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:
Appears in 4 contracts
Samples: Lease Termination Agreement (American Income Fund I-C LTD Partnership), Lease Termination Agreement (Airfund Ii International Limited Partnership), Lease Termination Agreement (Airfund International Limited Partnership)
