Common use of XXXXXXXX’S RIGHT TO PREPAY Clause in Contracts

XXXXXXXX’S RIGHT TO PREPAY. A Borrower receiving monthly payments under the Loan Agreement has the right to pay the debt evidenced by this Note, in whole or in part, without charge or penalty on the first day of any month. Otherwise, a Borrower has the right to pay the debt evidenced by this Note, in whole or in part, without charge or penalty after giving Lender two weeks notice. Any amount of debt prepaid will first be applied to reduce the principal balance of this Note and then to reduce the principal balance of the First Note. All prepayments of the principal balance shall be applied by Xxxxxx as follows:

XXXXXXXX’S RIGHT TO PREPAY. A Borrower receiving monthly payments under the Loan Agreement has the right to pay the debt evidenced by this Note, in whole or in part, without charge or penalty on the first day of any month. Otherwise, a Borrower has the right to pay the debt evidenced by this Note, in whole or in part, without charge or penalty after giving Lender Xxxxxx two weeks notice. Any amount of debt prepaid first will first be applied to reduce the principal balance of this Note and then to reduce the principal balance of the First Note. All prepayments of the principal balance shall be applied by Xxxxxx as follows: