Common use of Notes Payable on Optional Redemption Date or Payment Date Clause in Contracts

Notes Payable on Optional Redemption Date or Payment Date. Notice of redemption having been given as provided in Section 10.02 hereof, the Notes to be redeemed shall on the Optional Redemption Date become due and payable at the Optional Redemption Price and (unless the Note Issuer shall default in the payment of the Optional Redemption Price) no interest shall accrue on the Optional Redemption Price for any period after the date to which accrued interest is calculated for purposes of calculating the Optional Redemption Price.