Yield Maintenance. If (i) all or any part of the principal amount of the Loan is prepaid after the Closing Date but prior to the last day of the Defeasance Period as a result of the acceleration of the maturity of the Mortgage Note after an Event of Default, Maker shall be required to pay a Yield Maintenance Payment equal to the greater of (A) 1% of the amount of the principal prepayment that is to be applied to the outstanding principal balance hereof and (B) the present value as of the end of the applicable Debt Service Period, discounted at the Reinvestment Yield, of a series of payments each equal to the Payment Differential on each of the remaining Due Dates prior to and including the Anticipated Repayment Date, after giving effect to the regularly scheduled payment of principal that is to be made on the Prepayment Date. No Yield Maintenance Payment shall be required in connection with prepayments made on or after the last day of the Defeasance Period. Promptly following acceleration of this Mortgage Note or following the occurrence of any other event, the occurrence of which obligates Maker to make a Yield Maintenance Payment, Holder shall notify Maker of the amount and basis of determination of the Yield Maintenance Payment promptly upon determining the Treasury Rate, as contemplated below. Absent manifest error, Maker shall not dispute Holdxx'x xalculations hereunder. For purposes of this SECTION 1.3, the following terms shall have the meanings ascribed to them below:
Yield Maintenance. The Borrower shall pay to the Bank, upon request of the Bank, such amount or amounts as shall be sufficient (in the reasonable opinion of the Bank) to compensate it for any loss, cost, or expense incurred as a result of: (i) any payment of a LIBOR Loan on a date other than the last day of the Interest Period for such Loan; (ii) any failure by Borrower to borrow a LIBOR Loan on the date specified by Borrower's written notice; (iii) any failure of Borrower to pay a LIBOR Loan on the date for payment specified in Borrower's written notice. Without limiting the foregoing, Borrower shall pay to 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 term chosen pursuant to the Fixed Rate Election as to which the prepayment is made, shall be subtracted from LIBOR in effect at the time of prepayment. 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 term chosen pursuant to the Fixed Rate Election as to which the prepayment is made. Said amount shall be reduced to present value calculated by using the above referenced United States Treasury securities rate and the number of days remaining in the term chosen pursuant to the Fixed Rate Election as to which prepayment is made. The resulting amount shall be the yield maintenance fee due to Bank upon the payment of a LIBOR Loan. Each reference in this paragraph to "
Yield Maintenance. If any prepayment of all or any portion of the Components of the Loan shall occur, then except as provided in clause (A) above or as otherwise expressly provided in this Loan Agreement or the other Loan Documents to the contrary, the Borrowers shall pay the Yield Maintenance on each Component (or portion thereof) being prepaid to Lender together with such prepayment, as liquidated damages (which shall be the sole and exclusive remedy of Lender in connection with such prepayment) and compensation for costs incurred, and in addition to all other amounts due and owing to Lender. “Yield Maintenance” for each Component has the meaning set forth in the Loan Agreement Supplement relating to such Component.
Yield Maintenance. AccountOn or prior to the Closing Date, the Trustee shall cause to be established and maintained the Yield Maintenance Account, into which amounts received by the Trustee from the Cap Counterparty pursuant to the Yield Maintenance Agreements shall be deposited for the benefit of the Class CA-1B and Class CA-1C Certificates. On each Distribution Date, the Trustee shall withdraw from the Yield Maintenance Account to the extent funds are available therein and in accordance with the statement received from the Servicer pursuant to Section 4.02(b), the Yield Maintenance Payment Amounts for the Class CA-1B and Class CA-1C Certificates for such Distribution Date, and deposit such amounts in the Certificate Account for payment to the related Class CA-1B and Class CA-1C Certificates pursuant to Section 4.05(a). Amounts on deposit in the Yield Maintenance Account shall not be invested and shall not be held in an interest-bearing account. The Trustee shall withdraw from the Yield Maintenance Account and pay to itself any amounts remaining in the Yield Maintenance Account after the Final Yield Maintenance Payment Date. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Yield Maintenance Account established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund shall be an outside reserve fund and not an asset of any REMIC, (ii) such fund shall be owned for federal tax purposes by the Trustee, and the Trustee shall report all amounts of income, deduction, gain or loss accruing therefrom, and (iii) amounts transferred by the REMIC to the fund shall be treated as distributed by the REMIC to the Trustee. The Servicer shall deliver to the Trustee an annual statement showing (x) the amounts received by the Trustee, in its capacity as owner of the Yield Maintenance Account for income tax purposes, as payments on the Yield Maintenance Agreements, and (y) the amounts paid to Certificateholders from such amounts received. The Servicer shall indemnify the institution acting as Trustee, both in its individual capacity and as Trustee, to the extent that any tax liability of the Trustee, in its capacity as owner of the Yield Maintenance Account for income tax purposes (including the amount of any tax liability resulting from the indemnity payment), exceeds the net funds (that is, the excess of the amount in clause (x) above over the amount in clause (y) above), if any, re...
Yield Maintenance. At such time as Borrower requests the first Fixed Advance, or, if prior in time, elects to convert all or a portion of the Variable Facility Commitment to a Fixed Facility Commitment, Borrower shall select yield maintenance with respect to Fixed Advances. Borrower shall notify Lender of such selection on the Advance Request for the first Fixed Advance or on the first Conversion Request, as applicable. The terms and conditions of yield maintenance are contained in the Fixed Facility Notes. The selection of Borrower as to yield maintenance made at the time of the first Advance Request for a Fixed Advance or the first Conversion Request shall apply to all Fixed Advances made pursuant to this Agreement.
Yield Maintenance. (a) Subject to the terms of the Subordination Agreement, to the extent that any Lender or Agent makes any claim for additional payments pursuant to the terms of Section 2.10 of the Senior Financing Agreement, Holder shall be entitled to receive any such additional payments to the extent such additional payments would be due to Holder if it were a Lender under the Senior Financing Agreement.
(b) If at any time on or prior to May 4, 2019, (i) (x) this Note is accelerated (or deemed accelerated), (y) the Issuer repays this Note (other than unasserted contingent obligation) in full in cash, or (z) the Issuer repays or is required to pay this Note in whole or in part, including, without limitation, as a voluntary or mandatory prepayment, as a result of an acceleration (including an automatic acceleration) of this Note after the occurrence of an Event of Default or upon the commencement of any proceeding pursuant to any Debtor Relief Law, or as a result of any refinancing of the Note, then on the effective date of such payment the Issuer shall pay to the Holder a prepayment premium equal to the greater of (i) 3.00% of the principal amount of this Note paid or required to be paid and (ii) the Lost Yield Revenue (as defined below) in respect of the principal amount of this Note paid or required to be paid.
Yield Maintenance. If at any time after the date hereof, and from time to time, any Bank determines that the adoption or modification of any applicable law, rule or regulation regarding taxation, such Bank's required levels of reserves, deposits, insurance or capital (including any allocation of capital requirements or conditions), or similar requirements, or any interpretation or administration thereof by any governmental authority, central bank or comparable agency charged with the interpretation, administration or compliance of such Bank with any of such requirements, has or would have the effect of (a) materially increasing such Bank's costs relating to the obligation hereunder, or (b) reducing the yield or rate of return of such Bank on the Obligation hereunder to a level below that which Bank could have achieved but for the adoption or modification of any such requirements, Company shall, within fifteen (15) days of any request by any such Bank, pay to Bank such additional amounts as (in the Bank's sole judgment, after good faith and reasonable computation) will compensate Bank. No failure by a Bank to immediately demand payment of any additional amounts payable hereunder shall constitute a waiver of Bank's right to demand payment of such amounts at any subsequent time. Nothing herein contained shall be construed or so operate as to require Company to pay any interest, fees, costs or charges greater than is permitted by applicable law.
Yield Maintenance. (a) Subject to the terms of the Subordination Agreement, to the extent that any Lender or Agent makes any claim for additional payments pursuant to the terms of Section 2.10 of the Senior Financing Agreement, Holder shall be entitled to receive any such additional payments to the extent such additional payments would be due to Holder if it were a Lender under the Senior Financing Agreement.
(b) Following an Additional Term Loan Rollover, if (x) this Note is accelerated (or deemed accelerated) while the Additional Term Loan remains outstanding, (y) the Issuer repays the Additional Term Loan in full in cash, or (z) the Issuer repays or is required to pay the Additional Term Loan in whole or in part, including, without limitation, as a voluntary or mandatory prepayment, as a result of an acceleration (including an automatic acceleration) of this Note after the occurrence of an Event of Default or upon the commencement of any proceeding pursuant to any Debtor Relief Law, or as a result of any refinancing of the Note, then on the effective date of such payment, the Issuer shall pay to the Holder a prepayment premium equal to (i) if such payment occurs on or prior to December 28, 2019, $400,000, (ii) if such payment occurs following December 28, 2019 and on or prior to December 28, 2020, $300,000 and (iii) if such payment occurs following December 28, 2020, $130,000.
Yield Maintenance. The CoPACE Financing Amount may not be prepaid, in whole or in part, without payment of a Pre-payment Premium based on the following schedule/formula: {Pre-payment within five years of the Repayment Start Date 5%} {Pre-payment after five years of the Repayment Start Date but within ten years of the Repayment Start Date 3%} {Pre-payment after ten years of the Repayment Start Date 0%} {or add Yield Maintenance or other agreed prepayment formula} Capital Provider Expenses: On the Closing Date, Property Owner shall reimburse Capital Provider {$________} for payment of its attorneys’ fees, title insurance premiums and expenses, recording costs, and other expenses associated with the Closing of the transaction described in the Agreement. The Capital Provider Expenses are included in the CoPACE Financing. Amounts payable to the District and County: On the Closing Date, Property Owner shall pay the following amounts to the District to reimburse the District for its expenses in connection with the Agreement, which amounts are included in the CoPACE Financing and described in the schedule attached to the Resolution: District Program Administration Fee: [$______.00] District Closing Expenses (payable to Land Title Guarantee Company): [$______.00] The CoPACE Financing shall also include annual administrative and collection fees to be paid by the Property Owner to the District and County in the specific amounts set forth in the Amortization Schedule attached hereto and as set forth in the Resolution, and included as part of the annual Assessment Payments. Failure to Close Fee: {[$1,000.00] district applicant deposit, credited at closing. } Upfront Reserves/Accounts: {Consider if any debt service reserves could be funded – for example, during construction.}
Yield Maintenance. In the event all or any portion of the Loans are prepaid or repaid at any time after November 21, 2011 and prior to the second anniversary of the Closing Date through voluntary or mandatory prepayments or repayments, each such prepayment or repayment will be made with a payment premium in an amount (the “Yield Maintenance Amount”) equal to the sum of (I) the present value of the interest rate described in Section 2.07 that would have been applicable to the Loan calculated as a rate per annum on the amount of principal on the Loan through the second anniversary of the Closing Date (computed on the basis of actual days elapsed over a year of 360 days and using a discount rate equal to the Treasury Rate as of such payment date plus 50 basis points) plus (II) a call premium equal to 1% of the amount of the Loan so paid.
