Common use of Prepayment Application Clause in Contracts

Prepayment Application. Each prepayment of any principal amount of the Loans shall be accompanied by (a) accrued interest on the amount being prepaid to the date of such prepayment and (b) the applicable Premium Amount, if any. Any partial prepayments of the Loans in accordance with Section 2.06(a) shall be applied to the then outstanding principal balance of the Loans. Any partial prepayments of the Loans in accordance with Section 2.06(b) or Section 2.08(g) shall be applied pro rata to the then outstanding installments of principal of the Loans.

Prepayment Application. Each prepayment of any principal amount of the Loans shall be accompanied by (a) accrued interest on the amount being prepaid to the date of such prepayment and (b) the applicable Premium Amount, if anyprepayment. Any partial prepayments of the Loans in accordance with Section 2.06(a) shall be applied to the then outstanding principal balance of the Loans. Any partial prepayments of the Loans in accordance with Section 2.06(b) or Section 2.08(g) shall be applied pro rata to the then outstanding installments of principal of the Loans.