Common use of Application of partial prepayment Clause in Contracts

Application of partial prepayment. Each partial prepayment made after the Termination Date shall be applied to reduce pro rata each Repayment Instalment and the Balloon Instalment.

Application of partial prepayment. Each The Prepayment Amount shall be applied in order of maturity against the then outstanding Repayment Instalments and each partial prepayment made after the Termination Date shall be applied to reduce pro pro- rata each Repayment Instalment and the Balloon Instalment.”;