Common use of Fixed Rate Price Adjustment Clause in Contracts

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall pay to Administrative Agent, for the account of each Lender, in addition to all other sums then owing, an amount ("Fixed Rate Price Adjustment") equal to the then present value of (A) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portion, less (B) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date. The present value shall be calculated by using as a discount rate the Fixed Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.

Appears in 2 contracts

Samples: Term Loan Agreement (Arden Realty Limited Partnership), Term Loan Agreement (Arden Realty Limited Partnership)

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Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lenders' incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lenders) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Ai) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bii) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by the Administrative Agent, for the benefit of the Lenders, using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.

Appears in 2 contracts

Samples: Loan Agreement (CBL & Associates Properties Inc), Loan Agreement (CBL & Associates Properties Inc)

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lenders’ incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lenders) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Ai) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bii) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.Agreement Borrower Initials. _______________

Appears in 1 contract

Samples: Loan Agreement (Maui Land & Pineapple Co Inc)

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lender's incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lender) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Aa) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bb) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' Lender's agreement to make the Loan loan xxxxxxxed by this Note at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.. BORROWER'S INITIALS: ------------

Appears in 1 contract

Samples: Communications & Power Industries Inc

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lenders’ incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lenders) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Ai) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bii) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreementagreement Borrower Initials.

Appears in 1 contract

Samples: Loan Agreement (Highland Hospitality Corp)

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lender's incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lender) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Aa) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bb) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower Xxxxxxxx confirms that Lenders' Xxxxxx's agreement to make the Loan loan evidenced by this Note at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.. XXXXXXXX'S INITIALS: ____________

Appears in 1 contract

Samples: Price Legacy Corp

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lender's incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment DatePRICE ADJUSTMENT DATE"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lender) AN ADMINISTRATION FEE PLUS an amount ("Fixed Rate Price AdjustmentFIXED RATE PRICE ADJUSTMENT") equal to the then then-present value of of: (Aa) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portion, less set on the Fixed Rate Commencement Date; LESS (Bb) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBOR Rate in effect on the Price Adjustment Date. The present value shall be calculated by using as a discount rate the Fixed LIBOR Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.

Appears in 1 contract

Samples: Fixed Rate Agreement (Behringer Harvard Short Term Opportunity Fund I Lp)

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Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lenders’ incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lenders) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Ai) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bii) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by the Administrative Agent, for the benefit of the Lenders, using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.. Borrower Initials. /s/

Appears in 1 contract

Samples: Building Loan Agreement (Sunrise Senior Living Inc)

Fixed Rate Price Adjustment. Borrower acknowledges that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders Lenders’ incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lenders) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Ai) the amount of interest that Loan No. 1005062 would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bii) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by the Administrative Agent, for the benefit of the Lenders, using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreementagreement Borrower Initials.

Appears in 1 contract

Samples: Loan Agreement (Strategic Hotels & Resorts, Inc)

Fixed Rate Price Adjustment. Borrower acknowledges Borrowers acknowledge that prepayment or acceleration of a Fixed Rate Portion during a Fixed Rate Period shall result in the Lenders incurring additional costs, expenses and/or liabilities and that it is extremely difficult and impractical to ascertain the extent of such costs, expenses and/or liabilities. Therefore, on the date a Fixed Rate Portion is prepaid or the date all sums payable hereunder become due and payable, by acceleration or otherwise ("Price Adjustment Date"), Borrower shall Borrowers will pay to Administrative Agent, for the account of each Lender, Lender (in addition to all other sums then owing, owing to Lenders) an amount ("Fixed Rate Price Adjustment") equal to the then present value of (Ai) the amount of interest that would have accrued on the Fixed Rate Portion for the remainder of the Fixed Rate Period at the rate applicable to such Fixed Rate Portionset on the Fixed Rate Commencement Date, less (Bii) the amount of interest that would accrue on the same Fixed Rate Portion for the same period if the Fixed Rate were set on the Price Adjustment Date at the Applicable LIBO Rate in effect on the Price Adjustment Date. The present value shall be calculated by the Administrative Agent, for the benefit of the Lenders, using as a discount rate the Fixed LIBO Rate quoted on the Price Adjustment Date. By initialing this provision where indicated below, Borrower confirms that Lenders' agreement to make the Loan at the interest rates and on the other terms set forth herein and in the other Loan Documents constitutes adequate and valuable consideration, given individual weight by Borrower, for this agreement.

Appears in 1 contract

Samples: And Consolidated Loan Agreement (KBS Real Estate Investment Trust II, Inc.)

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