Common use of Voluntary prepayment of Loans Clause in Contracts

Voluntary prepayment of Loans. To the extent permitted under the First Lien Credit Agreement, the Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in part; provided that (i) such notice must be received by the Administrative Agent not later than 12:00 p.m., New York time, (A) three Business Days prior to any date of prepayment of LIBO Rate Loans, and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment of LIBO Rate Loans shall be whole multiples of $1,000,000 or a whole multiple of $100,000 in excess thereof; (iii) any prepayment of Base Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $50,000 in excess thereof; and (iv) each prepayment of Loans shall include the applicable Call Premium (if any). Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of such Lender’s Pro Rata Share of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Pro Rata Shares.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Erickson Air-Crane Inc), Second Lien Credit Agreement (Erickson Air-Crane Inc)

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Voluntary prepayment of Loans. To the extent permitted under the First Lien Credit Agreement, the The Borrower may, may upon notice from the Borrower to the Administrative Agent, at any time or from time to time time, voluntarily prepay Loans in whole or in partpart without premium or penalty; provided that (iA) such notice must be received by the Administrative Agent not later than 12:00 p.m., New York time, 11:00 a.m. (Ax) three Business Days prior to any date of prepayment of LIBO Eurodollar Rate Loans, Loans and (By) on the date of prepayment of Base Rate Loans; , (iiB) any prepayment of LIBO Eurodollar Rate Loans shall be whole multiples in a principal amount of $1,000,000 100,000 or a whole multiple of $100,000 in excess thereof; , and (iiiC) any prepayment of Base Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $50,000 100,000 in excess thereof; and (iv) thereof or, in each prepayment of Loans shall include case, if less, the applicable Call Premium (if any)entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall irrevocably make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Eurodollar Rate Loan shall be accompanied by all accrued interest thereonon the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Pro Rata SharesApplicable Percentages; provided that if the Borrower fails to specify the application of a voluntary prepayment then such prepayment shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities.

Appears in 1 contract

Samples: Credit Agreement (HFF, Inc.)

Voluntary prepayment of Loans. To the extent permitted under the First Lien Credit Agreement, the A Borrower may, upon notice from the such Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in partpart without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 12:00 p.m., New York time, 11:00 a.m. (A) three Business Days prior to any date of prepayment of LIBO Rate SOFR Loans, (B) four Business Days prior to any prepayment of any Loans denominated in Alternative Currency, and (BC) on the date of prepayment of Base Rate ABR Loans; (ii) any prepayment of LIBO Rate SOFR Loans shall be in a minimum amount of $500,000 or whole multiples of $1,000,000 or a whole multiple of $100,000 in excess thereof; (iii) any prepayment of Base Rate ABR Loans shall be in a principal amount of $100,000 500,000 or a whole multiple of $50,000 100,000 in excess thereof; and (iv) each any prepayment of Loans denominated in Alternative Currency shall include be in a minimum amount equal to the applicable Call Premium (Alternative Currency Equivalent of $500,000 or whole multiples of $100,000 in excess thereof; or, in each of the foregoing cases, if any)less, the entire principal amount thereof then outstanding. Each such notice shall specify the date date, currency and amount of such prepayment and the Type(s) of Loans to be prepaid and, if SOFR Loans, Eurocurrency Rate Loans or CDOR Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share Applicable Percentage of such prepayment. If such notice is given by the Borrower, the The applicable Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Rate Loan shall be accompanied by all accrued interest thereonon the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their the Lenders’ respective Pro Rata Shares.Applicable Percentages. ​ ​

Appears in 1 contract

Samples: Credit Agreement (Allied Motion Technologies Inc)

Voluntary prepayment of Loans. To the extent permitted under the First Lien Credit Agreement, the A Borrower may, upon notice from the such Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in partpart without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 12:00 p.m., New York time, 11:00 a.m. (A) three Business Days prior to any date of prepayment of LIBO Rate LoansLibor Loans denominated in Dollars, (B) four Business Days prior to any prepayment of any Loans denominated in Alternative Currency, and (BC) on the date of prepayment of Base Rate ABR Loans; (ii) any prepayment of LIBO Rate Libor Loans denominated in Dollars shall be in a minimum amount of $2,000,000 or whole multiples of $1,000,000 500,000 in excess thereof; (iii) any prepayment of ABR Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof; and (iiiiv) any prepayment of Base Rate Loans denominated in Alternative Currency shall be in a principal minimum amount equal to the Alternative Currency Equivalent of $100,000 2,000,000 or a whole multiple multiples of $50,000 500,000 in excess thereof; and (iv) or, in each prepayment of Loans shall include the applicable Call Premium (foregoing cases, if any)less, the entire principal amount thereof then outstanding. Each such notice shall specify the date date, currency and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Libor Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share Applicable Percentage of such prepayment. If such notice is given by the Borrower, the The applicable Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Rate Libor Loan shall be accompanied by all accrued interest thereonon the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their the Lenders’ respective Pro Rata SharesApplicable Percentages.

Appears in 1 contract

Samples: Credit Agreement (Allied Motion Technologies Inc)

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Voluntary prepayment of Loans. To the extent permitted under the First Lien Credit Agreement, the A Borrower may, upon notice from the such Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay Loans in whole or in partpart without premium or penalty; provided that (i) such notice must be received by the Administrative Agent not later than 12:00 p.m., New York time, 11:00 a.m. (A) three Business Days prior to any date of prepayment of LIBO Rate LoansLibor Loans denominated in Dollars, (B) four Business Days prior to any prepayment of any Loans denominated in Alternative Currency, and (BC) on the date of prepayment of Base Rate ABR Loans; (ii) any prepayment of LIBO Rate Libor Loans denominated in Dollars shall be in a minimum amount of $500,000 or whole multiples of $1,000,000 or a whole multiple of $100,000 in excess thereof; (iii) any prepayment of Base Rate ABR Loans shall be in a principal amount of $100,000 500,000 or a whole multiple of $50,000 100,000 in excess thereof; and (iv) each any prepayment of Loans denominated in Alternative Currency shall include be in a minimum amount equal to the applicable Call Premium (Alternative Currency Equivalent of $500,000 or whole multiples of $100,000 in excess thereof; or, in each of the foregoing cases, if any)less, the entire principal amount thereof then outstanding. Each such notice shall specify the date date, currency and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Libor Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Pro Rata Share Applicable Percentage of such prepayment. If such notice is given by the Borrower, the The applicable Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBO Rate Libor Loan shall be accompanied by all accrued interest thereonon the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their the Lenders’ respective Pro Rata SharesApplicable Percentages.

Appears in 1 contract

Samples: Credit Agreement (Allied Motion Technologies Inc)

Voluntary prepayment of Loans. To (a) The Company shall have the extent permitted under the First Lien Credit Agreement, the Borrower may, upon notice from the Borrower to the Administrative Agent, right at any time or and from time to time voluntarily to prepay Loans any Borrowing in whole or in part; , without premium or penalty, except as provided that in Section 2.25, subject to prior notice in accordance with paragraph (b) of this Section. (b) The Company shall notify the Administrative Agent by telephone (confirmed by facsimile or electronic mail) of any prepayment hereunder (i) such notice must be received by in the Administrative Agent case of prepayment of a Eurodollar Borrowing, not later than 12:00 p.m.noon, New York City time, (A) three Business Days prior to any before the date of prepayment or (ii) in the case of LIBO Rate Loansprepayment of an ABR Borrowing, and (B) not later than 12:00 noon, New York City time, on the date of prepayment of Base Rate Loans; (ii) any prepayment of LIBO Rate Loans shall be whole multiples of $1,000,000 or a whole multiple of $100,000 in excess thereof; (iii) any prepayment of Base Rate Loans shall be in a principal amount of $100,000 or a whole multiple of $50,000 in excess thereof; and (iv) each prepayment of Loans shall include the applicable Call Premium (if any)prepayment. Each such notice shall be irrevocable (unless given in connection with a Conditional Termination Notice, as set forth in Section 2.09, in which case, subject to Section 2.25, such notice of prepayment may be revoked if such Conditional Termination Notice is revoked in accordance with Section 2.09) and shall specify the date prepayment date, the Borrowing or Borrowings which are to be prepaid and the principal amount of such prepayment and the Type(s) of Loans each Borrowing or portion thereof to be prepaid. The Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent will promptly notify each Lender shall advise the Lenders of its receipt the contents thereof. Each partial prepayment of each such notice, and of such Lender’s Pro Rata Share of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice any Borrowing shall be due and payable on in an amount that would be permitted in the date specified thereincase of an advance of a Borrowing of the same Type as provided in Section 2.17. Any Each prepayment of a LIBO Rate Loan Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Pro Rata Sharesextent required by Section 2.23. SECTION 2.23.

Appears in 1 contract

Samples: Agreement (Validus Holdings LTD)

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