Common use of Casualty or Condemnation Prepayment Clause in Contracts

Casualty or Condemnation Prepayment. (1) In the event of substantial damage to or destruction, title defect or condemnation of all or substantially all of the Equipment, on the day specified in Lessee’s notice to Lessor of its exercise of the prepayment option (which shall be the earlier of the next applicable Rental Payment Date or sixty (60) calendar days after the casualty title defect or condemnation event) upon payment in full to Lessor (A) in the event such prepayment occurs on a Rental Payment Date, the sum of (i) all Rental Payments then due plus (ii) the then applicable Prepayment Price, which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule plus (iii) all other amounts then owing hereunder or (B) in the event such prepayment occurs on a date other than a Rental Payment Date, the sum of (i) of the applicable Prepayment Price shown on the Payment Schedule for the Rental Payment Date immediately preceding the prepayment date (or if such prepayment date occurs prior to the first Rental Payment Date, the earliest Prepayment Price shown on the Payment Schedule), which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule plus (ii) accrued interest at the Contract Rate (or Taxable Rate, as applicable) on the Outstanding Balance as of the Rental Payment Date immediately preceding the applicable prepayment date from such Rental Payment Date (or if such prepayment date occurs prior to the first Rental Payment Date, the Commencement Date) to such prepayment date plus (iii) all other amounts then owing hereunder; or

Casualty or Condemnation Prepayment. (1) In the event of substantial damage to or destruction, title defect destruction or condemnation of all or substantially all of the EquipmentEquipment listed in a Lease, on the day specified in Lessee’s notice to Lessor of its exercise of the prepayment option (which shall be the earlier of the next applicable Rental Payment Date or sixty (60) calendar days after the casualty title defect or condemnation event) upon payment in full to Lessor of (A) in the event such prepayment occurs on a Rental Payment Date, the sum of (i) all Rental Payments then due under such Lease plus (ii) the then applicable Prepayment Price, which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule Casualty Value for such Lease plus (iii) all other amounts then owing hereunder or thereunder OR, (B) in the event such prepayment for such Lease occurs on a date other than a Rental Payment Date, the sum of (i) of the applicable Prepayment Price Casualty Value shown on the Payment Schedule for such Lease for the Rental Payment Date immediately preceding the prepayment applicable date (or if of such prepayment date occurs prior to the first Rental Payment Date, the earliest Prepayment Price shown on the Payment Schedule), which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule plus (ii) accrued interest at the Contract Rate (or the Taxable Rate, as applicableRate if then in effect) on the Outstanding Balance as of the Rental Payment Date immediately preceding the applicable date of such prepayment date from such Rental Payment Date (or if the date of such prepayment date occurs prior to the first Rental Payment Date, the Commencement DateDate for such Lease) to the date of such prepayment date plus (iii) all other amounts then owing hereunder; orthereunder.

Casualty or Condemnation Prepayment. (1) In the event of substantial damage to or destruction, title defect destruction or condemnation of all or substantially all of the Equipment, on the day specified in Lessee’s notice to Lessor of its exercise of the prepayment option (which shall be the earlier of the next applicable Rental Payment Date or sixty (60) calendar days after the casualty title defect or condemnation event) upon payment in full to Lessor of (A1) in the event such prepayment occurs on a Rental Payment Date, the sum of (i) all Rental Payments then due plus (ii) the then applicable Prepayment Price, Price (which (A) prior to and including [ ] shall include a prepayment premium of 2% on the unpaid Outstanding Balance as set forth in the Payment Schedule and (B) after [ ] shall include a prepayment premium of 1% on the unpaid Outstanding Balance as set forth in the Payment Schedule) plus (iii) all other amounts then owing hereunder or OR, (B2) in the event such prepayment occurs on a date other than a Rental Payment Date, the sum of (i) of the applicable Prepayment Price (which (A) prior to and including [ ] shall include a prepayment premium of 2% on the unpaid Outstanding Balance as set forth in the Payment Schedule and (B) after [ ] shall include a prepayment premium of 1% on the unpaid Outstanding Balance as set forth in the Payment Schedule) shown on the Payment Schedule for the Rental Payment Date immediately preceding the applicable date of such prepayment date (or if the date of such prepayment date occurs prior to the first Rental Payment Date, the earliest Prepayment Price shown on the Payment Schedule), which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule ) plus (ii) accrued interest at the Contract Rate (or the Taxable Rate, as applicableRate if then in effect) on the Outstanding Balance as of the Rental Payment Date immediately preceding the applicable date of such prepayment date from such Rental Payment Date (or if the date of such prepayment date occurs prior to the first Rental Payment Date, the Commencement Date) to the date of such prepayment date plus (iii) all other amounts then owing hereunder; or

Casualty or Condemnation Prepayment. (1) In the event of substantial damage to or destruction, title defect destruction or condemnation of all or substantially all of the EquipmentEquipment listed in a Lease, on the day specified in Lessee’s notice to Lessor of its exercise of the prepayment option (which shall be the earlier of the next applicable Rental Payment Date or sixty (60) calendar days after the casualty title defect or condemnation event) upon payment in full to Lessor of (A) in the event such prepayment occurs on a Rental Payment Date, the sum of (i) all Rental Payments then due under such Lease plus (ii) the then applicable Prepayment Price, which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule Casualty Value for such Lease plus (iii) all other amounts then owing hereunder or thereunder OR, (B) in the event such prepayment for such Lease occurs on a date other than a Rental Payment Date, the sum of (i) of the applicable Prepayment Price Casualty Value shown on the Payment Schedule for such Lease for the Rental Payment Date immediately preceding the applicable date of such prepayment date (or if the date of such prepayment date occurs prior to the first Rental Payment DateDate for such Lease, the earliest Prepayment Price Casualty Value shown on the related Payment Schedule), which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule ) plus (ii) accrued interest at the Contract Rate (or the Taxable Rate, as applicableRate if then in effect) on the Outstanding Balance as of the Rental Payment Date immediately preceding the applicable date of such prepayment date from such Rental Payment Date (or if the date of such prepayment date occurs prior to the first Rental Payment Date, the Commencement DateDate for such Lease) to the date of such prepayment date plus (iii) all other amounts then owing hereunder; orthereunder.

Casualty or Condemnation Prepayment. (1) In the event of substantial damage to or destruction, title defect destruction or condemnation of all or substantially all of the Equipment, on the day specified in Lessee’s notice to Lessor of its exercise of the prepayment option (which shall be the earlier of the next applicable Rental Payment Date or sixty (60) calendar days after the casualty title defect or condemnation event) upon payment in full to Lessor of (A) in the event such prepayment occurs on a Rental Payment Date, the sum of (i) all Rental Payments then due plus (ii) the then applicable Prepayment Price, which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule Price plus (iii) all other amounts then owing hereunder or OR, (B) in the event such prepayment occurs on a date other than a Rental Payment Date, the sum of (i) of the applicable Prepayment Price shown on the Payment Schedule for the Rental Payment Date immediately preceding the applicable date of such prepayment date (or if the date of such prepayment date occurs prior to the first Rental Payment Date, the earliest Prepayment Price shown on the Payment Schedule), which shall include a prepayment premium on the unpaid Outstanding Balance as set forth in the Payment Schedule ) plus (ii) accrued interest at the Contract Rate (or the Taxable Rate, as applicableRate if then in effect) on the Outstanding Balance as of the Rental Payment Date immediately preceding the applicable date of such prepayment date from such Rental Payment Date (or if the date of such prepayment date occurs prior to the first Rental Payment Date, the Commencement Date) to the date of such prepayment date plus (iii) all other amounts then owing hereunder; or.