Partial Prepayment. (a) On or after December 1, 2027, the City may prepay the Basic Rent Payments with respect to the Series 2020A Certificates in whole or in part, upon giving written notice to the Trustee at least 30 days before the prepayment date, at the prepayment price equal to 100% of the Principal Portion of Basic Rent being so prepaid plus the Interest Portion of Basic Rent accrued thereon to such Basic Rent Payment Date. (b) The Basic Rent Payments with respect to the Series 2020B Certificates are not subject to partial prepayment. (c) The Principal Portion of Basic Rent prepaid pursuant to this Section 5.02 will be in integral multiples of $5,000 and will be credited in such order of stated payment dates as is determined by the City. Upon any partial prepayment, the amount of each Interest Portion of Basic Rent coming due thereafter will be reduced by the amount of such Interest Portion attributable to such prepaid Principal Portion determined by applying the annual interest rate corresponding to such prepaid Principal Portion as shown on Exhibit A.
Appears in 2 contracts
Sources: Fourth Supplemental Lease Purchase Agreement, Fourth Supplemental Lease Purchase Agreement