Examples of Prepayment Release Date in a sentence
Except as otherwise provided in Section 2.4.2 hereof, Borrower shall not have the right to prepay the Loan in whole or in part prior to the Prepayment Release Date.
If prior to the Prepayment Release Date, and following an Event of Default which is continuing, payment of all or any part of the Loan (exclusive of any Debt Service) is tendered by Borrower or otherwise recovered by Lender, such tender or recovery shall be deemed a voluntary prepayment by Borrower and Borrower shall pay, in addition to the Debt, an amount equal to 1% of the principal amount of the Loan prepaid.
After the Prepayment Release Date, no Spread Maintenance Premium or prepayment penalty shall be due in connection with any application of Net Liquidation Proceeds After Debt Service in respect of a Liquidation Event.
Prior to the Mandatory Prepayment Release Date, the Borrower will not, and will not permit any of its Subsidiaries to, make any Asset Sale unless (i) the consideration therefor is not less than the fair market value of the related asset (as determined in good faith by the chief financial officer of the Borrower) and (ii) the consideration therefor consists solely of cash or cash equivalents.
Other than following an Event of Default, no Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to clauses (i) or (ii) of this Section 2.4.9(a) prior to the Prepayment Release Date.