Effect of Prepayment. Any notice given by the Borrower under Clause 4.1, Clause 4.2 or Clause 4.4 shall be irrevocable and shall oblige the Borrower to pay to the Agent on account of the Lenders the amount or amounts therein stated on the date therein stated. No amount prepaid under this Agreement may be redrawn. Subject to Clause 4.9, each prepayment under this Agreement shall be applied in satisfaction of the Borrower’s remaining obligations under Clause 3 in inverse chronological order. Prepayments under this Agreement shall be made together with accrued interest thereon and the payment of all other sums then owing under any of the Security Documents.
Effect of Prepayment. In the event that the City prepays the 2015-A Purchase Payments in whole, the amount paid shall be applied to the redemption in full of the principal and interest with respect to the 2015-A Bonds in accordance with the Indenture. In the event that the City prepays the 2015-A Purchase Payments in part, such prepayment shall be applied to the prepayment of the 2015-A Purchase Payments as follows: (i) the City shall designate which Principal Components are being prepaid, and to what extent, and the Principal Component of each remaining 2008 Purchase Payment shall be reduced accordingly, in each case in the amount equal to Authorized Denominations in excess thereof corresponding to the principal amount of 2015-A Bonds redeemed pursuant to Section 2.02 of the Indenture; and (ii) the Interest Component of each remaining 2008 Purchase Payment shall be reduced by the aggregate corresponding amount of interest which would otherwise be payable on the 2015-A Bonds thereby redeemed pursuant to the Indenture. Upon any prepayment of 2015-A Purchase Payments in part, the City shall provide the Corporation with an amended Exhibit B hereto.
Effect of Prepayment. Any notice given by the Borrower under Clause 4.1, Clause 4.2 or Clause 4.4 shall be irrevocable and shall oblige the Borrower to pay to the Agent on account of the Lenders the amount or amounts therein stated on the date therein stated. No amount prepaid under this Agreement may be redrawn. Subject to Clause 4.9 and Clause 4.10, each prepayment under this Agreement shall be applied in satisfaction of the Borrower’s remaining obligations under Clause 3 in inverse chronological order and Schedule 10 and Schedule 11 shall be recalculated and agreed in accordance with Clause 4.10. Prepayments under this Agreement shall be made together with accrued interest thereon and the payment of all other sums then owing under any of the Security Documents.
Effect of Prepayment. If the City prepays all Lease Payments in full under Section 9.2, the City’s obligations under this Section will thereupon cease and terminate. If the City prepays the Lease Payments in part but not in whole under Section 9.2, the principal components of the remaining Lease Payments will be reduced in integral multiples of $5,000 among Lease Payment Dates on a basis which corresponds to the principal maturities of the Bonds which are redeemed thereby; and the interest component of each remaining Lease Payment will be reduced by the aggregate corresponding amount of interest which would otherwise be payable with respect to the Bonds thereby redeemed under Section 4.01 of the Indenture.
Effect of Prepayment. No partial prepayment of this Note shall change any Due Date or the method of calculation of the Monthly Payment Amount, unless Lendex xxxxrwise agrees in writing.
Effect of Prepayment. If the City prepays all remaining Installment Payments in full under Section 7.2 or Section 7.3, or under the relevant provisions of any Supplemental Agreement, the City’s obligations under this Agreement shall thereupon cease and terminate, including but not limited to the City’s obligation to pay Installment Payments therefor under this Section 4.4; provided, however, that the City’s obligations to compensate and indemnify the Trustee under Sections 4.7 and 5.2 will survive such prepayment. If the City prepays the Installment Payments in part but not in whole under Section 7.2 or Section 7.3, or under the relevant provisions of any Supplemental Agreement, the principal component of each succeeding Installment Payment will be reduced as provided in such Sections or in such Supplemental Agreement, and the interest component of each remaining Installment Payment will be reduced by the aggregate corresponding amount of interest which would otherwise be payable with respect to the Bonds thereby redeemed under the applicable provisions of the Indenture.
Effect of Prepayment. If the Borrower, subject always to Clause 7, prepay part of the Loan (whether pursuant to Clause 7, Clause 13.5.2 or any other provision of this Agreement), and the amount of the Loan remaining outstanding after application of that prepayment is less than the Notional Amount (or the aggregate Notional Amounts) of the Transactions then in effect (reduced, if appropriate, in accordance with the Confirmations relating to those Transactions), the obligations of the Borrower in respect of those Transactions shall, unless otherwise agreed by the Bank, be calculated, so far as the Bank considers it practicable to do so, by reference to a Notional Amount (or aggregate Notional Amounts) equal to the amount of the Loan remaining outstanding after application of the prepayment in question, reduced on each Repayment Date by the Repayment Instalment due on that Repayment Date after taking into account the application of the prepayment.
Effect of Prepayment. If notice of prepayment has been duly given as aforesaid and moneys for the payment of the prepayment price of the Certificates to be prepaid are held by the Trustee, then on the prepayment date designated in such notice the Certificates so called for prepayment shall become payable at the prepayment price specified in such notice; and from and after the date so designated interest evidenced by the Certificates so called for prepayment shall cease to accrue, such Certificates shall cease to be entitled to any benefit or security hereunder and the Owners of such Certificates shall have no rights in respect thereof except to receive payment of the prepayment price thereof. The Trustee shall, upon surrender for payment of any of the Certificates to be prepaid, pay such Certificates at the prepayment price thereof. All Certificates prepaid pursuant to the provisions of this Article shall be canceled by the Trustee and shall not be redelivered.
Effect of Prepayment. Each prepayment of the Notes pursuant to this Section 4.3 shall be applied to reduce ratably each of the Mandatory Principal Amortization Payments remaining after the date of such prepayment.
Effect of Prepayment. The following provisions shall apply in respect of any prepayment made or to be made under this Agreement:-
