Common use of Prepaid Loan Clause in Contracts

Prepaid Loan. The Servicer may not permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless (x) the Servicer provides an Additional Loan or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Outstanding Loan Balance on the date of such prepayment, (B) any outstanding Servicer Advances thereon, (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization Event has occurred, the Servicer may not permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (A) the Outstanding Loan Balance on the date of such prepayment, (B) any outstanding Servicer Advances thereon, (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 2 contracts

Samples: Purchase and Servicing Agreement (First International Bancorp Inc), Loan Purchase and Servicing Agreement (First International Bancorp Inc)

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Prepaid Loan. The Prior to a Termination Event, the Servicer may not voluntarily permit a Loan in the an Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss)Loan, unless (x) the Servicer Seller provides an Additional a Substitute Loan in accordance with Section 2.16 or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (Aa) the Outstanding Loan Balance on the date of such prepaymentpayment, (Bb) any outstanding Servicer Advances thereon, (Cc) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Asset becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization a Termination Event has occurred, the Servicer may not voluntarily permit a Loan in the an Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (Aa) the Outstanding Loan Balance on the date of such prepayment, (Bb) any outstanding Servicer Advances thereon, (Cc) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Asset becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (MCG Capital Corp), Sale and Servicing Agreement (MCG Capital Corp)

Prepaid Loan. The Servicer may not permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless (x) the Servicer provides an Additional Loan or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (Aa) the Outstanding Loan Balance on the date of such prepayment, (Bb) any outstanding Servicer Advances thereon, (Cc) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (Dd) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization Event has occurred, the Servicer may not permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (Aa) the Outstanding Loan Balance on the date of such prepayment, (Bb) any outstanding Servicer Advances thereon, (Cc) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (Dd) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 1 contract

Samples: Purchase and Servicing Agreement (First International Bancorp Inc)

Prepaid Loan. The Servicer may not permit a Loan in the Asset Pool to ------------ become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless (x) the Servicer provides an Additional ------ Loan or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Outstanding Loan Balance on the date of such prepayment, (B) any outstanding Servicer Advances thereon, (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization Event has occurred, the Servicer may not permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless the Servicer collects an amount ------ equal to the sum of (A) the Outstanding Loan Balance on the date of such prepayment, (B) any outstanding Servicer Advances thereon, (C) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 1 contract

Samples: Loan Purchase and Servicing Agreement (First International Bancorp Inc)

Prepaid Loan. The Prior to a Termination Event, the Servicer may not voluntarily permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss)in whole or in part, unless (xi) the Servicer provides an Additional a Substitute Loan in accordance with Section 2.15 or (yii) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (A) the Outstanding Loan Balance (or portion thereof to be prepaid) on the date of such prepaymentpayment, (B) any outstanding Servicer Advances thereonon the amount prepaid, (C) any accrued and unpaid interest thereon, and (D) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization a Termination Event has occurred, the Servicer may not voluntarily permit a Loan in the Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), in whole or in part unless the Servicer collects an amount equal to the sum of (A1) the Outstanding Loan Balance (or portion thereof to be prepaid) on the date of such prepayment, (B2) any outstanding Servicer Advances on the amount prepaid, (3) any accrued and unpaid interest thereon, and (C4) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Collateral becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 1 contract

Samples: Loan and Servicing Agreement (NewStar Financial, Inc.)

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Prepaid Loan. The Prior to a Termination Event, the Servicer may not voluntarily permit a Loan in the an Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss)Loan, unless (x) the Servicer provides an Additional a Substitute Loan in accordance with Section 2.16 or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (Aa) the Outstanding Loan Balance on the date of such prepaymentpayment, (Bb) any outstanding Servicer Advances thereon, (Cc) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Asset becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization a Termination Event has occurred, the Servicer may not voluntarily permit a Loan in the an Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (Aa) the Outstanding Loan Balance on the date of such prepayment, (Bb) any outstanding Servicer Advances thereon, (Cc) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Asset becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 1 contract

Samples: Loan Certificate and Servicing Agreement (Capitalsource Inc)

Prepaid Loan. The Prior to a Termination Event, the Servicer may not voluntarily permit a Loan in the an Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss)Loan, unless (x) the Servicer provides an Additional a Substitute Loan in accordance with Section 2.16 or (y) such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (Aa) the Outstanding Loan Balance on the date of such prepaymentpayment, (Bb) any outstanding Servicer Advances thereon, (Cc) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Asset becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment. After an Early Amortization a Termination Event has occurred, the Servicer may not voluntarily permit a Loan in the an Asset Pool to become a Prepaid Loan (which shall not include a Loan that becomes a Prepaid Loan due to a Casualty Loss), unless the Servicer collects an amount equal to the sum of (Aa) the Outstanding Loan Balance on the date of such prepayment, (Bb) any outstanding Servicer Advances thereon, (Cc) any accrued and unpaid interest, and (d) all Hedge Breakage Costs owing to the relevant Hedge Counterparty for any termination of one or more Hedge Transactions, in whole or in part, as required by the terms of any Hedging Agreement as the result of any such Loan Asset becoming a Prepaid Loan, and (D) any accrued and unpaid Yield thereon and all Breakage Costs arising as a result of such prepayment.

Appears in 1 contract

Samples: Loan Certificate and Servicing Agreement (Capitalsource Inc)

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