Example ContractsClausesOptional Payments
Optional Payments
Optional Payments contract clause examples

Optional. The Borrower may, upon notice to the Administrative Agent, terminate the Revolving Credit Facility, the Letter of Credit Subfacility or the Swing Line Subfacility, or from time to time permanently reduce the Revolving Credit Facility, the Letter of Credit Subfacility or the Swing Line Subfacility; provided that # any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, # any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, # the Borrower shall not terminate or reduce the Revolving Credit Facility, the Letter of Credit Subfacility or the Swing Line Subfacility, as the case may be, if, after giving effect thereto and to any concurrent prepayments hereunder, # the Total Revolving Credit Outstandings would exceed the Revolving Credit Facility, # the Outstanding Amount of L/C Obligations would exceed the Letter of Credit Subfacility, or # the Outstanding Amount of Swing Line Loans would exceed the Swing Line Subfacility.

Optional. Each Borrower may at any time and from time to time prepay the Revolving Credit Loans of such Borrower (subject, in the case of Term Benchmark Loans, RFR Loans and Short Term Loans to compliance with the terms of [Section 2.2(e)] and Section 2.13), in whole or in part, without premium or penalty, upon notice to the Administrative Agent, specifying the date and amount of prepayment and whether the prepayment is of Tranche A Loans, Tranche B Loans, Term Benchmark Loans, RFR Loans, ABR Loans, Short Term Loans, Canadian Prime Rate Loans or a combination thereof, and, if of a combination thereof, the amount allocable to each. Kimco may not prepay any Competitive Loan without the prior consent of the relevant Lender(s) thereof, except in connection with a prepayment pursuant to Section 10.10(a) hereof. Any such notice may state that it is conditioned upon the occurrence or non-occurrence of any event specified therein, in which case such notice may be revoked by the applicable Borrower (by written notice to the Administrative Agent on or before the specified date of prepayment) if such condition is not satisfied. Upon receipt of any notice of prepayment, the Administrative Agent shall promptly notify each Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with any amounts payable pursuant to Section 2.13. Subject to [Section 2.2(e)] and except in connection with a prepayment pursuant to Section 10.10(a), partial prepayments shall be in an aggregate principal amount of $5,000,000 (or, in the case of prepayments of any Alternate Currency Loans, the Dollar Equivalent of $5,000,000 at the time of such prepayment) or a whole multiple of $1,000,000 (or, in the case of prepayments of any Alternate Currency Loans, the Dollar Equivalent of $1,000,000 at the time of such prepayment) in excess thereof (or, if less, the aggregate outstanding principal amount of the Revolving Credit Loans).

Optional. The Borrower may, upon notice to the Administrative Agent pursuant to ‎delivery to the Administrative Agent of a Notice of Loan Prepayment, at any ‎time or from time to time voluntarily prepay Loans in whole or in part without ‎premium or penalty; provided that # such notice must be received by the ‎Administrative Agent not later than 11:00 a.m. (A) two Business Days prior to ‎any date of prepayment of Term SOFR Loans and # on the date of ‎prepayment of Base Rate Loans; # any prepayment of Term SOFR Loans shall ‎be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in ‎excess thereof; and # any prepayment of Base Rate Loans shall be in a ‎principal amount of $500,000 or a whole multiple of $100,000 in excess ‎thereof or, in each case, if less, the entire principal amount thereof then ‎outstanding. Each such notice shall specify the date and amount of such ‎prepayment and the Type(s) of Loans to be prepaid and, if Term SOFR Loans ‎are to be prepaid, the Interest Period(s) of such Loans. The Administrative ‎Agent will promptly notify each Lender of its receipt of each such notice, and ‎of the amount of such Lender’s Applicable Percentage of such prepayment. If ‎such notice is given by the Borrower, the Borrower shall make such prepayment ‎and the payment amount specified in such notice shall be due and payable on ‎the date specified therein. Any prepayment of any Term SOFR Loan shall be ‎accompanied by all accrued interest on the amount prepaid, together with any ‎additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Loans of the Lenders in ‎accordance with their respective Applicable Percentages.‎

Optional. The Borrower may, upon notice to the Administrative Agent, terminate the Revolving Credit Facility or the Letter of Credit Subfacility, or from time to time permanently reduce the Revolving Credit Facility or the Letter of Credit Subfacility; provided that # any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five Business Days prior to the date of termination or reduction, # any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, # the Borrower shall not terminate or reduce the Revolving Credit Facility or the Letter of Credit Subfacility, as the case may be, if, after giving effect thereto and to any concurrent prepayments hereunder, # the Total Revolving Credit Outstandings would exceed the Revolving Credit Facility or # the Outstanding Amount of L/C Obligations would exceed the Letter of Credit Subfacility.

Optional. The Borrower may, upon notice to the Administrative Agent, terminate the Revolving Facility, the Letter of Credit Sublimit or the Swingline Sublimit, or from time to time permanently reduce the Revolving Facility, the Letter of Credit Sublimit or the Swingline Sublimit; provided that # any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five (5) Business Days prior to the date of termination or reduction, # any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and # the Borrower shall not terminate or reduce # the Revolving Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Revolving Facility, # the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or # the Swingline Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swingline Loans would exceed the Letter of Credit Sublimit. Any such notice of termination or reduction pursuant to this [Section 2.06(a)] may state that it is conditioned upon the effectiveness of other credit facilities or capital raising, the consummation of a particular Disposition or the occurrence of a change of control, as specified in such notice, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.

Optional Payments. Each Borrower may from time to time and at any time upon at least one (1) Business Day’s prior written notice repay or prepay, without penalty or premium all or any part of its outstanding Floating Rate Advances in an aggregate minimum amount of $1,000,000 and in integral multiples of $100,000 in excess thereof; provided that Swing Line Loans may be paid on same-day notice. Eurocurrency Rate Advances and Term RFR Advances may be voluntarily repaid or prepaid prior to the last day of the applicable Interest Period and Daily Simple RFR Advances may be voluntarily repaid or prepaid prior to the applicable Payment Date, subject to the indemnification provisions contained in Section 4.4 in an aggregate minimum amount of $5,000,000 and in integral multiples of $1,000,000 in excess thereof (or, if less, in the full amount of any Loan), provided, that a Borrower may not so prepay Eurocurrency Rate Advances or RFR Advances unless it shall have provided at least # in the case of a Daily Simple RFR Loan denominated in Dollars, at least five (5) RFR Business Days prior written notice to the Administrative Agent before prepayment of such Daily Simple RFR Loan, # in the case of a Term RFR Loan denominated in Dollars, at least three (3) RFR Business Days prior written notice to the Administrative Agent before prepayment of such Term RFR Loan, # in the case of a Eurocurrency Rate Loan denominated in Dollars, at least three (3) Eurocurrency Banking Days prior written notice to the Administrative Agent before prepayment of such Eurocurrency Rate Loan, # in the case of an RFR Loan denominated in any Alternative Currency, at least five (5) RFR Business Days prior written notice to the Administrative Agent before prepayment of such RFR Loan, and # in the case of a Eurocurrency Rate Loan denominated in any Alternative Currency, at least four (4) Eurocurrency Banking Days prior written notice to the Administrative Agent before prepayment of such Eurocurrency Rate Loan (or five (5) Eurocurrency Banking Days in the case of a prepayment of Eurocurrency Rate Loans denominated in a Special Notice Currency).

Optional. The Borrower may, upon notice to the Administrative Agent, terminate the Revolving Facility or the Letter of Credit Sublimit, or from time to time permanently reduce the Revolving Facility or the Letter of Credit Sublimit; provided that # any such notice shall be received by the Administrative Agent not later than 11:00 a.m. five (5) Business Days prior to the date of termination or reduction, # any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof and # the Borrower shall not terminate or reduce # the Revolving Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Revolving Facility, or # the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit.

Optional Payments. Each Borrower may from time to time and at any time upon at least one (1) Business Day’s prior written notice repay or prepay, without penalty or premium all or any part of its outstanding Floating Rate Advances in an aggregate minimum amount of

Optional. The Borrower may, upon notice to the Administrative Agent, without premium or penalty, but subject to Section 3.05, terminate the Revolving Facility, the Letter of Credit Sublimit or the Swingline Sublimit, or from time to time permanently reduce the Revolving Facility, the Letter of Credit Sublimit or the Swingline Sublimit; provided, that, # any such notice shall be received by the Administrative Agent not later than 12:00 p.m. three (3) Business Days prior to the date of termination or reduction, # any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof and # the Borrower shall not terminate or reduce # the Revolving Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Revolving Facility, # the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or # the Swingline Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swingline Loans would exceed the Letter of Credit Sublimit.

Optional Payments. Subject to ‎[Section 3.04], the Company may, at any time or from time to time, upon at least three Business Days’ notice to the Administrative Agent, which may be given by # telephone or # a written notice (provided that any telephonic notice must be confirmed immediately by delivery to the Administrative Agent of a written notice) and which notice must be received by the Administrative Agent not later than # 12:00 noon (New York City time) on the date of prepayment, in the case of Base Rate Loans, # 12:00 noon (New York City time) on the third Business Day prior to the date of prepayment, in the case of Eurocurrency Rate Loans denominated in Euros or Dollars, or # 10:00 a.m. (New York City time) on the fourth Business Day prior to the date of prepayment, in case of Eurocurrency Rate Loans denominated in any other Alternative Currency, ratably prepay Loans in whole or in part, in amounts of $5,000,000 or any multiple of $1,000,000 (or, if such prepayment is in an Alternative Currency, an approximately equivalent amount in the relevant currency, as agreed by the Company and Administrative Agent) in excess thereof. Such notice of prepayment shall specify the date and amount of such prepayment and whether such prepayment is of Base Rate Loans, or Eurocurrency Rate Loans, or any combination thereof. Such notice shall not thereafter be revocable by the Company and the Administrative Agent will promptly notify each Bank thereof and of such Bank’s Commitment Percentage of such prepayment. If such notice is given by the Company, the Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to each such date on the amount prepaid and any amounts required pursuant to ‎[Section 3.04].

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