Common use of Option to Prepay Loan Repayments Clause in Contracts

Option to Prepay Loan Repayments. The Governmental Agency may prepay the Loan Repayments, in whole or in part without penalty upon prior written notice (unless otherwise waived by the Authority) of not less than thirty (30) days. Prepayments shall be applied first to accrued interest and then to principal on the Loan. The Authority will amend Exhibit C to reflect any prepayment of the principal amount of the Loan.

Option to Prepay Loan Repayments. The Governmental Agency may prepay the Loan Repayments, in whole or in part without penalty upon prior written notice (unless otherwise waived by the Authority) of not less than thirty (30) daysdays to the Authority unless otherwise waived by the Authority. Prepayments shall be applied first to accrued interest on the portion of the Loan to be prepaid and then to principal payments on the Loan. The Authority will amend Exhibit C hereof to reflect any prepayment of the principal amount of the Loan, including any prepayment made on account of prepayments of special assessments received by the Governmental Agency.