Repayments and Prepayments Clause Samples
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Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each Loan and Cash-Collateralize the LC Obligations in full on the Commitment Termination Date. Prior thereto, the Borrower:
(a) may, from time to time on any Business Day, make a prepayment, in whole or in part, of the outstanding principal amount of any Loans; provided, however, that, (i) unless otherwise consented to by Administrator, all such voluntary prepayments shall require at least two (2) Business Days’ (or, in the case of a voluntary prepayment of $10,000,000 or more, at least seven (7) Business Days’) prior written notice to Administrator, which notice shall be substantially in the form of Exhibit F hereto, (ii) unless otherwise consented to by Administrator, all such voluntary partial prepayments shall be in a minimum amount of $1,000,000 and an integral multiple of $100,000, and (iii) unless and until the aggregate outstanding principal balance of the Loans hereunder is less than 10% of the highest amount ever borrowed hereunder, no such prepayment may be made with any funds other than (A) Collections and (B) the Borrower’s initial paid-in cash capital (if any then remains);
(b) shall, on each date when any reduction in the Facility Limit shall become effective pursuant to Section 2.7, make a prepayment of the Loans and/or Cash-Collateralize the LC Obligations, in an amount equal to the excess, if any, of the Credit Exposure over the Facility Limit as so reduced;
(c) shall, immediately upon any acceleration of the Scheduled Commitment Termination Date of any Loans pursuant to Section 10.3, repay all Loans and Cash-Collateralize the LC Obligations, unless, pursuant to Section 10.3(a), only a portion of the Credit Exposure is so accelerated, in which event the Borrower shall repay the accelerated portion of the Loans and Cash-Collateralize the accelerated portion of the LC Obligations; and
(d) shall, immediately upon discovering that a Borrowing Base Deficit exists, make a prepayment of the Loans and/or Cash-Collateralize the LC Obligations in an amount equal to such Borrowing Base Deficit. Each such prepayment shall be subject to the payment of any amounts required by Section 6.2.
Repayments and Prepayments. The Borrower shall repay the Loans in fourteen equal semi-annual installments on the last day of each Interest Period, as set forth on Schedule II hereto. In addition, the Borrower
(a) may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided that
(i) any such prepayment shall be made pro rata among all Loans and applied in inverse order of maturity;
(ii) all such voluntary prepayments shall require at least three Business Days (or, if such prepayment is to be made on the last day of an Interest Period for the Loans, two Business Days) prior written notice to the Administrative Agent; and
(iii) all such voluntary partial prepayments shall be in an aggregate minimum amount of $10,000,000 and a multiple of $1,000,000 (or the remaining amount of the Loans being prepaid); and
(b) shall, immediately upon any acceleration of the Stated Maturity Date of the Loans pursuant to Section 8.2 or 8.3 or the mandatory repayment of the Loans pursuant to Section 9.2, repay all Loans. Each prepayment of any Loans made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4, provided that any prepayment under this Agreement shall be made subject to payment by the Borrower to the Administrative Agent (for the account of the FEC Counterparty) of any FEC Break Costs on written demand by the FEC Counterparty, which demand shall set forth the amount of the FEC Break Costs and reasonably detailed calculations thereof.
Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each Revolving Loan upon the Revolving Loan Maturity Date. Prior thereto, payments and prepayments of Revolving Loans shall or may be made as set forth below.
(a) The Borrower shall make the following principal reductions on the last day of each Fiscal Quarter during each of the following periods:
(i) during Fiscal Year 2002 None
(ii) during Fiscal Year 2003 None
(iii) during Fiscal Year 2004 quarterly payments equal to thirteen and three-quarters percent (13.75%) of the outstanding principal balance of the Revolving Loans as of December 31, 2003
(iv) during Fiscal Year 2005 quarterly payments equal to twenty-five percent (25%) of the outstanding principal balance of the Revolving Loans as of December 31, 2004
(iv) on December 31, 2005 one hundred percent (100%) of the then outstanding principal balance of the Revolving Loans and all accrued interest Repayments under Section 3.1(a) shall permanently reduce the Revolving Loan Commitment Amount in the amount of each required principal payment as of the date that such payment is required to be made, and the Letter of Credit Commitment Amount shall be correspondingly reduced.
(b) From time to time on any Business Day, the Borrower may make a voluntary prepayment, in whole or in part, of the outstanding principal amount of any Revolving Loan, provided, however, that:
(i) all such voluntary prepayments shall require at least three (3) but no more than seven (7) Business Days’ prior written notice to the Lender; and
(ii) all such voluntary partial prepayments shall be in an aggregate minimum amount of One Million Dollars ($1,000,000) and an integral multiple of Five Hundred Thousand Dollars ($500,000).
(c) Subject to Section 2.1(a), on each date when the sum of the aggregate outstanding principal amount of all Revolving Loans exceeds the Revolving Loan Commitment Amount (as it may be reduced from time to time, including pursuant to Section 2.2) less the Letter of Credit Outstandings and the Lender Guaranty Disbursements (the amount of such excess being an “Overadvance”), the Borrower shall make a mandatory prepayment of the Overadvance, together with accrued interest thereon.
(d) Concurrently with the receipt (or deemed receipt) of any Net Proceeds or any insurance proceeds or condemnation proceeds (or after the expiration of any period designated for the purchase of Qualified Assets, if appropriate) by the Borrower or any of its Subsidiaries, the Bo...
Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each Loan upon the Stated Maturity Date therefor. Prior thereto, the Borrower
Repayments and Prepayments. 47 3.1.2. Application.....................................................51 3.2.
Repayments and Prepayments. (a) The Borrower hereby unconditionally promises to pay on the Maturity Date, to the Administrative Agent for the account of each Lender, the then unpaid principal amount of each Loan made by such Lender to the Borrower.
(b) The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Administrative Agent no later than 11:00 A.M., New York City time, three Business Days prior thereto, in the case of Eurodollar Loans, and no later than 11:00 A.M., New York City time, on the prepayment date, in the case of ABR Loans, which notice shall specify the date and amount of prepayment and whether the prepayment is of Eurodollar Loans or ABR Loans; provided, that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.14. Upon receipt of any such notice the Administrative Agent shall promptly notify each Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to such date on the amount prepaid. Partial prepayments of Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof (it being agreed that the failure of the Borrower to make any such voluntary prepayment on such date shall not result in an Event of Default and that the sole remedy with respect to such failure shall be the obligation to pay any amounts which may become owing as a result of such failure pursuant to Section 2.14).
Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of the Loan on the Maturity Date. Prior thereto, payments and prepayments of the Loan shall be made as set forth below.
(a) Subject to the terms of Section 3.6 and Section 3.7, the Borrower shall have the right, with at least three Business Days’ prior written notice to the Lender, at any time and from time to time to prepay any unpaid principal amount of the Loan, in whole or in part.
(b) Within five Business Days of receipt by any Loan Party or any Subsidiary thereof of any (i) Net Casualty Proceeds or (ii) Net Asset Sales Proceeds, the Borrower shall notify the Lender thereof. If requested by the Lender, the Borrower shall within five Business Days of such request make a mandatory prepayment of the Loan, in an amount equal to 100% of such proceeds (or such lesser amount as the Lender may specify on the date of such request), to be applied to the outstanding principal amount of the Loan and the Borrower shall concurrently pay the accrued and unpaid interest on such amount; provided, however, that no such payment shall be required on account of Net Casualty Proceeds that are intended to be reinvested in the ordinary course of the Loan Parties’ business within 180 days in replacement equipment or real property used or useful in their business, so long as such proceeds are held in a deposit account subject to a perfected security interest of Lender; provided, further, that if such Net Casualty Proceeds have not in fact been so re-invested at the expiration of such 180 day period than any such Net Casualty Proceeds shall be paid to Lender as provided herein at such time.
(c) In the event that there shall be Excess Cash Flow for any Fiscal Quarter (commencing with Fiscal Quarter ending June 30, 2015), Borrower shall, if requested by the Lender, no later than forty-five (45) days plus five (5) Business Days after the end of such Fiscal Quarter, prepay the unpaid principal amount of the Loan in an aggregate principal amount equal to the Applicable Percent of such Excess Cash Flow (or any lesser amount requested by the Lender); provided that no payments under this Section 3.2(c) shall be subject to the premiums or exit fees due under Section 3.6 and Section 3.7.
(d) The Borrower shall repay the Loan in full immediately upon any acceleration of the Maturity Date thereof pursuant to Section 9.2 or Section 9.3, unless, pursuant to Section 9.3, only a portion of the Loan is so accelerated (in which case th...
Repayments and Prepayments. The Borrower shall make payments of unpaid principal of each Loan on each Payment Date to the extent provided in the Priority of Payments and Article IX of the Indenture.
Repayments and Prepayments. Any amount of the Term Loans that is subsequently repaid or prepaid may not be reborrowed.
Repayments and Prepayments. The Borrower shall repay in full the unpaid principal amount of each Loan upon the Stated Maturity Date therefor and pursuant to Section 8.2 and Section 8.3. Prior thereto, repayments and prepayments of Loans shall be made as set forth in this Section 3.1.