Payments of Principal Clause Example from Business Contracts

Payments of Principal. On the Maturity Date, the Company shall pay to the Holder an amount in cash representing 120% of all outstanding Principal, accrued and unpaid Interest and accrued and unpaid Late Charges (as defined in Section 17(c)) on such Principal and Interest. Other than as specifically permitted by this Note, the Company may not prepay any portion of the outstanding Principal, accrued and unpaid Interest or accrued and unpaid Late Charges on Principal and Interest, if any.