Common use of PREPAYMENT OF FIXED RATE LOANS Clause in Contracts

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 that date, such yield maintenance fee being due and payable at that date.

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 prepayment or mandatory repayment or 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 if for any reason any LIBOR Loan is converted to a Floating Rate Loan prior to the expiration of the relevant Interest Period or if for any reason all or any portion of any installment of the principal of any COF Loan is received by the Bank prior to the regularly scheduled due date for such installment or if there shall be any conversion pursuant to ss. 1.9thereof, 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 any installment of the a 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 to the regularly scheduled due date of the prepaid installment of the COP a COF 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 to the regularly scheduled due date of the prepaid installment of the a 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 that date, such yield maintenance fee being due and payable at that date.such

PREPAYMENT OF FIXED RATE LOANS. The following provisions of this ss.1.7 shall be effective only with respect to Fixed Rate Loans: As to any Fixed Rate Loan, the Borrower shall have the right (subject to the payment of the yield maintenance fee described below) to prepay such Fixed Rate Loan at any time in whole or in part; provided that any partial prepayment of any Fixed Rate Loan shall be in the amount of $500,000 or an integral multiple thereof. If, due to acceleration of the any Term Note or due to voluntary or mandatory repayment or 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 installment, or if there shall be for any conversion pursuant reason a Fixed Rate Loan is converted to ss. 1.9a Floating Rate Loan (except, as to a LIBOR Loan, at the end of the relevant Interest Period), 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 any installment of the COF Loan (as the case may beLoan) shall be subtracted from the "`cost of funds" ' component (i.e.being, for LIBOR Loans, reserve-adjusted LIBOR in the case of LIBOR Loans or the COF Rate in the case of COF LoansLIBOR) of the fixed rate in effect at the date of such prepayment or conversionprepayment. 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 or, in the case of prepayment of an installment of the COF Loan, days remaining until the regularly scheduled due date of the prepaid installment of the COP Loan, as the case may bethereof). Said amount shall be reduced to present value calculated by using the number of days remaining in the relevant Interest Period (or or, in the case of prepayment of an installment of the COF Loan, days remaining until the regularly scheduled due date of the prepaid installment of the COF Loan, as the case may bethereof) and by using the above-referenced United States Treasury securities security 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 that date, such yield maintenance fee being due and payable at that date."

PREPAYMENT OF FIXED RATE LOANS. The following provisions of this ss.1.7 Section 2(h) shall be effective only with respect to Fixed Rate Loans: As to any Fixed Rate Loan, the Borrowers shall have the right (subject to the payment of the yield maintenance fee described below) to prepay such Fixed Rate Loan at any time. If, due to acceleration of the any September 1998 Term Note or due to voluntary or mandatory repayment or 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 a COF Loan prior to the regularly scheduled due date for such installment or if there shall be any LIBOR Loan is converted to a COF Loan or to a Floating Rate Loan (which conversion will not in any event occur except pursuant to ss. 1.9the second paragraph of Section 2(e) above or pursuant to Section 2(j) below), the Borrower Borrowers shall, upon demand and receipt of a Bank Certificate from the Bank with respect thereto, pay (and shall be jointly and severally obligated to 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 (or, as to any prepayment of any installment of a COF Loan, the regularly scheduled due date of the affected installment of the COF Loan (as the case may beso prepaid) 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 for the relevant Fixed Rate Loan 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 or, as to any prepayment of any installment of a COF Loan, the number of days remaining until the regularly scheduled due date of the prepaid installment of the COP Loan, as the case may beso prepaid). Said amount shall be reduced to present value calculated by using the number of days remaining in the relevant Interest Period (or or, as to any prepayment of any installment of a COF Loan, the number of days remaining until the regularly scheduled due date of the prepaid installment of the COF Loan, as the case may beso prepaid) and by using the above-referenced United States Treasury securities security 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 Borrowers had exercised a right of prepayment at that date, such yield maintenance fee being due and payable at that date. As to the September 1998 Term Loans, the provisions of this Section 2(h) are in lieu of the last paragraph of Section 1.6 of the Letter Agreement.