Prepayment Option Clause Samples
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Prepayment Option. During the Term-Out Period and subject to the terms ------------------ hereof, Lessee, at its option, shall have the right to prepay the then remaining Term-Out Payments and thus accelerate the Closing Date to the date that such prepayment is made (the "Prepayment Option"). Lessor and Lessee acknowledge that a 10% interest factor was used to calculate the specific Term-Out Payment amounts set forth in Section 2 hereof, and further agree that should Lessee elect to exercise this Prepayment Option, Lessee and Lessor shall recalculate the final amount due by adding together the remaining Term-Out Payment amounts and deducting therefrom the appropriate interest amount based upon the actual Closing Date. In order to exercise this Prepayment Option, Lessee must:
a. provide Lessor with no less than thirty (30) Business Days' notice of its intention to prepay any remaining Term-Out Payments; and
b. not be in default under any of the terms of the Lease or this Side Letter, including but not limited to Lessee having paid to Lessor all of the Additional Rent payments due to Lessor during the Term-Out Period. Lessee and Lessor further acknowledge and agree that this Prepayment Option shall become null and void in the event Lessor shall terminate this Side Letter in accordance with Section 9 hereof.
Prepayment Option. To satisfy in full the Village’s obligations under this Obligation, the Village shall have the right to prepay all or a portion of the outstanding principal balance of this Obligation at any time, at par and without penalty.
Prepayment Option. Notwithstanding the provisions of Section 11.d of the General Terms and Conditions attached hereto as Exhibit A, and if no event of default exists, the LEA may at its option elect to prepay the Installment Payments due pursuant to an Appendix in full on the dates indicated on “Part 2--Payment Schedule” attached to each Appendix. The LEA agrees to provide written notice to CONTRACTOR of its intention to prepay not less than thirty (30) days prior to the applicable Installment Payment Date. If the LEA exercises its option to prepay its obligations to pay the Installment Payments pursuant to an Appendix in full, the Prepayment Price shall be the amount shown as such on the Payment Schedule attached to the Appendix.
Prepayment Option. Lessee shall have the option to prepay or satisfy all its obligations hereunder, at the following times and upon the following terms:
(a) From and after the date specified (if any) in the Payment Schedule (the “Prepayment Option Commencement Date”), on the Rental Payment dates specified in the Payment Schedule, upon not less than 30 days’ prior written notice, and upon payment in full of the sum of all Rental Payments then due plus all other amounts then owing hereunder plus the then applicable Termination Value, which may include a prepayment premium on the unpaid balance as set forth in the Payment Schedule; or
(b) In the event of substantial damage to or destruction or condemnation of substantially all of the Renewable Energy Equipment, on the day specified in Lessee’s notice to Lessor of its exercise of the prepayment option (which shall be the earlier of the next Rental Payment date or 60 days after the casualty event) upon payment in full to Lessor of the sum of (i) all Rental Payments then due plus (ii) the then applicable Termination Value (or, in the event such prepayment occurs on a date other than a Rental Payment date, the sum of (x) the Termination Value relating to the Rental Payment immediately prior to the date of such prepayment plus (y) accrued interest on the aggregate unpaid principal portion of Rental Payments immediately prior to the date of such prepayment) plus (iii) all other amounts then owing hereunder; or
(c) Upon the expiration of the Lease Term, upon payment in full of all Rental Payments then due and all other amounts then owing hereunder to Lessor. After payment of the applicable Termination Value and all other amounts owing hereunder, Lessor’s security interests in and to such Renewable Energy Equipment will be terminated and Lessee will own the Renewable Energy Equipment free and clear of Lessor’s security interest in the Renewable Energy Equipment.
Prepayment Option. The Company may prepay in cash all or any portion of the outstanding principal amount of this Note, without penalty, on the 30th day following written notice to the Holder (the “Redemption Date”). The Holder shall have the right to convert any outstanding principal or interest in accordance with Article II hereof up until the Redemption Date. If the Company elects to redeem the Notes and the Notes are not converted prior to the Redemption Date, the Company will be required to pay all remaining interest payable on the Notes had the Notes remained outstanding until the Maturity Date.
Prepayment Option. Exercise or agree to the exercise of the Optional Prepayment, if the Seller is the holder of any or all of the Class R Notes.
Prepayment Option. Subject to the approval of Holder for prepayments after one hundred eighty (180) days, Borrower may prepay in cash all or any portion of the Principal Amount of this Debenture and accrued interest thereon, with a premium, as set forth below (each a “Prepayment Premium”), upon ten (10) Business Days prior written notice to Holder. Holder shall have the right to convert all or any portion of the Principal Amount and accrued interest thereon in accordance with Article III hereof during such ten (10) Business Day notice period. The amount of each Prepayment Premium shall be as follows: (a) one hundred forty-five percent (145%) of the prepayment amount if such prepayment is made at any time from the Issuance Date until the Maturity Date.
Prepayment Option. The Maker herein shall have the privilege, at any time, and from time to time, of prepaying the outstanding Note herein, either in whole or in part, by prepayment of the principal amount of the Note, or portion thereof to be prepaid, and accrued interest thereon to the date of such prepayment, without charge or penalty.
Prepayment Option. So long as no Event of Default shall exist and be continuing, Borrower may elect to terminate any outstanding Loan Schedule in whole or in part by paying to Lender in immediately available funds the Balance Due Value set forth in the applicable Loan Schedule for the Payment Period immediately preceding the date of prepayment, and any outstanding fees, taxes, costs or other reimbursements owing to Lender (the “Prepayment Option”). In the event Borrower elects to exercise its Prepayment Option, Borrower shall give Lender at least five (5) days prior written notice of the proposed prepayment date and such prepayment shall be made as of the regularly scheduled Loan Payment date. Upon receipt by Lender of all amounts due under a particular Loan Schedule, Lender shall, at Borrower’s cost and expense, execute such further documents and take such further actions as may be necessary to affect the release of its security interest in the Collateral under the terminated Loan Schedule, including duly executing and delivering UCC termination statements for filing in any relevant jurisdictions. Nothing in this paragraph is intended to extinguish Lessor’s Warrant or Lessor’s right to indemnifications which by their nature survive the termination of a particular Loan Schedule.
Prepayment Option. Lessee shall have the option to prepay all, but not less than all, of the Principal Component of Rental Payments under this Agreement (except that Lessee shall have the option to prepay Rental Payments in part as set forth in subsections (b) and