment of the Exit Fee, and provided that no Default or Event of Default shall have occurred and be continuing. Lender’s acceptance of any prepayment under this Section 2.5 shall not waive any of Lender’s rights and remedies under the Loan Documents arising pursuant to an Event of Default.
Prepayment of the Term Loan. During the Amortizing Period, the Borrowers shall have the right to prepay the Principal Amount of the Term Loan on any Business Day as provided herein, upon at least two (2) Business Days' notice to the Bank. Prepayments shall be in the minimum amount of $50,000. Prepayments shall be without premium or penalty. Prepayments will be applied, at Borrowers' option, to installment payments of principal due hereunder in inverse order of or in order of approaching maturity and shall be accompanied by a payment of accrued interest on the Principal Amount prepaid through the date of the prepayment.
Prepayment of the Term Loan. The Commission may prepay any Term Loan in whole, or in part in a minimum amount of $500,000 and in integral multiples of $100,000 in excess thereof, in each case without penalty on one Business Day’s prior written notice.
