3Prepayment Sample Clauses

3Prepayment. ​ (a) With respect to the Senior Revolving Loan, the Corporation may prepay Advances outstanding thereunder from time to time, with not less than 10 Business Days prior written notice of the prepayment date and the amount, in the minimum amount of $250,000. Any amount of the Senior Revolving Loan prepaid may be re-advanced. (b) With respect to the Term Loans, the Corporation may prepay the Advances outstanding thereunder, without penalty or bonus, in an amount not to exceed 25% of the aggregate of all Advances then outstanding under the Term Loans, on each anniversary date of the first Advance made hereunder, provided in each case with not less than 30 days written notice of the Corporation's intention to prepay on such anniversary date and the proposed prepayment amount. Any prepayments to the Term Loans other than those permitted in the immediately preceding sentence may only be made on 30 days prior written notice of the prepayment date and the amount, and are subject to the Corporation paying on such prepayment date a prepayment charge equal to the lesser of (i) twelve (12) months interest and (ii) interest for the months remaining from the prepayment date to the Maturity Date, on the amount prepaid at the interest rate in effect on the applicable Term Loan as of the date of prepayment. Any amount of the Term Loan prepaid may not be re-advanced.

3Prepayment. Maker may, without premium or penalty, at any time and from time to time, prepay all or any portion of the outstanding principal balance due under this Note, provided that each such prepayment is accompanied by accrued interest on the amount of principal prepaid calculated to the date of such prepayment. In the event of any partial payment of principal outstanding on this Note, the prepayment shall be deemed to reduce the principal payments required to be made on the immediately following payment dates in consecutive succession. 1. 4Right of Set-Off. Maker shall have the right to withhold and set-off against any amount due hereunder the amount of any claim for indemnification to which Maker is determined by the written agreement of Maker and Payee or by a final arbitration award in accordance with Section 9.12 of the Purchase Agreement to be entitled under Section 7.01 of the Purchase Agreement, as provided in and subject to the limitations of Section 7.02 thereof, subject to Payee’s rights to contest any such set-off pursuant to the provisions for resolving disputes as provided in the Purchase Agreement. Prior to any such set-off, Maker shall notify Payee in writing of the amount of the set-off and the specific reason for claiming the same.