Common use of Prepayment Charge NOT a Penalty Clause in Contracts

Prepayment Charge NOT a Penalty. Borrower recognizes that any Prepayment, whether voluntary or involuntary or resulting from a default by Borrower, will result in Xxxxxx’s incurring loss, including reinvestment loss, additional expense and frustration or impairment of Xxxxxx’s ability to meet its commitments to third parties. Xxxxxxxx agrees to pay to Xxxxxx upon demand damages for the detriment caused by any Prepayment, and agrees that it is extremely difficult and impractical to ascertain the extent of such damages. Xxxxxxxx agrees that the formula for calculating the Prepayment Charge in this Note represents a reasonable estimate of the damages that Xxxxxx will incur because of a Prepayment. Xxxxxxxx further acknowledges that the Prepayment Charge set forth in this Note is a material part of the consideration for the Loan, and that the terms of this Note are in other respects more favorable to Borrower as a result of the Borrower’s voluntary agreement to the Prepayment Charge.

Prepayment Charge NOT a Penalty. Borrower recognizes that any Prepayment, whether voluntary or involuntary or resulting from a default by Borrower, will result in Xxxxxx’s Lender incurring loss, including reinvestment loss, additional expense and frustration or impairment of Xxxxxx’s ability to meet its commitments to third parties. Xxxxxxxx agrees to pay to Xxxxxx upon demand damages for the detriment caused by any Prepayment, Prepayment and agrees that it is extremely difficult and impractical to ascertain the extent of such damages. Xxxxxxxx agrees that the formula formulas for calculating the Prepayment Charge in this Note represents Loan Agreement represent a reasonable estimate of the damages that Xxxxxx will incur because of a Prepayment. Xxxxxxxx Borrower further acknowledges that the Lockout Period, if applicable, and Prepayment Charge set forth in this Note is a Loan Agreement are material part parts of the consideration for the Loan, and that the terms of this Note the Loan Documents are in other respects more favorable to Borrower as a result of the BorrowerXxxxxxxx’s voluntary agreement to the Lockout Period, if applicable, and Prepayment Charge.

Prepayment Charge NOT a Penalty. Borrower recognizes that any Prepayment, whether voluntary or involuntary or resulting from a default by Borrower, will result in Xxxxxx’s incurring loss, including reinvestment loss, additional expense and frustration or impairment of Xxxxxx’s ability to meet its commitments to third parties. Xxxxxxxx agrees to pay to Xxxxxx upon demand damages for the detriment caused by any Prepayment, and agrees that it is extremely difficult and impractical to ascertain the extent of such damages. Xxxxxxxx agrees that the formula for calculating the Prepayment Charge in this Note represents a reasonable estimate of the damages that Xxxxxx will incur because of a Prepayment. Xxxxxxxx Borrower further acknowledges that the Prepayment Charge and any Lockout Period set forth in this Note is are a material part of the consideration for the Loan, and that the terms of this Note are in other respects more favorable to Borrower as a result of the Borrower’s voluntary agreement to the Prepayment ChargeCharge and the Lockout Period.