Common use of Voluntary Prepayments Clause in Contracts

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 5 contracts

Samples: Incremental Agreement (Snap One Holdings Corp.), Incremental Agreement (Snap One Holdings Corp.), Credit Agreement (Snap One Holdings Corp.)

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Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditionsconditions and subject to clause (b) and (c) below: (1a) the Borrower shall give the Administrative Agent and at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (i) 10:00 a.m. (New York City time) one Business Day (xor, in the case of LIBOR Loans, three (3) on Business Days) prior to, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 1,000,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,0005,000,000; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and (3c) any prepayment of Eurodollar LIBOR Term Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify At the date and amount Borrower’s election, prepayments of such prepayment and Terms Loans pursuant to this Section 5.1 may be applied pro rata among the Class(es) and Type(s) of Loans to be prepaidTerm Loans. Each prepayment in respect of any Class tranche of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Term Loans in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)determine. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan of a Defaulting Lender.

Appears in 5 contracts

Samples: Possession Credit Agreement (Intelsat S.A.), 3 and Waiver (Intelsat S.A.), Credit Agreement (Intelsat S.A.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 5 contracts

Samples: Credit Agreement (BrightView Holdings, Inc.), First Lien Credit Agreement (BrightView Holdings, Inc.), Lien Credit Agreement (BrightView Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to the date of such prepayment and shall promptly be transmitted by the Administrative Agent to each of the Lenders and (iii) in the case of ABR Swingline Loans, including Swingline Loans) or (y) three Business Days prior to (in on, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 (or the Dollar Equivalent thereof) and in an aggregate principal multiples of $1,000,000 (or the Dollar Equivalent thereof) in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 4 contracts

Samples: Credit Agreement (Applovin Corp), Credit Agreement (Applovin Corp), Credit Agreement (Applovin Corp)

Voluntary Prepayments. (a) The At any time and from time to time, the Borrower shall have the right to prepay Term the Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time part, without premium or penalty (except as provided in clause (iii) below), upon written notice given to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no not later than 1:00 p.m. (New York City 11:00 a.m., Charlotte time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to each intended prepayment of LIBOR Loans and one Business Day prior to each intended prepayment of Base Rate Loans (in the case of Eurodollar other than Swingline Loans, which may be prepaid on a same-day basis), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, provided that (2i) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $2,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof ($500,000 and $100,000, respectively, in the case of Swingline Loans), and each partial prepayment of Swingline Base Rate Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least not less than $100,000; provided that 1,000,000 or, if greater, an integral multiple of $100,000 in excess thereof, (ii) no partial prepayment of Eurodollar LIBOR Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $2,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 2.18 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount, Class and Type(s) Type of the Loans to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which made), and shall be irrevocable and shall bind the Borrower to make such prepayment on the terms specified therein. Each prepayment in respect of any Class of Term Revolving Loans and Swingline Loans prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and 2.7(a) may be applied reborrowed, subject to any Class the terms and conditions of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansAgreement. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes Administrative Agent receives a notice of Term Loansprepayment under this Section, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject Administrative Agent will give prompt notice thereof to the provisions of Sections 5.2(d) and 5.2(e). At Lenders; provided that if such notice has also been furnished to the Borrower’s election in connection Lenders, the Administrative Agent shall have no obligation to notify the Lenders with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrespect thereto.

Appears in 3 contracts

Samples: Credit Agreement (Swisher Hygiene Inc.), Credit Agreement (Swisher Hygiene Inc.), Credit Agreement (Swisher Hygiene Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit the Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penaltymade to it, in whole or in part part, without premium or penalty, except as otherwise provided in this Agreement, from time to time on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent at the Administrative Agent’s Notice Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make prepay such prepaymentLoans pursuant to this Section 4.01(a), whether such Loans are Term Loans or Revolving Loans, the amount of such prepayment and (in the case of Eurodollar Loans) the specific Borrowing(s) pursuant to which such Loans were made, which notice shall be given by the Borrower prior to 1:00 P.M. (New York time) (x) on the same Business Day of such prepayment in the case of Base Rate Loans and (y) at least three Business Days prior to the date of such prepayment in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall promptly be in the form attached hereto as Exhibit N and be given transmitted by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Banks; (2ii) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans pursuant to this Section 4.01(a) shall be in a multiple of $500,000 and in an aggregate principal amount of (A) at least $5,000,000 or in any multiple of $1,000,000 in excess thereof in the case of Eurodollar Loans and each partial prepayment of Swingline Loans shall be in a (B) at least $500,000 or any multiple of $100,000 and in an aggregate principal amount excess thereof in the case of at least $100,000Base Rate Loans; provided provided, that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding aggregate principal amount of the Eurodollar Loans made outstanding pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and applicable thereto; (3iii) any each prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es4.01(a) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans made pursuant to this Section 5.1 a Borrowing shall be applied to reduce the Repayment Amounts in pro rata among such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by Loans; provided, that at the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s 's election in connection with any prepayment of Revolving Loans pursuant to this Section 5.14.01(a), such prepayment shall not be applied to any Loan Revolving Loans of a Defaulting LenderBank at any time when the aggregate amount of Revolving Loans of any Non-Defaulting Bank exceeds such Non-Defaulting Bank's RL Percentage of all Revolving Loans then outstanding; (iv) each prepayment of Term Loans pursuant to this Section 4.01(a) shall be applied to reduce the then remaining Scheduled Repayments in inverse order of maturity.

Appears in 3 contracts

Samples: Credit Agreement (Inacom Corp), Credit Agreement (Inacom Corp), Credit Agreement (Inacom Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof, and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Loans as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderspecify.

Appears in 3 contracts

Samples: Credit Agreement (National Vision Holdings, Inc.), Second Lien Credit Agreement (National Vision Holdings, Inc.), Credit Agreement (National Vision Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to the date of such prepayment and shall promptly be transmitted by the Administrative Agent to each of the Lenders and (iii) in the case of ABR Swingline Loans, including Swingline Loans) or (y) three Business Days prior to (in on, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 (or the Dollar Equivalent thereof) and in an aggregate principal multiples of $1,000,000 (or the Dollar Equivalent thereof) in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, Amendment No. 3 New Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 3 contracts

Samples: Credit Agreement (Applovin Corp), Credit Agreement (Applovin Corp), Credit Agreement (Applovin Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay the Term LoansLoans of any Tranche, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except without premium or penalty (other than as set forth provided in Section 5.1(b4.01(e), premium or penalty), in whole or in part at any time and from time to time on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent at the Administrative Agent’s its Notice Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepay all of the Term Loans, or in the case of any partial prepayment, the Tranche of Term Loans to be prepaid, the amount of the Term Loans to be prepaid, the Types of Term Loans to be repaid, the manner in which such prepayment and shall apply to reduce the Scheduled Repayments and, in the case of Eurodollar LIBO Rate Loans, the specific Borrowing(s) Borrowing or Borrowings pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (x) prior to 12:00 Noon (New York City time) (xor such later period as the Administrative Agent may agree to in its sole and absolute discretion) on at least one (1) Business Day prior to the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or Term Loans maintained as Base Rate Loans and (y) prior to 12:00 Noon (New York City time) at least three (3) Business Days (or such later period as the Administrative Agent may agree to in its sole and absolute discretion) prior to (the date of such prepayment in the case of Eurodollar LoansLIBO Rate Loans (or, in the case of clauses (x) and (y), and, in each case, such shorter period as the Administrative Agent shall agree in its sole and absolute discretion), and be promptly notify transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2ii) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans pursuant to this Section 5.01(a) shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each or such lesser amount as is acceptable to the Administrative Agent; provided that if any partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar LIBO Rate Loans made pursuant to a single any Borrowing shall reduce the outstanding Eurodollar principal amount of LIBO Rate Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Amount, then if such Borrowing is a Borrowing of LIBO Rate Loans, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day election of an Interest Period applicable with respect thereto shall be subject to compliance given by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(eshave no force or effect; (iii) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any each prepayment pursuant to this Section 5.1, such prepayment 5.01(a) in respect of any Term Loans made pursuant to a Borrowing shall not be applied to any Loan pro rata among such Term Loans; provided that it is understood and agreed that this clause (iii) may be modified as expressly provided in Section 2.14 in connection with an Extension Amendment; and (iv) each prepayment of principal of Term Loans of a Defaulting Lendergiven Tranche pursuant to this Section 5.01(a) shall be applied as directed by the Borrower in the applicable notice of prepayment delivered pursuant to this Section 5.01(a) or, if no such direction is given, in direct order of maturity. Notwithstanding anything to the contrary contained in this Agreement, any such notice of prepayment pursuant to this Section 5.01(a) may state that it is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities, the occurrence of a Change of Control or any similar event), in which case such notice may be revoked by the Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Appears in 3 contracts

Samples: Credit Agreement (Iridium Communications Inc.), Credit Agreement (Iridium Communications Inc.), Credit Agreement (Iridium Communications Inc.)

Voluntary Prepayments. (a) The Each Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit any of the Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penaltyowing by it, in whole or in part part, without premium or penalty (except as specified in subpart (d) below), from time to time on the following terms and conditions: (1) the time. The Borrower making such prepayment shall give the Administrative Global Agent at the Administrative Agent’s Notice Office written notice (or telephonic notice (in the case of telephonic notice, promptly confirmed in writingwriting if so requested by the Global Agent) of its intent to make such prepaymentprepay the Loans, the amount of such prepayment and (in the case of Eurodollar Fixed Rate Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given received by the Borrower no later than 1:00 p.m. (New York City time) Global Agent by (x) on 11:00 A.M. (local time at the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (yNotice Office) three Business Days prior to (the date of such prepayment, in the case of Eurodollar any prepayment of Fixed Rate Loans), andor (y) 11:00 A.M. (local time at the Notice Office) one Business Day prior to the date of such prepayment, in each casethe case of any prepayment of Base Rate Loans, the Administrative Agent and which notice shall promptly notify be transmitted by the Global Agent to each of the relevant Lenders or the relevant Swingline Lenderaffected Lenders; provided, as however, that (i) in the case may beof prepayment of any Borrowings, (2) each partial prepayment of any such Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment 5,000,000 (or, if less, the full amount of Swingline Loans shall be in a such Borrowing) or the Dollar Equivalent thereof, or an integral multiple of $100,000 and 1,000,000 or the Dollar Equivalent thereof in an aggregate principal amount of at least $100,000excess thereof; provided that (ii) no partial prepayment of Eurodollar any Loans made pursuant to a single Borrowing shall reduce the aggregate principal amount of such Loans outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans applicable thereto; and (3iii) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall shall, unless otherwise specified by the applicable Borrower, be applied to reduce the Repayment Amounts repay such Loans in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this accordance with Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e2.14(b). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 3 contracts

Samples: Credit Agreement (Abercrombie & Fitch Co /De/), Credit Agreement (Abercrombie & Fitch Co /De/), Credit Agreement (Abercrombie & Fitch Co /De/)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 2:00 p.m. (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loansone (1) Business Day prior to the date of such prepayment (or, in any case under the foregoing clause (a)(i) or clause (y) three Business Days prior to (in the case of Eurodollar Loansa)(ii), and, in each case, such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) and shall promptly notify be transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline LenderLenders, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 U.S.$250,000 and in an aggregate principal amount multiples of at least $1,000,000 U.S.$100,000 in excess thereof, and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $100,000 U.S.$250,000 and in an aggregate principal amount multiples of at least $100,000U.S.$100,000 in excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans; and (3c) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than prior to the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with thereto, the applicable provisions Borrower shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (1) applied to reduce the Repayment Amounts in such order Class or Classes of Loans as the Borrower may determine specify and may be (2) with respect to prepayments of Term Loans, applied to reduce Initial Term Loan Repayment Amounts, any Class New Term Loan Repayment Amounts, any Replacement Term Loan Repayment Amount, any Refinancing Term Loan Repayment Amount and any Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order (including order of Term Loans application to scheduled amortization payments) as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans specify. Notwithstanding the foregoing, prior to the six-month anniversary of an Existing Term Loan Class the Closing Date, all prepayments pursuant to this Section 5.1 without any requirement 5.1(a) shall be applied to prepay Extended the outstanding Initial Term B-2 Loans that were converted or exchanged from until such Existing Initial Term Loan Class and (ii) prepay Extended Term Loans pursuant B-2 Loans, together with all accrued but unpaid interest thereon, have been paid in full. Subject to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the immediately preceding sentence, in the event that the Borrower does not specify the order in which to apply prepayments of Term Loans to reduce Repayment Amounts scheduled installments of principal or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds prepayment be applied to reduce the Repayment Amounts scheduled installments of principal in direct order of maturity and/or on a pro rata basis with the applicable Class or Classes, if a Class or Classes were specified, or among all Classes of Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)Loans then outstanding, if no Class was specified. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Loan of a Defaulting Lender.

Appears in 3 contracts

Samples: Intercreditor Agreement (Canada Goose Holdings Inc.), Intercreditor Agreement (Canada Goose Holdings Inc.), Intercreditor Agreement (Canada Goose Holdings Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement New Revolving Credit Loans and Swingline Loans, withoutin each case, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower Parent Borrower, on behalf of the Borrowers, shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Parent Borrower, on behalf of the Borrowers, no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans and Protective Advances), one Business Day prior to or (iii) in the case of Swingline Loans and Protective Advances, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 10,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans and Protective Advances) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $1,000,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Parent Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Parent Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any New Revolving Credit Loan of a Defaulting Lender.

Appears in 3 contracts

Samples: Credit Agreement (HCA Holdings, Inc.), Credit Agreement (Hca Inc/Tn), Credit Agreement (Hca Inc/Tn)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay its Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutin each case, without premium or penalty (except as set forth in clause (b) of this Section 5.1(b5.1), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term LIBOR Loans or Revolving Credit Loans denominated in Dollars shall be in a multiple minimum amount of $500,000 and 10,000,000, (ii) any ABR Loans (other than Swingline Loans) shall be in an aggregate principal a minimum amount of at least $1,000,000 1,000,000, (iii) any Loans denominated in Euro shall be in a minimum amount of €10,000,000, (iv) any Loans denominated in Sterling shall be in a minimum amount of £5,000,000 and each partial prepayment of (v) Swingline Loans shall be in a multiple minimum amount of $100,000 and in an aggregate principal amount of at least $100,000; 500,000, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 5.1(a) on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 5.1(a) shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) as to any such Class of Term Loans, applied to reduce the Repayment Amounts thereunder in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.15.1(a), such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender. Notwithstanding the foregoing, (x) the Borrower may not prepay Replacement Revolving Credit Loans that have been converted from Revolving Credit Loans pursuant to Section 2.14(b)(iii)(a) until the date on which all Revolving Credit Loans that were outstanding on the date of such conversion have been prepaid or repaid and (y) the Borrower may not prepay any Extended Term Loans which were converted from an Existing Class unless either such prepayment is accompanied by a pro rata prepayment of such Existing Class or such Existing Class has been repaid in full.

Appears in 3 contracts

Samples: Credit Agreement (HCA Healthcare, Inc.), Joinder Agreement (HCA Healthcare, Inc.), Restatement Agreement (HCA Healthcare, Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutin each case, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower Parent Borrower, on behalf of the Borrowers, shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Parent Borrower, on behalf of the Borrowers, no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, one Business Day prior to, (ii) in the case of ABR Loans (other than Swingline Loans and Protective Advances), one Business Day prior to or (iii) in the case of Swingline Loans and Protective Advances, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 10,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans and Protective Advances) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $1,000,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Parent Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Parent Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender.

Appears in 3 contracts

Samples: Credit Agreement (HCA Healthcare, Inc.), Restatement Agreement (HCA Holdings, Inc.), Credit Agreement (HCA Holdings, Inc.)

Voluntary Prepayments. (a) The At any time and from time to time, the Borrower shall have the right to prepay Term the Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time part, without premium or penalty (except as provided in clause (iii) below), upon written notice given to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no not later than 1:00 p.m. 11:00 a.m., Charlotte time, five (New York City time5) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to each intended prepayment of LIBOR Loans and one (in the case 1) Business Day prior to each intended prepayment of Eurodollar Base Rate Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, provided that (2i) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $1,000,000 and each partial prepayment or, if greater, an integral multiple of Swingline Loans shall be $500,000 in a excess thereof (an integral multiple of $100,000 and in an aggregate principal amount the case of at least $100,000; provided that Swingline Loans), (ii) no partial prepayment of Eurodollar LIBOR Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $3,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 2.18 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount, Class and Type(s) Type of the Loans to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which made), and shall be irrevocable and shall bind the Borrower to make such prepayment on the terms specified therein. Each prepayment in respect of any Class of Revolving Loans and Swingline Loans (but not Term Loans Loans) prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and subsection (a) may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubtreborrowed, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions terms and conditions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting LenderAgreement.

Appears in 3 contracts

Samples: Credit Agreement (Hilb Rogal & Hamilton Co /Va/), Credit Agreement (Hilb Rogal & Hamilton Co /Va/), Credit Agreement (Hilb Rogal & Hamilton Co /Va/)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to the Class or Classes of Term Loans as the Borrower may specify. Such notice may be given by telephone; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a written notice of prepayment. Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce any Term A Loan Repayment Amounts, New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 3 contracts

Samples: Credit Agreement (National Vision Holdings, Inc.), Credit Agreement (National Vision Holdings, Inc.), Credit Agreement (National Vision Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine and may be applied to specify. Each prepayment in respect of any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Initial Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amount, any New Term Loan Repayment Amount, and, subject to Section 2.14(g), Extended Term Loan Repayment Amount, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrower may specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (Bountiful Co), First Lien Credit Agreement (Bountiful Co)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay its Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penaltysubject to clause (b) below, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in to, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied pro rata to the Tranche B-1 Term Loans, the Tranche B-2 Term Loans and the New Term Loans based on the applicable remaining Repayment Amounts due thereunder and (b) subject to the preceding subclause (a), applied to reduce the Tranche X-0 Xxxxxxxxx Xxxxxxx, Xxxxxxx X-0 Repayment Amounts and/or any New Term Loan Repayment Amounts, as the case may be, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderspecify.

Appears in 2 contracts

Samples: Credit Agreement (Dollar General Corp), Credit Agreement (Dollar General Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic such other form of notice promptly confirmed in writingas may be agreed by the Administrative Agent) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans denominated in Dollars, three Business Days prior to, or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three on the same Business Days prior to (in the case of Eurodollar Loans), and, in each case, Day and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term LIBOR Loans or Revolving Credit denominated in Dollars shall be in a minimum amount of $2,500,000 and in multiples of $500,000 in excess thereof and (ii) any ABR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans and such LIBOR Loans; (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrower shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11; and (4) any such prepayment shall be subject to compliance by the Borrower with payment of the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaidPrepayment Premium. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderspecify.

Appears in 2 contracts

Samples: Intercreditor Agreement (Focus Financial Partners Inc.), Intercreditor Agreement (Focus Financial Partners Inc.)

Voluntary Prepayments. (aii) The Borrower shall have the right to prepay Term Loans, Revolving Credit Deposit L/C Loans, Extended Revolving Credit Loans and AdditionalIncremental Deposit L/Replacement C Loans, Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, subject to Sections 5.1(b) and 5.1(c), in whole or in part part, from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and and, in the case of Eurodollar LIBOR Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than (i) in the case of Term Loans, Deposit L/C Loans, Incremental Deposit L/C Loans or Revolving Credit Loans, 1:00 p.m. (New York City time) (x) on the date of such prepayment one Business Day prior to (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar LIBOR Loans), andor (ii) in the case of Swingline Loans, in each case1:00 p.m. (New York City time), the date of such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2b) each partial prepayment of any Borrowing of Term Loans, Deposit L/C Loans, Incremental Deposit L/C Loans or Revolving Credit Loans shall be in a multiple of $500,000 1,000,000 and in an aggregate principal amount of at least $1,000,000 5,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000500,000; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class tranche of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans in such manner as the Borrower may determine and (b) applied to reduce the Initial Term Loan Repayment Amounts, Delayed Draw Term Loan Repayment Amounts and/or Incremental Term Loan Repayment Amounts, as the case may be, in each case in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classesdetermine. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections Section 5.2(d) and 5.2(eor (e), as applicable. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Credit Agreement (Energy Future Intermediate Holding CO LLC), Credit Agreement (Energy Future Intermediate Holding CO LLC)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay may repay Revolving Loans, Terms Loans, Additional Term Loans, Revolving Credit Swing Line Loans, Extended Supplemental Revolving Credit Loans, D Tranche Term Loans and Additional/Replacement Revolving Credit E Tranche Term Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole at any time or in part from time to time time, without penalty or premium (except as provided in Section 3.2(b)), on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepaymentprepay the Loans, the amount of such prepayment and and, in the case of Eurodollar Rate Loans, the specific Borrowing(s) Borrowing or Borrowings pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by Borrower at least one Business Day prior to the Borrower no later than 1:00 p.m. date of such prepayment (or by 11:00 a.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline a prepayment of Swing Line Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent and which notice shall promptly notify be transmitted by the Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2ii) each partial prepayment of any Borrowing (other than a Borrowing of Term Loans or Revolving Credit Loans Swing Line Loans) shall be in a multiple an aggregate principal amount of at least $5,000,000 and in integral multiples of $500,000 1,000,000 above such minimum and in each partial prepayment of a Swing Line Loan shall be an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple integral multiples of $100,000 and in an aggregate principal amount of at least $100,000; 1,000,000 above such minimum, provided that no partial prepayment of Eurodollar Rate Loans made pursuant to a single Borrowing under the Term Loan, the Additional Term Loan, the Revolving Loan, the Supplemental Revolving Loan, the D Tranche Term Loan or the E Tranche Term Loan shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and minimum borrowing amount as set forth in Section 2.4; (3iii) any prepayment repayment of a Eurodollar Loans pursuant to this Section 5.1 Rate Loan on any a day other than the last day of an Interest Period applicable thereto shall be subject to compliance the provisions of Section 2.16; (iv) except as otherwise provided in Section 3.6(f), any voluntary prepayment of the Term Loan, Additional Term Loan, D Tranche Term Loan and E Tranche Term Loan must be made on a proportionate basis based on the respective aggregate outstanding principal amounts of such Loans, provided that prior to September 30, 1997, any prepayment of the Term Loan, Additional Term Loan and E Tranche Term Loan may be made on a proportionate basis based solely on the respective aggregate outstanding principal amounts of such Loans and without making any proportionate prepayment of the D Tranche Term Loan; (v) prepayments of Revolving Loans, Supplemental Revolving Loans, Term Loans, Additional Term Loans, D Tranche Term Loans and E Tranche Term Loans shall be applied pro rata among the Revolving Lenders, Supplemental Revolving Lenders, Term Lenders, Additional Lenders, D Tranche Lenders and E Tranche Lenders, respectively, based on their respective Revolving Loan Pro Rata Shares, Supplemental Revolving Loan Pro Rata Shares, Term Loan Pro Rata Shares, Additional Term Loan Pro Rata Shares, D Tranche Term Loan Pro Rata Shares and E Tranche Term Loan Pro Rata Shares, as the case may be; (vi) in the case of a voluntary prepayment of the Term Loans, Additional Term Loans, D Tranche Term Loans and E Tranche Term Loans as to which the Borrower requests a waiver pursuant to Section 3.6(f), the notice of prepayment shall be given at least ten (10) Business Days prior to the date of such proposed prepayment and shall, subject to Section 3.6(f), be irrevocable; (vii) all prepayments of D Tranche Term Loans shall be subject to Section 3.2(b); and (viii) voluntary repayments of Revolving Loans and Supplemental Revolving Loans shall be made in conjunction with one another such that after giving effect to such repayments and any other proposed repayments of Obligations to be made on the proposed repayment date of which the Borrower has notified the Agent, the Revolving Loan Availability Ratio and the Supplemental Revolving Loan Availability Ratio are equalized as nearly as possible, provided that, prior to any acceleration of the Obligations pursuant to Section 7.2, the Agent shall apply repayments without regard to such ratios to repay Eurodollar Rate Loans coming due to the extent necessary to avoid or minimize breakage costs and expenses imposed under Section 2.16. Upon receipt by the Agent of any notice provided by the Borrower with to voluntarily repay any Revolving Loans and Supplemental Revolving Loans, the applicable provisions Agent shall determine the relative amounts of Section 2.11Revolving Loans and/or Swing Line Loans to be repaid and shall notify the Borrower as to such amounts. Each The determination by the Agent shall be made at the time it receives a notice of a proposed repayment of Revolving Loans and/or Supplemental Revolving Loans, based on the information the Borrower has provided to the Agent at the time it receives such notice with respect to anticipated repayments of Obligations, and shall specify be final, conclusive and binding on all parties hereto. The notice provisions, the date and provisions with respect to the minimum amount of such any prepayment and the Class(es) and Type(s) provisions requiring prepayments in integral multiples above such minimum amount of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce 3.2 are for the Repayment Amounts in such order as benefit of the Borrower may determine Agent and may be applied to any Class of Term Loans as directed waived unilaterally by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting LenderAgent.

Appears in 2 contracts

Samples: Credit Agreement (Stone Container Corp), Credit Agreement (Stone Container Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case of Eurodollar Loans), and, in each caseto, the Administrative Agent shall promptly notify each date of the relevant Lenders or the relevant Swingline Lender, as the case may be, such prepayment; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or on a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to based on the provisions aggregate principal amount of Sections 5.2(d) and 5.2(e)Loans outstanding at such time. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Loan Agreement (First Data Corp), Loan Agreement (First Data Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part part, from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and and, in the case of Eurodollar LIBOR Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in to, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or on a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to based on the provisions aggregate principal amount of Sections 5.2(d) and 5.2(e)Loans outstanding at such time. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Interim Loan Agreement (Energy Future Holdings Corp /TX/), Interim Loan Agreement (Energy Future Holdings Corp /TX/)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay the Term LoansLoans of any Tranche, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except without premium or penalty (other than as set forth provided in Section 5.1(b4.01(e), premium or penalty), in whole or in part at any time and from time to time on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent at the Administrative Agent’s its Notice Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepay all of the Term Loans, or in the case of any partial prepayment, the Tranche of Term Loans to be prepaid, the amount of the Term Loans to be prepaid, the Types of Term Loans to be repaid, the manner in which such prepayment and shall apply to reduce the Scheduled Repayments and, in the case of Eurodollar SOFR Loans, the specific Borrowing(s) Borrowing or Borrowings pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (x) prior to 12:00 Noon (New York City time) (xor such later period as the Administrative Agent may agree to in its sole and absolute discretion) on at least one (1) Business Day prior to the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or Term Loans maintained as Base Rate Loans and (y) prior to 12:00 Noon (New York City time) at least three (3) Business Days (or such later period as the Administrative Agent may agree to in its sole and absolute discretion) prior to (the date of such prepayment in the case of Eurodollar LoansSOFR Loans (or, in the case of clauses (x) and (y), and, in each case, such shorter period as the Administrative Agent shall agree in its sole and absolute discretion), and be promptly notify transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2ii) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans pursuant to this Section 5.01(a) shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each or such lesser amount as is acceptable to the Administrative Agent; provided that if any partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single any Borrowing shall reduce the outstanding Eurodollar principal amount of SOFR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Amount, then if such Borrowing is a Borrowing of SOFR Loans, such Borrowing shall automatically be converted into a Borrowing of Base Rate Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day election of an Interest Period applicable with respect thereto shall be subject to compliance given by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(eshave no force or effect; (iii) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any each prepayment pursuant to this Section 5.1, such prepayment 5.01(a) in respect of any Term Loans made pursuant to a Borrowing shall not be applied to any Loan pro rata among such Term Loans; provided that it is understood and agreed that this clause (iii) may be modified as expressly provided in Section 2.14 in connection with an Extension Amendment; and (iv) each prepayment of principal of Term Loans of a Defaulting Lendergiven Tranche pursuant to this Section 5.01(a) shall be applied as directed by the Borrower in the applicable notice of prepayment delivered pursuant to this Section 5.01(a) or, if no such direction is given, in direct order of maturity. Notwithstanding anything to the contrary contained in this Agreement, any such notice of prepayment pursuant to this Section 5.01(a) may state that it is conditioned upon the occurrence or non-occurrence of any event specified therein (including the effectiveness of other credit facilities, the occurrence of a Change of Control or any similar event), in which case such notice may be revoked by the Borrower (by written notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Appears in 2 contracts

Samples: Credit Agreement (Iridium Communications Inc.), Amendment and Restatement Agreement (Iridium Communications Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penaltypenalty (other than amounts, if any, required to be paid pursuant to Section 2.11 with respect to prepayments of LIBOR Loans made on any date other than the last day of the applicable Interest Period), in whole or in part part, from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office revocable written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and and, in the case of Eurodollar LIBOR Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment one Business Day prior to (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar LIBOR Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 1,000,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,0005,000,000; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than prior to the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections Section 5.2(d) and 5.2(eor (e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderas applicable.

Appears in 2 contracts

Samples: Credit Agreement (Vistra Corp.), Credit Agreement (Vistra Corp.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders Lenders, and which notice may be conditioned upon the occurrence of any other transaction and, if such condition is not satisfied on or prior to the relevant Swingline Lenderdate specified in such notice, as may be revoked by the case may be, Borrower; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment in multiples of Swingline $1,000,000 in excess thereof and (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial voluntary prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce the Initial Term Loan Repayment Amounts and any Incremental Term Loan Repayment Amounts, as the case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderspecify.

Appears in 2 contracts

Samples: Credit Agreement (Del Frisco's Restaurant Group, Inc.), Credit Agreement (Del Frisco's Restaurant Group, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutwithout premium or penalty, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar LIBOR Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment one Business Day prior to (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar LIBOR Loans), and, in each case, ) the date of such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,0001,000,000; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount $5,000,000 for Eurodollar Loans LIBOR Loans; and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts (if any) in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro pro-rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Credit Agreement (Samson Resources Corp), Credit Agreement (Samson Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case of Eurodollar Loans), and, in each caseto, the Administrative Agent shall promptly notify each date of the relevant Lenders or the relevant Swingline Lender, as the case may be, such prepayment; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Cash Pay or PIK Loans, as specified by the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or on a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to based on the provisions aggregate principal amount of Sections 5.2(d) and 5.2(e)Cash Pay Loans or PIK Loans, as applicable, outstanding at such time. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Interim Loan Agreement (First Data Corp), Loan Agreement (First Data Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to the date of such prepayment and shall promptly be transmitted by the Administrative Agent to each of the Lenders and (iii) in the case of ABR Swingline Loans, including Swingline Loans) or (y) three Business Days prior to (in on, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 (or the Dollar Equivalent thereof) and in an aggregate principal multiples of $1,000,000 (or the Dollar Equivalent thereof) in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class specify and (iib) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Initial Term Loan ClassesRepayment Amounts, Amendment No. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.3

Appears in 2 contracts

Samples: Credit Agreement (Applovin Corp), Credit Agreement (Applovin Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans or Senior Term Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case of Eurodollar Loans), and, in each caseto, the Administrative Agent shall promptly notify each date of the relevant Lenders or the relevant Swingline Lender, as the case may be, such prepayment; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans or Senior Term Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)2.11 hereof. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: Loan Agreement (SunOpta Inc.), Loan Agreement (SunOpta Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office (and, in the case of a Swingline Loan, the Swingline Lender) written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine and may be applied to specify. Each prepayment in respect of any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Initial Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrower may specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 2 contracts

Samples: First Lien Credit Agreement (BrightSpring Health Services, Inc.), First Lien Credit Agreement (BrightSpring Health Services, Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right right, at any time, to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower Company shall give the Administrative Agent and at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which madebe prepaid, which notice shall be in the form attached hereto as Exhibit N and be given by the such Borrower no later than 1:00 p.m. than, in the case of LIBOR Loans, 10:00 a.m. three (New York City time3) (x) on Business Days prior to the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a an integral multiple of $500,000 1,000,000 and in an aggregate principal amount of at least $1,000,000 5,000,000 and each partial prepayment of Swingline ABR Loans shall be in a an integral multiple of $100,000 and in an aggregate principal amount of at least $100,0001,000,000 or, in each case, if less, the entire principal amount thereof then outstanding; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans Amount, and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the relevant Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Lenders’ participation in each such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)rata. At the BorrowerCompany’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Revolving Credit Agreement (NXP Semiconductors N.V.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans or SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans and SOFR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term LIBOR Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans or SOFR Loans, as applicable, made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans or SOFR Loans, as applicable, made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans or SOFR Loans, as applicable, and (3) in the case of any prepayment of Eurodollar LIBOR Loans or SOFR Loans, as applicable, pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class or Classes of Term Loans as directed by the BorrowerBorrowers may specify. For the avoidance Each prepayment in respect of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be Borrowers may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-2 Term Loan ClassesRepayment Amounts, Amendment No. All prepayments under this Section 5.1 shall also be 6 Term Loan Repayment Amounts, Tranche B-4 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrowers may specify. At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (GoDaddy Inc.)

Voluntary Prepayments. The Borrower may at any time and from time to time (i) on prior written notice to the Administrative Agent no later than (x) in the case of any prepayment of EurodollarTerm Benchmark Loans, three (3) U.S. Government Securities Business Days prior to the applicable prepayment date, and (y) in the case of any prepayment of Alternate Base Rate Loans, 10:00 a.m. New York time on the applicable prepayment date, voluntarily prepay all or part of the Advances or Term Loans and subject to any amounts payable pursuant to Section 2.3(g) and, in the case of EurodollarTerm Benchmark Loans prepaid prior to the last day of the relevant Interest Period, reimbursement of redeployment costs (other than loss of profits) in accordance with Section 2.10 and (ii) on at least three (3) days’ prior written notice to Administrative Agent, permanently reduce in part (but not terminate except in accordance with the provisions below of this clause (a)) The the Revolving Loan Commitment; provided, however, that (A) any such prepayments or reductions shall be in a minimum amount of $500,000 and integral multiples of $100,000 in excess of such amount in the case of the Advances and Revolving Loan Commitments (or such lesser amount outstanding) and (B) any such prepayments or reductions shall be in a minimum amount of $500,000 and integral multiples of $100,000 in excess of such amount in the case of the Term Loans (or such lesser amount outstanding). In addition, the Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part may at any time from time to time on the following terms and conditions: at least three (13) the Borrower shall give the Administrative Agent at the days’ prior written notice to Administrative Agent’s Office written notice (, terminate the Revolving Loan Commitment in whole or telephonic notice promptly confirmed in writing) of its intent to make part; provided that upon such prepaymenttermination, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each portion of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 the Revolving Loan then outstanding in excess of the Revolving Loan Commitments (after giving effect to the Revolving Commitments so terminated) shall be immediately due and each partial payable in full. Any such voluntary (or, per the immediately preceding sentence, required) prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than Advances and/or the Minimum Borrowing Amount for Eurodollar Term Loans and (3) any prepayment such reduction or termination of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall Revolving Loan Commitment must be subject to compliance accompanied by the Borrower with payment of the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(esfees required by Sections 2.3(g) and Type(s) of 2.6(b), if any, on the Advances and/or the Term Loans to be prepaid. Each prepayment in respect , plus the payment of any Class of Term Loans pursuant LIBOR funding breakage costs in accordance with Section 2.102.11. Notwithstanding anything to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine contrary contained herein and may be applied to any Class of Term Loans as directed by the Borrower. For for the avoidance of doubt, any voluntary prepayment or commitment reduction may be made contingent upon, or subject to, the Borrower may (i) prepay occurrence of a refinancing of all or any part of the Obligations or commitments or other event or transaction. Upon any such reduction or termination of the Revolving Loan Commitment, Xxxxxxxx’s right to request Advances shall simultaneously be permanently reduced or terminated by the amount of such reduction or termination. Each Notice of Prepayment shall designate the Loans or other Obligations to which such prepayment is to be applied; provided that any partial prepayment of the Term Loans made by or on behalf of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts remaining scheduled installments of the Term Loans (including the final installment due on the Term Loan Maturity Date) as directed by the Borrower (pro rata among the Class of Term Loans selected to be prepaid based on the outstanding principal balances thereof) or absent such direction, in direct order of maturity and/or a pro rata basis among Term Loan Classesmaturity. All prepayments reductions of the Revolving Loan Commitment shall be shared by the Revolving Lenders based on their Pro Rata Shares of the Revolving Loan Commitment. Except as otherwise designated by the Borrower, any prepayment of a Loan under this Section 5.1 2.3(a) shall also be subject applied first to the provisions portion of Sections 5.2(d) such Loan comprised of Alternate Base Rate Loans and 5.2(e). At then to the Borrower’s election portion of such Loan comprised of EurodollarTerm Benchmark Loans, in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan the direct order of a Defaulting LenderInterest Period maturities.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (RadNet, Inc.)

Voluntary Prepayments. (a) The At any time and from time to time, the Borrower shall have the right to prepay Term the Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time part, together with accrued interest to time on the following terms and conditions: date of prepayment, without premium or penalty (1except as provided in clause (iii) the Borrower shall give below), upon written notice given to the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no not later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) 11:00 a.m. three Business Days prior to each intended prepayment of LIBOR Loans and one Business Day prior to each intended prepayment of Base Rate Loans (in the case of Eurodollar other than Swingline Loans, which may be prepaid on a same-day basis), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, provided that (2i) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $5,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, and each partial prepayment of Swingline Base Rate Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least not less than $3,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof ($100,000 and $100,000; provided that , respectively, in the case of Swingline Loans), (ii) no partial prepayment of Eurodollar LIBOR Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 2.19 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount and Type(s) Type of the Loans 11863223v8 24740.00050 to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of such Borrowing pursuant to which made), and shall be irrevocable and shall bind the Borrower to make such prepayment on the terms specified therein, subject to any condition specified in such notice. Each prepayment Any such notice delivered by the Borrower may be conditioned upon the effectiveness of other transactions, in respect of any Class of Term which case such notice may be revoked or its effectiveness deferred by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Revolving Loans and Swingline Loans prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and 2.8(a) may be applied reborrowed, subject to any Class the terms and conditions of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansAgreement. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes Administrative Agent receives a notice of Term Loansprepayment under this Section, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject Administrative Agent will give prompt notice thereof to the provisions of Sections 5.2(d) and 5.2(e). At Lenders; provided that if such notice has also been furnished to the Borrower’s election in connection Lenders, the Administrative Agent shall have no obligation to notify the Lenders with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrespect thereto.

Appears in 1 contract

Samples: Credit Agreement (Unum Group)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loansone (1) Business Day prior to the date of such prepayment or (yiii) three Business Days prior to (in the case of Eurodollar Swingline Loans, on, the date of such prepayment (or, in any case under the foregoing clause (a)(i) or clause (a)(ii), and, in each case, such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) and shall promptly notify be transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 250,000 and in an aggregate principal multiples of $100,000 in excess thereof, and (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 250,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $100,000 50,000 and in an aggregate principal amount multiples of at least $100,00050,000 in excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans; and (3c) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than prior to the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with thereto, the applicable provisions Borrower shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (1) applied to reduce the Repayment Amounts in such order Class or Classes of Loans as the Borrower may determine specify and may be (2) with respect to prepayments of Term Loans, applied to reduce Initial Term Loan Repayment Amounts, any Class New Term Loan Repayment Amounts, any Replacement Term Loan Repayment Amount, any Refinancing Term Loan Repayment Amount and any Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order (including order of Term Loans application to scheduled amortization payments) as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loansspecify. In the event that the Borrower does not specify the order in which to apply prepayments of Term Loans to reduce Repayment Amounts scheduled installments of principal or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds prepayment be applied to reduce the Repayment Amounts scheduled installments of principal in direct order of maturity and/or on a pro rata basis with the applicable Class or Classes, if a Class or Classes were specified, or among all Classes of Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)Loans then outstanding, if no Class was specified. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Blue Coat, Inc.)

Voluntary Prepayments. (a) The Each Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit its Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the such Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the such Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in to, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment in multiples of Swingline $1,000,000 in excess thereof and (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower Borrowers with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Margin Loan Agreement (Becker Douglas L)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement including Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of SOFR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to, or (iii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiplies of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such SOFR Loans, and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubtthereto, the Borrower may shall, promptly after receipt of a written request by any applicable Lender (i) prepay Term Loans which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of an Existing Term Loan Class such Lender any amounts required pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)2.11. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender.. 5.2

Appears in 1 contract

Samples: Credit Agreement (Academy Sports & Outdoors, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term LoansLoans of any Class, Revolving Credit Loansin each case, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except without premium or penalty (other than as set forth in Section 5.1(b), premium or penalty), in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar EurocurrencySOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (i) 12:00 Noon (New York City time) (x) on in the case of EurocurrencySOFR Loans, three Business Days prior to the date of such prepayment or (ii) 11:00 a.m. (New York City time) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit EurocurrencySOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $100,000 1,000,000 and in an aggregate principal amount multiples of at least $100,000; 500,000 in excess thereof, provided that no partial prepayment of Eurodollar EurocurrencySOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar EurocurrencySOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such EurocurrencySOFR Loans; and (3) in the case of any prepayment of Eurodollar EurocurrencySOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by specify. Notwithstanding the Borrower. For the avoidance of doubtforegoing, the Borrower may (i) prepay not repay Extended Term Loans of an any Extension Series unless such prepayment is accompanied by at least a pro rata repayment of Term Loans of the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay from which such Extended Term Loans that were converted (or exchanged from such Term Loans of the Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order have otherwise been repaid in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(efull). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Skillsoft Corp.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar Term Benchmark Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of Term Benchmark Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit Benchmark Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar Term Benchmark Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Term Benchmark Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such Term Benchmark Loans, and (3) in the case of any prepayment of Eurodollar Term Benchmark Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.. 118

Appears in 1 contract

Samples: Credit Agreement (BrightView Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term LoansLoans of any Class, Revolving Credit Loansin each case, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except without premium or penalty (other than as set forth in Section 5.1(b), premium or penalty), in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (i) 12:00 Noon (New York City time) (x) on in the case of SOFR Loans, three Business Days prior to the date of such prepayment or (ii) 11:00 a.m. (New York City time) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $100,000 1,000,000 and in an aggregate principal amount multiples of at least $100,000; 500,000 in excess thereof, provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such SOFR Loans; and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by specify. Notwithstanding the Borrower. For the avoidance of doubtforegoing, the Borrower may (i) prepay not repay Extended Term Loans of an any Extension Series unless such prepayment is accompanied by at least a pro rata repayment of Term Loans of the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay from which such Extended Term Loans that were converted (or exchanged from such Term Loans of the Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order have otherwise been repaid in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(efull). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Skillsoft Corp.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office (and, in the case of a Swingline Loan, the Swingline Lender) written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 and each partial prepayment of Swingline in excess thereof, (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine specify (and may be pro rata to the Lenders within each Class) and (b) applied to reduce Initial Term Loan Repayment Amounts, any Class of New Term Loans Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as directed by the Borrower. For the avoidance of doubtcase may be, in each case, in such order and to such Classes as the Borrower may specify (i) prepay and pro rata to the Lenders within each Class); provided that Extended Term Loans of an may be prepaid on a pro rata basis (but not a greater than pro rata basis) with the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that from which they were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderconverted.

Appears in 1 contract

Samples: Credit Agreement (Carbonite Inc)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans and Revolving Loans, Revolving Credit Loansas applicable, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic such other form of notice promptly confirmed in writingas may be agreed by the Administrative Agent) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans and Term SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBORTerm SOFR Loans denominated in Dollars and Term SOFR Loans, three Business Days prior to, (ii) in the case of LIBORRevolving Loans denominated in an Alternative Currency, four Business Days prior to, or (iii) in the case of ABR Loans, including Swingline Loans) or (y) three on the same Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Day; (2) each partial prepayment of (i) any Borrowing of Term LIBOR Loans or Term SOFR Loans, as applicable, denominated in Dollars or Revolving Credit Loans denominated in any Alternative Currency shall be in a minimum amount of the Dollar Equivalent of $2,500,000 and in multiples of the Dollar Equivalent of $500,000 in excess thereof, and (ii) any ABR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans or Term SOFR Loans, as applicable, made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans or Term SOFR Loans, as applicable, made 129 pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans or Term SOFR Loans, as applicable; and (3) in the case of any prepayment of Eurodollar LIBOR Loans or Term SOFR Loans, as applicable, pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify (but ratably to the Lenders of such Class) and (b) applied to reduce Initial Term Loan Repayment Amounts, 2023 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order as the Borrower may specify. Each prepayment in respect of any Revolving Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Revolving Loans as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may specify (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject but ratably to the provisions Lenders of Sections 5.2(d) and 5.2(esuch Class). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: First Lien Credit Agreement (HireRight Holdings Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to the date of such prepayment and shall promptly be transmitted by the Administrative Agent to each of the Lenders and (iii) in the case of ABR Swingline Loans, including Swingline Loans) or (y) three Business Days prior to (in on, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 (or the Dollar Equivalent thereof) and in an aggregate principal multiples of $1,000,000 (or the Dollar Equivalent thereof) in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, Amendment No. 6 New Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Applovin Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to, or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in to, the case date of Eurodollar Loans), and, in each case, such prepayment and notice thereof shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Visant Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to the Class or Classes of Term Loans as the Borrower may specify. Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Academy Sports & Outdoors, Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right right, at any time, to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower Company shall give the Administrative Agent and at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar Loans, LIBOR Loans the specific Borrowing(s) pursuant to which madebe prepaid, which notice shall be in the form attached hereto as Exhibit N and be given by the such Borrower no later than 1:00 p.m. (New York City time) (x) on in the case of LIBOR Loans, 10:00 a.m. three Business Days prior to, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a an integral multiple of $500,000 1,000,000 and in an aggregate principal amount of at least $1,000,000 5,000,000 and each partial prepayment of Swingline ABR Loans shall be in a an integral multiple of $100,000 and in an aggregate principal amount of at least $100,000; 500,000 or, in each case, if less, the entire principal amount thereof then outstanding, provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans Amount, and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the relevant Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Lenders’ participation in each such order as Loan pro rata, provided that, at the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the BorrowerCompany’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting LenderLender (provided, further, that, in the case of any Lenders that are Affiliates of other Lenders, such Lenders may allocate such prepayments among such Lenders as such Lenders determine in their discretion).

Appears in 1 contract

Samples: Credit Agreement (NXP Semiconductors N.V.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b) or Section 5.1(c), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office (and, in the case of a Swingline Loan, the Swingline Lender) written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on the date of such prepayment (in the case of ABR Loans, including Swingline one Business Day prior to and (ii) in the case of SOFR Loans) or (y) , three U.S. Government Securities Business Days prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such SOFR Loans and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine and may be applied to specify. Each prepayment in respect of any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-1 Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Tranche B-3-4 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrower may specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: First Lien Credit Agreement (BrightSpring Health Services, Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class or Classes of Term Loans as directed by the BorrowerBorrowers may specify. For the avoidance Each prepayment in respect of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be Borrowers may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Initial Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Delayed Draw Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrowers may specify. At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (GoDaddy Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay any Class of the Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, without premium or penalty (except as set forth provided below in Section 5.1(b4.01(c) and subject to Section 2.11), premium or penalty, in whole or in part at any time and from time to time on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent prior to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 2:30 P.M. (New York City time) at the Notice Office (xA) on at least one Business Day’s prior written notice of its intent to prepay Base Rate Loans and (B) at least three Business Days’ prior written notice of its intent to prepay LIBOR Loans, which notice (in each case) shall specify the amount of such prepayment, the date of such prepayment (which shall be a Business Day) and the Types of Term Loans to be prepaid and, in the case of ABR LIBOR Loans, including Swingline Loans) the specific Borrowing or (y) three Business Days prior Borrowings pursuant to (in the case of Eurodollar Loans)which such LIBOR Loans were made, and, in each case, and which notice the Administrative Agent shall shall, promptly notify transmit to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2ii) each partial prepayment of any Borrowing a Class of Term Loans or Revolving Credit Loans pursuant to this Section 4.01(a) shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in or a whole multiple of $100,000 and in an aggregate principal excess thereof (or such lesser amount of at least $100,000as is acceptable to the Administrative Agent); provided that no if any partial prepayment of Eurodollar LIBOR Loans made pursuant to a single any Borrowing shall reduce the outstanding Eurodollar principal amount of LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar applicable thereto, then such Borrowing may not be continued as a Borrowing of LIBOR Loans (and same shall automatically be converted into a Borrowing of Base Rate Loans) and any election of an Interest Period with respect thereto given by the Borrower shall have no force or effect; (3iii) any each prepayment of Eurodollar Loans pursuant to this Section 5.1 on 4.01(a) in respect of any day other than the last day Class of an Interest Period applicable thereto Term Loans made pursuant to a Borrowing shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each applied pro rata among such notice shall specify the date Term Loans; and amount of such (iv) each prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 4.01(a) shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans then remaining Scheduled Repayments thereof as directed by the Borrower. For the avoidance of doubtBorrower or, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from absent such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loansdirection, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderthereof.

Appears in 1 contract

Samples: Credit Agreement (J.Jill, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.. 107

Appears in 1 contract

Samples: Credit Agreement (National Vision Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutin each case, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent and at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (i) in the case of a LIBOR Loans, 12:00 noon (New York City time) three Business Days prior to or (xii) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans12:00 noon (New York City time) or (y) three Business Days prior to (in on, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 100,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 10,000 and in an aggregate principal amount of at least $100,000; 250,000, provided that no partial prepayment of Eurodollar LIBOR Revolving Credit Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Revolving Credit Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar LIBOR Revolving Credit Loans and (3c) any prepayment of Eurodollar LIBOR Revolving Credit Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Revolving Loan Credit Agreement (McJunkin Red Man Holding Corp)

Voluntary Prepayments. (a) The Borrower At any time and from time to time, the Borrowers shall have the right to prepay Term the Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time part, without premium or penalty (except as provided in clause (iii) below), upon written notice given to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no not later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans11:00 a.m., including Swingline Loans) or (y) three Business Days prior to each intended prepayment of LIBOR Loans and one Business Day prior to each intended prepayment of Base Rate Loans (in the case of Eurodollar other than Swingline Loans, which may be prepaid on a same-day basis), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; provided that (2i) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $5,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, and each partial prepayment of Swingline Base Rate Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least not less than $3,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof ($100,000 and $100,000; provided that , respectively, in the case of Swingline Loans), (ii) no partial prepayment of Eurodollar LIBOR Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 3.5 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount, Class and Type(s) Type of the Loans to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which made), and shall be irrevocable and shall bind the Borrowers to make such prepayment, jointly and severally, on the terms specified therein. Each prepayment in respect of any Class of Term Revolving Loans and Swingline Loans prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and 2.7(a) may be applied reborrowed, subject to any Class the terms and conditions of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansAgreement. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes Administrative Agent receives a notice of Term Loansprepayment under this Section, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject Administrative Agent will give prompt notice thereof to the provisions of Sections 5.2(d) and 5.2(e). At Lenders; provided that if such notice has also been furnished to the Borrower’s election in connection Lenders, the Administrative Agent shall have no obligation to notify the Lenders with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrespect thereto.

Appears in 1 contract

Samples: Credit Agreement (Manning & Napier, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar Term SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be substantially in the form attached hereto as of Exhibit N and be L (the “Notice of Prepayment”) given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City timei) in the case of Term SOFR Loans, three (x3) on the date of such prepayment Business Days prior to, (ii) in the case of ABR Loans, including Swingline Loansone (1) Business Day prior to or (yiii) three Business Days prior to (in the case of Eurodollar Swingline Loans, on, the date of such prepayment (or, in any case under the foregoing clause (a)(i) or clause (a)(ii), and, in each case, such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) and shall promptly notify be transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; and (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 250,000 and in an aggregate principal multiples of $50,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 250,000 and each partial prepayment in multiples of $50,000 in excess thereof and (iii) Swingline Loans shall be in a multiple minimum amount of $100,000 and in an aggregate principal amount multiples of at least $100,00025,000 in excess thereof; provided that no partial prepayment of Eurodollar Term SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Term SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaidTerm SOFR Loans. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (1) applied to the Class or Classes of Loans as the Borrower may specify and (2) with respect to prepayments of Term Loans, applied to reduce the Repayment Amounts scheduled amortization payments of the applicable Class of Term Loans, as the case may be, in each case, in such order (including order of application to scheduled amortization payments) as the Borrower may determine and may be applied to any Class specify in the Notice of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansPrepayment. In the event that the Borrower does not specify the order in which to apply prepayments of Term Loans to reduce Repayment Amounts scheduled installments of principal or as between Classes of Term LoansLoans in the Notice of Prepayment, the Borrower shall be deemed to have elected that such proceeds prepayment be applied to reduce the Repayment Amounts scheduled installments of principal in direct order of maturity and/or on a pro rata basis with the applicable Class or Classes, if a Class or Classes were specified, or among all Classes of Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)Loans then outstanding, if no Class was specified. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Loan of a Defaulting Lender.. 153

Appears in 1 contract

Samples: Credit Agreement (Surgery Partners, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay its Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except as set forth in Section 5.1(b)each case, without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans denominated in Dollars or Euro, three Business Days prior to, (ii) in the case of LIBOR Loans denominated in an Alternative Currency, four Business Days prior to, (iii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (iv) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term LIBOR Loans denominated in Dollars or Revolving Credit Loans any Alternative Currency other than Euro shall be in a multiple minimum amount of $500,000 5,000,000 (or the Dollar Equivalent thereof) and in an aggregate principal multiples of $1,000,000 (or the Dollar Equivalent thereof) in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, (iii) any Loans denominated in Euro shall be in a minimum amount of €5,000,000 and in multiples of €1,000,000 in excess thereof and (iv) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3c) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans Subject to be prepaid. Each Section 2.14(g), each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and any Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and specify; provided that Extended Term Loans may be applied to any Class of Term Loans as directed by prepaid on a pro rata basis or less than pro rata basis (but not a greater than pro rata basis) with the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that from which they were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)converted. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (PRA Health Sciences, Inc.)

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Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement including Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to, or (iii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiplies of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubtthereto, the Borrower may shall, promptly after receipt of a written request by any applicable Lender (i) prepay Term Loans which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of an Existing Term Loan Class such Lender any amounts required pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)2.11. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Abl Credit Agreement (Academy Sports & Outdoors, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender. 107 National Vision Holdings, Inc. has requested confidential treatment of this registration statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission.

Appears in 1 contract

Samples: First Lien Credit Agreement (National Vision Holdings, Inc.)

Voluntary Prepayments. Borrower may at any time on at least five days' prior written notice to each Co-Agent, (ai) The voluntarily prepay all or part of the Term Loan or (ii) voluntarily prepay all or part of the Revolving Loan and permanently reduce (but not terminate) the Revolving Loan Commitment; provided, that (A) any such prepayments or reductions shall be in a minimum amount of $5,000,000 and integral multiples of $1,000,000 in excess of such amount and (B) the Revolving Loan Commitment shall not be reduced to an amount less than the greater of (I) $75,000,000 and (II) the L/C Sublimit. Borrower may at any time on at least ten days' prior written notice to Co-Agents terminate the Revolving Loan Commitment; provided, that upon such termination all Loans and other Obligations shall be immediately due and payable in full and Borrower shall have make arrangements, in accordance with the right to prepay Term Loansterms and conditions of Annex B, for the satisfaction of any outstanding Letter of Credit Obligations. Any such voluntary prepayment and any such reduction or termination of the Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Loan Commitment must be accompanied by payment of the Fee required by Section 5.1(b1.9(c), premium or penaltyif any, each Co-Agent's and each Lender's out-of-pocket expenses, and payment of any LIBOR funding breakage costs in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of accordance with Section 1.13(b). Upon any such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) reduction or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each termination of the relevant Lenders Revolving Loan Commitment, Borrower's right to request Revolving Credit Advances, or the relevant Swingline Lenderrequest that Letter of Credit Obligations be incurred on its behalf, or request Swing Line Advances, shall simultaneously be permanently reduced or terminated, as the case may be; provided, (2) each that a permanent reduction of the Revolving Loan Commitment shall require a corresponding pro rata reduction in the L/C Sublimit. Each notice of partial prepayment shall designate the Loan or other Obligations to which such prepayment is to be applied; provided, that any partial prepayment of any Borrowing of the Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar Loans Loan made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce prepay the Repayment Amounts in such order as scheduled installments of the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct inverse order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lendermaturity.

Appears in 1 contract

Samples: Credit Agreement (Western Digital Corp)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b4.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed substantially in writing) the form of Exhibit M of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 2:00 p.m. (New York City timei) in the case of LIBOR Loans, three (x3) on the date of such prepayment Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loansone (1) Business Day prior to the date of such prepayment (or, in any case under the foregoing clause (a)(i) or clause (y) three Business Days prior to (in the case of Eurodollar Loansa)(ii), and, in each case, such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) and shall promptly notify be transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 in excess thereof, and (ii) any ABR Loans shall be in a minimum amount of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided provided, that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans; and (3c) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than prior to the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with thereto, the applicable provisions Borrower shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (1) applied to reduce the Repayment Amounts in such order Class or Classes of Loans as the Borrower may determine specify and may be (2) with respect to prepayments of Term Loans, applied to reduce Initial Term Loan Repayment Amounts, any Class New Term Loan Repayment Amounts, any Replacement Term Loan Repayment Amount, any Refinancing Term Loan Repayment Amount and any Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order (including order of Term Loans application to scheduled amortization payments) as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loansspecify. In the event that the Borrower does not specify the order in which to apply prepayments of Term Loans to reduce Repayment Amounts scheduled installments of principal or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds prepayment be applied to reduce the Repayment Amounts scheduled installments of principal in direct order of maturity and/or on a pro rata basis with the applicable Class or Classes, if a Class or Classes were specified, or among all Classes of Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)Loans then outstanding, if no Class was specified. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Intercreditor Agreement (Aveanna Healthcare Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term LoansLoans of any Class, Revolving Credit Loansin each case, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except without premium or penalty (other than as set forth in Section 5.1(b), premium or penalty), in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar Eurocurrency Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (i) 12:00 Noon (New York City time) (x) on in the case of Eurocurrency Loans, three Business Days prior to the date of such prepayment or (ii) 11:00 a.m. (New York City time) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit Eurocurrency Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $100,000 1,000,000 and in an aggregate principal amount multiples of at least $100,000; 500,000 in excess thereof, provided that no partial prepayment of Eurodollar Eurocurrency Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Eurocurrency Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such Eurocurrency Loans; and (3) in the case of any prepayment of Eurodollar Eurocurrency Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by specify. Notwithstanding the Borrower. For the avoidance of doubtforegoing, the Borrower may (i) prepay not repay Extended Term Loans of an any Extension Series unless such prepayment is accompanied by at least a pro rata repayment of Term Loans of the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay from which such Extended Term Loans that were converted (or exchanged from such Term Loans of the Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order have otherwise been repaid in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(efull). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.102

Appears in 1 contract

Samples: Credit Agreement (Skillsoft Corp.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in on the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $5,000,000 and in multiples of $1,000,000 in excess thereof (or an amount that represents the entire remaining amount of such Borrowing or as otherwise reasonably agreed by the Administrative Agent) and (ii) any ABR Loans shall be in a minimum amount of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in excess thereof (or an aggregate principal amount that represents the entire remaining amount of at least $100,000; such Borrowing or as otherwise reasonably agreed by the Administrative Agent), provided that no partial prepayment of Eurodollar LIBOR Loans made (or deemed to have been made) pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made (or deemed to have been made) pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans , and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Claire's Holdings LLC)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, ,a Prepayment Notice specifying the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice Prepayment Notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to the Class or Classes of Term Loans as the Borrower may specify. Such notice may be given by telephone; provided that any telephonic notice must be confirmed promptly by delivery to the Administrative Agent of a written Prepayment Notice of prepayment. Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce any Term A Loan Repayment Amounts, New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (National Vision Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Term Loans, including Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in on the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $5,000,000 and in multiples of $1,000,000 in excess thereof (or an amount that represents the entire remaining amount of such Borrowing or as otherwise reasonably agreed by the Administrative Agent) and (ii) any ABR Loans shall be in a minimum amount of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in excess thereof (or an aggregate principal amount that represents the entire remaining amount of at least $100,000; such Borrowing or as otherwise reasonably agreed by the Administrative Agent), provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans , and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubtthereto, the Borrower may shall, promptly after receipt of a written request by any applicable Lender (i) prepay Term Loans which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of an Existing Term Loan Class such Lender any amounts required pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)2.11. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Abl Credit Agreement (Claire's Holdings LLC)

Voluntary Prepayments. (a) The Borrower shall have the right to voluntarily prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, Advances in whole or in part from time upon giving two (2) Business Days’ prior written notice to time on the following terms and conditions: (1) the Agent; provided, however, with respect to Swing Line Loans comprised of Alternate Base Rate Advances, Borrower shall give have the Administrative right to prepay such Advances in whole or in part upon giving notice to the Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent prior to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 2:00 p.m. (New York City time) (x) on the date of such prepayment. Upon receipt of such notice, the Agent shall promptly notify each Lender of the contents thereof and of such Lender’s percentage participation of such prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein and (a) no LIBOR Rate Advance may be prepaid prior to the last day of its Interest Period unless, simultaneously therewith, the Borrower pays to the Agent for the benefit of the affected Lenders, all sums due under Section 2.15 hereof; and (b) each partial prepayment shall be made (i) in the case of ABR Loansany LIBOR Rate Advance denominated in Dollars, including Swingline Loansin the minimum amount of $250,000 and integral multiples of $100,000, (ii) or (y) three Business Days prior to (in the case of Eurodollar Loans)any LIBOR Rate Advance denominated in Sterling, andin the minimum amount of £250,000 and integral multiples of £100,000, and (iii) in the case of a prepayment of an Alternate Base Rate Advance, in a minimum aggregate amount of $250,000 and integral multiples of $100,000 (or, in each case, if less, the Administrative Agent shall promptly notify each aggregate amount of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2) each partial outstanding balance). The prepayment of any Borrowing of the Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and (3) any prepayment of Eurodollar Loans Loan pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto 2.07 shall be subject applied to compliance the remaining principal installments of the Term Loan in order of maturity in order of maturity and to the Term Loan Lenders on a ratable basis until repayment of the Term Loan in full. The amount of the Term Loan may not be reborrowed and each Lenders’ Term Loan shall proportionately and permanently be reduced by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans Loan prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to 2.07. Prepayments of any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Revolving Credit Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also 2.07 may be subject to reborrowed until the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting LenderMaturity Date.

Appears in 1 contract

Samples: First Lien Credit Agreement (Cardtronics LP)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case -125- of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class or Classes of Term Loans as directed by the BorrowerBorrowers may specify. For the avoidance Each prepayment in respect of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be Borrowers may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Initial Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Delayed Draw Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrowers may specify. At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.. (b) In the event that, on or prior to the six-month anniversary of the Closing Date, the Borrowers (i) make any prepayment of Initial Term Loans or Delayed Draw Term Loans in connection with any Repricing Transaction the primary purpose of which is to decrease the Effective Yield on such Initial Term Loans or Delayed Draw Term Loans, as applicable, or (ii) effect any amendment of this Agreement resulting in a Repricing Transaction the primary purpose of which is to decrease the Effective Yield on the Initial Term Loans or Delayed Draw Term Loans, as applicable, the Borrowers shall pay to the Administrative Agent, for the ratable account of each of the applicable Lenders, (x) in the case of clause (i), a prepayment premium of 1.00% of the principal amount of the Initial Term Loans or Delayed Draw Term Loans, as applicable, being prepaid in connection with such Repricing Transaction and (y) in the case of clause (ii), an amount equal to 1.00% of the aggregate amount of the applicable Initial Term Loans or Delayed Draw Term Loans, as applicable, outstanding immediately prior to such amendment that are subject to an effective pricing reduction pursuant to such Repricing Transaction. 5.2

Appears in 1 contract

Samples: Credit Agreement

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the BrightView Holdings, Inc. has requested confidential treatment of this registration statement and associated correspondence pursuant to Rule 83 of the Securities and Exchange Commission. Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof, and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Class or Classes of Loans as the Borrower may specify, as the case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by specify. Notwithstanding the Borrower. For the avoidance of doubtforegoing, the Borrower may (i) prepay not repay Extended Term Loans of an any Extension Series unless such prepayment is accompanied by at least a pro rata repayment of Loans of the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay from which such Extended Term Loans that were converted (or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an the Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order have otherwise been repaid in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(efull). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Lien Credit Agreement (BrightView Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans may at any time and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time to time (i) voluntarily prepay all or part of the Advances, (ii) on at least five (5) Business Days’ prior written notice to Administrative Agent, permanently reduce (but not terminate the following terms and conditions: (1Revolving Loan Commitment except in accordance with the provisions below) the Borrower shall give the Administrative Agent aggregate Revolving Loan Commitment and/or Delayed Draw Term B Loan Commitment and (iii) on at the least two (2) days’ prior written notice to Administrative Agent’s Office written notice , voluntarily prepay all or part of the Term Loans or the Incremental Term Loan; provided, however, that (A) any such prepayments or telephonic notice promptly confirmed reductions shall be in writing) of its intent to make such prepayment, the a minimum amount of $250,000 and integral multiples of $50,000 in excess of such prepayment and amount in the case of Eurodollar Loansthe Advances and Revolving Loan Commitment (or such lesser amount outstanding), the specific Borrowing(s(B) pursuant to which made, which notice any such prepayments or reductions shall be in the form attached hereto as Exhibit N a minimum amount of $2,500,000 and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date integral multiples of $1,000,000 in excess of such prepayment (amount in the case of ABR Loansthe Term Loans and the Incremental Term Loan (or such lesser amount outstanding), including Swingline Loansand (C) or (y) three Business Days prior to (any such reduction in the case Revolving Loan Commitment shall only be permitted if, after giving effect thereto, Borrowing Availability less the aggregate outstanding principal balance of Eurodollar LoansAdvances shall not be less than $2,500,000. In addition, Borrower may at any time on at least five (5) Business Days’ prior written notice to Administrative Agent terminate the Revolving Loan Commitment; provided that upon the effective date of such termination, the entire portion of the principal amount of the Revolving Loan then outstanding and all other Revolver Obligations shall be immediately due and payable in full. Any such voluntary (or, per the immediately preceding sentence, required) prepayment of the Advances, the Term Loans and/or the Incremental Term Loan and any such reduction or termination of the Revolving Loan Commitment or Delayed Draw Term B Commitment must be accompanied by the payment of the fee required by Section 2.6(b), andif any, plus the payment of any LIBOR funding breakage costs in accordance with Section 2.10, if any, plus, to the extent applicable, a premium as required by Section 2.3(g). Upon any such prepayment and reduction or termination of the Revolving Loan Commitment Borrower’s right to request Advances and Letters of Credit shall simultaneously be permanently reduced or terminated, as the case may be; upon any such reduction or termination of the Delayed Draw Term B Loan Commitment Borrower’s right to request Delayed Draw Term B Loans shall simultaneously be permanently reduced or terminated, as the case may be. Each notice of prepayment shall designate the Loans or other Obligations to which such prepayment is to be applied, provided that Protective Advances and interest thereon must be repaid before any prepayment is applied to any other Loan and any partial prepayment of the Term Loans or the Incremental Term Loan made by or on behalf of Borrower shall be applied to the remaining scheduled installments of the Term Loans and the Incremental Term Loan (including, in each case, the Administrative Agent shall promptly notify final installment due on each of the relevant Lenders or Term A Loan Maturity Date, the relevant Swingline Lender, as the case may be, (2) each partial prepayment of any Borrowing of Delayed Draw Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment B Loan Maturity Date and the Class(esmaturity date with respect to the Incremental Term Loan) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct inverse order of maturity and/or a as to remaining installments (pro rata basis among Term A Loan, the Delayed Draw Term B Loan Classesand the Incremental Term Loan based on the outstanding principal balances thereof). All prepayments under this Section 5.1 reductions of the Revolving Loan Commitment shall also be subject to shared by the provisions Revolving Lenders based on their Pro Rata Shares of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Loan of a Defaulting LenderCommitment.

Appears in 1 contract

Samples: Credit Agreement (Chuy's Holdings, Inc.)

Voluntary Prepayments. (a) The At any time and from time to time, the Borrower shall have the right to prepay Term the Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time part, without premium or penalty (except as provided in clause (iii) below), upon written notice given to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no not later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) 11:00 a.m. three Business Days prior to each intended prepayment of LIBOR Loans and one Business Day prior to each intended prepayment of Base Rate Loans (in the case of Eurodollar other than Swingline Loans, which may be prepaid on a same-day basis), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; provided that (2i) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $5,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, and each partial prepayment of Swingline Base Rate Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least not less than $1,000,000 or, if greater, an integral multiple of $250,000 in excess thereof ($100,000 and $100,000; provided that , respectively, in the case of Swingline Loans), (ii) no partial prepayment of Eurodollar LIBOR Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 2.16 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount and Type(s) Type of the Loans to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which made), and shall be irrevocable and shall bind the Borrower to make such prepayment on the terms specified therein. Each prepayment in respect of any Class of Term Revolving Loans and Swingline Loans prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and 2.8 may be applied reborrowed, subject to any Class the terms and conditions of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansAgreement. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes Administrative Agent receives a notice of Term Loansprepayment under this Section, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject Administrative Agent will give prompt notice thereof to the provisions of Sections 5.2(d) and 5.2(e). At Lenders; provided that if such notice has also been furnished to the Borrower’s election in connection Lenders, the Administrative Agent shall have no obligation to notify the Lenders with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrespect thereto.

Appears in 1 contract

Samples: Credit Agreement (Empire District Electric Co)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutwithout premium or penalty, except as set forth in Section 5.1(b4.1(b), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar LIBOR Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment one Business Day prior to (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar LIBOR Loans), and, in each case, ) the date of such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,0001,000,000; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount $5,000,000 for Eurodollar Loans LIBOR Loans; and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 4.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 4.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 4.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Exist- ing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 4.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro pro-rata basis among Term Loan Classes. All prepayments under this Section 5.1 4.1 shall also be subject to the provisions of Sections 5.2(d4.2(c) and 5.2(e4.2(d). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Security Agreement (Tesoro Corp /New/)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed substantially in writing) the form of Exhibit M of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 2:00 p.m. (New York City timei) in the case of LIBOR Loans, three Business Days prior to or (xii) on the date of such prepayment (in the case of ABR Loans, including Swingline Loansone (1) Business Day prior to the date of such prepayment (or, in any case under the foregoing clause (a)(i) or clause (y) three Business Days prior to (in the case of Eurodollar Loansa)(ii), and, in each case, such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) and shall promptly notify be transmitted by the Administrative Agent to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 in excess thereof, and (ii) any ABR Loans shall be in a minimum amount of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided provided, that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans; and (3c) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than prior to the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with thereto, the applicable provisions Borrower shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (1) applied to reduce the Repayment Amounts in such order Class or Classes of Loans as the Borrower may determine specify and may be (2) with respect to prepayments of Term Loans, applied to reduce Initial Term Loan Repayment Amounts, any Class New Term Loan Repayment Amounts, any Replacement Term Loan Repayment Amount, any Refinancing Term Loan Repayment Amount and any Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order (including order of Term Loans application to scheduled amortization payments) as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loansspecify. In the event that the Borrower does not specify the order in which to apply prepayments of Term Loans to reduce Repayment Amounts scheduled installments of principal or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds prepayment be applied to reduce the Repayment Amounts scheduled installments of principal in direct order of maturity and/or on a pro rata basis with the applicable Class or Classes, if a Class or Classes were specified, or among all Classes of Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)Loans then outstanding, if no Class was specified. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Intercreditor Agreement (Aveanna Healthcare Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement including Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, threetwo Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to, or (iii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiplies of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubtthereto, the Borrower may shall, promptly after receipt of a written request by any applicable Lender (i) prepay Term Loans which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of an Existing Term Loan Class such Lender any amounts required pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)2.11. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Abl Credit Agreement (Academy Sports & Outdoors, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b)Sections 2.11, without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Revolver Administrative Agent at the Revolver Administrative Agent’s Office written notice (substantially in the form of Exhibit G or telephonic notice promptly confirmed in writingsuch other form as may be reasonably acceptable to the Revolver Administrative Agent) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar Term SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 12:00 noon (New York City time) (i) in the case of Term SOFR Loans, two (2) Business Days prior to or (ii) in the case of ABR Loans one Business Day prior to 1:00 p.m. (New York City time) (x) on the date of such prepayment (in and shall promptly be transmitted by the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Revolver Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment in multiples of Swingline $100,000 in excess thereof and (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar Term SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Term SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such Term SOFR Loans, and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by Payment Date, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Revolver Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Class or Classes of Loans and to the Lender or Lenders as the Borrower may specify, in each case, in such order as the Borrower may determine and may be applied specify, including to any Class Existing Revolving Credit Classes of Revolving Credit Loans prior to any application to other Classes of Revolving Credit Loans, and to any Incremental Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant prior to this Section 5.1 without any requirement application to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Revolving Credit Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lendervice versa.

Appears in 1 contract

Samples: Credit Agreement (Altus Power, Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of SOFR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (iii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such SOFR Loans and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class or Classes of Term Loans as directed by the BorrowerBorrowers may specify. For the avoidance Each prepayment in respect of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be Borrowers may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-2 Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Tranche B-5-6 Term Loan Repayment Amounts, Tranche B-4 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrowers may specify. At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (GoDaddy Inc.)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement including Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Lead Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Lead Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans, three (3) Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to, or (iii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiplies of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (Bountiful Co)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof, and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Class or Classes of Loans as the Borrower may specify, as the case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by specify. Notwithstanding the Borrower. For the avoidance of doubtforegoing, the Borrower may (i) prepay not repay Extended Term Loans of an any Extension Series unless such prepayment is accompanied by at least a pro rata repayment of Loans of the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay from which such Extended Term Loans that were converted (or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an the Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order have otherwise been repaid in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(efull). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (BrightView Holdings, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b) or Section 5.1(c), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office (and, in the case of a Swingline Loan, the Swingline Lender) written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and (ii) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal amount multiples of at least $1,000,000 in excess thereof and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine and may be applied to specify. Each prepayment in respect of any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-1 Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Tranche B-3 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrower may specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Joinder Agreement (BrightSpring Health Services, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of LIBOR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans, and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce any Initial Term Loan Repayment Amounts, anyTerm A Loan Repayment Amounts, New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Joinder and Amendment Agreement (National Vision Holdings, Inc.)

Voluntary Prepayments. (a) The Each Borrower shall have the right to prepay Term the Loans (other than Bankers’ Acceptance Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part at any time and from time to time on the following terms and conditions: (1i) the such Borrower shall give the Administrative Agent prior to 11:00 A.M. (New York City time) at the Administrative AgentNotice Office (A) at least one Business Day’s Office prior written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepaymentprepay Base Rate Loans or Canadian Prime Rate Loans (or same day notice in the case of a prepayment of Swingline Loans) and (B) at least three Business Days’ prior written notice (or telephonic notice 101 promptly confirmed in writing) of its intent to prepay LIBOR Loans or EURIBOR Loans, which notice (in each case) shall specify whether Revolving Loans or Swingline Loans shall be prepaid, the amount of such prepayment and the Types of Loans to be prepaid and, in the case of Eurodollar LIBOR Loans or EURIBOR Loans, the specific Borrowing(s) Borrowing or Borrowings pursuant to which such LIBOR Loans or EURIBOR Loans were made, and which notice shall be in the form attached hereto as Exhibit N and be given by Administrative Agent shall, promptly transmit to each of the Borrower no later than 1:00 p.m. Lenders; (New York City timeii) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2) each partial prepayment of any Borrowing of Term Revolving Loans or Revolving Credit Loans pursuant to this Section 5.01(a) shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 500,000, £500,000, €500,000 or CA$500,000, as applicable (or such lesser amount as is acceptable to the Administrative Agent) and (y) each partial prepayment of Swingline Loans pursuant to this Section 5.01(a) shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,000, £100,000 or €100,000, as applicable (or such lesser amount as is acceptable to the Administrative Agent in any given case); provided that no if any partial prepayment of Eurodollar US LIBOR Loans made pursuant to a single any Borrowing shall reduce the outstanding Eurodollar principal amount of US LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar applicable thereto, then such Borrowing may not be continued as a Borrowing of US LIBOR Loans (and (3same shall automatically be converted into a Borrowing of Base Rate Loans) and any election of an Interest Period with respect thereto given by such Borrower shall have no force or effect, and if any partial prepayment of Eurodollar UK Revolving Loans made pursuant to any Borrowing shall reduce the outstanding principal amount of UK Revolving Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount applicable thereto, then such Borrowing shall automatically be converted into a Borrowing of UK Revolving Loans with an Interest Period of one week; (iii) each prepayment pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es5.01(a) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans made pursuant to this Section 5.1 a Borrowing shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the such Loans; provided that at such Borrower’s election in connection with any prepayment of Revolving Loans pursuant to this Section 5.15.01(a), such prepayment shall not not, so long as no Default or Event of Default then exists, be applied to any Revolving Loan of a Defaulting Lender; and (iv) the respective Borrower shall pay all compensation due with respect to such prepayment specified in Section 2.11 concurrently with such prepayment. Prepayments of Bankers’ Acceptance Loans may not be made prior the maturity date of the applicable underlying Bankers’ Acceptance.

Appears in 1 contract

Samples: Credit Agreement (Mobile Mini Inc)

Voluntary Prepayments. (a) The Borrower shall have the right to --------------------- prepay Term the Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part at any time and from time to time on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent prior to 12:00 Noon (New York time) at its Notice Office (x) at least one Business Day prior to the Administrative Agent’s Office date that a prepayment of Base Rate Loans or Swingline Loans is to be made prior written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepaymentprepay Base Rate Loans and (y) at least three Business Days' prior written notice (or telephonic notice promptly confirmed in writing) of its intent to prepay Eurodollar Loans, whether Term Loans, Revolving Loans or Swingline Loans shall be prepaid, the amount of such prepayment and the Types of Loans to be prepaid and, in the case of Eurodollar Loans, the specific Borrowing(s) Borrowing or Borrowings pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such prepayment (notice, except in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify transmit to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Banks; (2ii) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least (x) $1,000,000 and each partial prepayment (or, if less, the full amount of such outstanding Loans) in the case of Term Loans, (y) $500,000 (or, if less, the full amount of such outstanding Loans) in the case of Revolving Loans or (z) $100,000 (or, if less, the full amount of Swingline Loans shall be then outstanding) in a multiple the case of $100,000 and in an aggregate principal amount of at least $100,000Swingline Loans; provided that no if any partial prepayment of Eurodollar Loans made pursuant to a single any Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than (1) in the Minimum case of Term Loans, $5,000,000 and (2) in the case of Revolving Loans, $1,000,000, then such Borrowing Amount for may not be continued as a Borrowing of Eurodollar Loans and any election of an Interest Period with respect thereto given by the Borrower shall have no force or effect; (3iii) any prepayment prepayments of Eurodollar Loans made pursuant to this Section 5.1 4.01 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance accompanied by the Borrower with the applicable provisions of amounts required under Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es1.11; (iv) and Type(s) of Loans to be prepaid. Each each prepayment in respect of any Class Loans made pursuant to a Borrowing shall, except as set forth below, be applied pro rata among such Loans; and (v) in the event of Term certain --- ---- refusals by a Bank as provided in Section 13.12(b) to consent to certain proposed changes, waivers, discharges or terminations with respect to this Agreement which have been approved by the Required Banks, the Borrower may, upon five (5) Business Days' written notice to the Administrative Agent at its Notice Office (which notice, except in the case of Swingline Loans, the Administrative Agent shall promptly transmit to each of the Banks) repay all Loans, together with accrued and unpaid interest, Fees, and other amounts owing to such Bank (or owing to such Bank with respect to each Tranche which gave rise to the need to obtain such Bank's individual consent) in accordance with said Section 13.12(b) so long as (A) in the case of the repayment of Revolving Loans for any Bank pursuant to this clause (v) the Revolving Loan Commitment of such Bank is terminated concurrently with such repayment, and (B) the consents required by Section 13.12(b) in connection with the repayment pursuant to this clause (v) have been obtained; provided that at the Borrower's election (and with the -------- consent of the Administrative Agent, unless the Administrative Agent is the Defaulting Bank) in connection with any prepayment of Revolving Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.14.01, such prepayment shall not be applied to any Revolving Loan of a Defaulting LenderBank. Each prepayment of principal of Term Loans pursuant to this Section 4.01 shall be applied to reduce, in order of maturity for Scheduled Repayments, the next succeeding four remaining Scheduled Repayments of such Term Loans and thereafter, to the then remaining Scheduled Repayments of such Term Loans pro rata based upon the then remaining principal amount of each --- ---- Scheduled Repayment.

Appears in 1 contract

Samples: Credit Agreement (Coinmach Laundry Corp)

Voluntary Prepayments. (a) The At any time and from time to time, each Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit the Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penaltyof any Class made to such Borrower, in whole or in part from time part, without premium or penalty (except as provided in clause (iii) below), upon written notice given to time on the following terms and conditions: Administrative Agent not later than 12:00 noon, Local Time, three (3) Business Days prior to each intended prepayment of LIBOR Loans, one (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) Business Day prior to each intended prepayment of its intent to make such prepayment, the amount of such prepayment Base Rate Loans and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (New York City time) (x) on the date of such each intended prepayment (in the case of ABR LIBOR Market Index Rate Loans, including Swingline Loans) or provided that (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, (2i) each partial prepayment of any Borrowing of Term LIBOR Loans or Revolving Credit Multicurrency Swingline Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $5,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, and each partial prepayment of Swingline Base Rate Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least not less than $3,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof ($100,000 and $100,000; provided that , respectively, in the case of Dollar Swingline Loans), (ii) no partial prepayment of Eurodollar LIBOR Loans or Multicurrency Swingline Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to or Multicurrency Swingline Loans, respectively, under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 2.18 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount, Class, Currency and Type(s) Type of the Loans to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which made), and shall be irrevocable and shall bind the applicable Borrower to make such prepayment on the terms specified therein. Each prepayment in respect of any Class of Term Revolving Loans and Swingline Loans prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and 2.8(a) may be applied reborrowed, subject to any Class the terms and conditions of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansAgreement. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes Administrative Agent receives a notice of Term Loansprepayment under this Section, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject Administrative Agent will give prompt notice thereof to the provisions of Sections 5.2(d) and 5.2(e). At Lenders; provided that if such notice has also been furnished to the Borrower’s election in connection Lenders, the Administrative Agent shall have no obligation to notify the Lenders with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrespect thereto.

Appears in 1 contract

Samples: Credit Agreement (IntercontinentalExchange Group, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditionsconditions and subject to clause (b) and (c) below: (1a) the Borrower shall give the Administrative Agent and at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. (i) 10:00 a m. (New York City time) one Business Day (xor, in the case of LIBOR Loans, three (3) on Business Days) prior to, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2b) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 1,000,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,0005,000,000; provided that no partial prepayment of Eurodollar Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans and (3c) any prepayment of Eurodollar LIBOR Term Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify At the date and amount Borrower’s election, prepayments of such prepayment and Terms Loans pursuant to this Section 5.1 may be applied pro rata among the Class(es) and Type(s) of Loans to be prepaidTerm Loans. Each prepayment in respect of any Class tranche of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts Term Loans in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)determine. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic such other form of notice promptly confirmed in writingas may be agreed by the Administrative Agent) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of LIBOR Loans, three Business Days prior to such prepayment or (ii) in the case of ABR Loans, including Swingline Loans) or (y) three Loans one Business Days Day prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, such prepayment; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple minimum amount of $2,500,000 and in multiples of $500,000 in excess thereof and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline (ii) any ABR Loans shall be in a multiple minimum amount of $1,000,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans and such LIBOR Loans; (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrower shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11 and (4) any such prepayment shall be subject to compliance by the Borrower with payment of the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaidPrepayment Premium if then applicable. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) applied to reduce Initial Term Loan Repayment 103 Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderspecify.

Appears in 1 contract

Samples: Lien Credit Agreement (HireRight GIS Group Holdings, LLC)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of SOFR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (iii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such SOFR Loans and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class or Classes of Term Loans as directed by the BorrowerBorrowers may specify. For the avoidance Each prepayment in respect of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be Borrowers may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-2 Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Tranche B-5 Term Loan Repayment Amounts, Tranche B-4 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrowers may specify. At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (GoDaddy Inc.)

Voluntary Prepayments. (a) The At any time and from time to time, the Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit the Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), premium or penaltyof any Class, in whole or in part from time part, without premium or penalty (except as provided in clause (iii) below), upon written notice given to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no not later than 1:00 p.m. 11:00 a.m., Local Time, three (New York City time3) (x) on the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to each intended prepayment of LIBOR Loans and one (in the case 1) Business Day prior to each intended prepayment of Eurodollar Base Rate Loans (other than Swingline Loans, which may be prepaid on a same-day basis), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, provided that (2i) each partial prepayment of any Borrowing of Term Loans or Revolving Credit LIBOR Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least not less than $5,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof, and each partial prepayment of Swingline Base Rate Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least not less than $3,000,000 or, if greater, an integral multiple of $1,000,000 in excess thereof ($100,000 and $100,000; provided that , respectively, in the case of Swingline Loans), (ii) no partial prepayment of Eurodollar LIBOR Loans made pursuant to a any single Borrowing shall reduce the aggregate outstanding Eurodollar principal amount of the remaining LIBOR Loans made pursuant to under such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar Loans $5,000,000 or to any greater amount not an integral multiple of $1,000,000 in excess thereof, and (3iii) any unless made together with all amounts required under Section 2.17 to be paid as a consequence of such prepayment, a prepayment of Eurodollar Loans pursuant to this Section 5.1 a LIBOR Loan may be made only on any day other than the last day of an the Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11thereto. Each such notice shall specify the proposed date and amount of such prepayment and the Class(es) aggregate principal amount, Class and Type(s) Type of the Loans to be prepaidprepaid (and, in the case of LIBOR Loans, the Interest Period of the Borrowing pursuant to which made), and shall be irrevocable and shall bind the Borrower to make such prepayment on the terms specified therein. Each prepayment in respect of any Class of Term Revolving Loans and Swingline Loans prepaid pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and 2.7(a) may be applied reborrowed, subject to any Class the terms and conditions of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term LoansAgreement. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes Administrative Agent receives a notice of Term Loansprepayment under this Section, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject Administrative Agent will give prompt notice thereof to the provisions of Sections 5.2(d) and 5.2(e). At Lenders; provided that if such notice has also been furnished to the Borrower’s election in connection Lenders, the Administrative Agent shall have no obligation to notify the Lenders with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrespect thereto.

Appears in 1 contract

Samples: Credit Agreement (Intercontinentalexchange Inc)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans and Revolving Loans, Revolving Credit Loansas applicable, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic such other form of notice promptly confirmed in writingas may be agreed by the Administrative Agent) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans denominated in Dollars, three Business Days prior to, (ii) in the case of LIBOR Loans denominated in an Alternative Currency, four Business Days prior to, or (iii) in the case of ABR Loans, including Swingline Loans) or (y) three on the same Business Days prior to (in the case of Eurodollar Loans), and, in each case, the Administrative Agent shall promptly notify each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Day; (2) each partial prepayment of (i) any Borrowing of Term LIBOR Loans denominated in Dollars or Revolving Credit any Alternative Currency shall be in a minimum amount of the Dollar Equivalent of $2,500,000 and in multiples of the Dollar Equivalent of $500,000 in excess thereof, and (ii) any ABR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans such LIBOR Loans; and (3) in the case of any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Term Loans pursuant to this Section 5.1 shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify (but ratably to the Lenders of such Class) and (b) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the case may be, in each case, in such order as the Borrower may specify. Each prepayment in respect of any Revolving Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Revolving Loans as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may specify (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject but ratably to the provisions Lenders of Sections 5.2(d) and 5.2(esuch Class). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: First Lien Credit Agreement (HireRight GIS Group Holdings, LLC)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Loans, including Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutas applicable, except in each case, other than as set forth in Section 5.1(b), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar SOFR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 12:00 Noon (New York City time) (xi) on in the case of SOFR Loans, three Business Days prior to, (ii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (ii) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2) each partial prepayment of (i) any Borrowing of Term Loans or Revolving Credit SOFR Loans shall be in a multiple minimum amount of $500,000 5,000,000 and in an aggregate principal multiples of $1,000,000 in excess thereof, (ii) any ABR Loans (other than Swingline Loans) shall be in a minimum amount of at least $1,000,000 and each partial prepayment in multiples of $100,000 in excess thereof, and (iii) Swingline Loans shall be in a multiple minimum amount of $500,000 and in multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar SOFR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar SOFR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such SOFR Loans and (3) in the case of any prepayment of Eurodollar SOFR Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto thereto, the Borrowers shall, promptly after receipt of a written request by any applicable Lender (which request shall be subject set forth in reasonable detail the basis for requesting such amount), pay to compliance by the Borrower with Administrative Agent for the applicable provisions account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class or Classes of Term Loans as directed by the BorrowerBorrowers may specify. For the avoidance Each prepayment in respect of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be Borrowers may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-2 Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Tranche B-5 Term Loan Repayment Amounts, Tranche B-4 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrowers may specify. At the Borrower’s Borrowers’ election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Credit Agreement (GoDaddy Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, including Term Loans and Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loansas applicable, withoutin each case, except other than as set forth in Section 5.1(b) or Section 5.1(c), without premium or penalty, in whole or in part from time to time on the following terms and conditions: (1) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office (and, in the case of a Swingline Loan, the Swingline Lender) written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans or SOFR Loans, as applicable) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the date case of such prepayment LIBOR Loans, three Business Days prior to and, (ii) in the case of ABR Loans, including Swingline one Business Day prior to and (iii) in the case of SOFR Loans) or (y) , three U.S. Government Securities Business Days prior to (in the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, Lenders; (2) each partial prepayment of (i) any Borrowing of Term LIBOR Loans or Revolving Credit SOFR Loans, as applicable, shall be in a minimum amount of $5,000,000 and in multiples of $1,000,000 in excess thereof and (ii) any ABR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000; excess thereof, provided that no partial prepayment of Eurodollar LIBOR Loans or SOFR Loans, as applicable, made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans or SOFR Loans, as applicable, made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans or SOFR Loans, as applicable, and (3) in the case of any prepayment of Eurodollar LIBOR Loans or SOFR Loans, as applicable, pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by thereto, the Borrower with shall, promptly after receipt of a written request by any applicable Lender (which request shall set forth in reasonable detail the applicable provisions basis for requesting such amount), pay to the Administrative Agent for the account of such Lender any amounts required pursuant to Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 shall be applied to reduce the Repayment Amounts in such order Class or Classes of Term Loans as the Borrower may determine and may be applied to specify. Each prepayment in respect of any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement shall be (a) applied to prepay Term Loans of an Existing Term Loan the Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, Loans as the Borrower shall be deemed to have elected that such proceeds be may specify and (b) applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Tranche B-1 Term Loan Classes. All prepayments under this Section 5.1 shall also be Repayment Amounts, Tranche B-3 Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.14(g), Extended Term Loan Repayment Amounts, as the provisions of Sections 5.2(d) case may be, in each case, in such order and 5.2(e)to such Classes as the Borrower may specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.

Appears in 1 contract

Samples: First Lien Credit Agreement (BrightSpring Health Services, Inc.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penaltypenalty (subject to clause (b) below), in whole or in part from time to time on the following terms and conditions: (1i) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and in the case of Eurodollar LIBOR Loans, the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 Noon (New York City time) (x) on the date of one Business Day prior to such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to such prepayment (in the case of Eurodollar LIBOR Loans), and, in each case, ) and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may beLenders, (2ii) each partial prepayment of any Borrowing of Term Loans or Revolving Credit Loans shall be in a multiple of $500,000 and in an aggregate principal amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple of $100,000 and in an aggregate principal amount of at least $100,0001,000,000; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the Minimum Borrowing Amount for Eurodollar LIBOR Loans and (3iii) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 5.1(a) on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 5.1(a) shall be applied to reduce the Repayment Amounts in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 5.1(a) without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e). At the Borrower’s election in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lender.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Toys R Us Inc)

Voluntary Prepayments. (a) The Borrower Borrowers shall have the right to prepay Term Loans, Revolving Credit Loans, Extended Revolving Credit the Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, without, except as set forth in Section 5.1(b), without premium or penalty, subject to clause (b) below, in whole or in part from time to time on the following terms and conditions: (1i) the Borrower Borrowers shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its their intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower Borrowers no later than 1:00 p.m. 11:00 a.m. (New York City time, or London, England time in the case of Loans denominated in Euros) (xA) on in the date case of such prepayment LIBOR Loans, three Business Days prior to or (B) in the case of ABR Loans, including Swingline Loans) or (y) three one Business Days Day prior to (in to, the case date of Eurodollar Loans), and, in each case, such prepayment and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, and (2ii) each partial prepayment of (A) any Borrowing of LIBOR Loans denominated in Dollars shall be in a minimum amount of $10,000,000 (or, in the case of Loans denominated in Euros, €10,000,000) and, in the case of Dollar Term Loans or Revolving Credit Loans, in multiples of $1,000,000 in excess thereof (or, in the case of Euro Term Loans, in multiples of €1,000,000 in excess thereof) and (B) any ABR Loans shall be in a multiple of $500,000 and in an aggregate principal minimum amount of at least $1,000,000 and each partial prepayment of Swingline Loans shall be in a multiple multiples of $100,000 and in an aggregate principal amount of at least $100,000excess thereof; provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar Loans and (3) any prepayment of Eurodollar Loans pursuant to this Section 5.1 on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaidLIBOR Loans. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 4.1 shall be (x) applied to the Class or Classes of Loans as the Borrowers may specify and (y) applied to reduce Initial Term Loan Repayment Amounts, any New Term Loan Repayment Amounts, and, subject to Section 2.15(e), Extended Term Loan Repayment Amounts, as the Repayment Amounts case may be, in each case, in such order as the Borrower Borrowers may determine and may be applied to any Class of Term Loans as directed by specify. Notwithstanding the Borrower. For the avoidance of doubtforegoing, the Borrower Borrowers may (i) prepay not repay Extended Term Loans of an any Extension Series unless such prepayment is accompanied by a pro rata repayment of Loans of the Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay from which such Extended Term Loans that were converted (or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an the Existing Term Loan Class that were converted or exchanged for such Extended Term Loanshave otherwise been repaid in full). In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes A notice of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments prepayment under this Section 5.1 shall also 4.1(a) may state that such notice is conditioned upon the occurrence of one or more events specified therein, in which case such notice may be subject revoked by the Borrowers (by written notice to the provisions Administrative Agent on or prior to the specified date of Sections 5.2(dprepayment) and 5.2(e). At if such condition is not satisfied; provided that the Borrower’s election Borrowers shall pay any amounts due under Section 2.11, if any, in connection with any prepayment pursuant to this Section 5.1, such prepayment shall not be applied to any Loan of a Defaulting Lenderrevocation.

Appears in 1 contract

Samples: Credit Agreement (Ardagh Finance Holdings S.A.)

Voluntary Prepayments. (a) The Borrower shall have the right to prepay its Term Loans, Revolving Credit Loans, Extended Revolving Credit Loans and Additional/Replacement Revolving Credit Loans and Swingline Loans, withoutin each case, without premium or penalty (except as set forth in clause (b) of this Section 5.1(b5.1), premium or penalty, in whole or in part from time to time on the following terms and conditions: (1a) the Borrower shall give the Administrative Agent at the Administrative Agent’s Office written notice (or telephonic notice promptly confirmed in writing) of its intent to make such prepayment, the amount of such prepayment and (in the case of Eurodollar LIBOR Loans, ) the specific Borrowing(s) pursuant to which made, which notice shall be in the form attached hereto as Exhibit N and be given by the Borrower no later than 1:00 p.m. 12:00 noon (New York City time) (xi) on in the case of LIBOR Loans denominated in Dollars, three Business Days prior to, (ii) in the case of Loans denominated in an Alternative Currency, four Business Days prior to, (iii) in the case of ABR Loans (other than Swingline Loans), one Business Day prior to or (iv) in the case of Swingline Loans, on, the date of such prepayment (in the case of ABR Loans, including Swingline Loans) or (y) three Business Days prior to (in the case of Eurodollar Loans), and, in each case, and shall promptly be transmitted by the Administrative Agent shall promptly notify to each of the relevant Lenders or the relevant Swingline Lender, as the case may be, ; (2b) each partial prepayment of (i) any Borrowing of Term LIBOR Loans or Revolving Credit Loans denominated in Dollars shall be in a multiple minimum amount of $500,000 and 10,000,000, (ii) any ABR Loans (other than Swingline Loans) shall be in an aggregate principal a minimum amount of at least $1,000,000 1,000,000, (iii) any Loans denominated in Euro shall be in a minimum amount of €10,000,000, (iv) any Loans denominated in Sterling shall be in a minimum amount of £5,000,000 and each partial prepayment of (v) Swingline Loans shall be in a multiple minimum amount of $100,000 and in an aggregate principal amount of at least $100,000; 500,000, provided that no partial prepayment of Eurodollar LIBOR Loans made pursuant to a single Borrowing shall reduce the outstanding Eurodollar LIBOR Loans made pursuant to such Borrowing to an amount less than the applicable Minimum Borrowing Amount for Eurodollar such LIBOR Loans and (3c) any prepayment of Eurodollar LIBOR Loans pursuant to this Section 5.1 5.1(a) on any day other than the last day of an Interest Period applicable thereto shall be subject to compliance by the Borrower with the applicable provisions of Section 2.11. Each such notice shall specify the date and amount of such prepayment and the Class(es) and Type(s) of Loans to be prepaid. Each prepayment in respect of any Class of Term Loans pursuant to this Section 5.1 5.1(a) shall be (a) applied to the Class or Classes of Term Loans as the Borrower may specify and (b) as to any such Class of Term Loans, applied to reduce the Repayment Amounts thereunder in such order as the Borrower may determine and may be applied to any Class of Term Loans as directed by the Borrower. For the avoidance of doubt, the Borrower may (i) prepay Term Loans of an Existing Term Loan Class pursuant to this Section 5.1 without any requirement to prepay Extended Term Loans that were converted or exchanged from such Existing Term Loan Class and (ii) prepay Extended Term Loans pursuant to this Section 5.1 without any requirement to prepay Term Loans of an Existing Term Loan Class that were converted or exchanged for such Extended Term Loans. In the event that the Borrower does not specify the order in which to apply prepayments to reduce Repayment Amounts or as between Classes of Term Loans, the Borrower shall be deemed to have elected that such proceeds be applied to reduce the Repayment Amounts in direct order of maturity and/or a pro rata basis among Term Loan Classes. All prepayments under this Section 5.1 shall also be subject to the provisions of Sections 5.2(d) and 5.2(e)specify. At the Borrower’s election in connection with any prepayment pursuant to this Section 5.15.1(a), such prepayment shall not be applied to any Term Loan or Revolving Credit Loan of a Defaulting Lender.. Notwithstanding the foregoing, (x) the Borrower may not prepay Replacement Revolving Credit Loans that have been converted from Revolving Credit Loans pursuant to Section 2.14(b)(iii)(a) until the date on which all Revolving Credit Loans that were outstanding on the date of such conversion have been prepaid or repaid and (y) the Borrower may not prepay any Extended Term Loans which were converted from an Existing Class unless either such prepayment is accompanied by a pro rata prepayment of such Existing Class or such Existing Class has been repaid in full:

Appears in 1 contract

Samples: Restatement Agreement (HCA Holdings, Inc.)

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