Common use of RIGHT TO REPAY Clause in Contracts

RIGHT TO REPAY. The Borrower and the Co-Borrower shall have the right at their option from time to time to pay the Loans in whole or part without premium or penalty, except for such premiums, penalties and other payments provided for in Section 5.4.3 below or in Section 5.6: (i) at any time with respect to any Loan to which the Base Rate Option or Euro-Rate Option applies; (ii) on the date specified in a notice by any Lender pursuant to Section 4.4 [Euro-Rate Unascertainable] with respect to any Loan to which a Euro-Rate Option applies. Whenever the Borrower and the Co-Borrower desire to repay any part of the Loans, they shall provide a repayment notice to the Administrative Agent at least one (1) Business Day prior to the date of repayment of the Revolving Credit Loans or the Term Loans setting forth the following information:

Appears in 2 contracts

Sources: Credit Agreement (Rent Way Inc), Credit Agreement (Rent Way Inc)