Yield Protection Premium definition
Yield Protection Premium means with respect to any prepayment of all or any portion of the Loans, whether by optional or mandatory prepayment, acceleration or otherwise, an amount equal to the Make-Whole Discounted Value of the Make-Whole Remaining Scheduled Payments as calculated by the Administrative Agent; provided that such amount shall in no event be less than zero.
Yield Protection Premium means with respect to any payment, termination, cancellation, redemption, repayment or prepayment of all or any portion of the Loans (in each case, other than payment, termination, cancellation, redemption, repayment or prepayment as a result of a Casualty Event), or any distribution under a plan pursuant to the United States Bankruptcy Code (or any equivalent laws or regulations in any other jurisdiction) on account of the outstanding principal of the Loans, (i) on or prior to the first anniversary of the Closing Date, an amount equal to seven percent (7%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (ii) at any time after the first anniversary of the Closing Date but on or prior to the second anniversary of the Closing Date, an amount equal to five percent (5%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (iii) at any time after the second anniversary of the Closing Date but on or prior to the third anniversary of the Closing Date, an amount equal to two percent (2%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (iv) at any time after the third anniversary of the Closing Date but on or prior to the fourth anniversary of the Closing Date, an amount equal to one percent (1%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid and (v) at any time after the fourth anniversary of the Closing Date, 0%.
Yield Protection Premium means with respect to any prepayment of all or any portion of the Loans, whether by optional or mandatory prepayment, acceleration or otherwise occurring (a) on or prior to April 26, 2024, an amount equal to the amount of interest that would have been paid on the principal amount of the Loans being so repaid or prepaid for the period from and including the date of such repayment or prepayment (excluding, for the avoidance of doubt, any interest on the Loans paid prior to such date) to but excluding April 26, 2024, plus four percent (4%) of the principal amount of the Loans being so repaid or prepaid, (b) at any time after April 26, 2024 but on or prior to April 26, 2025, an amount equal to four percent (4%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (c) at any time after April 26, 2025 but on or prior to April 26, 2026, an amount equal to two percent (2%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid and (d) if the prepayment is made after April 26, 2026, zero percent (0%).
Examples of Yield Protection Premium in a sentence
The Exit Fee shall be earned, due and payable immediately upon any such payment or prepayment, and shall be in addition to any accrued and unpaid interest, reimbursement obligations, Yield Protection Premium or other amounts payable in connection therewith.
The Obligors, the Administrative Agent and the Lenders acknowledge and agree that any Yield Protection Premium and the Exit Fee due and payable in accordance with this Agreement shall not constitute unmatured interest, whether under Section 5.02(b)(3) of the Bankruptcy Code or otherwise.
The Yield Protection Premium and Exit Fee shall also be payable in the event the Obligations (and/or this Agreement) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure or by any other means or the Obligations are reinstated pursuant to Section 1124 of the Bankruptcy Code.
Any Yield Protection Premium or Exit Fee (or, if required, both the Yield Protection Premium and the Exit Fee) payable pursuant to this Agreement shall be presumed to be the liquidated damages sustained by each Lender as the result of the early termination, acceleration or prepayment and each Obligor agrees that such Yield Protection Premium or Exit Fee is reasonable under the circumstances currently existing.
In case of an Event of Default described in Section 11.01(h), the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other Obligations, including any applicable Yield Protection Premium and the Exit Fee, shall automatically become due and payable immediately (in the case of the Loans, at the Prepayment Price therefor), without presentment, demand, protest or other notice of any kind, all of which are hereby waived by each Obligor.
More Definitions of Yield Protection Premium
Yield Protection Premium means with respect to any repayment or prepayment of all or any portion of the Loans or any requirement to repay or prepay any Loans, whether by optional or mandatory prepayment, acceleration or otherwise (including as a result of acceleration, an Insolvency Proceeding or other Event of Default) occurring (a) on or prior to August 9, 2025, an amount equal to five percent (5%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (b) at any time after August 9, 2025 but on or prior to August 9, 2026, an amount equal to three percent (3%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (c) at any time after the August 9, 2026 but on or prior to August 9, 2027, an amount equal to one percent (1%) of the aggregate outstanding principal amount of the Loans being so repaid and (d) if the prepayment is made after August 9, 2027, zero percent (0%).
Yield Protection Premium means with respect to any repayment or prepayment of all or any portion of the Loans or any requirement to repay or prepay any Loans, whether by optional or mandatory prepayment, acceleration or otherwise (in each case other than any scheduled payments pursuant to Sections 3.01(a) or 3.01(b)) occurring (a) on or prior to October 13, 2024, an amount equal to the amount of interest (calculated on a net present value basis using a discount rate equal to the Three-Month Treasury Rate as of the applicable date of such repayment or prepayment plus 0.50%) that would have been paid on the principal amount of the Loans being so repaid or prepaid for the period from and including the date of such repayment or prepayment to but excluding October 13, 2024 (in each case, calculated on the basis of the interest rate with respect to the Loans that is in effect on the date of such repayment or prepayment and on the basis of actual days elapsed over a year of three hundred sixty (360) days (assuming for purposes of such calculation that, on each Payment Date occurring after the date of such repayment or prepayment, a portion of the interest with respect to such Loans is capitalized in accordance with Section 3.02(d) on the applicable Payment Date)), plus three percent (3%) of the principal amount of the Loans being so repaid or prepaid, (b) at any time after October 13, 2024 but on or prior to October 13, 2025, an amount equal to three percent (3%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid, (c) at any time after the October 13, 2025 but on or prior to October 13, 2026, an amount equal to one percent (1%) of the aggregate outstanding principal amount of the Loans being so repaid and (d) if the prepayment is made after October 13, 2026, zero percent (0%).
Yield Protection Premium means with respect to (x) any prepayment of all or any portion of the Loans, whether by optional or mandatory prepayment, acceleration or otherwise (in each case, other than any scheduled amortization payment) or (y) termination of the Tranche A-2 Commitments in accordance with the last sentence of Section 3.04, occurring (i) on or prior to the second anniversary of the Closing Date, an amount equal to the amount of interest that would have been paid on the principal amount of the Loans being so repaid or prepaid for the period from and including the date of such repayment or prepayment (excluding, for the avoidance of doubt, any interest on the Loans paid prior to such date) to but excluding the date that is the two (2) year anniversary of the Closing Date, plus four percent (4%) of the principal amount of the Loans being so repaid or prepaid or the Tranche A-2 Commitments being so terminated, (ii) at any time after the second anniversary of the Closing Date but on or prior to the third anniversary of the Closing Date, an amount equal to four percent (4%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid or the Tranche A-2 Commitments being so terminated, (iii) at any time after the third anniversary of the Closing Date but on or prior to the fourth anniversary of the Closing Date, an amount equal to two percent (2%) of the aggregate outstanding principal amount of the Loans being so repaid or prepaid or the Tranche A-2 Commitments being so terminated and (iv) if the prepayment is made after the fourth anniversary of the Closing Date, 0%; provided that if such prepayment occurs as a result of or in connection with a Change of Control and in lieu of any amounts required by the foregoing sentence: (A) on or prior to the first anniversary of the Closing Date, the Yield Protection Premium shall be twelve and a half percent (12.5%) of the principal amount of the Loans being so repaid or prepaid or the Tranche A-2 Commitments being so terminated, or (B) at any time after the first anniversary of the Closing Date but on or prior to the second anniversary of the Closing Date, the Yield Protection Premium shall be ten percent (10%) of the principal amount of the Loans being so repaid or prepaid or the Tranche A-2 Commitments being so terminated.
Yield Protection Premium means with respect to any repayment or prepayment of all or any portion of the Loans or any requirement to repay or prepay any Loans, whether by optional or mandatory prepayment, acceleration or otherwise (in each case other than any scheduled payments pursuant to Sections 3.01(a)) occurring (a) on or prior to March 7, 2026, an amount equal to the amount of interest that would have been paid on the principal amount of the Loans being so repaid or prepaid for the period from and including the date of such repayment or prepayment to but excluding March 7, 2026 (in each case, calculated on the basis of the interest rate with respect to the Loans that is in effect on the date of such repayment or prepayment and on the basis of actual days elapsed over a year of three hundred sixty (360) days), plus (b) (i) on or prior to September 7, 2024, an amount equal to four percent (4%) of the principal amount of the Loans being so repaid or prepaid, (ii) at any time after September 7, 2024 but on or prior to September 7, 2025, an amount equal to three percent (3%) of the principal amount of the Loans being so repaid or prepaid, (iii) at any time after September 7, 2025 but on or prior to September 7, 2026, an amount equal to two and one half of one percent (2.5%) of the principal amount of the Loans being so repaid or prepaid or (iv) if the prepayment is made after September 7, 2026, one and one quarter of one percent (1.25%) of the principal amount of the Loans being so repaid or prepaid.
Yield Protection Premium means with respect to any payment, termination, cancellation, redemption, repayment or prepayment (except for mandatory prepayments in connection with a Casualty Event) of all or any portion of the Loans, whether by optional or mandatory prepayment, acceleration or otherwise, or any distribution under a plan pursuant to the United States Bankruptcy Code (or the equivalent laws or regulations of any other jurisdiction), occurring (i) on or prior to the second anniversary of the funding of the Tranche A-1 Term Loans, an amount equal to the amount of interest that would have been paid on the principal amount of the Loans being so repaid or prepaid for the period from and including the date of such repayment or prepayment (excluding, for the avoidance of doubt, any interest on the Loans paid prior to such date) to but excluding the date that is the two (2) year anniversary of the funding of the Tranche IF " DOCVARIABLE "SWDocIDLocation" 1" = "1" " DOCPROPERTY "SWDocID" 4900-8142-0056v.28" "" 4900-8142-0056v.28
Yield Protection Premium is defined in the Lender Fee Letter.
Yield Protection Premium means with respect to any repayment or prepayment of all or any portion of the Loans or any requirement to repay or prepay any Loans, whether by optional or mandatory prepayment, acceleration or otherwise (in each case other than any scheduled payments pursuant to Sections 3.01(a) or 3.01(b)) occurring (a) on or prior to October 13, 2024, an amount equal to the amount of interest (calculated on a net present value basis using a discount rate equal to the Three-Month Treasury Rate as of the applicable date of such repayment or prepayment plus 0.50%) that would have been paid on the principal amount of the Loans being so repaid or prepaid for the period from and including the date of such repayment or prepayment to but excluding October 13, 2024 (in each case, calculated on the basis of the interest rate with respect to the Loans that is in effect on the date of such repayment or prepayment and on the basis of actual days elapsed over a year of three hundred sixty (360) days