Common use of General Prepayment Instructions Clause in Contracts

General Prepayment Instructions. Upon the TIFIA Lender’s receipt of confirmation that payment in full of the entire Outstanding TIFIA Loan Balance and any unpaid interest and fees with respect thereto has occurred as a result of a mandatory or optional prepayment, the TIFIA Lender shall surrender the TIFIA Bond to the Borrower or its representative at the principal office of the TIFIA Lender. If the Borrower prepays only part of the unpaid balance of principal of such TIFIA Bond, the TIFIA Lender may make a notation on Exhibit G indicating the amount of principal of and interest on such TIFIA Bond then being prepaid. Absent manifest error, the TIFIA Lender’s determination of such matters as set forth on Exhibit G shall be conclusive evidence thereof; provided, however, 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 TIFIA Loan Document. All such partial prepayments of principal shall be applied to reduce future payments due on the TIFIA Bond in inverse order of maturity or, to the extent any such prepayment occurs prior to the Level Payment Commencement Date, to reduce each Fixed Level Payment ratably by an equal amount. If said monies shall not have been so paid on the prepayment date, such principal amount of such TIFIA Bond shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate).

General Prepayment Instructions. Upon the TIFIA Lender’s receipt of confirmation that payment in full of the entire Outstanding TIFIA Loan Balance and any unpaid interest and fees with respect thereto has occurred as a result of a mandatory or optional prepayment, the TIFIA Lender shall surrender the TIFIA Bond to the Borrower or its representative at the principal office of the TIFIA Lender. If the Borrower prepays only part of the unpaid balance of principal of such TIFIA Bond, the TIFIA Lender may make a notation on Exhibit G indicating the amount of principal of and interest on such TIFIA Bond then being prepaid. Absent manifest error, the TIFIA Lender’s determination of such matters as set forth on Exhibit G shall be conclusive evidence thereof; provided, however, 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 TIFIA Loan Document. All such partial prepayments of principal that occur prior to the Level Payment Commencement Date shall be applied to reduce future payments due on the TIFIA Bond pro rata, based on the principal amount due and payable as of any Semi-Annual Payment Date in inverse order of maturity or, relation to the extent any such prepayment occurs aggregate principal payments to be made prior to the Level Payment Commencement Date, as set forth in Exhibit N. Any such prepayment shall be applied first to payments of TIFIA Scheduled Debt Service and second to payments of TIFIA Mandatory Debt Service. All such partial prepayments of principal that occur after the Level Payment Commencement Date shall be applied pro rata equally to reduce each Fixed Level Payment ratably all future payments due on the TIFIA Bond by an equal the same amount. If said monies shall not have been so paid on the prepayment date, such principal amount of such TIFIA Bond shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate).

General Prepayment Instructions. Upon the TIFIA LenderWIFIA Xxxxxx’s receipt of confirmation that payment in full in immediately available funds of the entire Outstanding TIFIA WIFIA Loan Balance with respect to any WIFIA Loan and any unpaid interest interest, fees and fees expenses with respect thereto has occurred as a result of a mandatory or optional prepayment, the TIFIA WIFIA Lender shall surrender the TIFIA Bond corresponding WIFIA Note to the Borrower or its representative at by mail in accordance with Section 36 (Notices) or as otherwise agreed between the principal office of the TIFIA Lenderparties hereto. If the Borrower prepays only part of the unpaid balance of principal of such TIFIA Bondany WIFIA Loan, the TIFIA WIFIA Lender may make a notation on Exhibit G A (WIFIA Loan Amortization Schedule) attached to the applicable WIFIA Loan Agreement, indicating the amount of principal of and interest on such TIFIA Bond WIFIA Loan then being prepaid. Absent manifest error, the TIFIA LenderXXXXX Xxxxxx’s determination of such matters as set forth on such Exhibit G A (WIFIA Loan Amortization Schedule) shall be conclusive evidence thereof; provided, however, 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 TIFIA WIFIA Loan DocumentDocument to which the Borrower is a party, or any payment obligation of the District under the WIFIA IPA with respect to such WIFIA Loan or any other obligation of the District hereunder or under any WIFIA Loan Document to which the District is a party. All such partial prepayments of principal shall be applied to reduce future payments due on the TIFIA Bond in inverse order of maturity or, to the extent any such prepayment occurs prior to the Level Payment Commencement Date, to reduce each Fixed Level Payment ratably by an equal amountapplicable WIFIA Loan on a pro rata basis. If said monies shall such funds have not have been so paid on the prepayment date, such principal amount of such TIFIA Bond WIFIA Loan shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate)the applicable WIFIA Loan Agreement.

General Prepayment Instructions. Upon the TIFIA LenderXxxxxx’s receipt of confirmation that payment in full of the entire Outstanding TIFIA Loan Balance and any unpaid interest and fees with respect thereto has occurred as a result of a mandatory or optional prepayment, the TIFIA Lender shall surrender the TIFIA Bond to the Borrower or its representative at the principal office of the TIFIA LenderLender or certify to the Borrower that the TIFIA Bond has been destroyed in accordance with the TIFIA Xxxxxx’s procedures. If the Borrower prepays only part of the unpaid balance of principal of such TIFIA BondXXXXX Xxxx, the TIFIA Lender may make a notation on Exhibit G indicating the amount of principal of and interest on such TIFIA Bond then being prepaid. Absent manifest error, the TIFIA LenderXXXXX Xxxxxx’s determination of such matters as set forth on Exhibit G shall be conclusive evidence thereof; provided, however, 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 TIFIA Loan Document. All such partial prepayments of principal that occur prior to the Level Payment Commencement Date shall be applied (i) first to reduce future payments of any TIFIA Scheduled Debt Service that would otherwise be payable on a pro rata basis (assuming that all such TIFIA Scheduled Debt Service would be paid in full prior to the Level Payment Commencement Date) until no amounts of TIFIA Scheduled Debt Service shall remain payable, and (ii) second to reduce future payments of TIFIA Mandatory Debt Service due on the TIFIA Bond in inverse order of maturity or, prior to the extent Level Payment Commencement Date pro rata, based on the principal amount due and payable as of any such prepayment occurs Semi-Annual Payment Date in relation to the aggregate principal payments to be made prior to the Level Payment Commencement Date, as set forth in Exhibit M. All such partial prepayments of principal that occur on or after the Level Payment Commencement Date shall be applied pro rata equally to reduce each Fixed Level Payment ratably all future payments due on the TIFIA Bond by an equal the same amount. If said monies shall not have been so paid on the prepayment date, such principal amount of such TIFIA Bond shall continue to bear interest until payment thereof at the rate provided for in Section 6 (Interest Rate).