Common use of Prepayment and Surcharge Clause in Contracts

Prepayment and Surcharge. The Borrower may, (i) on any Business Day prepay in full or in part any Portion of the Loan accruing interest at the Variable Rate, and (ii) on two (2) Business Day’s prior written notice prepay in full or in part any Portion of the Loan accruing interest at pursuant to the LIBOR option. Notwithstanding the foregoing, the Borrower’s right to prepay any amount accruing interest at pursuant to a fixed rate option (whether such payment is made voluntarily, as a result of an acceleration, or otherwise) shall be conditioned upon the payment of a prepayment Surcharge as defined and calculated below. For purposes of calculating the Surcharge provided for in this Section 6, early conversion of a Portion of the Loan accruing interest pursuant to the LIBOR option so that it accrues interest at a different rate pursuant to Section 4(A)(4) hereof shall be deemed a prepayment in full of that Portion of the Loan. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to a fixed rate option, and as a condition to any voluntary prepayment, the Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge (“Surcharge”) in an amount equal to the greater of (a) the present value of any funding losses incurred or imputed by CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR and (b) $300. Such Surcharge, including the amount of any funding losses incurred by CoBank, shall be determined and calculated in accordance with methodology established by CoBank.

Prepayment and Surcharge. The Borrower Borrowers may, (i) on any one Business Day Day's prior written notice, prepay in full or in part any Portion of the Loan accruing interest at the a Variable RateRate and, and (ii) may, on two (2) Business Day’s Days' prior written notice notice, prepay in full or in part any Portion of the Loan accruing interest at pursuant to either of the LIBOR optionfixed rate options described in Sections 5(A)(2) or 5(A)(3). Notwithstanding the foregoing, the Borrower’s Borrowers' right to prepay any amount accruing interest at pursuant to a fixed rate option Quoted Rate (whether such payment is made voluntarily, as a result of an acceleration, or otherwise) shall be conditioned upon the payment of a prepayment Surcharge as defined and calculated below and the Borrowers right to prepay any amount accruing interest at a LIBOR Option rate (whether such payment is made voluntarily, as a result of an acceleration or otherwise) shall be conditioned upon the payment of a LIBOR Surcharge as defined and calculated below. Unless otherwise agreed, all prepayments will be applied to principal installments on a pro rata basis and to such Portions of the Loan as CoBank shall specify. For purposes of calculating the Surcharge and LIBOR Surcharge provided for in this Section 6, early conversion of a Portion of the Loan accruing interest pursuant to the a Quoted Rate or a LIBOR option Option rate so that it accrues interest at a different rate pursuant to Section 4(A)(45(A)(4) hereof shall be deemed a prepayment in full of that Portion portion of the Loan. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to a fixed rate optionQuoted Rate, and as a condition to any voluntary prepayment, the Borrower Borrowers shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge (“"Surcharge”") in an amount equal to the greater of sum of: (a) the present value of any funding losses incurred or imputed by CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR and Quoted Rate; plus (b) $300. Such Surcharge, including 1/2 of 1 percent (0.50%) on the amount prepaid or converted. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to the LIBOR Option rate, and as a condition to any voluntary prepayment, the Borrowers shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("LIBOR Surcharge") in an amount equal to the present value of any funding losses incurred or imputed by CoBank, CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR Option rate. Such Surcharge and such LIBOR Surcharge shall be determined and calculated in accordance with methodology established by CoBank which shall be customary for the industry and consistent with CoBank.'s past practice for calculating such surcharge. First Supplement/Globe/Interstate/Valley Loan No. ML0883T1

Prepayment and Surcharge. The Borrower may, (i) on any Business Day prepay in full or in part any Portion of the Loan accruing interest at the Variable Rate, and (ii) on two (2) Business Day’s prior written notice prepay in full or in part any Portion of the Loan accruing interest at pursuant to the LIBOR option. Notwithstanding the foregoing, the Borrower’s right to prepay any amount accruing interest at pursuant to a fixed rate option (whether such payment is made voluntarily, as a result of an acceleration, or otherwise) shall be conditioned upon the payment of a prepayment Surcharge as defined and calculated below. For purposes of calculating the Surcharge provided for in this Section 6, early conversion of a Portion of the Loan accruing interest pursuant to the LIBOR option so that it accrues interest at a different rate pursuant to Section 4(A)(4) hereof shall be deemed a prepayment in full of that Portion of the Loan. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to a fixed rate option, and as a condition to any voluntary prepayment, the Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge (“Surcharge”) in an amount equal to the greater of (a) the present value of any funding losses incurred or imputed by CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR and (b) $300. Such Surcharge, including the amount of any funding losses incurred by CoBank, shall be determined and calculated in accordance with methodology established by CoBank.. Second Supplement to Master Loan Agreement/Warwick Valley Telephone Company Loan No. RX0886-S1

Prepayment and Surcharge. The Borrower Borrowers may, (i) on any one Business Day Day's prior written notice, prepay in full or in part any Portion of the Loan accruing interest at the a Variable RateRate and, and (ii) may, on two (2) Business Day’s Days' prior written notice notice, prepay in full or in part any Portion of the Loan accruing interest at pursuant to either of the LIBOR optionfixed rate options described in Sections 5(A)(2) or 5(A)(3). Notwithstanding the foregoing, the Borrower’s Borrowers' right to prepay any amount accruing interest at pursuant to a fixed rate option Quoted Rate (whether such payment is made voluntarily, as a result of an acceleration, or otherwise) shall be conditioned upon the payment of a prepayment Surcharge as defined and calculated below and the Borrowers right to prepay any amount accruing interest at a LIBOR Option rate (whether such payment is made voluntarily, as a result of an acceleration or otherwise) shall be conditioned upon the payment of a LIBOR Surcharge as defined and calculated below. Unless otherwise agreed, all prepayments will be applied to principal installments on a pro rata basis and to such Portions of the Loan as CoBank shall specify. For purposes of calculating the Surcharge and LIBOR Surcharge provided for in this Section 6, early conversion of a Portion of the Loan accruing interest pursuant to the a Quoted Rate or a LIBOR option Option rate so that it accrues interest at a different rate pursuant to Section 4(A)(45(A)(4) hereof shall be deemed a prepayment in full of that Portion portion of the Loan. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to a fixed rate optionQuoted Rate, and as a condition to any voluntary prepayment, the Borrower Borrowers shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge (“"Surcharge”") in an amount equal to the greater of sum of: (a) the present value of any funding losses incurred or imputed by CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR and Quoted Rate; plus (b) $300. Such Surcharge, including 1/2 of 1 percent (0.50%) on the amount prepaid or converted. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to the LIBOR Option rate, and as a condition to any voluntary prepayment, the Borrowers shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("LIBOR Surcharge") in an amount equal to the present value of any funding losses incurred or imputed by CoBank, CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR Option rate. Such Surcharge and such LIBOR Surcharge shall be determined and calculated in accordance with methodology established by CoBank which shall be customary for the industry and consistent with CoBank's past practice for calculating such surcharge.

Prepayment and Surcharge. The Borrower may, (i) on any Business Day prepay in full or in part any Portion of the Loan accruing interest at the Variable Rate, and (ii) on two (2) Business Day’s 's prior written notice prepay in full or in part any Portion of the Loan accruing interest at pursuant to the LIBOR a fixed rate option. Notwithstanding the foregoing, the Borrower’s 's right to prepay any amount accruing interest at pursuant to a fixed rate option (whether such payment is made voluntarily, as a result of an acceleration, or otherwise) shall be conditioned upon the payment of a prepayment Surcharge as defined and calculated belowbelow and shall be limited to prepayments in excess of $100,000. Unless otherwise agreed, all prepayments will be applied to principal installments in the inverse order of their maturity and to such Portions of the Loan as CoBank shall specify. For purposes of calculating the Surcharge provided for in this Section 6, early conversion of a Portion of the Loan accruing interest pursuant to the LIBOR a fixed rate option so that it accrues interest at a different rate pursuant to Section 4(A)(44(A)(5) hereof shall be deemed a prepayment in full of that Portion of the Loan. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to a fixed rate option, and as a condition to any voluntary prepayment, the Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge (“Surcharge”"SURCHARGE") in an amount equal to the greater of (a) the sum of: (i) the present value of any funding losses incurred or imputed by CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR Rate or Quoted Rate; plus (ii) 1/2 of 1 percent (0.50%) of the amount prepaid or converted for the period such amount was scheduled to have been outstanding at a Quoted Rate and (b) $300. Such Surcharge, including the amount of any funding losses incurred by CoBank, shall be determined and calculated in accordance with methodology established by CoBank.

Prepayment and Surcharge. The Borrower Borrowers may, (i) on any one Business Day Day's prior written notice, prepay in full or in part any Portion of the Loan accruing interest at the a Variable RateRate and, and (ii) may, on two (2) Business Day’s Days' prior written notice notice, prepay in full or in part any Portion of the Loan accruing interest at pursuant to either of the LIBOR optionfixed rate options described in Sections 5(A)(2) or 5(A)(3). Notwithstanding the foregoing, the Borrower’s Borrowers' right to prepay any amount accruing interest at pursuant to a fixed rate option Quoted Rate (whether such payment is made voluntarily, as a result of an acceleration, or otherwise) shall be conditioned upon the payment of a prepayment Surcharge as defined and calculated below and the Borrowers right to prepay any amount accruing interest at a LIBOR Option rate (whether such payment is made voluntarily, as a result of an acceleration or otherwise) shall be conditioned upon the payment of a LIBOR Surcharge as defined and calculated below. Unless otherwise agreed, all prepayments will be applied to principal installments on a pro rata basis and to such Portions of the Loan as CoBank shall specify. For purposes of calculating the Surcharge and LIBOR Surcharge provided for in this Section 6, early conversion of a Portion of the Loan accruing interest pursuant to the a Quoted Rate or a LIBOR option Option rate so that it accrues interest at a different rate pursuant to Section 4(A)(45(A)(4) hereof shall be deemed a prepayment in full of that Portion portion of the Loan. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to a fixed rate optionQuoted Rate, and as a condition to any voluntary prepayment, the Borrower Borrowers shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge (“"Surcharge”") in an amount equal to the greater of sum of: (a) the present value of any funding losses incurred or imputed by CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR and Quoted Rate; plus (b) $300. Such Surcharge, including 1/2 of 1 percent (0.50%) on the amount prepaid or converted. Upon any such early conversion or any prepayment of any Portion of the Loan accruing interest pursuant to the LIBOR Option rate, and as a condition to any voluntary prepayment, the Borrowers shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("LIBOR Surcharge") in an amount equal to the present value of any funding losses incurred or imputed by CoBank, CoBank to have been incurred as a result of such prepayment for the period such amount was scheduled to have been outstanding at such LIBOR Amended and Restated First Supplement/Globe/Interstate/Valley Loan No. ML0883T1 Option rate. Such Surcharge and such LIBOR Surcharge shall be determined and calculated in accordance with methodology established by CoBank which shall be customary for the industry and consistent with CoBank's past practice for calculating such surcharge.