Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents and without any obligation on the part of Borrower, or any other Loan Party or any Mezzanine Borrower to make, or any Lender or any Mezzanine Lender to accept, a Discounted Payoff under this Agreement or any Mezzanine Loan Agreement, any Mezzanine Borrower and its Affiliates shall be permitted to make a Discounted Payoff of any Mezzanine Loan; provided that, no Event of Default is continuing (solely under the Loan and not any Mezzanine Loan) and, provided, further, that any Mezzanine Lender (or any individual co-lender or participant) receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement or any Lender Documents, any prepayments made by any Mezzanine Borrower or its Affiliates in connection with a Discounted Payoff shall be applied solely to reduce such portion of any Mezzanine Loan held by any Mezzanine Lender or participant in any Mezzanine Loan by an amount equal to the Face Amount of such Discounted Payoff. For purposes of calculating the Debt Yield, any portion of any Mezzanine Loan deemed outstanding after giving effect to such Discounted Payoff shall be reduced by the Face Amount of any Mezzanine Loan retired in connection with such Discounted Payoff.
Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower, Mortgage Borrower or any Other Mezzanine Borrower to make, or any Lender, Mortgage Lender or Other Mezzanine Lender to accept, a Discounted Payoff under this Loan Agreement, the Mortgage Loan Agreement or any Other Mezzanine Loan Agreement, as applicable, Mortgage Borrower, each Other Mezzanine Borrower shall be permitted to prepay at a discount any portion of the Mortgage Loan or related Other Mezzanine Loan, as applicable, (each a “Discounted Payoff”); provided that, no Mortgage Event of Default is continuing, Event of Default is continuing, no Mezzanine B Loan Default and no Mezzanine C Loan Default is continuing, and provided further that Mortgage Lender or the applicable Other Mezzanine Lender, as applicable, receiving such Discounted Payoff agrees to accept such Discounted Payoff. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by Mortgage Borrower or an Other Mezzanine Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the Mortgage Loan or related Other Mezzanine Loan, as applicable, held by the Other Mezzanine Lender, as applicable, or participant in such Other Mezzanine Loan accepting such Discounted Payoff by an amount equal to the Face Amount. Notwithstanding such Discounted Payoff, the Mortgage Loan, applicable, Other Mezzanine Loan, as applicable, shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating Debt Yield.
Discounted Payoff. Subject to and effective upon due performance by Avatech of each of the following:
Discounted Payoff. The Special Servicer may (pursuant to the ----------------- authority granted to the Special Servicer by the terms and provisions of Section 3.10 (a) above), subject to the Decision Matrix, accept a discounted payoff of a Transferred Mortgage Loan. The Special Servicer, or any of its affiliates, may provide new financing to the Mortgagor to facilitate such discounted payoff provided that the Special Servicer obtains the Owner's prior written consent with respect thereto. The Owner acknowledges that if the Special Servicer provides such financing, the Special Servicer may receive fees from the Mortgagor in connection therewith and the Owner will not be entitled to any such fees to the extent that such fees are customary and reasonable.
Discounted Payoff. Section 5 of the Sixth Extension Agreement is amended and restated in its entirety by the following superseding provisions.
Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower to make, or Lender to accept a Discounted Payoff under this Loan Agreement, Borrower shall be permitted to prepay at a discount any portion of the Loan (a “Discounted Payoff”); provided that, no Mortgage Loan Default is continuing, and provided further that Lender has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the Loan held by the Lender or participant in the Loan accepting such Discounted Payoff by an amount equal to the Face Amount. Notwithstanding such Discounted Payoff, the Loan shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating Debt Yield.
Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower to make, or any Lender to accept a Discounted Payoff under this Loan Agreement, Borrower shall be permitted to prepay at a discount any portion of the Loan (a “Discounted Payoff”); provided that, no Mortgage Loan Default or Mezzanine A Loan Default is continuing, and provided further that Lender has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by Borrower in connection with a Discounted Payoff shall be applied solely to reduce the portion of the Loan held by the Lender or participant in the Loan accepting such Discounted Payoff by an amount equal to the Face Amount. Notwithstanding such Discounted Payoff, the Loan shall be deemed to remain outstanding at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating Debt Yield.
Discounted Payoff. (a) Notwithstanding anything to the contrary contained in this Agreement and without any obligation on the part of Borrower to make, or any Lender to accept, a Discounted Payoff under this Loan Agreement, as applicable, Borrower shall be permitted to prepay at a discount any non-securitized portion of the Loan in whole (a “Discounted Payoff”); provided that, no Event of Default is continuing and, and provided, further, that the Lender receiving such Discounted Payoff has consented to such prepayment. Notwithstanding anything to the contrary contained in this Agreement, any prepayments made by Borrower in connection with a Discounted Payoff shall be applied solely to reduce any non-securitized portion of the Loan, as applicable, held by Lender by an amount equal to the Face Amount of such Discounted Payoff. Notwithstanding such Discounted Payoff, the non-securitized portion of the Loan shall be deemed to remain outstanding for the term of the Loan at the amount of principal then outstanding immediately prior to such Discounted Payoff for purposes of calculating Debt Yield.
Discounted Payoff. (a) The Prospect Parties, collectively and individually, shall make their best efforts to raise a sufficient aggregate amount in Equity Issuances (as defined in the Note) between the Effective Date and March 10, 2014 (the “Prepayment Expiration Date”) in order to make Twenty-Five Million Dollars ($25,000,000) in aggregate payments pursuant to the Note after the Effective Date and before the Prepayment Expiration Date.
Discounted Payoff. Borrower agrees to pay to Lender an amount equal to $25,000,000.00 (the “Discounted Payoff Amount”) in cash by wire transfer of immediately available funds to the account specified on Schedule 1 attached hereto prior to 5:00 pm (New York City time) on November 30, 2009 (the “Outside Payoff Date”), subject to Section 1.3 hereof. Provided that each of the conditions set forth in Section 2.1 hereof have been satisfied, Lender agrees to accept the Discounted Payoff Amount in full and complete satisfaction of the Loans. Upon acceptance of the Discounted Payoff Amount by Lender in accordance with the terms hereof, the obligations of all Borrower Parties under the Loan Documents and Junior A Mezzanine Loan Documents shall be deemed satisfied and released as if, and to extent, such obligations are satisfied and released upon payment in full of all amounts due under the Loans, subject only to Section 3.1 hereof.
