Examples of Par Prepayment Date in a sentence
Provided no Event of Default has occurred and is continuing, on the Permitted Par Prepayment Date, and on any Business Day thereafter through the Maturity Date, Borrower may, at its option, prepay the Debt in full (but not in part) without payment of any yield maintenance or other premium; provided, however, if for any reason such prepayment is not paid on a regularly scheduled Payment Date, the Debt shall include interest for the full Accrual Period during which the prepayment occurs.
The “Yield Maintenance Amount” (as the term is used in the Table and elsewhere in this Note) shall mean the present value, as of the Prepayment Date, of the remaining scheduled payments of principal and interest from the Prepayment Date through the Permitted Par Prepayment Date (including any balloon payment) determined by discounting such payments at the Discount Rate (hereinafter defined), less the amount of principal being prepaid.
The term “Treasury Rate” shall mean the yield calculated by the linear interpolation of the yields, as reported in Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading U.S. Government Securities/Treasury Constant Maturities for the week ending prior to the Prepayment Date, of U.S. Treasury constant maturities with maturity dates (one longer and one shorter) most nearly approximating the Permitted Par Prepayment Date.
Any prepayment made after the Par Prepayment Date and any voluntary prepayment made in connection with a Casualty/Condemnation Prepayment pursuant to Section 2.3.2 above, shall be made without payment of the Yield Maintenance Premium.
A definition for "Par Prepayment Date," which is shown as a certain "Payment Date" (e.g., the 114th Payment Date), b.
Except during the continuance of an Event of Default, all proceeds of any repayment, including any prepayments of the Loan, shall be applied by Lender as follows in the following order of priority: First, accrued and unpaid interest at the Interest Rate; Second, to Principal; and Third, to any other amounts then due and owing under the Loan Documents, including the Yield Maintenance Premium (if such repayment or prepayment occurs prior to the Par Prepayment Date).
In addition, concurrently with any prepayment of principal pursuant to Section 2.3(c) and Section 2.3(f) hereof, made prior to the Par Prepayment Date, Borrowers shall, in addition to the other sums described in this Section 2.4(i), pay the Spread Maintenance Premium applicable thereto.
Provided no Event of Default has occurred and is continuing, on the Permitted Par Prepayment Date, and on any Business Day thereafter through the Maturity Date, Borrower may, at its option, prepay the Debt in full (but not in part) without payment of any yield maintenance or other or premium; provided, however, if for any reason such prepayment is not paid on a regularly scheduled Payment Date, the Debt shall include interest for the full Accrual Period during which the prepayment occurs.
If, the Maturity Date is accelerated prior to the Par Prepayment Date, then, in addition to all other sums then due under the Loan Documents, Borrower shall pay to Agent the Spread Maintenance Premium.
In addition, Borrower may make a partial prepayment of principal (including pursuant to clause (B) of the definition of Cash Sweep Condition) in order to avoid the commencement of a Cash Sweep Condition or to end a Cash Sweep Condition which has previously commenced (for the avoidance of doubt, it is agreed that such prepayment may be made prior to the Par Prepayment Date).