Common use of Notice of prepayment; reduction of repayment instalments Clause in Contracts

Notice of prepayment; reduction of repayment instalments. 4.6.1 No prepayment may be effected under clause 4.2 unless the Borrower shall have given the Bank at least fifteen (15) days’ prior written notice of their intention to make such prepayment. Every notice of prepayment shall be effective only on actual receipt by the Bank, shall be irrevocable, shall specify the amount to be prepaid and shall oblige the Borrower to make such prepayment on the date specified. 4.6.2 Any amounts prepaid pursuant to clause 4.2 shall be applied against the Loan in reducing the Balloon Instalment and thereafter the repayment instalments in inverse order of their maturity. 4.6.3 The Borrower may not prepay any part of the Loan except as expressly provided in this Agreement. 4.6.4 No amount prepaid may be reborrowed.

Notice of prepayment; reduction of repayment instalments. 4.6.1 No prepayment may be effected under clause 4.2 unless the Borrower Borrowers shall have given the Bank at least fifteen (15) days’ prior written notice of their intention to make such prepayment. Every notice of prepayment shall be effective only on actual receipt by the Bank, shall be irrevocable, shall specify the amount to be prepaid and shall oblige the Borrower Borrowers to make such prepayment on the date specified. 4.6.2 Any amounts prepaid pursuant to clause 4.2 shall be applied against the Loan in reducing the Balloon Instalment Instalments pro rata between the Tranches and thereafter the repayment instalments of each Tranche in inverse order of their maturity. 4.6.3 The Borrower Borrowers may not prepay any part of the Loan except as expressly provided in this Agreement. 4.6.4 No amount prepaid may be reborrowed.