Prepayment Option Clause Samples

Prepayment Option. To satisfy in full the Village’s obligations under this Obligation, the Village shall have the right to prepay all or a portion of the outstanding principal balance of this Obligation at any time, at par and without penalty.

Prepayment Option. Notwithstanding the provisions of Section 11.d of the General Terms and Conditions attached hereto as Exhibit A, and if no event of default exists, the LEA may at its option elect to prepay the Installment Payments due pursuant to an Appendix in full on the dates indicated on “Part 2--Payment Schedule” attached to each Appendix. The LEA agrees to provide written notice to CONTRACTOR of its intention to prepay not less than thirty (30) days prior to the applicable Installment Payment Date. If the LEA exercises its option to prepay its obligations to pay the Installment Payments pursuant to an Appendix in full, the Prepayment Price shall be the amount shown as such on the Payment Schedule attached to the Appendix.

Prepayment Option. The Town may not prepay the principal component of the Lease Payments prior to January 15, 2030. The Authority hereby grants an option to the Town to prepay the principal component of the Lease Payments in full, by paying the aggregate unpaid principal components of the Lease Payments as set forth in Exhibit D here- to, or in part, on and after January 15, 2030, in a prepayment amount equal to the principal amount of Lease Payments to be prepaid, and accrued interest to the date fixed for prepay- ment, plus the prepayment premium set forth in the following table: Prepayment Period Prepayment Premium January 15, 2030 through January 14, 2031 2% January 15, 2031 and thereafter 0 Said option shall be exercised by the Town by giving written notice to the Authority and the Trustee of the exercise of such option at least forty-five (45) days prior to said Lease Payment Date. Such option shall be exercised in the event of prepayment in full, by deposit- ing with said notice cash in an amount, which, together with amounts then on deposit in the Revenue Fund and the Insurance and Condemnation Fund, will be sufficient to pay the ag- gregate unpaid component of the Lease Payments on said Lease Payment Date as set forth in Exhibit D hereto, together with any Lease Payments then due but unpaid, or, in the event of prepayment in part, by depositing with said notice cash in an amount divisible by $5,000 equal to the amount desired to be prepaid together with any Lease Payments then due but unpaid. In the event of prepayment in part, the partial prepayment shall be applied against Lease Payments in such order of payment date as shall be selected by the Town. Lease Pay- ments due after any such partial prepayment shall be in the amounts set forth in a revised Lease Payment schedule which shall be provided by, or caused to be provided by, the Town to the Trustee and which shall represent an adjustment to the schedule set forth in Exhibit D attached hereto taking into account said partial prepayment.

Prepayment Option. The Company may prepay in cash all or any portion of the outstanding principal amount of this Note, without penalty, on the 30th day following written notice to the Holder (the “Redemption Date”). The Holder shall have the right to convert any outstanding principal or interest in accordance with Article II hereof up until the Redemption Date. If the Company elects to redeem the Notes and the Notes are not converted prior to the Redemption Date, the Company will be required to pay all remaining interest payable on the Notes had the Notes remained outstanding until the Maturity Date.

Prepayment Option. For Loans in which Borrower has a Prepayment Option, Borrower may, by Email notification to Lender’s Email during Business Hours (the time of such notice, the “Prepayment Request Time”), indicate its intent to return a portion of or the entirety of the Loan Balance (the “Redelivery Amount”). Borrower shall return or repay the Redelivery Amount by the Close of Business on the Business Day immediately following the Prepayment Request Time (the day of such delivery, the “Redelivery Day”). If (x) the Prepayment Request Time is after 11:00 a.m. ET on a Business Day, the Prepayment Request Time shall be deemed to occur at 9:00 a.m. ET on the immediately following Business Day and (y) the Prepayment Request Time is prior to 11:00 a.m. ET on a Business Day, the Prepayment Request Time shall be deemed to occur at 11:00 a.m. ET on such Business Day. In the event of a prepayment of only a portion of the Loan Balance, Borrower shall repay said portion of the Loan Balance on the Redelivery Day and the remaining portion of the Loan Balance on the earlier of the Maturity Date or any subsequent Recall Delivery Day or Redelivery Day, as applicable.

Prepayment Option. Exercise or agree to the exercise of the Optional Prepayment, if the Seller is the holder of any or all of the Class R Notes.

Prepayment Option. During the Term-Out Period and subject to the terms ------------------ hereof, Lessee, at its option, shall have the right to prepay the then remaining Term-Out Payments and thus accelerate the Closing Date to the date that such prepayment is made (the "Prepayment Option"). Lessor and Lessee acknowledge that a 10% interest factor was used to calculate the specific Term-Out Payment amounts set forth in Section 2 hereof, and further agree that should Lessee elect to exercise this Prepayment Option, Lessee and Lessor shall recalculate the final amount due by adding together the remaining Term-Out Payment amounts and deducting therefrom the appropriate interest amount based upon the actual Closing Date. In order to exercise this Prepayment Option, Lessee must: a. provide Lessor with no less than thirty (30) Business Days' notice of its intention to prepay any remaining Term-Out Payments; and b. not be in default under any of the terms of the Lease or this Side Letter, including but not limited to Lessee having paid to Lessor all of the Additional Rent payments due to Lessor during the Term-Out Period. Lessee and Lessor further acknowledge and agree that this Prepayment Option shall become null and void in the event Lessor shall terminate this Side Letter in accordance with Section 9 hereof.

Prepayment Option. The Maker herein shall have the privilege, at any time, and from time to time, of prepaying the outstanding Note herein, either in whole or in part, by prepayment of the principal amount of the Note, or portion thereof to be prepaid, and accrued interest thereon to the date of such prepayment, without charge or penalty.

Prepayment Option. So long as no Event of Default shall exist and be continuing, Borrower may elect to terminate any outstanding Loan in whole or in part by paying to Lender in immediately available funds the Balance Due Value set forth in the applicable Loan Schedule for the payment period immediately preceding the date of prepayment, and any outstanding fees, taxes, costs or other reimbursements owing to Lender (the “Prepayment Option”). In the event Borrower elects to exercise its Prepayment Option, Borrower shall give Lender at least five (5) days prior written notice of the proposed prepayment date and such prepayment shall be made as of the regularly scheduled Basic Loan Payment date. Upon receipt by Lender of all amounts due under the Loan (other than any unasserted claims for indemnification or expense reimbursement), Lender shall, at Borrower’s cost and expense, execute such further documents and take such further actions as may be necessary to affect the release of its security interest in the Collateral under the terminated Loan Schedule, including duly executing and delivering UCC termination statements for filing in any relevant jurisdictions. Nothing in this paragraph is intended to extinguish Lender’s Warrant or Lender’s right to indemnifications which by their nature survive the termination of the Loan.