Specified Prepayment Date definition
Examples of Specified Prepayment Date in a sentence
Each Lender receiving such Prepayment Offer Notice shall indicate its acceptance or rejection of such offer (and, in the case of its acceptance, its Prepayment Acceptance Amount) by delivering a Prepayment Offer Response Notice to the Agent and the Borrower no later than four Business Days prior to the Specified Prepayment Date set forth in the applicable Prepayment Offer Notice.
Not less than 10 nor more than 20 Business Days prior to the date (a "Specified Prepayment Date") on which any such prepayment is scheduled to be made, the Borrower shall deliver a Prepayment Offer Notice to the Agent, which shall promptly thereafter deliver a copy thereof to each Lender.
Each Term Loan Lender shall indicate its acceptance or rejection of such offer (and, in the case of its acceptance, its Prepayment Acceptance Amount) by delivering a Prepayment Offer Response Notice to the Agent and the Borrower no later than four Business Days prior to the Specified Prepayment Date set forth in the applicable Prepayment Offer Notice.
On such specified prepayment date (the “Specified Prepayment Date”), the Company shall pay to each holder of a Note, and there shall become due and payable, an aggregate principal amount of the Notes of such holder (together with interest accrued on such Notes to the Specified Prepayment Date and the Make-Whole Amount, if any, on the principal amount so prepaid) equal to such holder’s Ratable Portion of such ▇▇▇▇ Payment.
Each Tranche B Term Loan Lender and each Incremental Term Loan Lender shall notify the Administrative Agent at least three Business Days prior to the Specified Prepayment Date of its decision to accept or reject such prepayment, and the Administrative Agent shall notify the Borrower thereof no later than two Business Days prior to the Specified Prepayment Date (and any such Term Loan Lender failing to so notify the Administrative Agent shall be deemed to have accepted such prepayment).
On such Specified Prepayment Date, (i) the Borrower shall prepay each Term Loan Lender's Term Loans in a principal amount equal to such Term Loan Lender's Prepayment Share and (ii) the Revolving Loan Commitments shall be automatically further reduced in an aggregate amount equal to the Prepayment Amount less the aggregate principal amount of the Term Loans prepaid pursuant to clause (i) above, and the Borrower shall make any prepayments of the Revolving Loans required by clause (iii) of Section 2.05(b).
On the Specified Prepayment Date, the Borrower shall pay to the Administrative Agent for account of the relevant Tranche B Term Loans Lenders and Incremental Term Loan Lenders the aggregate amount necessary to prepay that portion of the outstanding Tranche B Term Loans and Incremental Term Loans, respectively, in respect of which such Term Loan Lenders have (or are deemed to have) accepted prepayment as described above.
During the period from any Specified Stated Prepayment Date to the associated Specified Prepayment Date, the Prepayment Amount available for prepayment on such Specified Prepayment Date shall be held in a cash collateral account with the Agent, as security for the Term Loans, and shall be invested by the Agent, at the direction of the Borrower, in Cash Equivalents.
On such specified prepayment date (the "Specified Prepayment Date"), the Borrower shall pay to the Agent Bank, for the benefit of the Banks in accordance with their Revolving Credit Facility Pro Rata Shares, and there shall become due and payable, an amount equal to the Banks' Ratable Portion (the definition of which is set forth below) of such ▇▇▇▇ Payment.