Prepayment Provision Sample Clauses

Prepayment Provision. It is agreed that the Note for the Georgetown Loan shall be modified to provide the following prepayment privilege: Upon ninety (90) days written notice to New York Life, Maker may prepay the Note in full on any monthly installment due date provided there is paid, in addition to interest accrued to the date of such prepayment, a prepayment fee equal to the difference between the Loan Interest Rate and the Yield on U.S. Treasury Notes for a term equal to the remaining original loan term times the outstanding principal balance of the Georgetown Loan at the time of such prepayment multiplied by the number of years and any fraction thereof on the loan term as if there had been no prepayment. In no event shall the prepayment fee be less than one percent (1%). The prepayment fee is to be computed on the unpaid principal balance at the time of such prepayment. In the event the outstanding principal balance hereof shall become due and payable as a result of (a) an Event of Default (as such term is defined in the Mortgage) causing the acceleration under this Note or the Loan Documents, which Event of Default shall be conclusively deemed to be a willful default for purposes of avoiding the prepayment fee to which Holder is entitled; (b) the exercise by Maker or any other party having the right to redeem or to prevent a foreclosure of the Secured Property of any right of redemption or repayment under foreclosure laws or other action to prevent a foreclosure of the Secured Property; (c) an acceleration by Holder as a result of the sale or further encumbrance of the Secured Property in violation of the applicable provisions of the Mortgage; or (d) a casualty or condemnation with respect to the Secured Property; then, in such event, Maker shall pay the prepayment fee and to the extent permitted by law, such prepayment fee shall be calculated in the same manner as specified above; provided that in the event such prepayment fee is construed to be interest under the laws of the State of South Carolina in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds the maximum interest that may be lawfully charged under the laws of the State of South Carolina.
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Prepayment Provision. The Mortgage Loan will be prepayable in whole or in part during its Term in accordance with the provisions of this paragraph. The Mortgage Loan will have a prepayment fee of ____% of the principal amount prepaid in loan years one and two and ____% of the principal amount prepaid in loan years three and four; provided, however, that there will be a right to prepay up to a portion of the principal of the Mortgage Loan equal to $100 million less the Sale Reduction Amount as of the Closing Date within the first nine (9) months of the Term, but in no event later than May 31, 2000, with a prepayment fee of ____% of the principal amount prepaid. No prepayment fee shall be payable in connection with (i) the payments required pursuant to the section hereof entitled "Amortization", (ii) involuntary prepayments due to casualty or condemnation or (iii) prepayments made to obtain an extension of the Term of the Mortgage Loan pursuant to the section hereof entitled "Extension Conditions". 225 EXHIBIT A Page 8 RELEASE: Borrower may obtain the release of a Property from the liens and security interests securing the Mortgage Loan in connection with a sale or refinancing of such Property, subject to the Prepayment Provision set forth above and subject to certain customary release provisions, including, but not limited to, the following:
Prepayment Provision. Borrower may prepay this Note in whole or in part at any time without premium or penalty. After the Conversion Date, upon making any prepayment of the principal in whole, Borrower shall pay to the Bank all interest and Expenses owing pursuant to this Note and remaining unpaid. After the Conversion Date, each partial prepayment of the Principal shall be applied in inverse order of maturity.
Prepayment Provision. The Note may be retired and repaid in part or in full prior to its normal maturity at any time without premium or penalty, provided, however, that such prepayment shall not serve to decrease or diminish the payments set forth in Section 2.02 above.
Prepayment Provision. A prepayment premium will be assessed on the current unpaid principal balance if this loan is paid in full prior to maturity as stated below: Year 1 5% Year 4 2% Year 2 4% Year 5 1% Year 3 3% Dated: July 27, 2001 ------------- Debtor: Meadow Valley Contractors, Inc. ---------------------------------------------- By: /s/ Xxxxxxx X. Xxxxxx Title: Vice President ----------------------- -------------- If Corporation, have signed by President, Vice President or Treasurer, and give official title. X.X. Xxx 00000 Xxxxxxx, XX 00000 ------------------------------------------------------- Mailing Address City State Zip Code Secured Party: FCC Equipment Financing, Inc. ---------------------------------------------------- Name of individual, corporation or partnership By:_________________________Title___________________ if Corporation, give official title. If owner or partner, state which. X.X. Xxx 00000 ---------------------------------------------------- Xxxxxxxxxxxx, Xxxxxxx 00000-0000 ---------------------------------------------------- If Debtor is partnership, enter: Partner's names Home Addresses --------------- --------------
Prepayment Provision. Borrower shall pay a prepayment premium equal to one percent (1.0%) of the amount prepaid for all prepayments hereunder, whether voluntary or involuntary (including prepayments arising from acceleration, condemnation, payment of insurance premiums, arising from an Event of Default or otherwise), made during the first five (5) years of the term of this Note. Thereafter there is no prepayment premium hereunder.
Prepayment Provision. Without limitation of the terms and conditions of the Loan Agreement, the prepayment provisions of section 2.6.1(a) and (b) of the Loan Agreement shall be deemed to continue to apply to prepayment prior to the Maturity Date, as amended by this Agreement, such that the lowest percentage set forth therein, the 1% amount of the portion of the Term Loan or Revolver Loan so prepaid, shall apply to the Borrower's prepayment of the Revolver Loan and the Term Loan after the date hereof and prior to the Maturity Date.
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Related to Prepayment Provision

  • Payment Prepayment All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty.

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Prepayment of Notes No prepayment of the Notes may be made except to the extent and in the manner expressly provided in this Agreement.

  • Waiver of Prepayment Penalty Amounts Except as provided below, the Servicer or any designee of the Servicer shall not waive any Prepayment Penalty Amount with respect to any Mortgage Loan. If the Servicer or its designee fails to collect a Prepayment Penalty Amount at the time of the related prepayment of any Mortgage Loan subject to such Prepayment Penalty Amount, the Servicer shall pay to the Trust Fund at such time (by deposit to the Custodial Account) an amount equal to the amount of the Prepayment Penalty Amount not collected; provided, however, the Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty Amount under this Section 3.19 if the failure to collect such amount is the result of inaccurate or incomplete information in the Prepayment Penalty Amount Schedule provided by the Seller and which is included as part of the Mortgage Loan Schedule attached hereto as Exhibit A. The Prepayment Penalty Amounts listed on the Prepayment Penalty Amount Schedule attached hereto as Exhibit A are complete, true and accurate and may be relied on by the Servicer in its calculation of Prepayment Penalty Amounts. If the Prepayment Penalty Amount data set forth on Exhibit A is incorrect, then the Servicer shall have no liability for any loss resulting from calculation of Prepayment Penalty Amounts using the data provided. Notwithstanding the above, the Servicer or its designee may waive a Prepayment Penalty Amount without paying to the Trust Fund the amount of such Prepayment Penalty Amount only if such Prepayment Penalty Amount (i) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loan, and such waiver, in the reasonable judgment of the Servicer would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge and the related Mortgage Loan, or (ii) relates to a prepayment charge the collection of which, if collected, would be a violation of applicable laws.

  • Prepayment Penalty Each Mortgage Loan that is subject to a Prepayment Penalty as provided in the related Mortgage Note is identified on the related Mortgage Loan Schedule. With respect to each Mortgage Loan that has a Prepayment Penalty feature, each such Prepayment Penalty is enforceable and will be enforced by the Seller during the period the Seller is acting as Interim Servicer for the benefit of the Purchaser, and each Prepayment Penalty is permitted pursuant to federal, state and local law. Each such Prepayment Penalty is in an amount not more than the maximum amount permitted under applicable law and no such Prepayment Penalty may be imposed 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 Penalty period shall not exceed three (3) years from the date of the Mortgage Note unless the Mortgage Loan was modified to reduce the Prepayment Penalty 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 Penalty period. With respect to any Mortgage Loan that contains a provision permitting imposition of a premium upon a prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such premium in exchange for a monetary benefit, including but not limited to a rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of obtaining a mortgage loan that did not require payment of such a premium, and (iii) the Prepayment Penalty is disclosed to the Mortgagor in the mortgage loan documents pursuant to applicable state, local and federal law. This representation and warranty is a Deemed Material and Adverse Representation;

  • Prepayment of the Notes In addition to the payment of the entire unpaid principal amount of the Notes at the final maturity thereof, the Company may make optional prepayments in respect of the Notes as hereinafter provided.

  • Waiver of Prepayment Penalties Except as provided below, the Servicer or any designee of the Servicer shall not waive any Prepayment Charge with respect to any Mortgage Loan. If the Servicer or its designee fails to collect a Prepayment Charge at the time of the related prepayment of any Mortgage Loan subject to such Prepayment Charge, the Servicer shall pay to the Trust Fund at such time (by deposit to the Trust Custodial Account) an amount equal to the amount of the Prepayment Charge not collected; provided, however, the Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Charge under this Section 3.19 if the failure to collect such amount is the result of inaccurate or incomplete information on the Prepayment Charge Schedule provided by LBH and which is included as part of the Mortgage Loan Schedule attached hereto as Exhibit A. Notwithstanding the above, the Servicer or its designee may waive (and shall waive, in the case of (iii) below) a Prepayment Charge without paying to the Trust Fund the amount of such Prepayment Charge only if the related prepayment is not the result of a refinancing by the Servicer or its designee and such waiver (i) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loans, and such waiver, in the reasonable judgment of the Servicer, would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge and the related Mortgage Loan, (ii) relates to a prepayment charge the collection of which, in the reasonable judgment of the Servicer, would be a violation of applicable laws or (iii) notwithstanding any state or federal law to the contrary, any Prepayment Charge in any instance when a Mortgage Loan is in foreclosure.

  • Repayment Prepayment and Cancellation 6 REPAYMENT

  • Payment of Prepayment Price Upon the Makers’ receipt of a Notice(s) of Prepayment at Option of Holder Upon Triggering Event or a Notice(s) of Prepayment at Option of Holder Upon Major Transaction from the Holder or the Other Holders, the Makers shall notify the Holder or such Other Holders, as the case may be, by facsimile of the Makers’ receipt of such Notice(s) of Prepayment at Option of Holder Upon Triggering Event or Notice(s) of Prepayment at Option of Holder Upon Major Transaction within two (2) business days of the Makers’ receipt of the same and the Holder and each Other Holder which has sent such a notice shall promptly thereafter submit to the Makers this Note (or certificates representing a portion of this Note if the Holder elects not to have all of the outstanding principal and accrued Interest hereunder prepaid) or the Other Notes (or certificates representing a portion of the Other Notes if the Other Holders elect not to have all of the outstanding principal and accrued Interest thereunder prepaid) which the Holder or Other Holders, as the case may be, have elected to have prepaid. The Makers shall deliver the applicable Triggering Event Prepayment Price to the Holder, within five (5) business days after the Makers’ receipt of this Note or the certificates related thereto, as the case may be, and, in the case of a prepayment pursuant to Section 3.7(h), the Makers shall deliver the applicable Major Transaction Prepayment Price immediately prior to the consummation of the Major Transaction; provided that the Holder’s original Note or the Other Holders’ original Other Notes, or the certificates related thereto, shall have been so delivered to the Makers; provided further that if the Makers are unable to prepay all of the Notes to be prepaid, the Makers shall prepay an amount to the Holder and each Other Holder of this Note and the Other Notes being prepaid equal to such holder’s pro-rata amount of all Notes being prepaid. If the Makers shall fail to prepay all of the Notes submitted for prepayment (other than pursuant to a dispute as to the arithmetic calculation of the Prepayment Price), in addition to any remedy such holder of the Notes may have under this Note and the Purchase Agreement, the applicable Prepayment Price payable in respect of such Notes not prepaid shall bear interest at the Default Rate until paid in full. Until the Makers pay such unpaid applicable Prepayment Price in full to a holder of the Notes submitted for prepayment, such holder shall have the option (the “Void Optional Prepayment Option”) to, in lieu of prepayment, require the Makers to promptly return to such holder(s) all of the Notes that were submitted for prepayment by such holder(s) under this Section 3.7 and for which the applicable Prepayment Price has not been paid, by sending written notice thereof to the Makers via facsimile (the “Void Optional Prepayment Notice”). Upon the Makers’ receipt of such Void Optional Prepayment Notice(s) and prior to payment of the full applicable Prepayment Price to such holder, (i) the Notice(s) of Prepayment at Option of Holder Upon Triggering Event or the Notice(s) of Prepayment at Option of Holder Upon Major Transaction, as the case may be, shall be null and void ab initio with respect to those Notes submitted for prepayment and for which the applicable Prepayment Price has not been paid, (ii) the Makers shall immediately return any such Notes submitted to the Makers by each holder for prepayment under this Section 3.7(j) and for which the applicable Prepayment Price has not been paid and (iii) [Intentionally omitted].

  • 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

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