Common use of Specified Prepayment Clause in Contracts

Specified Prepayment. On or prior to the earlier of (i) the date that is 210 days from the Closing Date and (ii) the date that is three (3) Business Days after (and in any event, promptly) after receipt of Net Proceeds in respect of the East and West ▇▇▇▇▇ Sale, the Borrowers shall make one or more mandatory prepayments of the Term Loans (collectively, the "Specified Prepayment") designated by Borrowers to be in respect of the prepayment required by this Section 2.03(c)(vii) (and not in respect of any other mandatory prepayment required by this Section 2.03(c)) in increments of not less than $1,000,000 for any Specified Prepayment, and in an aggregate amount for all Specified Prepayments equal to $15,000,000 (which shall not be subject to the payment of the Make-Whole Amount).

Appears in 1 contract

Sources: Loan Agreement (Orion Group Holdings Inc)

Specified Prepayment. On or prior to the earlier of (i) the date that is 210 days from the Closing Date June 30, 2024 and (ii) the date that is three (3) Business Days after (and in any event, promptly) after receipt of Net Proceeds in respect of the East and West ▇▇▇▇▇ Sale, the Borrowers shall make one or more mandatory prepayments of the Term Loans (collectively, the "Specified Prepayment") designated by Borrowers to be in respect of the prepayment required by this Section 2.03(c)(vii) (and not in respect of any other mandatory prepayment required by this Section 2.03(c)) in increments of not less than $1,000,000 for any Specified Prepayment, and in an aggregate amount for all Specified Prepayments equal to $15,000,000 (which shall not be subject to the payment of the Make-Whole Amount).. ​

Appears in 1 contract

Sources: Loan Agreement (Orion Group Holdings Inc)