Common use of EVASION OF PREPAYMENT PREMIUM Clause in Contracts

EVASION OF PREPAYMENT PREMIUM. If, at any time during the Term, the Loan is accelerated after an event of default or there is any prepayment not permitted by the Loan Documents, then any tender of payment of the amount necessary to satisfy the entire Loan, any judgment of foreclosure, any sum due at foreclosure and any tender of payment during any redemption period will include, to the extent permitted by Law, an amount (the “Evasion of Prepayment Premium”) which is the greater of (a) an amount equal to the Prepayment Percentage plus 300 basis points times the Prepayment Date Principal, or (b) the amount by which the sum of the Discounted Values of the Note Payments, derived by using the Default Discount Rate (defined herein), exceeds the Prepayment Date Principal. In order to calculate the sum of the Discounted Values in the foregoing, each remaining Note Payment will be discounted and the resulting Discounted Values will be added together.