Common use of Notice of Prepayments Clause in Contracts

Notice of Prepayments. (i) The Borrower shall notify the Administrative Agent by written notice of any prepayment hereunder (A) in the case of prepayment of a Eurodollar Rate Borrowing, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of prepayment, and (B) in the case of prepayment of a Base Rate Borrowing, not later than 11:00 a.m., New York City time, one (1) Business Day before the date of prepayment. Each such notice shall be irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.

Appears in 3 contracts

Samples: Credit Agreement (Novelis Inc.), Credit Agreement (Novelis Inc.), Security Agreement (Novelis Inc.)

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Notice of Prepayments. (i) The Borrower Company shall notify the Administrative Agent by written notice in writing of any prepayment of any Borrowing hereunder (Ai) in the case of prepayment of a Eurodollar Rate Borrowing, not later than 11:00 a.m., 12:00 Noon (New York City time, ) three (3) Business Days before the date of prepayment, prepayment and (Bii) in the case of prepayment of a Base Rate Borrowing, not later than 11:00 a.m., 12:00 Noon (New York City time, one (1) Business Day before on the date of prepaymentprepayment date. Each such notice shall be irrevocable. Each such notice irrevocable (other than to the extent provided in connection with refinancing the Obligations) and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of Net Proceeds giving rise to such prepayment. Promptly following receipt of after it receives any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.

Appears in 1 contract

Samples: Credit Agreement (CNO Financial Group, Inc.)

Notice of Prepayments. (i) The Borrower Company shall notify the Administrative Agent by written notice in writing of any prepayment of any Borrowing hereunder (Ai) in the case of prepayment of a Eurodollar Rate Borrowing, not later than 11:00 a.m., 12:00 Noon (New York City time, ) three (3) Business Days before the date of prepayment, prepayment and (Bii) in the case of prepayment of a Base Rate Borrowing, not later than 11:00 a.m., 12:00 Noon (New York City time, one (1) Business Day before on the date of prepaymentprepayment date. Each such notice shall be irrevocable. Each such notice irrevocable (other than to the extent provided in connection with refinancing the Obligations) and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, without limiting Section 6.02, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of after it receives any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.

Appears in 1 contract

Samples: Credit Agreement (Conseco Inc)

Notice of Prepayments. (i) The Borrower shall notify the Administrative Agent by written notice telephone (confirmed by facsimile) of any prepayment of any Borrowing pursuant to Section 2.09(a) hereunder (Ai) in the case of prepayment of a Eurodollar Rate Borrowing, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of prepayment, prepayment and (Bii) in the case of prepayment of a Base Rate an ABR Borrowing, not later than 11:00 a.m., New York City time, one (1) Business Day before the date of prepayment. The Borrower shall notify the Administrative Agent by telephone (confirmed by facsimile) of any prepayment of any Borrowing pursuant to subsections (b), (c), (d) and (e) of this Section at least six Business Days before the date of prepayment. Each such notice shall be irrevocable. Each such notice irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.

Appears in 1 contract

Samples: Credit Agreement (Marvell Technology Group LTD)

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Notice of Prepayments. (ib) The Borrower shall notify the Administrative Agent by written notice of any prepayment hereunder (A) in the case of prepayment of a Eurodollar Rate Borrowing, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of prepayment, and (B) in the case of prepayment of a Base Rate Borrowing, not later than 11:00 a.m., New York City time, one (1) Business Day before the date of prepayment. Each such notice shall be irrevocable. Each such notice shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably detailed calculation of the amount of such prepayment. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof.

Appears in 1 contract

Samples: Credit Agreement (Novelis Inc.)

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