Common use of Options of Borrower to Prepay Repayment Installments Clause in Contracts

Options of Borrower to Prepay Repayment Installments. (a) The Borrower shall have, and is hereby granted, the option to prepay the loan payable under Section 5.02 hereof in whole or in part by causing the Bonds to be called for redemption pursuant to Section 4.01 of the Indenture in which case all or a portion of the balance of the loan payable under Section 5.02 hereof shall become due and payable on the redemption date specified pursuant to Section 9.02 hereof in an amount sufficient to pay the principal of any premium, if any, and interest on the Bonds so called for redemption. (b) The Borrower shall also have, and is hereby granted, the option to prepay the amounts payable under Section 5.02 hereof in whole or in part by causing Bonds to be deemed to have been paid pursuant to Section 9.01 of the Indenture by depositing with the Trustee moneys or obligations, or a combination thereof, as required by such Section 9.01 and by giving the irrevocable instructions required by such Section 9.01.