Prepayment Adjustments. Sections 8. (a) and (b) of the Note are hereby revised to adjust the applicable time frames and corresponding amounts of any Reinvestment Charge due under the terms of the Loan Documents; accordingly said sections are amended and restated in their entirety to read as follows: (a) Prior to December 31, 2010, this Note may not be prepaid, except as may be expressly provided for in the Loan Agreement. (b) Beginning on January 1, 2011, the Borrower may prepay this Note in whole or in part, subject to subsection 8(c) below, provided such prepayment is accompanied by a reinvestment charge (hereinafter referred to as the “Reinvestment Charge”). The Reinvestment Charge shall be an amount equal to (i) two percent (2.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2011 through December 31, 2011, (ii) one percent (1.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2012 through December 31, 2012, and (iii) zero percent (0%) of the principal amount prepaid with respect to prepayments made after December 31, 2012.
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Samples: Loan Modification Agreement (Stratus Properties Inc), Loan Modification Agreement (Stratus Properties Inc)
Prepayment Adjustments. Sections 8. (a) and (b) of the Note are is hereby revised to adjust the applicable time frames and corresponding amounts of any Reinvestment Charge due under the terms of the Loan Documents; accordingly said sections are amended and restated in their entirety to read as follows:
(a) Prior to December 31, 2010, this Note may not be prepaid, except as may be expressly provided for in the Loan Agreement.
(b) Beginning on January 1, 2011, the Borrower may prepay this Note in whole or in part, subject to subsection 8(c) below, provided such prepayment is accompanied by a reinvestment charge (hereinafter referred to as the “Reinvestment Charge”). The Reinvestment Charge shall be an amount equal to (i) two one percent (2.01.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2011 through December 31, 2011, and (ii) one percent (1.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2012 through December 31, 2012, and (iii) zero percent (0%) of the principal amount prepaid with respect to prepayments made after December 31, 20122011.
Appears in 1 contract
Samples: Loan Modification Agreement (Stratus Properties Inc)
Prepayment Adjustments. Sections 8. (a) and (b) of the Note are is hereby revised to adjust the applicable time frames and corresponding amounts of any Reinvestment Charge due under the terms of the Loan Documents; accordingly said sections are amended and restated in their entirety to read as follows:
(a) Prior to December 31, 20102011, this Note may not be prepaid, except as may be expressly provided for in the Loan Agreement.
(b) Beginning on January 1, 20112012, the Borrower may prepay this Note in whole or in part, subject to subsection 8(c) below, provided such prepayment is accompanied by a reinvestment charge (hereinafter referred to as the “Reinvestment Charge”). The Reinvestment Charge shall be an amount equal to (i) two percent (2.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2011 2012 through December 31, 20112012, (ii) one percent (1.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2012 2013 through December 31, 20122013, and (iii) zero percent (0%) of the principal amount prepaid with respect to prepayments made after December 31, 20122013.
Appears in 1 contract
Samples: Loan Modification Agreement (Stratus Properties Inc)
Prepayment Adjustments. Sections 8. (a) and (b) of the Note are hereby revised to adjust the applicable time frames and corresponding amounts of any Reinvestment Charge due under the terms of the Loan Documents; accordingly said sections are amended and restated in their entirety to read as follows:.
(a) Prior to December 31, 20102011, this Note may not be prepaid, except as may be expressly provided for in the Loan Agreement.
(b) Beginning on January 1, 20112012, the Borrower may prepay this Note in whole or in part, subject to subsection 8(c) below, provided such prepayment is accompanied by a reinvestment charge (hereinafter referred to as the “Reinvestment Charge”). The Reinvestment Charge shall be an amount equal to (i) two percent (2.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2011 2012 through December 31, 20112012, (ii) one percent (1.0%) of the principal amount prepaid with respect to prepayments made between January 1, 2012 2013 through December 31, 20122013, and (iii) zero percent (0%) of the principal amount prepaid with respect to prepayments made after December 31, 20122013.
Appears in 1 contract
Samples: Loan Modification Agreement (Stratus Properties Inc)