Common use of Prepayment; termination of Commitments Clause in Contracts

Prepayment; termination of Commitments. A notice under Clause 5.12 shall be irrevocable; the Agent shall promptly notify the Lenders or (as the case may require) the Affected Lender of the Borrowers' notice of intended prepayment; and: (a) on the date on which the Agent serves that notice, the Total Commitments or (as the case may require) the Commitment of the Affected Lender shall be cancelled; and (b) on the date specified in its notice of intended prepayment, the Borrowers shall prepay, subject to the prepayment fee requirements set forth in Clause 8.15, the Loan or, as the case may be, the Affected Lender's Contribution, together with accrued interest thereon at the applicable rate plus the applicable Margin and Mandatory Costs (if any) and, if the prepayment or repayment is not made on the last day of the interest period set by the Agent, any sums payable in respect of Breakage Costs.

Appears in 1 contract

Sources: Loan Agreement (Dynagas LNG Partners LP)

Prepayment; termination of Commitments. A notice under Clause 5.12 6.11 (Notice of prepayment) shall be irrevocable; the Agent shall promptly notify the Lenders or (as the case may require) the Affected Lender and, if the Fixed Interest Rate has been selected by the Borrower, SIMEST of the Borrowers' Borrower’s notice of intended prepayment; and: (a) on the date on which the Agent serves that notice, the Total Commitments or (as the case may require) the Commitment of the Affected Lender shall be cancelled; and (b) on the date specified in its notice last Business Day of intended prepaymentthe interest period set by the Agent, the Borrowers Borrower shall prepay, prepay (without premium or penalty subject to the prepayment fee requirements set forth in provisions of Clause 8.15, 20.2 (Breakage costs)) the Loan or, as the case may be, the Affected Lender's ’s Contribution, together with accrued interest thereon at the applicable rate plus (being either the applicable Margin and Mandatory Costs (if any) and, if Floating Interest Rate or the prepayment or repayment is not made on the last day of the interest period set Fixed Interest Rate as specified by the Agent, any sums payable in respect of Breakage CostsBorrower pursuant to Clause 3.5(a)(ii).

Appears in 1 contract

Sources: Loan Agreement (Prestige Cruises International, Inc.)

Prepayment; termination of Commitments. A notice under Clause 5.12 6.11 (Notice of prepayment) shall be irrevocable; the Agent shall promptly notify the Lenders or (as the case may require) the Affected Lender and, if the Fixed Interest Rate has been selected by the Borrower, SIMEST of the Borrowers' Borrower's notice of intended prepayment; and: (a) on the date on which the Agent serves that notice, the Total Commitments or (as the case may require) the Commitment of the Affected Lender shall be cancelled; and (b) on the date specified in its notice last Business Day of intended prepaymentthe interest period set by the Agent, the Borrowers Borrower shall prepay, prepay (without premium or penalty subject to the prepayment fee requirements set forth in provisions of Clause 8.15, 20.2 (Breakage costs)) the Loan or, as the case may be, the Affected Lender's Contribution, together with accrued interest thereon at the applicable rate plus (being either the applicable Margin and Mandatory Costs (if any) and, if Floating Interest Rate or the prepayment or repayment is not made on the last day of the interest period set Fixed Interest Rate as specified by the Agent, any sums payable in respect of Breakage CostsBorrower pursuant to Clause 3.5(a)(ii).

Appears in 1 contract

Sources: Loan Agreement (Seven Seas Cruises S. DE R.L.)

Prepayment; termination of Commitments. A notice under Clause 5.12 5.13 shall be irrevocable; the Agent shall promptly notify the Lenders or (as the case may require) the Affected Lender of the Borrowers' Borrower's notice of intended prepayment; and: (a) on the date on which the Agent serves that notice, the Total Commitments or (as the case may require) the Commitment of the Affected Lender shall be cancelledcancelled (with such cancellation to be applied against the Acquisition Facility and the Working Capital Facility pro rata to their respective amounts); and (b) on the date specified in its notice last Business Day of intended prepaymentthe interest period set by the Agent, the Borrowers Borrower shall prepay, subject to the prepayment fee requirements set forth in Clause 8.15, prepay (without premium or penalty) the Loan or, as the case may be, the Affected Lender's Contribution, together with accrued interest thereon at the applicable rate plus the applicable Margin and plus the Mandatory Costs Cost (if any) and, if the prepayment or repayment is not made on the last day of the interest period set by the Agent, any sums payable in respect of Breakage Costs).

Appears in 1 contract

Sources: Loan Agreement (Crude Carriers Corp.)