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)."
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Prepayment Credit has the meaning assigned to such term in Section 3(c) of Attachment A.
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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.
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Prepayment Credit has the meaning set forth in Section 2.1(e).
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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).
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Related to Prepayment Credit

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Loan repayment means the cancellation and repayment of loans

  • Discount Prepayment Accepting Lender has the meaning set forth in Section 2.05(a)(v)(B)(2).