Common use of Optional Prepayments of Notes Clause in Contracts

Optional Prepayments of Notes. (a) The Company may, at its option, without notice, penalty, premium or fee, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than $75,000 in the case of a partial prepayment, at 100% of the principal amount so prepaid, plus accrued interest on such principal amount. (b) In the case of each partial prepayment of the Notes, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time of outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. (c) Any Note paid or prepaid in full shall be surrendered to the Company and canceled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.

Optional Prepayments of Notes. (a) The Company may, at its option, without notice, penalty, premium or fee, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than $75,000 in the case of a partial prepayment, at 100% of the principal amount so prepaid, plus accrued interest on such principal amount. (b) In the case of each partial prepayment of the Notes, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time of outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment. (c) Any Note paid or prepaid in full shall be surrendered to the Company and canceled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.