Common use of Prepayments of Loans Clause in Contracts

Prepayments of Loans. Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Term SOFR Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. From the Amendment No. 1 Effective Date until the 2026 Termination Date, each such optional prepayment shall be applied to prepay ratably the 2026 Revolving Loans and the 2027 Revolving Loans and following the 2026 Termination Date, each such optional prepayment shall be applied to prepay ratably the 2027 Revolving Loans of the several 2027 Revolving Lenders. (b)

Appears in 3 contracts

Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/), Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)

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Prepayments of Loans. Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Term SOFR Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. From the Amendment No. 1 Effective Date until the 2026 Termination Date, each such optional prepayment shall be applied to prepay ratably the 2026 Revolving Loans and the 2027 Revolving Loans and following the 2026 Termination Date, each such optional prepayment shall be applied to prepay ratably the 2027 Revolving Loans of the several 2027 Revolving Lenders. (b).

Appears in 2 contracts

Samples: Revolving Credit Agreement, Revolving Credit Agreement

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Prepayments of Loans. Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the each Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Term SOFR Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. From the Amendment No. 1 Effective Date until the 2026 Termination Date, each such optional prepayment shall be applied to prepay ratably the 2026 Revolving Loans and the 2027 Revolving Loans and following the 2026 Termination Date, each such optional prepayment shall be applied to prepay ratably the 2027 Revolving Loans of the several 2027 Revolving Lenders. (b)

Appears in 1 contract

Samples: Revolving Credit Agreement (Louisville Gas & Electric Co /Ky/)

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