AR Option to Pre-Pay Community Amenities Funds Sample Clauses

AR Option to Pre-Pay Community Amenities Funds. AR, at its election, shall have the right and option to pre-pay, either in whole or in part, the funds to be deposited into the Community Amenities Trust Account pursuant to Section 10.7 hereof at any time, without premium or penalty. In the event AR elects to pre-pay the funds to be deposited into the Community Amenities Trust Account pursuant to this Section 10.8, AR shall provide ADLC with an election notice. The election notice shall, at a minimum, (i) refer to this Agreement, (ii) specify the amount that will be pre-paid by AR, and (iii) specify the anticipated date on which the payment will be made.
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