Common use of Effect of Prepayment Clause in Contracts

Effect of Prepayment. If the City prepays all Lease Payments in full under Section 9.2, the City’s obligations under this Section will thereupon cease and terminate. If the City prepays the Lease Payments in part but not in whole under Section 9.2, the principal components of the remaining Lease Payments will be reduced in integral multiples of $5,000 among Lease Payment Dates on a basis which corresponds to the principal maturities of the Bonds which are redeemed thereby; and the interest component of each remaining Lease Payment will be reduced by the aggregate corresponding amount of interest which would otherwise be payable with respect to the Bonds thereby redeemed under Section 4.01 of the Indenture.

Effect of Prepayment. If the City prepays all Lease Payments in full under Section 9.2pursuant to Sections 9.1, 9.2 or 9.3, the City’s 's obligations under this Section will Lease shall thereupon cease and terminate, including but not limited to the City's obligation to pay Lease Payments under this Section 4.4. If the City prepays the Lease Payments in part but not in whole under pursuant to Section 9.29.3, the principal components of the remaining Lease Payments will shall be reduced in integral multiples of $5,000 among Lease Payment Dates on a basis which corresponds to the principal maturities of the Bonds which are redeemed therebypro rata basis; and the interest component of each remaining Lease Payment will shall be reduced by the aggregate corresponding amount of interest which would otherwise be payable with respect to the Bonds Lease Payments thereby redeemed under Section 4.01 of the Indentureprepaid.