Common use of Optional Redemption of Principal Amount Clause in Contracts

Optional Redemption of Principal Amount. The Borrower will have the option of prepaying the outstanding Principal Amount (“Optional Amortizing Redemption”), in whole or in part, by paying to the Holder a sum of money equal to one hundred percent (100%) of the Principal Amount to be redeemed, together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note (the “Redemption Amount”) on the Redemption Payment Date (as defined below). The Borrower shall deliver to the Holder a notice of redemption (the “Notice of Redemption”) specifying the date for such Optional Redemption (the “Redemption Payment Date”), which date shall be not less than seven (7) business days after the date of the Notice of Redemption (the “Redemption Period”). On the Redemption Payment Date, the Redemption Amount shall be paid in good funds to the Holder. In the event the Borrower fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Notice of Redemption will be null and void.

Optional Redemption of Principal Amount. The Borrower will have the option of prepaying the outstanding Principal Amount (“Optional Amortizing Redemption”), in whole or in part, Company may prepay this Note by paying to the Holder a sum of money equal to one hundred percent (100%) of the Applicable Principal Amount to be redeemed(as defined below), together with accrued but unpaid interest thereon and any and all other sums due, accrued or payable to the Holder arising under this Note Note, the Purchase Agreement and/or any other Related Agreement (the “"Redemption Amount”") on the Redemption Payment Date (as defined below). The Borrower Company shall deliver to the Holder a written notice of redemption (the “"Notice of Redemption”") specifying the date for such Optional Redemption (the “"Redemption Payment Date”"), which date shall be not less than seven three (73) business days after the date of the Notice of Redemption (the “"Redemption Period”"). On the Redemption Payment Date, the Redemption Amount shall be paid in good funds to the Holder. In the event the Borrower Company fails to pay the Redemption Amount on the Redemption Payment Date as set forth herein, then such Notice of Redemption will be null and void. For purposes of this Section 1.2, the "Applicable Principal Amount" shall mean One Hundred percent (100%) of the original Principal Amount of the Note.