Common use of Optional Prepayment of Notes Clause in Contracts

Optional Prepayment of Notes. Subject to the terms of this Section 3.2, the Company may prepay the outstanding principal amount of the Notes in whole or in part at any time at a price equal to (1) the accrued interest, if any, to the date set for prepayment, plus (2) a prepayment fee representing the amortization of certain of Purchaser's costs incurred in connection with the purchase of the Notes equal to the principal amount prepaid multiplied by the following percentage: If Prepaid During the 12 Month Period Ending on October 31 of the Following Years: Percentage --------------------------- ---------- 2000 5% 2001 4% 2002 3% 2003 2% 2004 1% Any prepayment must be in integer multiples of $250,000 (or such lesser principal amount then outstanding under all of the Notes). All such prepayments shall be applied ratably to the applicable Notes, first to the remaining principal payments due on the Tranche A Notes in inverse order of maturity and then to the remaining principal payments due on the Tranche B Notes in inverse order of maturity, after application of prepayment to any prepayment premium payable in connection therewith.

Optional Prepayment of Notes. Subject to the terms of this Section 3.23.3, the Company Loan Parties may prepay the outstanding principal amount of the Notes in whole or in part in multiples of $100,000 at any time at a price equal to (1) the accrued interest, if any, to the date set for prepayment, plus (2) a prepayment fee representing the amortization of certain of Purchaser's costs incurred in connection with the purchase of the Notes equal to the principal amount prepaid multiplied by the following percentage: If Prepaid During the 12 12-Month Period Ending on October 31 September 30 of the Following Years: Percentage --------------------------- ---------- 2000 5% 2001 4% 2002 3% 2003 2% 2004 1% provided, however, that no prepayment fee shall be applied to any prepayment of the outstanding principal amount of the Notes in connection with any prepayment attributable to Life Insurance proceeds. Any prepayment must be at least equal in integer multiples of the aggregate to $250,000 100,000 (or such lesser principal amount then outstanding under all of the Notes). All such prepayments shall be applied ratably to the applicable Notes, first to outstanding principal in the remaining principal payments due on the Tranche A Notes in inverse order of maturity and then to the remaining principal payments due on the Tranche B Notes in inverse order of maturity, after application of such prepayment to any accrued interest and prepayment premium payable in connection therewith.