Pre-payment Provisions. The Lessee shall have the right to prepay without penalty the amounts due under an Appendix, exercisable following twenty-four (24) months from the Vendor Payment Date related to such Appendix. The Lessee's right hereunder shall be exercised by:
a. The Lessee advising the Lessor, in writing, in advance of Pre-payment, of its intention to prepay its obligations hereunder and the effective date of that payment ("Pre-payment Date"); and
b. The Lessee paying the Lessor the outstanding principal balance Pre-payment Date together with interest from the most recent Payment Date up to and including the Pre-payment Date. Upon Pre-payment, the Lessee will pay any sums in arrears. The Lessee may not exercise its option to prepay an amount less than required for all Equipment under an Appendix without the written consent of the Lessor. Prepayments will be executed only in the amount of $5,000 or more of outstanding principal.
Pre-payment Provisions. The Lessee shall have the right, exercisable following the initial 24 months, to prepay without any penalty: The Lessee's right hereunder shall be exercised by:
a) the Lessee advising the Lessor, in writing, in advance of Pre-payment, of its intention to prepay its obligations hereunder and the effective date of that payment ("Pre-payment Date"); and
b) the Lessee paying the Lessor the outstanding principal balance Pre-payment Date together with interest from the most recent Payment Date up to and including the Pre-payment Date. Upon Pre-payment, the Lessee will pay any sums in arrears. The Lessee may not exercise its option to prepay an amount less than required for all Equipment under an Appendix without the written consent of the Lessor.
