Prepayments of Loan. At its option and upon giving prior written notice to the Department, the Borrower may prepay the Loan, in whole or in part, without penalty, at any time. Such prior written notice shall specify the date on which the Borrower will make such prepayment and whether the Loan will be prepaid in full or in part, and if in part, the principal amount to be prepaid. Any such prepayment shall be applied against Loan principal installments then outstanding as shall be directed by the Borrower.
Appears in 8 contracts
Samples: Financing Agreement (Artesian Resources Corp), Financing Agreement (Artesian Resources Corp), Financing Agreement (Artesian Resources Corp)
Prepayments of Loan. At its option and upon giving providing prior written notice to the Department, the Borrower may prepay the Loan, in whole or in part, without penalty, at any time. Such prior written notice shall specify the date on which the Borrower will make such prepayment and whether the Loan will be prepaid in full or in part, and if in part, the principal amount to be prepaid. Any such prepayment shall be applied against Loan principal installments then outstanding as shall be directed by the Borrower.
Appears in 3 contracts
Samples: Financing Agreement (Middlesex Water Co), Financing Agreement (Middlesex Water Co), Financing Agreement (Middlesex Water Co)
