Common use of Prepayment Upon an Event of Default Clause in Contracts

Prepayment Upon an Event of Default. Notwithstanding anything to the contrary contained herein, following the occurrence of an Event of Default, the Holder shall have the right, at the Holder’s option to require the Maker to prepay all or a portion of this Note in cash at a price equal to the sum of one hundred five percent (105%) of the Outstanding Principal Amount plus all accrued interest thereon (if any) (the “Cash Repayment Price”).