Common use of Prepayment After Default Clause in Contracts

Prepayment After Default. If prepayment of the Principal Amount is made prior to the Balance Due Date or the maturity date of the last renewal of any fixed term loan secured by the Charge, then you agree to indemnify and save us harmless from all costs and losses resulting therefrom and to pay to us the amount determined in accordance with paragraph 10(b) above and we may also recover such amount from the proceeds of any sale of the Property or other proceedings for enforcement of the Charge;