PREPAYMENT OF FIXED RATE LOANS Sample Clauses

PREPAYMENT OF FIXED RATE LOANS. The following provisions of this ss.1.7 shall be effective only with respect to Fixed Rate Loans: If, due to acceleration of the Term Note or due to voluntary or mandatory prepayment or due to any other reason, the Bank receives payment of any principal of a LIBOR Loan on any date prior to the last day of the relevant Interest Period or receives payment of all or any portion of any installment of the COF Loan prior to the regularly scheduled due date for such installment or if there shall be any conversion pursuant to ss. 1.9, the Borrower shall, upon demand and receipt of a Bank Certificate from the Bank with respect thereto, pay forthwith to the Bank a yield maintenance fee in an amount computed as follows: The current rate for United States Treasury securities (bills on a discounted basis shall be converted to a bond equivalent) with a maturity date closest to the last day of the Interest Period applicable to the affected LIBOR Loan or to the regularly scheduled due date of the affected installment of the COF Loan (as the case may be) shall be subtracted from the "cost of funds" component (i.e., reserve-adjusted LIBOR in the case of LIBOR Loans or the COF Rate in the case of COF Loans) of the fixed rate in effect at the date of such prepayment or conversion. If the result is zero or a negative number, there shall be no yield maintenance fee. If the result is a positive number, then the resulting percentage shall be multiplied by the amount of the principal balance being prepaid. The resulting amount shall be divided by 360 and multiplied by the number of days remaining in the relevant Interest Period (or remaining until the regularly scheduled due date of the prepaid installment of the COP Loan, as the case may be). Said amount shall be reduced to present value calculated by using the number of days remaining in the relevant Interest Period (or remaining until the regularly scheduled due date of the prepaid installment of the COF Loan, as the case may be) and by using the above-referenced United States Treasury securities rate as the discount rate. The resulting amount shall be the yield maintenance fee due to the Bank upon prepayment or conversion of the applicable Fixed Rate Loan. Any acceleration of a Fixed Rate Loan due to an Event of Default will give rise to a yield maintenance fee calculated with the respect to such Fixed Rate Loan on the date of such acceleration in the same manner as though the Borrower had exercised a right of prepayment at th...
Sample 1See All (4)
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PREPAYMENT OF FIXED RATE LOANS. The following provisions of this [Section]1.7 shall be effective only with respect to Fixed Rate Loans: If, due to acceleration of the Term Note or due to voluntary prepayment or due to any other reason, the Bank receives payment of any principal of a LIBOR Loan on any date prior to the last day of the relevant Interest Period or receives payment of all or any portion of any installment of a COF Loan prior to the regularly scheduled due date for such installment, the Borrower shall, upon demand and receipt of a Bank Certificate from the Bank with respect thereto, pay forthwith to the Bank all amounts required to compensate the Bank for losses, costs or expenses which it may have incurred and may reasonably incur as a result of such payment, including, without limitation, any loss or expense incurred by reason of the liquidation or redeployment of funds acquired by the Bank to fund or maintain the relevant Fixed Rate Loan.
Sample 1
PREPAYMENT OF FIXED RATE LOANS. If Borrower prepays any Advance which has a fixed interest rate Borrower shall pay a prepayment premium. The prepayment premium shall be computed as follows: 1% of the amount prepaid if the amount prepaid is under $50,000, and if the amount prepaid is $50,000 or over, the result of [the present value of the remaining cash flows calculated at the interest rate on the Advance being prepaid discounted at the Treasury Constant Yield (TCY) + 100 basis points] minus the [principal amount being prepaid]. The TCY is calculated as the interpolated constant maturity Treasury rate with a maturity matching the remaining average life of the Advance being prepaid. Rate date is obtained, at the time of prepayment, from the most recent Federal Reserve H-15 Report using data from the most recent week ending column.
Sample 1
PREPAYMENT OF FIXED RATE LOANS. In connection with any prepayment, in whole or in part, of the Term Loan or the Second Term Loan which is then bearing interest at the Fixed Rate, Borrower shall pay to Bank as provided hereunder, a "Make Whole Premium Amount" if the "Reinvestment Yield" (as hereinafter defined) is less than Bank's matched cost for the Loan being prepaid. The "Make Whole Premium Amount" shall equal the positive difference between two sums determined by subtracting the second sum from the first sum, each sum representing the total cumulative present value of each payment of principal being prepaid. The first sum shall be calculated by discounting each such prepaid amount utilizing an interest factor equal to Bank's matched cost for the Loan being prepaid. The "Reinvestment Yield" shall be defined as the sum of the U.S. Treasury Rate for an issue with comparable average life to that portion of the Term Loan or the Second Term Loan being prepaid plus the corresponding swap spread as published in Bloomberg's Financial Markets Commodities News. In the absence of material error, a certificate from Bank specifying such losses, costs or expenses shall be conclusive and binding on all parties. The Term Loan and/or the Second Term Loan, as applicable, shall be conclusively deemed to have been funded on behalf of Bank in the manner specified by it in such calculations by the purchase of a matched fund deposit corresponding in amount and maturity to such Term Loan or Second Term Loan."
Sample 1
PREPAYMENT OF FIXED RATE LOANS. The following provisions of this Section 1.03(f) shall be effective only with respect to Fixed Rate Loans: If, due to acceleration of or demand with respect to any Loan or due to voluntary prepayment or due to exercise of rights and remedies against collateral or due to any other reason, the Lender receives payment of any principal of a Fixed Rate Loan on any date prior to the last day of the relevant Interest Period, the Borrowers shall, upon demand and receipt of a Bank Certificate from the Lender with respect thereto, pay (and shall be jointly and severally obligated to pay) forthwith to the Lender all amounts required to compensate the Lender for losses, costs or expenses which it may have incurred and may reasonably incur as a result of such payment, including, without limitation, any loss or expense incurred by reason of the liquidation or redeployment of funds acquired by the Lender to fund or maintain such Fixed Rate Loan.
Sample 1

Related to PREPAYMENT OF FIXED RATE LOANS

  • Application of Prepayments of Loans to Base Rate Loans and Eurodollar Rate Loans Considering each Class of Loans being prepaid separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by Borrower pursuant to Section 2.18(c).

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

  • Prepayment of Loans (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section.

  • Prepayment of Loan Section 10.1 Options to Prepay Loan 28 Section 10.2 Additional Option to Prepay Loan 29 Section 10.3 Obligations to Prepay Loan 29 Section 10.4 Notice of Prepayment; Redemption Procedures 31 Section 10.5 Relative Position of this Article and Indenture 31 Section 10.6 Concurrent Discharge of First Mortgage Bonds 31 ARTICLE XI

  • Prepayments of Loans Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Euro-Dollar Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Lenders included in such Borrowing.

  • Limitation on Prepayment of LIBOR Rate Loans The Borrower may not prepay any LIBOR Rate Loan on any day other than on the last day of the Interest Period applicable thereto unless such prepayment is accompanied by any amount required to be paid pursuant to Section 5.9 hereof.

  • Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.

  • Optional Prepayments of Loans The Borrower may prepay Loans, (i) upon at least two Business Days’ notice, in the case of Eurodollar Rate Revolving Loans, and (ii) upon notice not later than 12:00 noon (New York City Time) on the date of prepayment, in the case of Base Rate Revolving Loans, to the Administrative Agent stating the proposed date and aggregate principal amount of the prepayment, and, if such notice is given, the Borrower shall prepay the outstanding principal amount of the Loans comprising part of the same Borrowing in whole or ratably in part, without penalty, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal amount of $1,000,000 or an integral multiple of $100,000 in excess thereof and (y) in the event of any such prepayment of a Eurodollar Rate Loan, the Borrower shall be obligated to reimburse the Lenders in respect thereof pursuant to Section 8.04(c).

  • Reduction of Commitment Prepayment of Loans Section 2.05 of the Financing Agreement is hereby amended as follows:

  • Mandatory Prepayments of Loans If for any reason the Total Revolving Outstandings at any time exceed the Aggregate Revolving Commitments then in effect, the Borrower shall immediately prepay Revolving Loans and/or Swing Line Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(b)(i) unless after the prepayment in full of the Revolving Loans and Swing Line Loans the Total Revolving Outstandings exceed the Aggregate Revolving Commitments then in effect. All amounts required to be paid pursuant to this Section 2.05(b) shall be applied first, ratably to the L/C Borrowings and the Swing Line Loans, second, to the outstanding Revolving Loans, and, third, to Cash Collateralize the remaining L/C Obligations; and Within the parameters of the applications set forth above, prepayments shall be applied first to Base Rate Loans and then to Eurodollar Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied by interest on the principal amount prepaid through the date of prepayment.

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