Prohibited Prepayment definition

Prohibited Prepayment. As defined in the definition of Compensating Interest Payments.
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Prohibited Prepayment shall have the meaning set forth in Section 3.01(c)(23) of this Agreement.
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Prohibited Prepayment has the meaning set forth in Section 2.05(c) of this Loan Agreement.
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Examples of Prohibited Prepayment in a sentence

  • If a Prohibited Prepayment occurs and is accepted voluntarily or otherwise by Lender, then, in addition to all other rights and remedies available to Lender upon an Event of Default, a Prohibited Prepayment Fee (as defined below) shall be due to compensate Lender for damages suffered as a result of the Prohibited Prepayment, such amount shall be due in addition to the outstanding principal balance, all accrued and unpaid interest and other outstanding amounts due under the Loan Documents.

  • If such acceleration takes place prior to the Open Date, an amount equal to the Prohibited Prepayment Fee shall be added to the balance of the Debt.

  • All obligations under this Agreement which have been incurred by Lessee, or with respect to which Lessee shall be in default, shall survive any termination or cancellation of this Agreement, unless waived or released in writing by SRA.

  • Prepayments arising from Lender's application of insurance proceeds upon the occurrence of a Casualty, the application of a condemnation award upon the occurrence of a Condemnation, or as set forth in Section 2.02 (e) may be made prior to the Open Date without being deemed a Prohibited Prepayment and, whenever made, without payment of the Prohibited Prepayment Fee.

  • Except as otherwise set forth in Section 2.05(b) or in Section 2.05(c), if payment of all or any part of the principal balance of the Loan is tendered by Borrower, a purchaser at foreclosure, a Guarantor, or any other Person prior to the Open Date, whether by reason of acceleration of the Loan or otherwise (a "Prohibited Prepayment"), such tender shall be deemed an attempt to circumvent the prohibition against prepayment set forth in Section 2.05(a) and, at Lender's option, shall be an Event of Default.

  • No Prepayment Fee or Prohibited Prepayment Fee shall be due in such event.

  • Prepayments arising from Xxxxxx’s application of insurance proceeds upon the occurrence of a Casualty or the application of a condemnation award upon the occurrence of a Condemnation may be made prior to the Open Date without being deemed a Prohibited Prepayment and, whenever made, without payment of a Prohibited Prepayment Fee.

  • If, during the Prohibited Prepayment Period, the Lessor elects to approve a Facility Funds Reduction Request, it will provide a written consent thereto setting forth the conditions of its consent.

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  • If a Prohibited Prepayment occurs and is accepted voluntarily or otherwise by Lender, then, in addition to all other rights and remedies available to Lender upon an Event of Default, a Prohibited Prepayment Fee (as defined below) shall be due to compensate Lender for damages suffered as a result of the Prohibited Prepayment, such amount shall be due in addition to the outstanding principal balance, all accrued and unpaid interest and other outstanding amounts due under the Loan Docun1ents.


More Definitions of Prohibited Prepayment

Prohibited Prepayment has the meaning set forth in Section 2.05(c) hereof.
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Related to Prohibited Prepayment

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • 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 Date as defined in Section 2.12(e).

  • Loan repayment means the cancellation and repayment of loans

  • Voluntary Prepayment means a prepayment of principal of Term Loans pursuant to Section 2.05(a) in any year to the extent that such prepayment reduces the scheduled installments of principal due in respect of Term Loans as set forth in Section 2.07 in any subsequent year.