Common use of Designation of Day other than a Payment Date for Prepayment Clause in Contracts

Designation of Day other than a Payment Date for Prepayment. If Borrower gives at least 30 days’ prior Notice to Lender, then Borrower may make a full Prepayment on a Business Day that is not a Payment Date. However, Lender will only accept this Prepayment if Borrower pays to Lender all amounts due under Section 4(c), including all interest that would have been due if the Prepayment had actually been made on the Payment Date immediately after the designated Business Day.