Required Yield Maintenance definition

Required Yield Maintenance means an amount equal to the greater of (A) one percent (1.0%) of the principal amount being prepaid; and (B) the positive excess of (i) the present value ("PV") of all future installments of principal and/or interest, to the extent due under this Note, including the principal amount due at maturity (collectively, "All Future Payments"), discounted at an interest rate per annum equal to the Treasury Constant Maturity Yield Index published during the second full week preceding the date on which such premium is payable for instruments having a maturity coterminous with the remaining term of this Note, over (ii) the principal amount of this Note outstanding immediately before such prepayment [(PV of All Future Payments) - (principal balance at time of prepayment) = prepayment fee]. "Treasury Constant Maturity Yield Index" shall mean the average yield for "This Week" as reported by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519). If there is no Treasury Constant Maturity Yield Index for instruments having a maturity coterminous with the remaining term of this Note, then the index shall be equal to the weighted average yield to maturity of the Treasury Constant Maturity Yield Indices with maturities next longer and shorter than such remaining average life to maturity, calculated by averaging (rounded upward to the nearest 1/8 of 1% per annum) the yields of the relevant Treasury Constant Maturity Yield Indices (rounded upward to the nearest 1/8 of 1% per annum). In the event that there is no Treasury Constant Maturity Index available, Lender may select an alternate index as may be reasonable based on the available indices.
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Required Yield Maintenance means an amount equal to the greater of (A) the present value as of the Prepayment Date of the remaining scheduled payments of principal and interest with respect to the principal amount of the Loan being prepaid from the Prepayment Date through the Prepayment Release Date (assuming a principal payment is made on the Prepayment Release Date equal to the principal amount of the Loan being prepaid on the Prepayment Date) determined by discounting such payments at the Discount Rate less the amount of principal being prepaid or (B) one percent (1%) of the principal amount being prepaid.
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Examples of Required Yield Maintenance in a sentence

  • In addition to such partial prepayment amount, the borrower is also obligated to pay a prepayment penalty in the amount of the Required Yield Maintenance.

  • Other than following an uncured Event of Default, no Required Yield Maintenance shall be due in connection with any prepayment made pursuant to this Section 2.4.2. Following an Event of Default, and for so long as such Event of Default continues, any prepayment shall be applied to payments of principal of the Loan and other amounts due under the Loan Documents in such order and priority as Lender may determine in its sole discretion.

  • In order to satisfy the condition set forth in Sections 2.6.3(c), Borrower shall have the right to make a partial repayment of the Loan in an amount equal to, but not greater than, the amounts required to be prepaid in order to satisfy such condition (the "Permitted Prepayment Amount") together with the Required Yield Maintenance applicable to the Permitted Prepayment Amount.

  • On the Payment Date three (3) months prior to the Maturity Date (the “Open Prepayment Date”), or on any Payment Date thereafter, Borrower may, at its option and upon ten (10) days prior notice to Lender, prepay the Debt in whole but not in part without payment of the Required Yield Maintenance Premium.

  • If the State of Illinois exercises such purchase option during the defeasance lockout period, or if the borrower is otherwise unable to defease due to REMIC restrictions, then the borrower must prepay the loan, to the extent necessary, with the Required Yield Maintenance plus 1%.

  • No Required Yield Maintenance Premium or other premium shall be due in connection with any prepayment made pursuant to this Section 2.4.2 or any other involuntary prepayment related to a Casualty or Condemnation.

  • Lender shall not be obligated to accept any prepayment of the Debt under this Section 2.4.1 unless it is accompanied by the applicable Required Yield Maintenance due in connection therewith.

Related to Required Yield Maintenance

  • Yield Maintenance Amount means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Called Principal of such Note over the sum of (i) such Called Principal plus (ii) interest accrued thereon as of (including interest due on) the Settlement Date with respect to such Called Principal. The Yield-Maintenance Amount shall in no event be less than zero.

  • Yield Maintenance Period means the period from and including the date of this Note until but not including the Scheduled Initial Maturity Date.

  • Yield Maintenance Charge With respect to any Mortgage Loan or Serviced Companion Loan, the yield maintenance charge or prepayment premium, if any, payable under the related Note in connection with certain prepayments.

  • Yield Maintenance Premium means the amount (if any) which, when added to the remaining principal amount of this Note, will be sufficient to purchase U.S. Obligations providing the required Scheduled Defeasance Payments; and

  • Yield Maintenance Agreement The yield maintenance agreement between the Trustee, on behalf of the Trust, and the Counterparty, which will be primarily for the benefit of the Class 1-CB-1 Certificates, substantially in the form attached hereto as Exhibit Q. The Yield Maintenance Agreement shall not be an asset of any REMIC formed under this Agreement.

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

  • Operation and Maintenance Costs means the costs of:

  • Deferred Maintenance means improvements necessary for continued operations which do not improve productivity or alter the process technology.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Maintenance Charges means the charges payable by the applicant to the Maintenance Agency in accordance with the demand raised by the Maintenance Agency for the maintenance and up keep of the said building/ said complex, including common areas and facilities but does not include; (a) the charges for actual consumption of utilities in the Dwelling Unit including but not limited to electricity, water, which shall be charged based on actual consumption on monthly basis and (b) any statutory payments, taxes, with regard to the Dwelling Unit/ said building/said complex.

  • Spread Maintenance Premium means, with respect to any payment or prepayment, an amount equal to the product of the following: (i) the LIBOR Margin, the Alternate Rate Spread or the Base Rate Spread then applicable to each such future installment of interest, multiplied by (ii) the principal amount of the Loan so prepaid, and multiplied by (iii) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid through and including December 14, 2019, and the denominator of which is 360.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Scheduled Maintenance means any adjustment, repair, removal, disassembly, cleaning, or replacement of components or systems required by the manufacturer which is performed on a periodic basis to prevent part failure or equipment or engine malfunction, or anticipated as necessary to correct an overt indication of malfunction or failure for which periodic maintenance is not appropriate.

  • Routine maintenance means activities to keep an impervious surface as near as possible to its constructed condition. This includes ordinary maintenance activities, resurfacing paved areas, and exterior building changes or improvements which do not materially increase or concentrate stormwater runoff, or cause additional nonpoint source pollution.

  • Maintenance Period means the period so specified in an adoption agreement as a period of time—

  • Operation and Maintenance or “O&M” shall mean all activities required to operate, maintain, and monitor the effectiveness of the RA as specified in the SOW or any EPA-approved O&M Plan.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Maintenance Outage means NERC Event Type MO, as set forth in attached Exhibit B, and includes any outage involving ten percent (10%) of the Facility’s Net Output that is not a Forced Outage or a Planned Outage.

  • Maintenance Term means, initially, the Maintenance Term identified in the Order. Upon expiration of the initial Maintenance Term, the Maintenance Term shall automatically renew for additional one (1) year periods unless terminated earlier by either party, at its option, by written notice at least sixty (60) days prior to the end of the then-current Maintenance Term. The Maintenance Term shall immediately terminate upon the termination, expiration, or cancellation of this Agreement for any reason.

  • Maintenance agreement means a contract of limited duration

  • Operations and maintenance means a project delivery method in which the District enters into a single contract for the routine operation, routine repair, and routine maintenance of an infrastructure facility.

  • Principal Period of Maintenance means any nine consecutive hours per day (usually between the hours of 7:00 a.m. and 6:00 p.m.) as selected by the State, including an official meal period not to exceed one hour, Monday through Friday, excluding holidays observed at the installation.

  • Maintenance Schedule means a document which describes the specific scheduled maintenance tasks and their frequency of completion necessary for the safe operation of those aircraft to which it applies;