Common use of Partial Prepayment Clause in Contracts

Partial Prepayment. After the third anniversary of the Funding Date, Borrower may with the approval of Lender (which approval may be withheld in the sole and absolute discretion of Lender) make a partial prepayment of the Loan; provided that such partial prepayments may not be requested more frequently than quarterly and may not be requested for a principal amount less than $20,000,000. For any such prepayment, Borrower shall provide Lender written notice of such prepayment not later than thirty days prior to the date of such prepayment, and such written notice must state that Borrower desires to prepay the Loan and must provide the date on which such prepayment will be made, if approved by Lender. If such notice is given and the Lender approves such prepayment, Borrower shall, on the prepayment date set forth in such notice, prepay the principal amount of the Loan approved by Lender and all accrued and unpaid interest on such principal amount. No partial payment hereunder shall reduce the amount of any payment required pursuant to Section 2.3.