Yield Maintenance Fee. If, at any time prior to the date which is the sixth month anniversary of the Closing Date (the “Six Month Anniversary”), the Borrowers elect to prepay any portion of the Loans and/or reduce or terminate the Aggregate Commitment pursuant to a Repricing Transaction, the Borrowers agree to pay to each Lender on the effective date of such prepayment or reduction or termination of the Aggregate Commitment, as applicable, a fee equal to (i) the sum of, without duplication, (x) the amount of such Lender’s Loans that are prepaid plus (y) the amount equal to the reduction in such Lender’s Commitment (or, in the case of termination of the Aggregate Commitment, the entire amount of such Lender’s Commitment) times (ii) (x) Applicable Margin times (y) the number of days remaining from the effective date of such prepayment, reduction or termination until the Six Month Anniversary over 360.
Yield Maintenance Fee. (i) Subject to clause (ii) below, in the event that (A) the Borrower makes any prepayment of Loans pursuant to Section 2.04(a), Section 2.04(b)(vi) or Section 2.04(b)(vii) or (B) the unpaid principal balance of any Loan is accelerated (whether by election or automatically) upon the occurrence of an Event of Default pursuant to Section 6.01 (including any acceleration upon the occurrence of an actual or deemed entry of an order for relief with respect to any Loan Party under the Bankruptcy Code or any other Bankruptcy Law, including, without limitation, upon the occurrence of an Event of Default pursuant to Section 6.01(f)), in each case during the Yield Maintenance Period (the principal amount of such prepayment or amount so accelerated being the “Prepayment Amount”), the Borrower shall pay to the Administrative Agent, for the ratable benefit of the Lenders, a Yield Maintenance Fee in an amount equal to the sum of the interest that would have been payable on the Prepayment Amount (in the absence of such prepayment or acceleration) at a rate per annum equal to the Applicable Margin (x) on all scheduled Interest Payment Dates falling after the date of prepayment or acceleration until the end of the Yield Maintenance Period and (y) if the last day of the Yield Maintenance Period is not an Interest Payment Date, on the last day of the Yield Maintenance Period.
(ii) Notwithstanding anything set forth in this Agreement, no Yield Maintenance Fee will be due during any time period that is not the Yield Maintenance Period; provided, however, that, in the event of an acceleration of the Facilities (whether by election or automatically) upon the occurrence of an Event of Default pursuant to Section 6.01 (including any acceleration upon the occurrence of an actual or deemed entry of an order for relief with respect to any Loan Party under the Bankruptcy Code or any other Bankruptcy Law, including, without limitation, upon the occurrence of an Event of Default pursuant to Section 6.01(f)), the Yield Maintenance Fee shall apply and shall be determined pursuant to clause (b)(i) above as if a prepayment occurred on the date of such acceleration.
Yield Maintenance Fee. If, at any time (i) the interest rate on any Loan is a fixed rate, and (ii) the Bank in its sole discretion should determine that current market conditions can accommodate a prepayment request, the Borrower shall have the right at any time and from time to time to prepay the Loan in whole (but not in part), and the Borrower shall pay to the 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 maturity date of the term chosen pursuant to the Fixed Rate Election as to which the prepayment is made, shall be subtracted from the "cost of funds" component of the fixed rate 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 the 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 number of days remaining in the designated term and using the above-referenced United States Treasury security rate and the number of days remaining in the term chosen pursuant to the Fixed Rate Election as to which the prepayment is made. The resulting amount shall be the yield maintenance fee due to the Bank upon prepayment of the fixed rate Loan. Each reference in this paragraph to "Fixed Rate Election" shall mean the election by Borrower pursuant to Section 2.11 hereof. If by reason of an Event of Default the Bank elects to declare such Loan to be immediately due and payable, then any yield maintenance fee with respect to
Yield Maintenance Fee. If the Borrower prepays or repays an Advance in accordance with Section 4.1 or a Reduction Action occurs in respect of an Advance, whether before or after (i) the occurrence of an Event of Default or (ii) the occurrence of any Event of Bankruptcy, and notwithstanding any acceleration (for any reason) of the Obligations, the Borrower shall pay the Yield Maintenance Fee with respect to such prepayment, repayment or Reduction Action, as applicable, and such Yield Maintenance Fee shall be due and payable. The Yield Maintenance Fee shall also be payable with respect to any prepayments or distributions made by the Borrower pursuant to Section 5.2(c). For avoidance of doubt, except as set forth in Section 4.1(a), no Yield Maintenance Fee shall be payable with respect to any payments or distributions made by or on behalf of the Borrower pursuant to Section 5.2(b). Notwithstanding anything herein to the contrary, the Yield Maintenance Fee shall be payable notwithstanding acceleration of the Obligations or the Maturity Date for any reason, including, without limitation, acceleration in accordance with Section 10.2 (including, without limitation, as a result of the occurrence of an Event of Bankruptcy).
Yield Maintenance Fee. If the Borrower prepays or repays an Advance in accordance with Section 4.1 (excluding any prepayment of a portion of the Fourth A&R 96324738v.8 Advance referenced in Section 4.1(e) so long as no Event of Default has occurred and is continuing on the date of such prepayment) or a Reduction Action occurs in respect of an Advance, whether before or after (i) the occurrence of an Event of Default or (ii) the occurrence of any Event of Bankruptcy, and notwithstanding any acceleration (for any reason) of the Obligations, the Borrower shall pay the Yield Maintenance Fee with respect to such prepayment, repayment or Reduction Action, as applicable, and such Yield Maintenance Fee shall be due and payable. The Yield Maintenance Fee shall also be payable with respect to any prepayments or distributions made by the Borrower pursuant to Section 5.2(c). For avoidance of doubt, except as set forth in Section 4.1(a), no Yield Maintenance Fee shall be payable with respect to any payments or distributions made by or on behalf of the Borrower pursuant to Section 5.2(b). Notwithstanding anything herein to the contrary, the Yield Maintenance Fee shall be payable notwithstanding acceleration of the Obligations or the Maturity Date for any reason, including, without limitation, acceleration in accordance with Section 10.2 (including, without limitation, as a result of the occurrence of an Event of Bankruptcy).
Yield Maintenance Fee. The Borrower will pay any Yield Maintenance Fee due in connection with any reduction of the Revolving Credit Commitments on the terms set forth in Section 2.08(b).
Yield Maintenance Fee. (i) Subject to clause (iii) below, upon any permanent reduction of the aggregate Revolving Credit Commitments pursuant to Section 2.05 or any termination of the aggregate Revolving Credit Commitments pursuant to Section 6.01 during the Yield Maintenance Period (the amount of such reduction being the "Commitment Reduction Amount" and the date when such reduction occurs being the "Commitment Reduction Date"), the Borrower shall pay to the Administrative Agent, for the ratable benefit of the Revolving Credit Lenders, a Yield Maintenance Fee in an amount equal to the Commitment Reduction Amount multiplied by the percentage set forth below opposite the period in which the Commitment Reduction Date occurs: Month Yield Maintenance Fee Percentage 11 April 2014 – 10 May 2014 5.86% 11 May 2014 – 10 June 2014 5.64% 11 June 2014 – 10 July 2014 5.43% 11 July 2014 – 10 August 2014 5.21% 11 August 2014 – 10 September 2014 4.99% 11 September 2014 – 10 October 2014 4.78% October 2014 – 10 November 2014 4.56% 11 November 2014 – 10 December 2014 4.34% 11 December 2014 – 10 January 2015 4.12% 11 January 2015 – 10 February 2015 3.91% 11 February 2015 – 10 March 2015 3.69% 11 March 2015 – 10 April 2015 3.47% 11 April 2015 – 10 May 2015 3.26%
Yield Maintenance Fee. Borrower will pay to Lender a Yield Maintenance Fee in an amount equal to:
(i) $7,500,000 less $2,250,000 of the Closing Fee, the Nonusage Fee, and interest income received by Lender prior to the Initial Yield Maintenance Date (as defined below) (the "Initial Yield Maintenance Fee") (the Initial Yield Maintenance Fee shall be payable upon the earliest of:
(A) October 31, 2004,
(B) if any Pledgee Lender has declared an event of default under its credit facility (a "Pledgee Event of Default") with the Lender or Lender has declared an Event of Default and either the Pledgee Event of Default or the Event of Default has not been cured within the applicable cure period, the last day of such cure period, and
(C) the date on which Lender has ceased funding all Approved Mortgage Originators under this Loan Agreement for 90 consecutive calendar days under circumstances in which Lender reasonably determines that such Approved Mortgage Originators have effectively ceased carrying on an active mortgage origination business (such earliest date, the "Initial Yield Maintenance Date"); provided, however, that any Initial Yield Maintenance Fee payable per clause (i)(B) above (but only to the extent that such Pledgee Event of Default relates to an event or condition other than the failure to pay money owed under the relevant facility) or clause (i)(C) above shall be credited against any interest income (other than default interest) and Nonusage Fees due and payable by Borrower under this Loan Agreement from the Initial Yield Maintenance Date through and including October 31, 2004, plus
(ii) if on September 1, 2004, any Pledgee Lender has any remaining obligation under its credit facility with Lender or such credit facility has been terminated by Lender on or prior to such date, $10,000,000 less the Initial Yield Maintenance Fee, $2,250,000 of the Closing Fee, the Nonusage Fee and interest income received by Lender prior to the Final Yield Maintenance Date payable on the earliest of:
(A) September 1, 2005,
(B) the date of termination of this Loan Agreement by Lender,
(C) if such Pledgee Lender has declared a Pledgee Event of Default under such credit facility or Lender has declared an Event of Default in writing and the Pledgee Event of Default or Event of Default has not been cured within the applicable cure period, the last day of such cure period if and only if the last day of such cure period falls on or after September 1, 2004, and
(D) the date following September 1, 200...
Yield Maintenance Fee. In the event that the Revolving Loans are prepaid and the aggregate Revolving Credit Commitments of the Lenders hereunder are reduced or terminated for any reason, including, without limitation, upon acceleration of the Obligations pursuant to Section 14.1 hereof, prior to the Revolving Credit Maturity Date, Borrowers shall pay to Agent, for the account of Lenders, a yield maintenance fee (the “Yield Maintenance Fee”), as follows:
(a) If on the Revolving Credit Termination Date the amounts that Borrower has theretofore paid to Lenders as interest on account of the Revolving Loans is less than the Minimum Interest, then Borrowers shall pay to Agent, for the account of Lenders, on the Revolving Loan Termination Date, a Yield Maintenance Fee equal to the difference between (x) the Minimum Interest, and (y) the aggregate amount of such interest and Unused Commitment Fees actually paid by Borrower.
(b) If in accordance with the terms and conditions hereof, the Revolving Credit Maturity Date is extended until February 8, 2016 and the amounts that Borrower has theretofore paid to Lenders during the period from February 8, 2015 to February 8, 2016 as interest on account of the Revolving Loans is less than the Minimum Interest for Extension, then Borrowers shall pay to Agent, for the account of Lenders, on the Revolving Loan Termination Date, a Yield Maintenance Fee equal to the difference between (x) the Minimum Interest for Extension, and (y) the aggregate amount of such interest and Unused Commitment Fees actually paid by Borrower.
Yield Maintenance Fee. Upon any prepayment in accordance with subparagraphs (a) or (b) of this Section 4.3, Borrower shall pay to Purchaser, upon the request of Purchaser, such amount or amounts as shall be sufficient (in the reasonable opinion of Purchaser) to compensate it for any loss, cost, or expense inured as a result of: (i) any payment of a LIBOR Loan or Tax-Exempt 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 or Tax-Exempt LIBOR Loan on the date specified by Borrower's written notice; or (iii) any failure by Borrower to pay a LIBOR Loan or Tax-Exempt LIBOR Loan on the date for payment specified in Borrower's written notice. Without limiting the foregoing, Borrower shall pay to Purchaser a "yield maintenance fee" in an amount computed as follows: The current rate for United States Treasury
