Treatment of Partial Prepayments. Partial prepayments of the Deferred Payments shall reduce the remaining nominal balance of the Deferred Payments by adjusting all remaining annual installment payments on an equal and proportionate basis to reflect the partial prepayment. No partial prepayment will change the due date of any subsequent Deferred Payments unless agreed to in writing by the Parties.
Treatment of Partial Prepayments. Partial prepayments of the Deferred Payments shall reduce the remaining nominal balance (originally $875,626,072) of the Deferred Payments by an amount equal to the following: the sum of the equal semi-annual payments needed to produce a net present value of the prepayment equal to the amount of the prepayment using a discount rate of (0) 0.00000000000000% over a 20- year term if El Paso Corporation is not Investment Grade at the time of prepayment, and (0) 0.00000000000000% over a 15- year term if El Paso Corporation is Investment Grade at the time of prepayment. The amount of each semi-annual installment of the Deferred Payments shall thereafter be adjusted correspondingly (with all installments to be adjusted on an equal proportionate basis) to reflect the prepayment. No partial prepayment will affect the due date of any subsequent installment unless agreed to in writing by the Designated Representative.
Treatment of Partial Prepayments. Partial prepayments of the Deferred Payments shall reduce the remaining nominal balance (originally $875,626,072) of the Deferred Payments by an amount equal to the following: the sum of the equal semi-annual payments needed to produce a net present value of the prepayment equal to the amount of the prepayment using a discount rate of (1) 7.86196381773051% over a 20-year term if El Paxx Xxxxxxxxxxx xx xxt Investment Grade at the time of prepayment, and (2) 7.48071747914203% over a 15-year term if El Paxx Xxxxxxxxxxx xx Xxvestment Grade at the time of prepayment. The amount of each semi-annual installment of the Deferred Payments shall thereafter be adjusted correspondingly (with all installments to be adjusted on an equal proportionate basis) to reflect the prepayment. No partial prepayment will affect the due date of any subsequent installment unless agreed to in writing by the Designated Representative.
