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Mandatory Prepayment
Mandatory Prepayment contract clause examples
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Mandatory Prepayment Upon an Acceleration. If the Refinancing Term Loan is accelerated following the occurrence of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of # all outstanding principal with respect to the Refinancing Term Loan, plus accrued and unpaid interest thereon and # all other sums, including Bank Expenses, if any, that shall have become due and payable hereunder in connection with the Refinancing Term Loan, including interest at the Default Rate with respect to any past due amounts.

Clause 8.1 (Mandatory prepayment – illegality), Clause 8.2 (Mandatory prepayment – change of control), sub-clause 8.3.3 of Clause 8.3 (Voluntary prepayment) or Clause 32 (Pro rata sharing);

Mandatory Prepayment of Revolving Credit Facility. If at any time the Revolving Credit Exposure of the Revolving Credit Lenders exceeds the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders then in effect, then Borrower shall immediately prepay the entire amount of such excess to Administrative Agent, for the ratable account of Revolving Credit Lenders and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that Borrower shall not be required to Cash Collateralize L/C Obligations pursuant to this [Section 2.8(c)] unless after the prepayment in full of the Revolving Credit Loans, the Revolving Credit Exposure of the Revolving Credit Lenders exceeds the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders then in effect. Each prepayment required by this [Section 2.8(c)] shall be applied, first, to any Base Rate Portions then outstanding, and, second, to any Term SOFR Portions then outstanding, and if more than one Term SOFR Portion is then outstanding, to such Term SOFR Portions in such order as Borrower may direct, or if Borrower fails to so direct, as Administrative Agent shall elect.

Prepayment. The Issuer may, at its option, prepay at any time all, but not less than all, of this Note, if but only if it likewise prepays all of the Notes. Issuer may exercise the option to prepay by paying the Holder 125% of the principal amount of the Note. Issuer will give each Holder of Notes written notice of prepayment under this Section 3 not less than ten days and not more than 30 days prior to the date fixed for such prepayment. Each such notice shall specify the Prepayment Date (which shall be a Business Day), the principal amount of each Note held by such Holder to be prepaid, and any interest to be paid on the Prepayment Date.

Prepayment. Upon ten (10) Business Days’ prior written notice to Agent, Borrower may, at its option, at any time, prepay the Loans (or any portion thereof), in an amount equal to # the principal amounts of the Loans being prepaid, plus # accrued and unpaid interest thereon through and including the date of such prepayment, plus # the Applicable Premium for the portion of each Loan being prepaid, plus # any other amounts then due to . The notice of prepayment shall state the amount of principal to be prepaid under each Loan

Prepayment. [[Organization A:Organization]] shall have the option to prepay this Note at any time after the Original Issue Date at an amount equal to the Prepayment Amount.

Prepayment. Notwithstanding anything to the contrary contained in this Note, at any time during the periods set forth on the table immediately following this paragraph (the “Prepayment Periods”) or as otherwise agreed to between the Borrower and the Holder, the Borrower shall have the right, exercisable on not more than three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued interest), in full, in accordance with this Section 1.7. Any notice of prepayment hereunder (an “Optional Prepayment Notice”) shall be delivered to the Holder of the Note at its registered addresses and shall state: # that the Borrower is exercising its right to prepay the Note, and # the date of prepayment which shall be not more than three (3) Trading Days from the date of the Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower shall make payment of the Optional Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as specified by the Holder in a writing to the Borrower (which shall direction to be sent to Borrower by the Holder at least one (1) business day prior to the Optional Prepayment Date). If the Borrower exercises its right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash equal to the percentage (“Prepayment Percentage”) as set forth in the table immediately following this paragraph opposite the applicable Prepayment Period, multiplied by the sum of: # the then outstanding principal amount of this Note plus # accrued and unpaid interest on the unpaid principal amount of this Note to the Optional Prepayment Date plus # Default Interest, if any, on the amounts referred to in [clauses (w) and (x)])] plus # any amounts owed to the Holder pursuant to Section 1.4 hereof (the “Optional Prepayment Amount”).

This Note may be prepaid in full at any time upon not less than ten (10) days prior written notice, subject to a “Yield Maintenance Premium” that may be substantial. Such premium represents consideration to Lender for loss of yield and reinvestment cost. The “Yield Maintenance Premium” shall be determined by Lender and shall be an amount equal to the greater of # one percent (1%) of the amount of the Principal Indebtedness being prepaid and # the difference between # the present value at the time of prepayment of the remaining scheduled monthly payments plus the present value at the time of prepayment of the final installment of principal and interest due on the Maturity Date, both discounted on a monthly

Prepayment. At any time prior to the Maturity Date and/or the Conversion Date (as defined herein), the Company may pre-pay this Note in full or in part without penalty without the requirement for consent of the Holder. Upon prepayment of this Note in full, the Holder shall have no further rights under this Note.

Prepayment. The Borrower shall have the right to prepay any amount hereunder, in whole or in part, only in accordance with the terms set forth in Article 3 of the Loan Agreement. All partial prepayments shall be applied in the manner set forth in [Sections 3.9 and 3.10]0] of the Loan Agreement. Any prepayments made by the Borrower shall not be available for reborrowing.

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