Common use of Optional Prepayments of Notes Clause in Contracts

Optional Prepayments of Notes. The Issuer may, from time to time, prepay the principal amount owing under the Notes, so long as: (A) Issuer shall have provided at least fifteen (15) Business Days prior written notice to the applicable Purchasers of such prepayment and with delivery to the Purchasers of an appropriately completed Payment Notification (which notice, once given, shall be irrevocable but may be conditioned on the consummation of other transactions), (B) such prepayment shall be accompanied by the payment of any Make-Whole Amount set forth in the applicable Note, (C) the Equity Conditions (as defined in the Note) are met during each Business Day of such fifteen (15) Business Day notice period, and (D) the Issuer have waived the restriction on transfer set forth in Section 3(f) under the Notes.

Appears in 2 contracts

Sources: Amendment to Atw Notes and Warrants (Faraday Future Intelligent Electric Inc.), Securities Purchase Agreement (Faraday Future Intelligent Electric Inc.)