Common use of Prepayments Permitted Clause in Contracts

Prepayments Permitted. The Borrower may prepay the Term Loan in whole or in part on or after October 1, 2015, provided that (i) any prepayment shall be made only on an Interest Payment Date and in an amount of not less than $500,000.00 and (ii) the Borrower shall have given the Lender at least five (5) Business Days prior written notice of such prepayment, which notice shall be irrevocable, and shall obligate the Borrower to make such prepayment on the date indicated in such notice. To the extent any permitted prepayments shall be made hereunder, such prepayments shall be applied (i) first, to any outstanding fees, costs or expenses, (ii) second, to any accrued but unpaid interest, and (iii) third, to principal payments coming due in the inverse order of maturity. Amounts repaid shall not be reborrowed. The Borrower shall at the time of each prepayment pay all accrued interest on the principal amount being prepaid and the Lender's costs, expenses and losses incurred by reason of such prepayment, as provided in Sections 8 of this Agreement.

Prepayments Permitted. The Borrower may prepay the Term Loan in whole or in part on or after October December 1, 2015, provided that (i) any prepayment shall be made only on an Interest Payment Date and in an amount of not less than $500,000.00 and (ii) the Borrower shall have given the Lender at least five (5) Business Days prior written notice of such prepayment, which notice shall be irrevocable, and shall obligate the Borrower to make such prepayment on the date indicated in such notice. To the extent any permitted prepayments shall be made hereunder, such prepayments shall be applied (i) first, to any outstanding fees, costs or expenses, (ii) second, to any accrued but unpaid interest, and (iii) third, to principal payments coming due in the inverse order of maturity. Amounts repaid shall not be reborrowed. The Borrower shall at the time of each prepayment pay all accrued interest on the principal amount being prepaid and the Lender's costs, expenses and losses incurred by reason of such prepayment, as provided in Sections 8 of this Agreement.

Prepayments Permitted. The Borrower may prepay the Term Loan in whole or in part on or after October 1, 2015part, provided that (i) any prepayment shall be made only on an Interest Payment Date and in an amount of not less than $500,000.00 and (ii) the Borrower shall have given the Lender at least five (5) Business Days prior written notice of such prepayment, which notice shall be irrevocable, and shall obligate the Borrower to make such prepayment on the date indicated in such notice. To the extent any permitted prepayments shall be made hereunder, such prepayments shall be applied (i) first, to any outstanding fees, costs or expenses, (ii) second, to any accrued but unpaid interest, and (iii) third, to principal payments coming due in the inverse order of maturity. Amounts repaid shall not be reborrowed. The Borrower shall at the time of each prepayment pay all accrued interest on the principal amount being prepaid and the Lender's costs, expenses and losses incurred by reason of such prepayment, as provided in Sections 8 of this Agreement.

Prepayments Permitted. The Borrower may prepay the Term Loan in whole or in part on or after October 1November 2, 2015, provided that (i) any prepayment shall be made only on an Interest Payment Date and in an amount of not less than $500,000.00 and (ii) the Borrower shall have given the Lender at least five (5) Business Days prior written notice of such prepayment, which notice shall be irrevocable, and shall obligate the Borrower to make such prepayment on the date indicated in such notice. To the extent any permitted prepayments shall be made hereunder, such prepayments shall be applied (i) first, to any outstanding fees, costs or expenses, (ii) second, to any accrued but unpaid interest, and (iii) third, to principal payments coming due in the inverse order of maturity. Amounts repaid shall not be reborrowed. The Borrower shall at the time of each prepayment pay all accrued interest on the principal amount being prepaid and the Lender's costs, expenses and losses incurred by reason of such prepayment, as provided in Sections 8 of this Agreement.