Common use of Prepayment Option Clause in Contracts

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 Town may not prepay the principal component of the Lease Payments prior to January 15, 2030. The Authority Agency hereby grants an option to the Town City 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, without premium. Said option may be exercised with respect to Lease Payments due on and after January April 15, 2030, in a prepayment amount equal to the principal amount of Lease Payments to be prepaid, and accrued interest to the whole or in part on any date fixed for prepay- ment, plus the prepayment premium set forth in the following table: Prepayment Period Prepayment Premium January commencing April 15, 2030 through January 14, 2031 2% January 15, 2031 and thereafter 0 Said option shall be exercised ex- ercised by the Town City by giving written notice to the Authority Agency and the Trustee of the exercise of such option at least forty-five (45) days prior to said Lease Payment Date, or such lesser num- ber of days acceptable to the Agency and the Trustee in the sole discretion of the Agency and the Trustee. Such option shall be exercised in the event of prepayment in full, by deposit- ing depositing with said notice cash in an amount, which, together with amounts then on deposit in the Revenue In- surance and Condemnation Fund and the Insurance and Condemnation Revenue Fund, will be sufficient to pay the ag- gregate aggre- gate unpaid component of the Lease Payments on said Lease Payment Date as set forth in Exhibit D C hereto, together to- gether 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 (the principal component of which shall be an amount divisible by $5,000) together with any Lease Payments then due but unpaid. In the event of prepayment in part, the partial prepayment shall be applied ap- plied against Lease Payments in such manner as the City shall determine and if the City shall fail to make such determination, in inverse order of their payment date as shall be selected by the Towndates. Lease Pay- ments Payments 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 City to the Trustee and which shall represent an adjustment to the schedule set forth in Exhibit D C attached hereto taking tak- ing into account said partial prepayment.

Prepayment Option. The Town may not Lessee is hereby granted the option to prepay the aggregate principal component of the Lease Rental Payments (in whole but not in part), prior to January 15the Sample Preview scheduled payment of the Rental Payments in full pursuant to this Agreement, 2030on each Rental Payment date for which a Prepayment Option Amount is identified under the column titled “PREPAYMENT OPTION AMOUNT” on the Rental Payment Schedule. The Authority hereby grants an option to prepay shall commence November , 20xx. Such prepayment amount shall equal the Town Prepayment Option Amount (assuming that all Rental Payments and Additional Payments due on and prior to prepay the prepayment date have been paid) shown for the Rental Payment date on which such prepayment is to be effective under the column titled “PREPAYMENT OPTION AMOUNT” on the Rental Payment Schedule. To exercise the option granted under this Xxxxxxxxx 0, Xxxxxx shall give Lessor a written notice exercising such option and designating the Rental Payment date on which such prepayment is to be effective and the applicable Prepayment Option Amount, which notice shall be delivered to Lessor at least thirty (30) days in advance of the proposed prepayment date. The prepayment option herein granted may be exercised by Lessee whether or not one or more Events of Default have occurred and are then continuing at the time of such exercise; provided, however, that the prepayment of such principal component of the Lease Rental 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 upon the exercise of such option at least fortyduring the continuance of an Event of Default shall not limit, reduce or otherwise affect liabilities or obligations that Lessee has incurred as a result of such Event of Default or otherwise terminate the term of this Agreement notwithstanding anything in this Agreement to the contrary. Immediately upon any such prepayment being made, Lessor shall execute all documents necessary to confirm in Lessee title in and to the Equipment free and clear of any lien, encumbrance or other interest created by Lessor, but without warranties and in “where-five (45) days prior to said Lease Payment Date. Such option shall be exercised is, as-is'' condition, and release Lessor's security interest in the event Equipment and shall deliver such documents to Lessee. Lessor shall further cooperate in providing for the filing of prepayment in fullany necessary releases, by deposit- ing with said notice cash in an amount, which, together with amounts then on deposit in the Revenue Fund termination statements or other similar documents and the Insurance and Condemnation Fund, will be sufficient release of certificates of title or certificates of origin 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 prepaymentLessee.

Prepayment Option. The Town may So long as no Default shall have occurred and be continuing and Lessee shall have given Lessor at least 90 but not prepay more than 180 days prior written notice, Lessee shall have 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 Lease on any Rent Payment Date occurring after the Lease Payments in fulldate which is 12 months after the Rent Commencement Date (each, by paying a Prepayment Date) for an amount (the aggregate Prepayment Amount) equal to (1) any unpaid principal components of the Lease Payments as set forth in Exhibit D here- toRent and all other amounts due on or before such Prepayment Date, or in part, on and after January 15, 2030, in a prepayment plus (2) an amount equal to the principal Rent payable for the remainder of the Initial Term (calculated using the Rent amount due as of Lease Payments the first Rent Payment Date), after discounting such future Rent to be prepaid, and accrued interest present worth as of such Prepayment Date on the basis of a per annum rate of discount equal to the date fixed for prepay- mentrate at which such Rent was originally calculated, determined in Lessors sole discretion, from the respective dates upon which such Rent would have been paid had this Lease not been prepaid (the Present Value Future Rents), plus the (3) any applicable sales taxes, plus (4) $1.00, plus (5) a prepayment premium set forth in expressed as a percentage of the following tablePresent Value Future Rents applied as follows: Prepayment Period Months Prepayment Premium January 15, 2030 through January 14, 2031 21-12 No prepayment permitted 13-End of 0% January 15, 2031 and thereafter 0 Said option shall be exercised by the Town by giving written notice to the Authority and the Trustee Term Payment 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, whichPrepayment Amount, together with all other amounts then due and owing by Lessee under the Lease (including, without limitation, Rent) on deposit or before the Prepayment Date, shall be made on the Prepayment Date in immediately available funds. Thereafter, upon Lessees written request, Lessor shall deliver to Lessee a bill of sale transferring to Lessee all right, title and interest xx Xessor in and to the Revenue Fund and the Insurance and Condemnation FundEquipment ON AN AS IS, will be sufficient WHERE IS BASIS, WITHOUT ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO ANY MATTER WHATSOEVER. If Lessee shall fail to pay the ag- gregate unpaid component of all amounts required to be paid under 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 partPrepayment Date, the partial prepayment Lease shall be applied against Lease Payments continue in such order of payment date as shall be selected by the Town. Lease Pay- ments due after any such partial prepayment shall be full force and effect and Lessee agrees to reimburse Lessor for all reasonable attorneys fees, costs, expenses and liabilities incurred 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 prepaymentconnection therewith.

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 City 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, without premium. Said option may be exercised with respect to Lease Payments due on and after January April 15, 2030, in a prepayment amount equal to the principal amount of Lease Payments to be prepaid, and accrued interest to the whole or in part on any date fixed for prepay- ment, plus the prepayment premium set forth in the following table: Prepayment Period Prepayment Premium January commencing April 15, 2030 through January 14, 2031 2% January 15, 2031 and thereafter 0 . Said option shall be exercised by the Town City by giving written notice to the Authority and the Trustee of the exercise of such option at least forty-five thirty (4530) days prior to said Lease Payment Date. Such option shall be exercised in the event of prepayment in full, by deposit- ing depositing with said notice cash in an amount, which, together with amounts then on deposit in the Revenue Insurance and Condemnation Fund and the Insurance and Condemnation Revenue Fund, will be sufficient to pay the ag- gregate aggregate unpaid component of the Lease Payments on said Lease Payment Date as set forth in Exhibit D C 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 (the principal component of which shall be an amount divisible by $5,000) 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 manner and shall be selected by applied to redeem Bonds as the TownCity shall determine and if the City shall fail to make such determination, pro rata. Lease Pay- ments Payments 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 City to the Trustee and which shall represent an adjustment to the schedule set forth in Exhibit D C attached hereto taking into account said partial prepayment.