Common use of Prepayment After Event of Default Clause in Contracts

Prepayment After Event of Default. If following the occurrence of any Event of Default, Borrower shall tender payment of an amount sufficient to satisfy the Debt at any time prior to or after a sale of the Mortgaged Property, either through foreclosure or the exercise of the other remedies available to Lender under the Security Instruments or the Other Security Documents, such tender by Borrower shall be deemed to be a voluntary prepayment under this Note in the amount tendered and in such case Borrower shall also pay to Lender, with respect to the amount tendered, the applicable Prepayment Consideration set forth in this Note, which Prepayment Consideration shall be immediately due and payable. Lender shall not be obligated to accept any such prepayment of this Note unless it is accompanied by an amount (the “Prepayment Consideration”) equal to the greater of: (x) one percent (1%) of the outstanding principal balance of this Note at the time of prepayment; or (y) the Yield Maintenance Amount (hereinafter defined). Lender shall not be obligated to accept any such tender unless it is accompanied by all Prepayment Consideration due in connection therewith. Borrower acknowledges that the Prepayment Consideration is a bargained for consideration and not a penalty, and Borrower recognizes that Lender would incur substantial additional costs and expenses in the event of a prepayment of the Debt and that the Prepayment Consideration compensates Lender for such costs and expenses (including without limitation, the loss of lender’s investment opportunity during the period from the date such tender is accepted until the Maturity Date). Borrower agrees that Lender shall not, as a condition to receiving the Prepayment Consideration, be obligated to actually reinvest the amount prepaid in any treasury obligation or in any other manner whatsoever. Except as otherwise set forth in the Security Instruments, no Prepayment Consideration will be due for involuntary prepayments resulting from any Casualty (as defined in each Security Instrument) or Condemnation (as defined in each Security Instrument).

Prepayment After Event of Default. If following a Default Prepayment --------------------------------- (defined below) occurs, Borrower shall pay to Lender the entire Debt, including the Prepayment Compensation (as defined in the Credit Agreement), if any, payable pursuant to the provisions of the Note and the Credit Agreement. For purposes of this Section 9.3, the term "Default Prepayment" shall mean a prepayment of the principal amount of the Note made after the occurrence and during the continuance of any Event of DefaultDefault or an acceleration of the Maturity Date (as defined in the Note) under any circumstances, including a prepayment occurring in connection with reinstatement of this Security Instrument provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower shall tender payment or any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of an amount sufficient to satisfy the Debt a power of sale or otherwise. Borrower agrees that if, at any time prior to the Maturity Date an Event of Default shall occur and be continuing, then a tender of payment by Borrower, or after a by anyone on behalf of Borrower, of the amount necessary to satisfy all sums due hereunder made at any time prior to judicial, public or private sale of the Mortgaged Property, either through foreclosure property encumbered by this Security Instrument or under any other instrument given as collateral security for the exercise obligation evidenced by the Note shall constitute an evasion of the other remedies available to Lender under the Security Instruments or the Other Security Documents, such tender by Borrower payment terms thereof and shall be deemed to be a voluntary prepayment hereunder, and any such payment, to the extent permitted by law, therefore must include the Prepayment Compensation, if any, required under the Credit Agreement. Borrower hereby expressly (a) waives any rights it may have under California Civil Code 2954.10 to prepay the Debt, in whole or in part, without penalty, upon acceleration of the maturity of the Debt, and (b) agrees that if a prepayment of any or all of the Debt is made, following any acceleration of the Maturity Date by the holder hereof on account of any transfer or disposition as prohibited or restricted by Section 8.2 of this Note in the amount tendered and in such case Security Instrument, then Borrower shall also pay be obligated to Lenderpay, with respect to the amount tenderedconcurrently therewith, as a prepayment fee, the applicable Prepayment Consideration set forth sum specified in this Noteparagraph. By initialing this provision in the space provided below, which Prepayment Consideration shall be immediately due and payable. Lender shall not be obligated the undersigned hereby declares that Borrower's agreement to accept any such prepayment of this Note unless it is accompanied by an amount (make the “Prepayment Consideration”) equal to the greater of: (x) one percent (1%) of the outstanding principal balance of this Note Loan at the time of prepayment; or (y) interest rate and for the Yield Maintenance Amount (hereinafter defined). Lender shall not be obligated to accept any such tender unless it is accompanied by all Prepayment Consideration due in connection therewith. Borrower acknowledges that the Prepayment Consideration is a bargained for consideration and not a penalty, and Borrower recognizes that Lender would incur substantial additional costs and expenses in the event of a prepayment of the Debt and that the Prepayment Consideration compensates Lender for such costs and expenses (including without limitation, the loss of lender’s investment opportunity during the period from the date such tender is accepted until the Maturity Date). Borrower agrees that Lender shall not, as a condition to receiving the Prepayment Consideration, be obligated to actually reinvest the amount prepaid in any treasury obligation or in any other manner whatsoever. Except as otherwise term set forth in the Security InstrumentsCredit Agreement constitutes adequate consideration, no Prepayment Consideration will be due given individual weight by the undersigned, for involuntary prepayments resulting from any Casualty (as defined in each Security Instrument) or Condemnation (as defined in each Security Instrument)this waiver and agreement.

Prepayment After Event of Default. If following the occurrence of --------------------------------- any Event of Default, Borrower shall tender payment of an amount sufficient to satisfy the Debt at any time prior to or after a sale of the Mortgaged Property, either through foreclosure or the exercise of the other remedies available to Lender under the Security Instruments Instrument or the Other Security Documents, such tender by Borrower shall be deemed to be a voluntary prepayment under this Note in the amount tendered and in such case Borrower shall also pay to Lender, with respect to the amount tendered, the applicable Prepayment Consideration set forth in this Note, which Prepayment Consideration shall be immediately due and payable. Lender shall not be obligated to accept any such prepayment of this Note unless it is accompanied by an amount (the “"Prepayment Consideration”") ------------------------ equal to the greater of: (x) one percent (1%) of the outstanding principal balance of this Note at the time of prepayment; or (y) the Yield Maintenance Amount (hereinafter defined). Lender shall not be obligated to accept any such tender unless it is accompanied by all Prepayment Consideration due in connection therewith. Borrower acknowledges that the Prepayment Consideration is a bargained for consideration and not a penalty, and Borrower recognizes that Lender would incur substantial additional costs additxxxxx xxsts and expenses in the event of a prepayment of the Debt and that the Prepayment Consideration compensates Lender for such costs and expenses (including without limitation, the loss of lender’s Lender's investment opportunity during the period from the date such tender is accepted until the Maturity Date). Borrower agrees that Lender shall not, as a condition to receiving the recexxxxx xxe Prepayment ConsiderationXxxxxxeration, be obligated to actually reinvest the amount prepaid in any treasury obligation or in any other manner whatsoever. Except as otherwise set forth in the Security InstrumentsInstrument, no Prepayment Consideration will be due for involuntary prepayments resulting from any Casualty (as defined in each the Security Instrument) or Condemnation (as defined in each the Security Instrument).

Prepayment After Event of Default. If following the occurrence of any Event of Default, Borrower shall tender payment of an amount sufficient to satisfy the Debt at any time prior to or after a sale of the Mortgaged Property, either through foreclosure or the exercise of the other remedies available to Lender under the Security Instruments or the Other Security Documents, such tender by Borrower shall be deemed to be a voluntary prepayment under this Note in the amount tendered and in such case Borrower shall also pay to Lender, with respect to the amount tendered, the applicable Prepayment Consideration set forth in this Note, which Prepayment Consideration shall be immediately due and payable. Lender shall not be obligated to accept any such prepayment of this Note unless it is accompanied by an amount (the “"Prepayment Consideration”") equal to the greater of: (x) one percent (1%) of the outstanding principal balance of this Note at the time of prepayment; or (y) the Yield Maintenance Amount (hereinafter defined). Lender shall not be obligated to accept any such tender unless it is accompanied by all Prepayment MCF 415 Promissory Note Last revised 7/5/05 Consideration due in connection therewith. Borrower acknowledges that the Prepayment Consideration is a bargained for consideration and not a penalty, and Borrower recognizes that Lender would incur wouxx xxxxx substantial additional costs and expenses in the event of a prepayment of the Debt and that the Prepayment Consideration compensates Lender for such costs and expenses (including without limitation, the loss of lender’s Lender's investment opportunity during the period from the date such tender is accepted until the Maturity Date). Borrower agrees that Lender shall notnxx, as a xx x condition to receiving xxxxxving the Prepayment Consideration, be obligated to actually reinvest the amount prepaid in any treasury obligation or in any other manner whatsoever. Except as otherwise set forth in the Security Instruments, no Prepayment Consideration will be due for involuntary prepayments resulting from any Casualty (as defined in each of the Security InstrumentInstruments) or Condemnation (as defined in each of the Security InstrumentInstruments).