Common use of General Prepayment Instructions Clause in Contracts

General Prepayment Instructions. Upon the WIFIA Credit Provider’s receipt of confirmation that payment in full in immediately available funds of the entire Outstanding WIFIA Credit Balance and any unpaid interest, fees and expenses with respect thereto has occurred as a result of a prepayment, the WIFIA Credit Provider shall surrender the WIFIA Bond to the Borrower or its representative at the principal office of the Bond Registrar. If the Borrower prepays only part of the unpaid balance of principal of the WIFIA Credit Facility, the WIFIA Credit Provider may make a notation on Exhibit F (WIFIA Debt Service) indicating the amount of principal of and interest on the WIFIA Credit Facility then being prepaid and the WIFIA Credit Provider shall revise the Credit Amortization Schedule to reflect substantially level debt service using the same methodology used in Section 8(c) (Payment of Principal and Interest – Fixed Level Payments). Absent manifest error, the WIFIA Credit Provider’s determination of such matters as set forth on Exhibit F (WIFIA Debt Service) shall be conclusive evidence thereof; provided that neither the failure to make any such recordation nor any error in such recordation shall affect in any manner the Borrower’s obligations hereunder or under any other WIFIA Credit Document. All partial prepayments of principal shall be applied to reduce future payments due on the WIFIA Credit Facility in inverse order of maturity. If such funds have not been so paid on the prepayment date, such principal amount of the WIFIA Credit Facility shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate).

General Prepayment Instructions. Upon the WIFIA Credit ProviderLender’s receipt of confirmation that payment in full in immediately available funds of the entire Outstanding WIFIA Credit Loan Balance and any unpaid interest, fees and expenses with respect thereto has occurred as a result of a mandatory or optional prepayment, the WIFIA Credit Provider Lender shall surrender the WIFIA Bond Note to the Borrower or its representative at the principal office of the Bond RegistrarWIFIA Lender. If the Borrower prepays only part of the unpaid balance of principal of the WIFIA Credit FacilityLoan, the WIFIA Credit Provider Lender may make a notation on Exhibit F (WIFIA Debt Service) indicating the amount of principal of and interest on the WIFIA Credit Facility Loan then being prepaid and the WIFIA Credit Provider shall revise the Credit Amortization Schedule to reflect substantially level debt service using the same methodology used in Section 8(c) (Payment of Principal and Interest – Fixed Level Payments)prepaid. Absent manifest error, the WIFIA Credit ProviderLender’s determination of such matters as set forth on Exhibit F (WIFIA Debt Service) shall be conclusive evidence thereof; provided that neither the failure to make any such recordation nor any error in such recordation shall affect in any manner any payment obligation or other obligation of the Borrower’s obligations Borrower hereunder or under any other WIFIA Credit DocumentLoan Document to which the Borrower is a party, or any payment obligation of the City under the WIFIA IPA or any other obligation of the City hereunder or under any WIFIA Loan Document to which the City is a party. All partial prepayments of principal shall be applied to reduce future payments due on the WIFIA Credit Facility in inverse order of maturityLoan ratably by an equal amount. If such funds have not been so paid on the prepayment date, such principal amount of the WIFIA Credit Facility Loan shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate).

General Prepayment Instructions. Upon the WIFIA Credit ProviderXXXXX Xxxxxx’s receipt of confirmation that payment in full in immediately available funds of the entire Outstanding WIFIA Credit Loan Balance with respect to any WIFIA Loan and any unpaid interest, fees and expenses with respect thereto has occurred as a result of a prepayment, the WIFIA Credit Provider Lender shall surrender the corresponding WIFIA Bond to the Borrower Trustee or its representative at the principal corporate office of the Bond RegistrarTrustee. If the Borrower prepays only part of the unpaid balance of principal of the any WIFIA Credit FacilityLoan, the WIFIA Credit Provider Lender may make a notation on Exhibit F B (WIFIA Debt Service) attached to the applicable WIFIA Loan Agreement, indicating the amount of principal of and interest on the such WIFIA Credit Facility Loan then being prepaid and the WIFIA Credit Provider shall revise the Credit Amortization Schedule to reflect substantially level debt service using the same methodology used in Section 8(c) (Payment of Principal and Interest – Fixed Level Payments)prepaid. Absent manifest error, the WIFIA Credit ProviderXXXXX Xxxxxx’s determination of such matters as set forth on such Exhibit F B (WIFIA Debt Service) shall be conclusive evidence thereof; provided that neither the failure to make any such recordation nor any error in such recordation shall affect in any manner the Borrower’s obligations hereunder or under any other WIFIA Credit Loan Document. All partial prepayments of principal shall be applied to reduce future payments due on the applicable WIFIA Credit Facility Loan in any order of maturity as directed by written notice given by the Borrower to the XXXXX Xxxxxx at or prior to such prepayment (and in the absence of any such written direction from the Borrower, in the inverse order of maturity). If such funds have not been so paid on the prepayment date, such principal amount of the such WIFIA Credit Facility Loan shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate)the applicable WIFIA Loan Agreement.