Common use of Designation of Payment Date for Prepayment Clause in Contracts

Designation of Payment Date for Prepayment. If Borrower gives at least 30 days’ prior Notice to Lender, then Borrower may make a full Prepayment on a Payment Date. If the Payment Date is not a Business Day, then the “Payment Date” for this full Prepayment will mean the Business Day immediately before the Payment Date and the calculation of any required Prepayment Charge will be made as if the Prepayment had actually been made on the scheduled Payment Date. Borrower must pay to Lender (i) all principal, (ii) the Prepayment Charge, (iii) all accrued and unpaid interest and (iv) all other sums due to Lender at the time of such Prepayment.

Designation of Payment Date for Prepayment. If Borrower gives at least 30 days’ prior Notice to Lender, then Borrower may make a full Prepayment on a Payment Date. If the Payment Date is not a Business Day, then the “Payment Date” for this full Prepayment will mean the Business Day immediately before the Payment Date and the calculation of any required Prepayment Charge will be made as if the Prepayment had actually been made on the scheduled Payment Date. Borrower must pay to Lender (i) all principal, (ii) the Prepayment Chargecharge, (iii) all accrued and unpaid interest and (iv) all other sums due to Lender at the time of such Prepayment.

Designation of Payment Date for Prepayment. If Borrower gives at least 30 days’ prior Notice to Lender, then Borrower may make a full Prepayment on a Payment Date. If the Payment Date is not a Business Day, then the “Payment Date” for this full Prepayment will mean the Business Day immediately before the Payment Date and the calculation of any required Prepayment Charge will be made as if the Prepayment prepayment had actually been made on the scheduled Payment Date. Borrower must pay to Lender (i) all principal, (ii) the Prepayment Chargecharge, (iii) all accrued and unpaid interest and (iv) all other sums due to Lender at the time of such Prepayment.