Prepayment Credit definition

Prepayment Credit shall have the meaning set forth in Section 6.05.

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Prepayment Credit means the amount payable by the Banks to the Borrowers equal to the amount received by the Agent on behalf of the Banks from their Swap counter-party upon the Banks' termination of the Hedge Agreement or comparable Swap or other interest risk management agreement at the time of the Fixed Rate prepayment by the Borrowers (i.e., the "market value" of the interest rate hedge or swap is positive). In determining the percentage that the Debt bears to the Loan Value, the "Debt" and the "Loan Value" shall be the average of such respective amounts during the most recent calendar month preceding such determination. The Applicable Prime Rate option described above in the matrices is hereinafter referred to as the "Prime Rate Option," the Libor Rate interest option described above in the matrices is hereinafter referred to as the "Libor Rate Option" and the Fixed Rate interest option described above is hereinafter referred to as the "Fixed Rate Option." The Prime Rate Option shall be computed on the basis of a year of 365 or 366 days, as the case may be and the Libor Rate Option and the Fixed Rate Option shall be based on a year of 360 days and actual days elapsed. Within thirty (30) days of the signing date of this Agreement (as opposed to the effective date of July 24, 2001), the Borrowers shall enter into a Swap, Hedge Agreement or comparable ISDA Master Agreement with such one or more of the Banks electing to require the same for such percentage of such Fixed Rate Option Loans as may be required by such Bank(s)."

Prepayment Credit has the meaning assigned to such term in Section 3(c) of Attachment A.

Examples of Prepayment Credit in a sentence

• Such Prepayment Credit shall be applied in the calculation of Net Projected Percentage Rent and Actual Percentage Rent.

• In the event the Loan is repaid in its entirety on or before June 30, 1997, Borrower shall receive the Prepayment Credit (as defined in Subsection 5.c, below) to be applied against the outstanding principal balance of the Note on the date of such repayment.

• If applicable, GF shall deduct any Order Shortfall Fee from the Prepayment Credit.

• Such agreed increased amount of Annual Prepayment Credit Target shall be subtracted from the Annual Prepayment Credit Target of the year 2028.

• On the Maturity Date, the Agents and Lenders shall be entitled to immediate payment of all of the Obligations in Cash, except that to the extent the Stock Price Condition had occurred prior to the Maturity Date and the Borrower previously indefeasibly paid in Cash (or, if applicable, applied on account of) the Generics Premium, an amount equal to the Prepayment Credit Amount shall be deemed paid in full.

• C) sums, in the form of cash, wire transfer or certified check drawn on a California bank necessary to satisfy the entire Loan Balance, as the same may be reduced by the Prepayment Credit (as defined in the Second Amendment to Loan Documents), if any.

• In consideration of the Prepayment, Tower shall credit Siliconix the amount agreed to between the parties (the "Prepayment Credit") towards the payment of each of the Wafers of the Full Agreement Amount.

• By way of example only, if BSS pays a Prepayment Credit of $1000 in respect of Exclusive Products Category 3, then BSS is entitled to a $2000 Royalty Credit in respect of Exclusive Products Category 3.

• The parties acknowledge that CDnow has agreed to pay this reduced amount, and thereby satisfy its obligations in full with respect to the aforesaid invoice, by agreeing to reduce the Prepayment Credit issued under Section 6(c)(i) of the Agreement, as amended by this First Amendment, by the amount of *** (which reduction is already reflected in the amount of *** as set forth in Section 6(c)(i) as amended by this First Amendment).

• If there is no Prepayment Credit due by GF in said quarter, GF will issue to Customer an invoice for the Order Shortfall Fee, to be paid by Customer within thirty (30) days of the invoice date.

More Definitions of Prepayment Credit

Prepayment Credit means Five Hundred Thousand Dollars ($500,000), adjusted at the end of each Earnout Quarter (commencing with the Earnout Quarter ended February 23, 2010) until such date as the Prepayment Credit equals $0, as follows: (i) increased by adding the product of (A) the current outstanding Prepayment Credit and (B) 0.0375; and (ii) reduced by the aggregate Prepayment Penalty for Regulated Banks making a prepayment during such Earnout Quarter. In no event shall the Prepayment Credit be less than $0.

Prepayment Credit has the meaning set forth in Section 2.1(e).

Prepayment Credit shall be an amount equal to the amount by which the interest that has accrued on the Loan from the Effective Date until the date on which the Loan is repaid in its entirety in accordance with this Section 5, exceeds the amount of interest that would have accrued on the Loan during that same period had such interest been calculated at a rate of nine percent (9%) per annum, which amount is equal to One Hundred Seven Thousand Six Hundred Seventy Dollars ($107,670) per month (as the same may be prorated to reflect any partial months).