Common use of Voluntary Prepayment; No Re-borrowing Clause in Contracts

Voluntary Prepayment; No Re-borrowing. The Borrowers may prepay, upon ten (10) Banking Days written notice, any outstanding Advance or any portion thereof, without penalty, provided that if such prepayment is made on a day other than the last day of the Interest Period of such Advance such prepayment shall be made together with the costs and expenses provided for in Section 5.4. Each prepayment shall be in a minimum amount of One Million Dollars ($1,000,000) plus any One Million Dollar ($1,000,000) multiple thereof or the full amount of the then outstanding Tranches. Prepayments shall be applied to the remaining payments on a pro-rata basis and will not be available for re-borrowing.

Appears in 1 contract

Samples: Senior Secured Term Credit Facility Agreement (Top Ships Inc.)

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Voluntary Prepayment; No Re-borrowing. The Borrowers Borrower may prepay, upon ten five (105) Banking Days written notice, any the outstanding Advance amount of the Loan or any portion thereof, without penalty, provided that if such prepayment is made on a day other than the last day of the Interest Period of such Advance such prepayment shall be made together with the costs and expenses provided for in Section 5.4. Each prepayment shall be in a minimum amount of One Million Dollars ($1,000,000) plus any One Million Five Hundred Thousand Dollar ($1,000,000500,000) multiple thereof or the full amount of the Loan then outstanding Tranchesoutstanding. Prepayments shall be applied to the remaining payments on a pro-rata basis installments in the inverse order of their due date for payment and will not be available for re-borrowing.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Voluntary Prepayment; No Re-borrowing. The Borrowers may prepay, upon ten (10) Banking Days written notice, any outstanding Advance or any portion thereof, without penalty, provided that if such prepayment is made on a day other than the last day of the Interest Period of such Advance such prepayment shall be made together with the costs and expenses provided for in Section 5.4. Each prepayment shall be in a minimum amount of One Million Five Hundred Thousand Dollars ($1,000,000500,000) plus any One Million Five Hundred Thousand Dollar ($1,000,000500,000) multiple thereof or the full amount of the then outstanding TranchesAdvances. Prepayments shall be applied to the remaining payments on a pro-rata basis and will not be available for re-borrowing.

Appears in 1 contract

Samples: Credit Facility Agreement (Top Tankers Inc.)

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Voluntary Prepayment; No Re-borrowing. The Borrowers may prepay, upon ten seven (107) Banking Days written notice, any outstanding Advance or any portion thereof, without penalty, provided that if such prepayment is made on a day other than the last day of the Interest Period of such Advance such prepayment shall be made together with the costs and expenses provided for in Section 5.45.5. Each prepayment shall be in a minimum amount of One Million Dollars ($1,000,000) plus any One Million Dollar ($1,000,000) multiple thereof or the full amount of the then outstanding Tranches. Prepayments shall be applied to the remaining payments on a pro-rata basis and will not be available for re-borrowing.

Appears in 1 contract

Samples: Senior Secured Term Credit Facility Agreement (Top Ships Inc.)

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