Example ContractsClausesPermitted Prepayment
Permitted Prepayment
Permitted Prepayment contract clause examples

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances, provided Borrower # delivers written notice to Bank of its election to prepay the Term Loan Advances at least five (5) Business Days prior to such prepayment, and # pays, on the date of such prepayment # the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, # the Prepayment Fee, # the Final Payment, # the Unused Term Loan Commitment Fee and # all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of any Growth Capital Advances advanced by the Lenders under this Agreement, provided Borrower # provides written notice to Agent of its election to prepay such Growth Capital Advance at least ten (10) days prior to such prepayment, and # pays to Agent, for the account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment # all outstanding principal plus accrued and unpaid interest in connection with the Growth Capital Advance being prepaid, # the applicable portion of the Prepayment Premium due in connection with the Growth Capital Advance being prepaid, # the applicable portion of the Final Payment due in connection with the Growth Capital Advance being prepaid, and # all other sums, if any, that shall have become due and payable, in connection with the Growth Capital Advance being prepaid, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances advanced by the Lenders under this Agreement, provided Borrower # provides written notice to Agent of its election to prepay the Term Loan Advances at least ten (10) days prior to such prepayment, and # pays to Agent, for the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment # all outstanding principal plus accrued and unpaid interest, # the Prepayment Premium, # the Final Payment, and # all other sums, if any, that shall have become due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Supplemental Term Loan Advance, provided Borrower # delivers written notice to Bank of its election to prepay the Supplemental Term Loan Advance at least ten (10) days prior to such prepayment, and # pays, on the date of such prepayment # the outstanding principal plus accrued and unpaid interest with respect to the Supplemental Term Loan Advance, # the Supplemental Prepayment Fee, # the Supplemental Final Payment, and # all other sums, if any, that shall have become due and payable with respect to the Supplemental Term Loan Advance, including interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Except as provided below, Borrower shall have no right to prepay the Credit Extensions made in respect of a Credit Facility. For the applicable Credit Facility as specified in the Credit Facility Schedule therefor, Borrower shall have the option to prepay the Prepayable Amount (as defined below) of such Credit Facility advanced by the Lenders under this Agreement, provided Borrower # provides irrevocable written notice to Agent and each Lender of its election to prepay the Prepayable Amount at least five (5) Business Days prior to such prepayment; provided that, the Borrower’s written notice may state that such notice is conditioned upon # a transaction in connection with the refinancing in full of the Obligations, or # a transaction resulting in a Change in Control, in each case, to the extent such transaction is not consummated, in which case such notice may be revoked by the Borrower (by notice to Agent on or prior to the specified effective date) if such condition is not satisfied, and # pays to Agent, for payment to each applicable Lender in accordance with its respective Pro Rata Share, on the date of such prepayment, an amount equal to the sum of # the Prepayable Amount, plus accrued interest thereon, # any fees payable under the Fee Letters by reason of such prepayment with respect to the Prepayable Amount, # the Applicable Prepayment Fee as specified in the Credit Facility Schedule for the Credit Facility being prepaid, and # all Protective Advances. The term “Prepayable Amount” means the lesser of # all of the Credit Extensions and all other Obligations under all Credit Facilities and # a portion of the Credit Extensions and related Obligations in incremental amounts of no less than $5,000,000 of principal being prepaid.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advance pursuant to [Section 1.3] below.

Permitted Prepayment. So long as an Event of Default has not occurred and is not continuing, Borrower shall have the option to prepay all, but not less than all, of the Term Loan advanced by Bank under this Agreement, provided Borrower # delivers written notice to Bank of its election to prepay the Term Loan at least thirty (30) days prior to such

Permitted Prepayment. So long as no Event of Default has occurred and is continuing, Borrower shall have the option to prepay in whole or in part the Term Loan advanced by Bank under this Agreement, provided Borrower # delivers written notice to Bank of its election to prepay the Term Loan at least thirty (30) days prior to such prepayment, and # pays, on the date of such prepayment # all outstanding principal, plus accrued and unpaid interest with respect to the prepaid Term Loan, # the applicable portion of the Final Payment and # all other sums, if any, that shall have become due and payable hereunder in connection with the prepaid Term Loan. Any partial prepayment of the Term Loan paid by Borrower shall be applied to prepay amounts owing under the Term Loan in inverse order of maturity.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances advanced by the Lenders under this Agreement, provided Borrower # provides written notice to Agent of its election to prepay the Term Loan Advances at least five (5) Business Days prior to such prepayment, and # pays to Agent, for the account of the Lenders in accordance with their respective Pro Rata Share, on the date of such prepayment # all outstanding principal plus accrued and unpaid interest, # the Prepayment Premium, # the Final Payment and # all other sums, if any, that shall have become due and payable hereunder, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Permitted Prepayment. Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances advanced by the Lenders under this Agreement, provided Borrower # provides written notice to Agent of its election to prepay the Term Loan Advances at least ten (10) days prior to such prepayment, and # pays to Agent, for the account of the Lenders in accordance with its respective Pro Rata Share, on the date of such prepayment # all outstanding principal plus accrued and unpaid interest, # the Prepayment Premium, # the Final Payment and # all other sums, if any, that shall have become due and payable, including Lenders’ Expenses and interest at the Default Rate with respect to any past due amounts.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.