Common use of Payment and Prepayment Clause in Contracts

Payment and Prepayment. Borrower shall have the right to prepay the Loan, in whole or in part, at any time without penalty. All payments received by Lender shall be applied, first, to the payment of fees, interest and other obligations (other than principal) hereunder, and second, to the payment of principal, each in such order and priority as the Lender shall determine in its sole discretion. Upon full payment of all amounts due and owing on the Loan, and Borrower giving written notice to the Lender, the Lender shall immediately return the original Notes to Borrower marked "Satisfied."

Payment and Prepayment. Borrower shall have the right to prepay the Loan, in whole or in part, at any time without penalty. All payments received by Lender shall be applied, first, to the payment of fees, interest and other obligations (other than principal) hereunder, and second, to the payment of principal, each in such order and priority as the Lender shall determine in its sole discretion. Upon full payment of all amounts due and owing on the Loan, and Borrower giving written notice to the Lender, the Lender shall immediately return the original Notes to Borrower marked "“Satisfied."”