Maturity Date and Optional Prepayments Clause Samples

Maturity Date and Optional Prepayments. (a) The Borrower shall repay the entire principal amount of the Term Loan in cash on the Maturity Date. The Borrower shall pay all accrued and unpaid interest in accordance with Section 4(a) above. (b) The Term Loan may be prepaid from time to time, in whole or in part, in an amount greater than or equal to $25,000, without penalty or premium, which prepayments shall be applied in accordance with Section 6 of this Agreement. Accrued interest on the amount prepaid shall be payable in accordance with Section 4(a) above. Amounts repaid or prepaid in respect of the Term Loan may not be reborrowed. (c) Except as set forth in Section 4(a) above, all payments under this Agreement shall be made in lawful money of the United States of America and in immediately available funds to the Lender. Whenever any payments to be made hereunder (including principal and interest) shall be stated to be due on a day on which Lender’s office is not open for business, that payment will be due on the next following Business Day, and any extension of time shall in each case be included in the computation of interest payable on this Agreement.

Maturity Date and Optional Prepayments. The Borrower shall repay the entire outstanding principal amount of the Term Loan plus all unpaid accrued interest thereon in cash on or before the Maturity Date.