Common use of Voluntary Prepayments of Borrowings Clause in Contracts

Voluntary Prepayments of Borrowings. (i) Subject to clause (ii) below, the Company may, on any Business Day, upon notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice to the Administrative Agent, in the case of Eurocurrency Rate Advances, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any Class, and if such notice is given the Company shall prepay such stated amount; provided, however, that (A) each partial prepayment shall be in an aggregate principal amount not less than the Borrowing Minimum and integral multiples of the Borrowing Multiple in excess thereof, (B) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (C) without limiting the Company’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment in which case such notice may be revoked or extended by the Company (by notice to the Administrative Agent on or prior to the specified prepayment date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid.

Appears in 3 contracts

Samples: Credit Agreement (Perspecta Inc.), Credit Agreement (Perspecta Inc.), Credit Agreement (Perspecta Inc.)

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Voluntary Prepayments of Borrowings. (i) Subject to clause (ii) below, the Company may, on any Business Day, upon notice to the Administrative applicable Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice to the Administrative applicable Agent, in the case of Eurocurrency Rate Advances, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any Class, and if such notice is given the Company shall prepay such stated amount; provided, however, that (A) each partial prepayment shall be in an aggregate principal amount not less than the Borrowing Minimum and integral multiples of the Borrowing Multiple in excess thereof, (B) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (C) without limiting the Company’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment in which case such notice may be revoked or extended by the Company (by notice to the Administrative applicable Agent on or prior to the specified prepayment date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid.

Appears in 2 contracts

Samples: Credit Agreement (CSRA Inc.), Credit Agreement (CSRA Inc.)

Voluntary Prepayments of Borrowings. The Borrower shall not have any right to prepay any principal amount of the Advances other than as provided in this subsection (i) Subject to clause (ii) below, the Company b). The Borrower may, at any time after the Funding Date on any Business Day, and upon irrevocable notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice Days prior to the Administrative Agent, proposed date of prepayment in the case of Eurocurrency Rate Advances, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any Class, and if such notice is given the Company Borrower shall prepay such stated principal amount; provided, however, that (Ai) each partial prepayment shall be in an aggregate principal amount of not less than (A) in the Borrowing Minimum case of Tranche A1 Advances, US$10,000,000 or an integral multiple of US$1,000,000 in excess thereof and (B) in the case of Tranche A2 Advances and Tranche A3 Advances, €10,000,000 or an integral multiples multiple of the Borrowing Multiple €1,000,000 in excess thereof, (Bii) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company Borrower shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (Ciii) without limiting the CompanyBorrower’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment prepayment, in which case such notice may be revoked or extended by the Company Borrower (by notice to the Administrative Agent on or prior to the specified prepayment effective date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid.

Appears in 1 contract

Samples: Term Loan Credit Agreement (DXC Technology Co)

Voluntary Prepayments of Borrowings. The Borrower shall not have any right to prepay any principal amount of the Advances other than as provided in this subsection (i) Subject to clause (ii) below, the Company b). The Borrower may, at any time after the Funding Date on any Business Day, and upon irrevocable notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice Days prior to the Administrative Agent, in the case proposed date of Eurocurrency Rate Advancesprepayment, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any ClassAdvances, and if such notice is given the Company Borrower shall prepay such stated principal amount; provided, however, that (Ai) each partial prepayment shall be in an aggregate principal amount of not less than the Borrowing Minimum and €10,000,000 or an integral multiples multiple of the Borrowing Multiple €1,000,000 in excess thereof, (Bii) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company Borrower shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (Ciii) without limiting the CompanyBorrower’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment prepayment, in which case such notice may be revoked or extended by the Company Borrower (by notice to the Administrative Agent on or prior to the specified prepayment effective date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid.

Appears in 1 contract

Samples: Term Loan Credit Agreement (DXC Technology Co)

Voluntary Prepayments of Borrowings. The Borrower shall not have any right to prepay any principal amount of the Advances other than as provided in this subsection (i) Subject to clause (ii) below, the Company b). The Borrower may, at any time after the Funding Date on any Business Day, and upon irrevocable notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice Days prior to the Administrative Agent, proposed date of prepayment in the case of Eurocurrency Rate Advances, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any Class, and if such notice is given the Company Borrower shall prepay such stated principal amount; provided, however, that (Ai) each partial prepayment shall be in an aggregate principal amount of not less than (A) in the Borrowing Minimum case of Tranche A1 Advances and Tranche A2 Advances, US$10,000,000 or an integral multiples multiple of US$1,000,000 in excess thereof and (B) in the Borrowing Multiple case of Tranche A3 Advances, €10,000,000 or an integral multiple of €1,000,000 in excess thereof, (Bii) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company Borrower shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (Ciii) without limiting the CompanyBorrower’s obligations under Section 9.04(b), a notice of 30 prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment prepayment, in which case such notice may be revoked or extended by the Company Borrower (by notice to the Administrative Agent on or prior to the specified prepayment effective date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid.

Appears in 1 contract

Samples: Credit Agreement (Hewlett Packard Enterprise Co)

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Voluntary Prepayments of Borrowings. The Borrower shall not have any right to prepay any principal amount of any Advances other than as provided in this subsection (i) Subject to clause (ii) below, the Company b). The Borrower may, on any Business Day, prepay any Advances, upon notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and Advances or at least two three U.S. Government Securities Business Days’ notice to the Administrative Agent, in the case of Eurocurrency Reference Rate Advances, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any Class, and if such notice is given the Company Borrower shall prepay such stated amount; provided, however, that (Ai) each partial prepayment shall be in an aggregate principal amount not less than the Borrowing Minimum and integral multiples of the Borrowing Multiple in excess thereof, thereof and (Bii) in the case of any such prepayment of any Eurocurrency Reference Rate Advance, the Company Borrower shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Reference Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (C) without limiting the Company’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment in which case such notice may be revoked or extended by the Company (by notice to the Administrative Agent on or prior to the specified prepayment date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid; provided that, and without limiting the Borrower’s obligations under Section 9.04(b), a notice of prepayment may state that such notice is conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment, in which case, such notice may be revoked or extended by the Borrower (by notice to the Agent on or prior to the specified effective date) if such condition is not satisfied.

Appears in 1 contract

Samples: Term Loan Credit Agreement (DXC Technology Co)

Voluntary Prepayments of Borrowings. The Borrower shall not have any right to prepay any principal amount of the Advances other than as provided in this subsection (i) Subject to clause (ii) below, b). The Borrower may at any time after the Company may, Funding Date on any Business Day, and upon irrevocable notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice Days prior to the Administrative Agent, in the case proposed date of Eurocurrency Rate Advancesprepayment, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any ClassAdvances, and if such notice is given the Company Borrower shall prepay such stated principal amount; provided, however, that (Ai) each partial prepayment shall be in an aggregate principal amount of not less than the Borrowing Minimum and €10,000,000 or an integral multiples multiple of the Borrowing Multiple €1,000,000 in excess thereof, (Bii) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company Borrower shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (Ciii) without limiting the CompanyBorrower’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment prepayment, in which case such notice may be revoked or extended by the Company Borrower (by notice to the Administrative Agent on or prior to the specified prepayment effective date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid; and provided, further, that any prepayment of Advances prior to March 31, 2018 shall be accompanied by a prepayment premium in an amount equal to 0.50% of the principal amount so prepaid, which shall be payable to the Administrative Agent for the ratable account of the Lenders.

Appears in 1 contract

Samples: Term Loan Credit Agreement (DXC Technology Co)

Voluntary Prepayments of Borrowings. The Company shall not have any right to prepay any principal amount of any Advance other than as provided in this subsection (ib) Subject to clause (ii) below, the or as otherwise expressly provided in this Agreement. The Company may, on any Business Day, upon notice to the Administrative Agent provided not later than 12:00 noon (New York City time) on such Business Day, in the case of Base Rate Advances, and at least two Business Days’ notice to the Administrative Agent, in the case of Eurocurrency Rate Advances, in each case stating the proposed date and aggregate principal amount of the prepayment, prepay the Advances of any ClassAdvances, and if such notice is given the Company shall prepay such stated principal amount; provided, however, that (Ai) each partial prepayment shall be in an aggregate principal amount of not less than the Borrowing Minimum $10,000,000 and integral multiples of the Borrowing Multiple $1,000,000 in excess thereof, (Bii) in the case of any such prepayment of any Eurocurrency Rate Advance, the Company shall pay all accrued interest to the date of such prepayment on the portion of such Eurocurrency Rate Advance Advances being prepaid and shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 9.04(b) and (Ciii) without limiting the Company’s obligations under Section 9.04(b), a notice of prepayment may be conditioned on the effectiveness of other credit facilities or the availability of a source of funds for such prepayment prepayment, in which case such notice may be revoked or extended by the Company (by notice to the Administrative Agent on or prior to the specified prepayment effective date) if such condition is not satisfied. Each notice of prepayment will specify the date and amount of such prepayment and the Advances to be prepaid.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Computer Sciences Corp)

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