Common use of Prepayments After Default Clause in Contracts

Prepayments After Default. If, following the occurrence and during the continuance of an Event of Default, payment of all or any part of the Debt is tendered by Borrower or any other Person and accepted by Lender or otherwise recovered by Lender (including through application of any Reserve Funds), Borrower shall pay to Lender, in addition to the outstanding principal balance, (a) all accrued and unpaid interest at the Default Rate (including, without limitation, (i) in the event that such prepayment is received on a Payment Date or on any date in any Interest Period prior to a Payment Date, interest accruing (at the Default Rate) on such amount calculated through and including the end of the Interest Period in which such payment occurs, or (ii) in the event that such prepayment is received on a date after a Payment Date up to (and including) the last day of the Interest Period in which such Payment Date occurs, interest accruing (at the Default Rate) on such amount calculated through and including the end of the Interest Period in which the next Payment Date occurs, (b) the Spread Maintenance Premium, if such prepayment is made prior to the Spread Maintenance Outside Date, and (c) any and all other amounts payable under the Loan Documents. Any payment under this Section 2.4.3 shall be applied in such order, priority and proportions as Lender may direct in its sole and absolute discretion.

Prepayments After Default. If, following the occurrence and during the continuance of an Event of Default, payment of all or any part of the Debt is tendered by Borrower or any other Person and accepted by Lender or otherwise recovered by Lender (including through application of any Reserve Funds), Borrower shall pay to Lender, in addition to the outstanding principal balance, (a) all accrued and unpaid interest at the Default Rate (including, without limitation, (i) in the event that such prepayment is received on a Payment Date or on any date in any Interest Period prior to a Payment Date, interest accruing (at the Default Rate) on such amount calculated through and including the end of the Interest Period in which such payment occurs, or (ii) in the event that such prepayment is received on a date after a Payment Date up to (and including) the last day of the Interest Period in which such Payment Date occurs, interest accruing (at the Default Rate) on such amount calculated through and including the end of the Interest Period in which the next Payment Date occurs, (b) the Spread Maintenance Premium, if such prepayment is made prior to the Spread Maintenance Outside Date), and (cb) any and all other amounts payable under the Loan Documents. Any payment under this Section 2.4.3 2.4.4 shall be applied in such order, priority and proportions as Lender may direct in its sole and absolute discretion.

Prepayments After Default. If, following the occurrence and during the continuance of If after an Event of Default, payment of all or any part of the Debt principal of the Loan is tendered by Borrower prior to the Permitted Prepayment Date, a purchaser at foreclosure or any other Person, such tender shall be deemed an attempt to circumvent the prohibition against prepayment set forth in Section 2.4.1 and Borrower, such purchaser at foreclosure or other Person and accepted by Lender or otherwise recovered by Lender (including through application of any Reserve Funds), Borrower shall pay to Lenderthe Spread Maintenance Premium, in addition to the outstanding principal balance, (a) all accrued and unpaid interest at the Default Rate (including, without limitation, (ia) in the event that such prepayment is received on or before a Payment Date or on any date in any Interest Period prior to a Monthly Payment Date, interest accruing (at the Default Rate) on such amount calculated through and including the end of the Interest Period in which such payment Monthly Payment Date occurs, or (iib) in the event that such prepayment is received on a date after a Monthly Payment Date up to (and including) the last day of the Interest Period in which such Payment Date occursDate, interest accruing (at the Default Rate) on such amount calculated through and including the end of the Interest Period in which the next Monthly Payment Date occurs), a prepayment fee equal to one percent (b1%) of the Spread Maintenance Premiumamount of principal being repaid, if such prepayment is made prior to the Spread Maintenance Outside Date, Breakage Costs and (c) any and all other amounts payable under the Loan Documents. Any payment under this Section 2.4.3 The full amount of any such prepayment shall be applied by Lender toward the payment of interest and/or principal of any of the Components and/or any other amounts due under the Loan Documents in such order, priority and proportions as Lender may direct in its sole and absolute discretiondiscretion shall deem proper.

Prepayments After Default. If, following the occurrence an Event of Default and during the continuance of an Event of Defaultcontinuation thereof, payment of all or any part of the Debt is tendered by Borrower or any other Person and accepted by Lender or otherwise recovered by Lender (including including, without limitation, through application of any Reserve Funds), Borrower such tender or recovery shall pay to Lender, in addition to the outstanding principal balance, (a) all accrued and unpaid include interest at the Default Rate (including, without limitation, (i) in on the event that such prepayment is received on a Payment Date outstanding principal amount of the Debt being tendered or on any date in any Interest Period prior to a Payment Date, interest accruing (at recovered through the Default Rate) on such amount calculated through and including the end last calendar day of the Interest Period in within which such payment occurstender or recovery occurs and (b) be deemed a voluntary prepayment by Borrower and shall include (i) if such tender or recovery occurs on or prior to the Initial Maturity Date, or an amount equal to the applicable Prepayment Spread Maintenance Payment and the Exit Fee, (ii) in if such tender or recovery occurs on or prior to the event that such prepayment is received Prepayment Release Date, an amount equal to the applicable Prepayment Spread Maintenance Payment and the Exit Fee, and (iii) all interest which would have accrued on a date after a Payment Date up the amount of the Loan to (be paid through and including) including the last day of the Interest Period in which such immediately preceding the Payment Date occursnext occurring following the date of such prepayment, interest accruing (at the Default Rate) or, if such prepayment occurs on such amount calculated a Payment Date, through and including the end last day of the Interest Period in which the next immediately preceding such Payment Date occurs, (b) the Spread Maintenance Premium, if such prepayment is made prior to the Spread Maintenance Outside Date, and (c) any and all other amounts payable under the Loan Documents. Any payment under this Section 2.4.3 shall be applied in such order, priority and proportions as Lender may direct in its sole and absolute discretion.