Common use of Voluntary Prepayment; Mandatory Prepayment Clause in Contracts

Voluntary Prepayment; Mandatory Prepayment. (a) At any time, Borrower may voluntarily prepay the Loans in whole but not in part, together with accrued and unpaid Fixed Interest on the amount prepaid, together with any additional amounts due in respect thereof to the extent required by clause (c) below and all other Obligations then outstanding together with other amounts in respect thereof. (b) If any Prepayment Trigger occurs, then the Lender shall have the right, but not the obligation, to require Borrower to prepay the Loans, together with accrued and unpaid Fixed Interest together with other amounts in respect thereof, pursuant to clause (c) below. (c) Each prepayment of the Loans due to the occurrence of a Prepayment Trigger, and each voluntary prepayment of the Loans in whole pursuant to Section 3.02(a), shall be subject to the following (in addition to the other provisions contained in this Agreement): Such prepayment shall be in the amount indicated in the second column of the table below (determined as of the date of the Prepayment Trigger or voluntary prepayment): On or prior to December 31, 2014 130% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans After December 31, 2014 and on or prior to December 31, 2015 140% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans After December 31, 2015 and on or prior to December 31, 2016 150% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans After December 31, 2016 and on or prior to December 31, 2017 112% of the Outstanding Principal Amount After December 31, 2017 and on or prior to December 31, 2018 108% of the Outstanding Principal Amount After December 31, 2018 and on or prior to December 31, 2019 104% of the Outstanding Principal Amount After December 31, 2019 and on or prior to December 31, 2020 100% of the Outstanding Principal Amount (d) In addition to the amounts in clause (c) above, in connection with the prepayment in full of a Loan, any unpaid amounts in respect of such prepaid Loan not consisting of principal or Fixed Interest (i.e., any unpaid amounts for indemnification, tax gross-up, default interest, expense reimbursement and other obligations not consisting of principal or interest) shall be immediately due and payable.