Prepayment Charge. Each Mortgage Loan that is subject to a prepayment penalty as provided in the related Mortgage Note is identified on the Mortgage Loan Schedule. With respect to Mortgage Loans originated prior to October 1, 2002, no such Prepayment Charge may be imposed for a term in excess of five (5) years following origination. With respect to Mortgage Loans originated on or after October 1, 2002, no such Prepayment Charge may be imposed for a term in excess of three (3) years following origination;
Prepayment Charge. None of the Mortgage Loans has a Prepayment Premium period at origination in excess of three years;
Prepayment Charge. With respect to any Mortgage Loan that contains a provision permitting imposition of a Prepayment Charge upon a Principal Prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such Prepayment Charge in exchange for a monetary benefit, including but not limited to a Mortgage Interest Rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of applying for a Mortgage Loan that did not require payment of a Prepayment Charge, (iii) the Prepayment Charge is disclosed to the Mortgagor in the Mortgage Loan Documents pursuant to applicable state and federal law, and (iv) notwithstanding any state or federal law to the contrary, the Company shall not impose such Prepayment Charge in any instance when the Mortgage debt is accelerated as the result of the Mortgagor's default in making the Monthly Payments;
Prepayment Charge. This is a charge that you may have to pay if you're prepaying all or part of what is owed.
Prepayment Charge. Borrower agrees that the Prepayment Charge is a reasonable calculation of Lender’s lost profits in view of the difficulties and impracticality of determining actual damages resulting from an early repayment of the Term Loan. In addition, Borrower agrees that such Prepayment Charge shall be payable if any portion of the Term Loan is repaid (whether as a result of acceleration, whether voluntarily or involuntarily mandatory repayments or otherwise) but not on account of any prepayment arising under Sections 2.6(d) or 2.6(g) hereof.
Prepayment Charge. Borrower shall have the right, at its election, to prepay the Term Loan as a whole at any time, or in part from time to time, provided Borrower pays ORIX at the time of such prepayment (whether such prepayment is made voluntary or upon acceleration) the following prepayment charge: (i) 2% of the principal amount prepaid on or prior to July , 2010; and (ii) 1% of the principal amount prepaid at any time thereafter.
Prepayment Charge. Borrower will be required to pay a Prepayment charge in connection with certain prepayments of the Indebtedness, including a payment made after Xxxxxx’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.
Prepayment Charge. (i) Except as provided in Section 4(b)(ii), Borrower must pay the Prepayment Charge specified in Section 1 in connection with any Prepayment under this Note, whether voluntary or involuntary or resulting from a default by Borrower.
(ii) Notwithstanding Section 4(b)(i), no Prepayment Charge will be payable with respect to any of the following: Any Prepayment made during the Window Period (as defined on Schedule 1). Any Prepayment occurring as a result of the application of any Insurance proceeds. Any Prepayment occurring as a result of the application of any Condemnation award, or otherwise required under the terms of the Loan Agreement in connection with a Condemnation, unless (A) the Condemnation is intended to result in the continued use of the Mortgaged Property subject to the Condemnation for residential purposes, or (B) applicable law expressly requires or permits that the condemning authority or acquiring entity reimburse prepayment charges incurred in connection with a prepayment occurring as a result of a Condemnation; in either of the situations described in (A) or (B) above, a Prepayment Charge will be due to the extent permitted by applicable law.
Prepayment Charge. Concurrently with prepayment pursuant to Section 2.6(a) or (b), the Borrowers shall pay a charge equal to one calendar year’s interest at the Term Loan Interest Rate, calculated as of the date that is three days prior to the date of prepayment (a “Prepayment Charge”). The Borrowers agree that the Prepayment Charge is a reasonable calculation of the Lender’s lost profits in view of the difficulties and impracticality of determining actual damages resulting from an early repayment of the Loan. The Prepayment Charge shall be due whether or not such prepayment occurred before or after an Event of Default has occurred or is continuing, whether or not there has been an acceleration of the maturity of the Loan, before or after the commencement of an insolvency proceeding, and if the Loan become due and payable as a result of the acceleration of the maturity thereof in connection with an Event of Default or in connection with a voluntary or involuntary proceeding under any bankruptcy, insolvency, examinership, receivership or similar law, an amount equal to the Prepayment Charge with respect to the Loan then outstanding shall become immediately due and payable.
Prepayment Charge. Each Mortgage Loan that is subject to a prepayment penalty as provided in the related Mortgage Note is identified on the Mortgage Loan Schedule. With respect to each Mortgage Loan that has a Prepayment Charge feature, each such Prepayment Penalty is enforceable and each Prepayment Charge is permitted pursuant to federal, state and local law. Each such Prepayment Charge is in an amount not more than the maximum amount permitted under applicable law and no such Prepayment Charge may provide for a term in excess of five (5) years with respect to Mortgage Loans originated prior to October 1, 2002. With respect to Mortgage Loans originated on or after October 1, 2002, the duration of the Prepayment Charge period shall not exceed three (3) years from the date of the Mortgage Note unless the Mortgage Loan was modified to reduce the Prepayment Charge period to no more than three (3) years from the date of the related Mortgage Note and the Mortgagor was notified in writing of such reduction in Prepayment Charge period. This representation and warranty is a Deemed Material and Adverse Representation.;
