Common use of Notes Payable on Optional Redemption Clause in Contracts

Notes Payable on Optional Redemption. Notice of redemption having been given as provided in Section 10.02, the Notes to be redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price and (unless the party electing to redeem shall default in the payment of the Redemption Price) no interest shall accrue on such Redemption Price for any period after such Redemption Date; provided, however, that if such Redemption Price is not paid on the Redemption Date, the related Note Balance shall, until paid, bear interest from the Redemption Date at the related Note Interest Rate.

Notes Payable on Optional Redemption. Notice of redemption having been given as provided in Section 10.02, the Notes to be redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price and (unless the party electing to redeem Issuer shall default in the payment of the Redemption Price) no interest shall accrue on such Redemption Price for any period after such Redemption Date; provided, however, that if such Redemption Price is not paid on the Redemption Date, the related Note Principal Balance shall, until paid, bear interest from the Redemption Date at the related Note Interest Rate.

Notes Payable on Optional Redemption. Notice of redemption having been given as provided in Section 10.02, the related Class of Notes to be redeemed shall, on the applicable Redemption Date, become due and payable at the Redemption Price and (unless the party electing to redeem shall default in the payment of the Redemption Price) no interest shall accrue on such Redemption Price for any period after such Redemption Date; provided, however, that if such Redemption Price is not paid on the Redemption Date, the related Note Balance shall, until paid, bear interest from the Redemption Date at the related Note Interest Rate.