Prepayment of LIBOR Loans. Each Borrower agrees, severally but not jointly, that in the event that such Borrower prepays or is required to prepay any LIBOR Loan by acceleration or otherwise or fails to draw down or convert to a LIBOR Loan after giving notice thereof, it shall reimburse each Lender for its funding losses due to such prepayment or failure to draw. Borrowers and Lenders hereby agree that such funding losses shall consist of the sum of the discounted monthly differences for each month during the applicable or requested Interest Period, calculated as follows for each such month:
Prepayment of LIBOR Loans. Notwithstanding anything to the contrary contained in any Note or in any other agreement executed in connection herewith or therewith, the Borrower shall be permitted to prepay any portion of the Loans constituting Libor Loans only in accordance with SECTION 2.9 hereof.
Prepayment of LIBOR Loans. Borrower may prepay a LIBOR Loan only upon at least three (3) Business Days prior written notice to Lender (which notice shall be irrevocable), and any such prepayment shall occur only on the last day of the LIBOR Interest Period for such LIBOR Loan. Borrower shall pay to Lender, upon request of Lender, such amount or amounts as shall be sufficient (in the reasonable opinion of Lender) to compensate Lender for any loss, cost, or expense incurred as a result of: (i) any payment of a LIBOR Loan on a date other than the last day of the LIBOR Interest Period for such LIBOR Loan; (ii) any failure by Borrower to borrow a LIBOR Loan on the date specified by Borrower's written notice; or (iii) any failure by Borrower to pay a LIBOR Loan on the date for payment specified in Borrower's written notice. Without limiting the foregoing, Borrower shall pay to Lender a 'yield maintenance fee' in an amount computed as follows: the current rate for United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the LIBOR Interest Period chosen pursuant to the LIBOR Loan as to which the prepayment is made, shall be subtracted from the LIBOR Base Rate in effect at the time of prepayment. If the result is zero or a negative number, there shall be no yield maintenance fee. If the result is a positive number, then the resulting percentage shall be multiplied by the amount of the principal balance being prepaid. The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the LIBOR Interest Period chosen pursuant to the LIBOR Loan as to which prepayment is made. Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the LIBOR Loan as to which prepayment is made. The resulting amount shall be the yield maintenance fee due to Lender upon the prepayment of a LIBOR Loan. If by reason of an Event of Default, Lender elects to declare the Obligations to be immediately due and payable, then any yield maintenance fee with respect to a LIBOR Loan shall become due and payable in the same manner as though the Borrower exercised such right of prepayment.
Prepayment of LIBOR Loans. 22 2.12 Prepayment of Base Rate Loans.........................23 2.13
Prepayment of LIBOR Loans. Each prepayment shall be accompanied by any amount required to be paid pursuant to Section 5.4.; provided that, so long as no Default or Event of Default shall have occurred and be continuing, if any prepayment of LIBOR Loans is required to be made under this Section 2.9.(b) prior to the last day of the Interest Period therefor, in lieu of making any payment pursuant to this Section 2.9.(b) in respect of any such LIBOR Loan prior to the last day of the Interest Period therefor, the Company may, in its sole discretion, deposit an amount sufficient to make any such prepayment otherwise required to be made thereunder together with accrued interest to the last day of such Interest Period into an account held at, and subject to the sole control of, the Administrative Agent until the last day of such Interest Period, at which time the Administrative Agent shall be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of such Loans in accordance with this Section 2.9.(b). Upon the occurrence and during the continuance of any Default or Event of Default, the Administrative Agent shall also be authorized (without any further action by or notice to or from the Company or any other Loan Party) to apply such amount to the prepayment of the outstanding Loans in accordance with the relevant provisions of this Section 2.9.(b).
Prepayment of LIBOR Loans. Notwithstanding anything ------------- ------------------------- to the contrary contained in any Note or in any other agreement executed in connection herewith or therewith, the Borrower shall be permitted to prepay any portion of the Loans constituting Libor Loans only in accordance with Section ------- 2.9 hereof. ---
Prepayment of LIBOR Loans. ... Section 2.12.
Prepayment of LIBOR Loans. In the event that the Borrower prepays or is required to prepay any LIBOR Loan by acceleration or otherwise or fail to draw down or convert to a LIBOR Loan after giving notice thereof, the Borrower agrees to reimburse each Lender for its expenses and funding losses due to such prepayment or failure to draw. The Borrower and the Lenders hereby agree that such expenses and funding losses shall consist of the sum of the discounted monthly differences for each month during the applicable or requested Interest Period, calculated as follows for each such month:
Prepayment of LIBOR Loans. The Borrower shall have the right, at its election, to prepay the outstanding amount of any LIBOR Rate Loans, as a whole or in part, at any time, provided that any full or partial prepayment of the outstanding amount of any LIBOR Rate Loans pursuant to this 3.3.2 made on any day other than the last day of the Interest Period relating thereto shall be accompanied by tender of all costs incurred by the Agents and the Banks as a result thereof, including reasonable costs of redeployment of funds. The Borrower shall give the Agents, no later than 2:00 p.m. (New York City time), at least three (3) LIBOR Business Days' notice of any proposed prepayment pursuant to this 3.3.2 of LIBOR Rate Loans, specifying the proposed date of prepayment and the principal amount to be prepaid. Each such prepayment of the LIBOR Rate Loans shall be in an integral multiple of $1,000,000, shall be accompanied by the payment of costs, as described in this 3.3.2, and of accrued but unpaid interest on the principal prepaid to the date of prepayment. Each partial prepayment shall be allocated among the Banks, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Bank's Revolving Credit Note, with adjustments to the extent practicable to equalize any prior repayments not exactly in proportion. 4. LETTERS OF CREDIT 4.1.
Prepayment of LIBOR Loans. 27 2.11.1 Notice of LIBOR Loan Prepayment...................................................... 27 2.11.2 Amount of LIBOR Loan Prepayment...................................................... 27 2.11.3 LIBOR Loan Prepayment Premium........................................................ 27 2.12 Prepayment of Prime Rate Loans.................................................................... 28 2.13
