Common use of Prepayment and Surcharge Clause in Contracts

Prepayment and Surcharge. The Borrowers may, on one Business Day's prior written notice, prepay in full or in part any Portion of the Loan accruing interest at a Variable Rate and, may, on two Business Days' prior written notice, prepay in full or in part any Portion of the Loan accruing interest at either of the fixed rate options described in Sections 5(A)(2) or 5(A)(3). Notwithstanding the foregoing, the Borrowers' right to prepay any amount accruing interest at a 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 a Quoted Rate or a LIBOR Option rate so that it accrues interest at a different rate pursuant to Section 5(A)(4) 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 Quoted 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 ("Surcharge") in an amount equal to the 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 Quoted Rate; plus (b) 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 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 Borrowers may, on one Business Day's prior written notice, prepay in full or in part any Portion of the Loan accruing interest at a Variable Rate and, may, on two Business Days' prior written notice, prepay in full or in part any Portion of the Loan accruing interest at either of the fixed rate options described in Sections 5(A)(2) or 5(A)(3). Notwithstanding the foregoing, the Borrowers' right to prepay any amount accruing interest at a 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 a Quoted Rate or a LIBOR Option rate so that it accrues interest at a different rate pursuant to Section 5(A)(4) 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 Quoted 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 ("Surcharge") in an amount equal to the 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 Quoted Rate; plus (b) 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 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. First Supplement/Globe/Interstate/Valley Loan No. ML0883T1.

Prepayment and Surcharge. The Borrowers Borrower may, (i) on one any Business Day's prior written notice, Day prepay in full or in part any Portion of the Loan accruing interest at a the Variable Rate andRate, may, and (ii) on two (2) Business Days' Day's prior written notice, notice prepay in full or in part any Portion of the Loan accruing interest at either of the pursuant to a fixed rate options described in Sections 5(A)(2) or 5(A)(3)option. Notwithstanding the foregoing, the Borrowers' Borrower's right to prepay any amount accruing interest at pursuant to a Quoted Rate 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 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 limited to prepayments in excess of a LIBOR Surcharge as defined and calculated below$100,000. Unless otherwise agreed, all prepayments will be applied to principal installments on a pro rata basis in the inverse order of their maturity 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 a Quoted Rate or a LIBOR Option fixed rate option so that it accrues interest at a different rate pursuant to Section 5(A)(44(A)(5) 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 Quoted Ratefixed rate option, and as a condition to any voluntary prepayment, the Borrowers Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("SurchargeSURCHARGE") in an amount equal to the greater of (a) the sum of: (ai) 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 (bii) 1/2 of 1 percent (0.50%) on of 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 to have been incurred as a result of such prepayment converted for the period such amount was scheduled to have been outstanding at such LIBOR Option ratea Quoted Rate and (b) $300. Such Surcharge and such LIBOR Surcharge Surcharge, including the amount of any funding losses incurred by CoBank, 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 Borrowers may, on one Business Day's prior written notice, prepay in full or in part any Portion of the Loan accruing interest at a Variable Rate and, may, on two Business Days' prior written notice, prepay in full or in part any Portion of the Loan accruing interest at either of the fixed rate options described in Sections 5(A)(2) or 5(A)(3). Notwithstanding the foregoing, the Borrowers' right to prepay any amount accruing interest at a 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 a Quoted Rate or a LIBOR Option rate so that it accrues interest at a different rate pursuant to Section 5(A)(4) 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 Quoted 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 ("Surcharge") in an amount equal to the 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 Quoted Rate; plus (b) 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 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 Borrowers Borrower may, (i) on one any Business Day's prior written notice, Day prepay in full or in part any Portion of the Loan accruing interest at a the Variable Rate andRate, may, and (ii) on two (2) Business Days' Day’s prior written notice, notice prepay in full or in part any Portion of the Loan accruing interest at either of pursuant to the fixed rate options described in Sections 5(A)(2) or 5(A)(3)LIBOR option. Notwithstanding the foregoing, the Borrowers' Borrower’s right to prepay any amount accruing interest at pursuant to a Quoted Rate 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 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 a Quoted Rate or a the LIBOR Option rate option so that it accrues interest at a different rate pursuant to Section 5(A)(44(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 Quoted Ratefixed rate option, and as a condition to any voluntary prepayment, the Borrowers Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("“Surcharge"”) in an amount equal to the sum of: 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 Quoted Rate; plus LIBOR and (b) 1/2 of 1 percent (0.50%) on $300. Such Surcharge, including 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 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 CoBank, 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 Borrowers Borrower may, (i) on one any Business Day's prior written notice, Day prepay in full or in part any Portion of the Loan accruing interest at a the Variable Rate andRate, may, and (ii) on two (2) Business Days' Day’s prior written notice, notice prepay in full or in part any Portion of the Loan accruing interest at either of pursuant to the fixed rate options described in Sections 5(A)(2) or 5(A)(3)LIBOR option. Notwithstanding the foregoing, the Borrowers' Borrower’s right to prepay any amount accruing interest at pursuant to a Quoted Rate 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 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 a Quoted Rate or a the LIBOR Option rate option so that it accrues interest at a different rate pursuant to Section 5(A)(44(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 Quoted Ratefixed rate option, and as a condition to any voluntary prepayment, the Borrowers Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("“Surcharge"”) in an amount equal to the sum of: 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 Quoted Rate; plus LIBOR and (b) 1/2 of 1 percent (0.50%) on $300. Such Surcharge, including 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 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 CoBank, shall be determined and calculated in accordance with methodology established by CoBank which shall be customary for CoBank. Amended and Restated Third Supplement to the industry Amended and consistent with CoBank's past practice for calculating such surcharge. First SupplementRestated Master Loan Agreement/Globe/Interstate/Warwick Valley Telephone Company Loan No. ML0883T1RX0886-S3(A)

Prepayment and Surcharge. The Borrowers Borrower may, (i) on one any Business Day's prior written notice, Day prepay in full or in part any Portion of the Loan accruing interest at a the Variable Rate andRate, may, and (ii) on two (2) Business Days' Day’s prior written notice, notice prepay in full or in part any Portion of the Loan accruing interest at either of pursuant to the fixed rate options described in Sections 5(A)(2) or 5(A)(3)LIBOR option. Notwithstanding the foregoing, the Borrowers' Borrower’s right to prepay any amount accruing interest at pursuant to a Quoted Rate 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 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 a Quoted Rate or a the LIBOR Option rate option so that it accrues interest at a different rate pursuant to Section 5(A)(44(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 Quoted Ratefixed rate option, and as a condition to any voluntary prepayment, the Borrowers Borrower shall pay to CoBank, on the date of such prepayment or early conversion, a surcharge ("“Surcharge"”) in an amount equal to the sum of: 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 Quoted Rate; plus LIBOR and (b) 1/2 of 1 percent (0.50%) on $300. Such Surcharge, including 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 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 CoBank, 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 SupplementSecond Supplement to Master Loan Agreement/Globe/Interstate/Warwick Valley Telephone Company Loan No. ML0883T1RX0886-S1