Method of Prepayment. The Borrower may at any time prepay all or any -------------------- part of the principal balance of the Loan outstanding; provided, however, that each partial prepayment shall be applied to the reduction of the Loan in the manner as determined by the Bank, in its sole and absolute discretion, and, further provided, that on the date of the partial prepayment, there shall exist no Event of Default. Each prepayment other than full payment shall be made prior to 2:00 P.M. Orlando, Florida time, on the date of the prepayment, and shall be made on a Banking Day in lawful money of the United States of America and in immediately available funds.
Appears in 1 contract
Method of Prepayment. The Borrower may at any time prepay all or -------------------- any -------------------- part of the principal balance of the Loan outstanding; provided, however, that each partial prepayment shall be applied to the reduction of the Loan in the manner as determined by the Bank, in its sole and absolute discretion, and, further provided, that on the date of the partial prepayment, there shall exist no Event of Default. Each prepayment other than full payment shall be made prior to 2:00 P.M. Orlando, Florida time, on the date of the prepayment, and shall be made on a Banking Day in lawful money of the United States of America and in immediately available funds.
Appears in 1 contract