Common use of Effect of Prepayment Clause in Contracts

Effect of Prepayment. In the event that the District prepays all remaining Installment Payments in full pursuant to Article IX, the District’s obligations under this Installment Sale Agreement shall thereupon cease and terminate, including but not limited to the District’s obligation to pay Installment Payments therefor under this Section 4.4; provided, however, that the District’s obligations to compensate and indemnify the Trustee pursuant to Sections 4.10 and 6.3 shall survive such prepayment. In the event that the District prepays the Installment Payments in part but not in whole pursuant to Section 9.2 or Section 9.3, the principal component of each succeeding Installment Payment shall be reduced as provided in such Sections, and the interest component of each remaining Installment Payment shall be reduced by the aggregate corresponding amount of interest which would otherwise be payable on the Bonds thereby redeemed pursuant to the applicable provisions of Section 4.01 of the Indenture.

Effect of Prepayment. In the event that the District City prepays all remaining Installment Payments in full pursuant to Article IX, the DistrictCity’s obligations under this Installment Sale Agreement shall thereupon cease and terminate, including but not limited to the DistrictCity’s obligation to pay Installment Payments therefor under this Section 4.4; provided, however, that the DistrictCity’s obligations to compensate and indemnify the Trustee pursuant to Sections 4.10 4.9 and 6.3 shall survive such prepayment. In the event that the District City prepays the Installment Payments in part but not in whole pursuant to Section 9.2 or Section 9.39.2, the principal component of each succeeding Installment Payment shall be reduced as provided in such Sections, and the interest component of each remaining Installment Payment shall be reduced by the aggregate corresponding amount of interest which would otherwise be payable on the Bonds thereby redeemed pursuant to the applicable provisions of Section 4.01 of the Indenture.

Effect of Prepayment. In the event that the District City prepays all remaining Installment Payments in full pursuant to Article IX, the DistrictCity’s obligations under this Installment Sale Agreement shall thereupon cease and terminate, including but not limited to the DistrictCity’s obligation to pay Installment Payments therefor under this Section 4.4; provided, however, that the DistrictCity’s obligations to compensate and indemnify the Trustee pursuant to Sections 4.10 and 6.3 shall survive such prepayment. In the event that the District City prepays the Installment Payments in part but not in whole pursuant to Section 9.2 or Section 9.3, the principal component of each succeeding Installment Payment shall be reduced as provided in such Sections, and the interest component of each remaining Installment Payment shall be reduced by the aggregate corresponding amount of interest which would otherwise be payable on the Bonds thereby redeemed pursuant to the applicable provisions of Section 4.01 of the Indenture.