Common use of REQUIRED PRINCIPAL PREPAYMENTS Clause in Contracts

REQUIRED PRINCIPAL PREPAYMENTS. The Company agrees that it will prepay and apply, and there shall become due and payable $2,500,000 principal amount on October 1 in each year beginning October 1, 2000 up to and including October 1, 2010 (each such payment and the payment on October 1, 2011 being hereinafter referred to collectively as the "PRINCIPAL PAYMENT DATES") in respect of the aggregate principal indebtedness evidenced by the Notes. The remaining unpaid principal amount of the Notes and accrued and unpaid interest thereon shall be due and payable on October 1, 2011. No premium shall be payable in connection with any required prepayment made pursuant to this Section 2.1. In the event of any repurchase of less than all of the outstanding Notes pursuant to Section 6.13, each scheduled prepayment pursuant to the provisions of this Section 2.1 coming due concurrently therewith or thereafter shall be reduced to the amount determined by dividing the aggregate principal amount of Notes outstanding immediately after any such repurchase pursuant to said Section 6.13 by the sum of the number of the remaining Principal Payment Dates, including, if on a Principal Payment Date, the date of such purchase.