Term; Prepayment Fees Clause Samples

Term; Prepayment Fees. (a) Unless due and payable sooner pursuant to this Agreement, all principal, interest and other sums due under the Loan Documents, and all other Obligations, shall be due and payable in full on the Maturity Date. Unless sooner terminated pursuant to this Agreement, all obligations of Lender to make any advances in respect of Credit Facilities shall terminate ten (10) days prior to the Maturity Date. (i) If prior to any Lockout Expiration Date defined in Sections 2.3 Borrower shall tender payment of an amount sufficient to satisfy all (or any portion) of any Credit Facility described in Section 2.3, if there shall occur any default beyond any applicable notice and/or grace period hereunder prior to any Lockout Expiration Date, then Borrower shall pay, in addition to the amounts payable hereunder and under the other Loan Documents, a prepayment fee in an amount equal to one percent (1.0%) of the amount prepaid plus the greater of (A) the sum of the Required Yield Maintenance Amounts for each Credit Facility or (B) the sum of the Applicable Termination Amounts for each Credit Facility. For purposes hereof, “Required Yield Maintenance Amount” shall mean an amount (in any event not less than zero) equal to the present value as of the date of prepayment of the remaining scheduled (or estimated as set forth below for revolving credit facilities) payments of principal and interest (assuming a constant Applicable Base Rate equal to the Applicable Base Rate in effect on the date of prepayment) from the date of prepayment through the Maturity Date (including an amount equal to the outstanding principal balance of the Obligations on the Maturity Date) determined by discounting such payments at the Discount Rate (as hereinafter defined) less the amount of principal being prepaid. For purposes of calculating, pursuant to the preceding sentence, scheduled payments of principal and interest and the final principal amount prepaid under any Credit Facility which is a revolving credit facility, Lender shall calculate the average principal amount outstanding under such Credit Facility during the six (6) months preceding prepayment, and shall assume that such amount shall have remained outstanding as principal through the Maturity Date, with no principal payments, that interest shall have accrued thereon at the applicable rate hereunder and that such amount is the principal amount prepaid. The “Discount Rate” is the rate which, when compounded monthly, is equivalent to the Tre...