Prepayment Consideration definition

Prepayment Consideration shall have the meaning set forth in Section 2.3.1.

Prepayment Consideration means any Prepayment Premium, Yield Maintenance Charge and/or Excess Defeasance Deposit Proceeds.

Prepayment Consideration has the meaning set forth in Section 2.6(c) hereof.

Examples of Prepayment Consideration in a sentence

• Any due and unpaid Prepayment Consideration shall be paid in accordance with the Priority of Payments.

• On the date of any optional prepayment in connection with which Prepayment Consideration is payable, the Indenture Trustee or the Paying Agent, as applicable, in either case at the prior written direction of the Manager (or, at any time that the Notes are Specially Serviced Notes, the Servicer), shall pay such Prepayment Consideration received in respect of any Class and Series of Notes to the Holders of such Notes pro rata based on the amount of principal prepaid on each such Note.

• Prepayment Consideration that is not paid when due because funds are not available to make such payment pursuant to the Priority of Payments shall not bear interest.

• No Prepayment Consideration shall be payable in connection with prepayments of any Series of Variable Funding Notes.

• Except as otherwise provided in this Section 2.09(c) or in a Series Supplement for any Series of Term Notes, Prepayment Consideration shall be payable in connection with (i) any optional prepayment of any Class of Term Notes and (ii) any prepayments of any Class of Term Notes made in connection with a Release Price Disposition, in each case of clauses (i) and (ii), that are made during the applicable Prepayment Consideration Period.

More Definitions of Prepayment Consideration

Prepayment Consideration means an amount equal to the greater of (i) one percent (1%) of the Loan balance at the time of prepayment and (ii) the Yield Maintenance Amount.

Prepayment Consideration means, with respect to any Series of Notes, the premium to be paid on certain prepayments of principal with respect to such Series of Notes, identified as a “Prepayment Consideration” pursuant to the applicable Series Supplement.

Prepayment Consideration shall be the amount equal to the sum of (i) an amount equal to the interest which would have accrued on the Principal Indebtedness for the period from and including (A) the date (the “Event Date”) which is the earlier of (x) the date of prepayment of the Loan or (y) such earlier date upon which the entire remaining Principal Indebtedness shall become due and payable, whether as a result of acceleration of the maturity of the Loan or otherwise, to but excluding (B) the next Payment Date following the Event Date, plus (ii) the sum of two percent of the Principal Indebtedness on the Event Date plus an amount equal to the “Present Value Yield Differential”, calculated as the excess, if any, of (A) the amount of the monthly interest which would otherwise be payable on the principal balance of the Loan from (1) the date (the “Yield Determination Date”) which is the Payment Date following the Event Date through and including (2) the Scheduled Maturity Date, over (B) the amount of the monthly interest Lender would earn if an amount equal to the Principal Indebtedness of the Loan as of the Event Date were invested for the period from the Yield Determination Date through the Scheduled Maturity Date at the Yield Rate (as hereinafter defined), such difference (the “Yield Differential”) to be discounted to present value at the Yield Rate using the following formula: Present Value Yield Differential = Yield Differential x [1-(1+r)-n] where: r= Yield Rate, and n= the remaining Weighted Average Life to Maturity (as defined below) from the Yield Determination Date.

Prepayment Consideration means any Yield Maintenance paid in connection with a principal prepayment on, or other early collection of principal of, any Class of Notes.

Prepayment Consideration has the meaning specified in Section 2.06(a).

Prepayment Consideration means, (i) with respect to any prepayment of the principal balance of a Note (other than with funds on deposit in any Prefunding Account), an amount that is equal to the excess, if any, of (x) the present value on the date of such prepayment (by acceleration or otherwise) of the sum of the principal payment allocable to such Note and interest that the Issuer would otherwise be required to pay on the prepaid portion of such Note from the date of such prepayment to and including the ARD Prepayment Date with respect to such Series of Notes absent such prepayment (and assuming payment of any Monthly Amortization Amounts), with such present value determined by the use of a discount rate equal to the sum of (a) the yield to maturity (adjusted to a “mortgage equivalent basis” pursuant to the standards and practices of the Securities Industry and Financial Markets Association), five Business Days prior to such prepayment of the United States Treasury Security having the maturity closest to such ARD Prepayment Date, plus (b) 0.50% over (y) the principal amount of such Note being prepaid on the date of such prepayment and (ii) with respect to any prepayment of the principal balance of a Note made from funds on deposit in any Prefunding Account, 1.00% of the principal balance of such Note being repaid with such funds. Any Prepayment Consideration for any Notes of a Class and Series that have been prepaid will be paid pro rata to the Holders of such Notes of such Class in proportion to the principal balance of such Notes of such Class being so prepaid. With respect to a Note that is has a Targeted Amortization Amount, the Prepayment Consideration shall be determined assuming that (i) monthly payments of principal on such Note is made based upon the Targeted Amortization Amount for such Note (and with interest calculated based on the principal balance of such Note as reduced by each such principal payment) and (ii) the remaining principal balance of such Note (after taking into account all payments of Targeted Amortization Amount for such Note, if applicable) is paid on the ARD Prepayment Date applicable to such Note.

Prepayment Consideration means any “Yield Maintenance” (as defined in the Loan Agreement) paid in connection with a principal prepayment on, or other early collection of principal of, any Component of the Mortgage Loan.