Repayment Upon Default. Where a Faculty Member defaults under the written agreement noted in clause 20.12 (h) for any reason (other than illness, death or physical or mental disability) or terminates or violates the provisions upon which the Leave was approved, the Faculty Member shall, immediately upon the occurrence of such default or violation, pay to the College an amount of monies equal to the total amount (TA) of all salary and other monies received by the Faculty Member from the College or paid by the College on behalf of or for the benefit of the Faculty Member during the period of the Leave.
Repayment Upon Default. If all or any part of the principal amount of this Note is prepaid upon acceleration of the Loan following the occurrence of an Event of Default prior to the Open Date, then, in addition to such principal payment, Maker shall be required to make such payments (the “Yield Maintenance Payments”) in an amount equal to the excess, if any, of (i) the sum of (A) the aggregate respective present values of all scheduled interest payments payable on each Monthly Payment Date in respect of this Note (or the portion of all such interest payments corresponding to the portion of the principal of this Note to be prepaid upon acceleration) for the period from the date of such prepayment upon acceleration to the Open Date, discounted monthly at a rate equal to the Treasury Constant Maturity Yield Index and based on a 360-day year of twelve 30-day months and (B) the aggregate respective present values of all scheduled principal payments payable on each Monthly Payment Date in respect of this Note (or the then unpaid portion thereof to be prepaid upon acceleration) assuming the then outstanding principal balance of this Note is paid in full on the Open Date, discounted monthly at a rate equal to the Treasury Constant Maturity Yield Index and based on a 360-day year of twelve 30-day months minus (ii) the then current outstanding principal amount of this Note (or the then unpaid portion thereof to be prepaid upon acceleration). The Yield Maintenance Payments to be paid in connection with any prepayment under this Section 8 shall be determined in good faith by Payee and shall be conclusive and binding on Maker (absent manifest error). For purposes of this Section 8, the amount of this Note (or the portion of the principal of this Note to be prepaid upon acceleration) on the date of prepayment shall be determined after giving effect to any payment of scheduled amortization made on such date. For purposes hereof, “Treasury Constant Maturity Yield Index” shall mean the average yield for “This Week” as reported by the Federal Reserve Board in Federal Reserve Statistical Release H.15(519) (“FRB Release”) published during the second full week preceding the prepayment date (caused by acceleration of the Loan following the occurrence of an Event of Default) for instruments having a maturity coterminous with the remaining term of this Note. In the event the FRB Release is no longer published, Payee shall select a comparable publication to determine the Treasury Constant Maturity Yield ...
Repayment Upon Default. If all or any part of the principal amount of the Loan is prepaid upon acceleration of the Loan following the occurrence of an Event of Default, Borrowers shall be obligated to pay all amounts that would be payable in connection with a Prepayment under Section 2.4.2A, including all accrued and unpaid interest on the principal balance of the Note through the date that is the final day of the applicable Interest Accrual Period or, if prohibited by law, through the date of repayment plus Breakage Costs (including interest owed at the Default Rate), the Acceleration Prepayment Premium (if such prepayment is made during the Lockout Period), all other sums then due under the Note, this Agreement, the Pledge and the other Loan Documents, and all costs and expenses of Lender incurred in connection with such Event of Default, including reasonable attorneys’ fees and disbursements.
Repayment Upon Default. If an Event of Default occurs under this Agreement, the Recipient shall refund the total Educational Expenses provided by the School Board. Recipient authorizes the School Board to deduct the amount of any Educational Expenses required to be refunded under this section from any compensation owed to Recipient, including but not limited to salary, wages, bonuses, or vacation pay.
Repayment Upon Default. A. I agree that I shall be in “Default” of this Agreement if any of the following occurs:
1. I fail to meet any condition, requirement, or obligation described in the Agreement, or
Repayment Upon Default. Upon the occurrence of an Event of Default, the entire amount of the Loans, together with any applicable interest, will become immediately due and payable.
Repayment Upon Default. 31 2.3.5 Repayment After Casualty or Condemnation . 31 Section 2.4 Release of the Mortgaged Properties. . . . 32 2.4.1 Release of the Mortgaged Property. . . . . 32 2.4.2
Repayment Upon Default. 45 2.3.5 Limited Right of Prepayment................................................................ 45 2.3.6 Mandatory Prepayment upon Title Defect or Survey Defect.................................... 45 Section 2.4 Release of the Property.................................................................... 45 2.4.1 Release of All the Properties.............................................................. 46 2.4.2 Release of Individual Properties........................................................... 46 2.4.3 Release on Payment in Full................................................................. 48 2.4.4 Further Assurances......................................................................... 48 Section 2.5 Payments and Computations.................................................................. 49 2.5.1 Making of Payments......................................................................... 49 2.5.2 Computations............................................................................... 49 2.5.3 Loan Account and Computer Access to Collateral Accounts.................................... 49 Section 2.6
Repayment Upon Default. A. I agree that I shall be in “default’ on this Agreement if any of the following occurs:
1. Failure to meet any condition, requirement or obligation described in this Agreement, or
2. During the application stage, during my pursuit of the degree required by the Agreement, and during any time I am fulfilling the requirements of this Agreement, I engage in any conduct which is a felony or other serious criminal act or which involves fraud or false representation.
B. I agree that a Default will cause the King•Xxxxxx•Parks (KCP) Initiative Fellowship Award to become a King•Xxxxxx•Parks Initiative Loan (KCP Loan). My KCP Fellowship Award amount to date will become the principal due under the KCP loan. I promise to pay the KCP Initiative the full amount of the KCP loan, plus interest. The interest will begin to accrue from the date of the Default. The interest will be fixed at the rate in effect on the date of default as declared by the Michigan Department of Treasury pursuant to MCL 205.23. The interest will be compounded annually. I will also owe late charges if I do not repay the KCP loan within the time I agree to do so under the Disclosure and Repayment Schedule, or, if applicable, within the other times provided for within this Agreement.
C. I may agree in writing to pay the KCP Loan according to a Repayment Schedule prepared by the KCP Initiative. However, if I do not make such an agreement but pay the total amount of the KCP Loan plus all interest and other charges within 365 days from the date of the Default, the KCP Initiative may waive or remit to me any interest or late charges that were assessed or collected.
D. I understand that any Repayment Schedule for the KCP Loan will require that the KCP Loan, plus the interest and other charges be fully paid within ten (10) years of the date of Default. The minimum monthly payment shall be at least one hundred dollars ($100) per month.
Repayment Upon Default. If all or any part of the principal amount of the Loan is prepaid upon acceleration of the Loan following the occurrence of an Event of Default, Borrower shall be obligated to pay all accrued and unpaid interest on the principal balance of the Notes to the date of repayment (including interest owed at the Default Rate), all other sums then due under the Notes, this Agreement (including any Breakage Costs, if applicable), the Mortgage and the other Loan Documents, and all costs and expenses of Agent and any Lender incurred in connection with such Event of Default including reasonable attorneys0 fees and disbursements.
