Common use of Absolute Payment Obligation; Limitation on Prepayment Clause in Contracts

Absolute Payment Obligation; Limitation on Prepayment. Except as expressly provided herein, no provision of this Note shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Note at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct obligation of the Company. This Note ranks pari passu with all other Notes now or hereafter issued under the terms set forth herein. The Company may not prepay any portion of the outstanding principal amount on the Notes except in accordance with Section 3 hereof.