Common use of Prepayments of Principal Clause in Contracts

Prepayments of Principal. Borrower, at its option, subject to the limitations contained in the Loan Documents and the payment of any applicable Prepayment Premium as set forth in the Loan Documents and the payment of accrued interest to the date of prepayment, may prepay, all or part of the principal this Note. All such prepayments shall be applied in the inverse order of maturity without suspension of regularly scheduled payments due under this Note. This Note is secured by a mortgage and associated security agreements dated April 19, 1993, as modified, ("Mortgage") and the terms and conditions of the Mortgage are incorporated herein by reference and Lender is entitled to the benefits thereof. The holder of this Note may enforce the agreements of Borrower contained in the Loan Documents and Mortgage and may exercise the remedies provided for therein or otherwise available at law or in equity. Upon the occurrence of an event of default as described in the Loan Documents or the Mortgage, any principal amounts advanced under the Note, interest accrued thereon, and other charges due hereunder or under the Loan Documents, may be declared to be immediately due and payable as provided in the Loan Documents. This Note may be enforced in any court or other tribunal having jurisdiction over the subject matter hereof, and Borrower shall pay to the holder hereof on demand such amounts in United States dollars as shall be sufficient to pay the enforcement costs and expenses of such holder, including, without limitation, reasonable attorney's fees and expenses, including those attorney's fees and expenses incurred on appeal or in the event the holder takes actions to protects its interest hereunder in proceedings in bankruptcy. As used herein, attorney's fees shall include a separate award for paralegal or legal assistant's fees. Such costs, expenses and attorney's fees shall become part of the indebtedness secured by the Mortgage and shall draw interest from the date incurred until paid at the applicable Default Rate of interest provided in the Loan Documents. No reference herein to the Loan Documents and no provision of this Note or the Loan Documents shall alter or impair the obligation of Borrower, which is absolute and unconditional, to pay the principal of and interest (and any default interest rate or other charges due) on this Note as provided herein. Borrower shall be in default under this Note upon the happening of any of the following events, circumstances or conditions; namely:

Prepayments of Principal. Borrower(a) The Borrower may carry out prepayments of the principal amount of the Loan, at its option, subject prior irrevocable written notice delivered to the limitations contained in the Loan Documents and the payment of any applicable Prepayment Premium as set forth in the Loan Documents and the payment of accrued interest Lender within 5 (five) Business Days prior to the date of prepaymentin which the prepayment will be done, may prepay, all or part the amount paid shall be decreased from the outstanding amount of the principal this Note. All such prepayments shall Loan, applying the amortization which will be applied in the inverse order of maturity without suspension of regularly scheduled payments due under this Note. This Note is secured by a mortgage before, and associated security agreements dated April 19, 1993, as modified, ("Mortgage") and the terms and conditions of the Mortgage are incorporated herein by reference and Lender is entitled to the benefits thereofsuccessively. The holder Borrower may not use (dispose) the amounts prepaid. (b) In the event that a prepayment is done on an Interest Payment Date, the Borrower shall not be obliged to pay any kind of this Note may enforce commission or penalty. In the agreements of Borrower contained in event that a prepayment is done on a date different from an Interest Payment Date, the Loan Documents and Mortgage and may exercise the remedies provided for therein or otherwise available at law or in equity. Upon the occurrence of an event of default as described in the Loan Documents or the Mortgage, any principal amounts advanced under the Note, interest accrued thereon, and other charges due hereunder or under the Loan Documents, may be declared to be immediately due and payable as provided in the Loan Documents. This Note may be enforced in any court or other tribunal having jurisdiction over the subject matter hereof, and Borrower shall pay the Lender, the charges derived from such situation within the 15 (fifteen) days following in which the Lender delivers a reimbursement requirement for such effects, in the understanding that along with such requirement, the Lender shall deliver the Borrower a document in which the calculations made in order to obtain the amount of the charges are described. (c) In the event that a prepayment is made on a date different from the Interest Payment Date, the Lender shall pay the Borrower the profit obtained from such situation within the 15 (fifteen) days following the date in which the Borrower delivers a reimbursement requirement, provided that the Borrower shall deliver the Lender, along with such requirement, a document in which the calculations made in order to obtain the amount of the benefits are described, or the Lender determines in good faith the amount of the corresponding benefit jointly delivering to the holder hereof on demand such amounts Borrower, a document in United States dollars as shall be sufficient which the calculations made in order to pay obtain the enforcement costs and expenses amount of such holder, including, without limitation, reasonable attorney's fees and expenses, including those attorney's fees and expenses incurred on appeal or in the benefits are described. (d) In the event that the holder takes actions to protects its interest hereunder in proceedings in bankruptcy. As used herein, attorney's fees shall include a separate award for paralegal or legal assistant's fees. Such costs, expenses and attorney's fees shall become part of the indebtedness secured by the Mortgage and shall draw interest from the date incurred until paid at the applicable Default Rate of interest provided in the Loan Documents. No reference herein to the Loan Documents and no provision of this Note or the Loan Documents shall alter or impair the obligation of Borrower, which is absolute and unconditional, to pay the principal of and interest (and any default interest rate or other charges due) on this Note as provided herein. Borrower shall be in default under this Note upon the happening of does not carry out any of the following eventsprepayments which he had notified the Lender on the date programmed, circumstances the Borrower shall pay the Lender upon the Lender's request, any cost or conditions; namely:expense in which the Lender reasonably incurred with respect to the prepayment of such amount, prior proof of the payments made by the Lender.