DEFAULT/PREPAYMENT Clause Samples

DEFAULT/PREPAYMENT. If a Default Prepayment occurs, such Default Prepayment shall be deemed to be a voluntary prepayment and in such case the applicable Prepayment Consideration shall be due and payable to Lender in connection with such Default Prepayment (unless Lender voluntarily and expressly waives in writing the right to collect such Prepayment Consideration). The Prepayment Consideration shall be secured by all security and collateral for the Loan and shall, after it becomes due and payable, be treated as if it were added to the Outstanding Principal Balance for all purposes including judgment on the Note, foreclosure (whether through power of sale, judicial proceeding, or otherwise) (a “Foreclosure Sale”), redemption, and bankruptcy (including pursuant to ▇▇▇▇▇▇▇ ▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Bankruptcy Code or any successor provision); without limiting the generality of the foregoing, it is understood and agreed that the Prepayment Consideration may be added to Lender’s bid at any Foreclosure Sale. If Prepayment Consideration is due hereunder, Lender may deliver to Borrower a statement setting forth the amount and determination of the Prepayment Consideration, and, provided that Lender shall have in good faith applied the formula described in the definition of “Prepayment Consideration” herein, Borrower shall not have the right to challenge the calculation or the method of calculation set forth in any such statement in the absence of manifest error, which calculation may be made by Lender on any day during the thirty (30) -day period preceding the date of such prepayment. In addition to Prepayment Consideration, Borrower shall pay all hedging and breakage costs of any kind and any other cost or expense incurred by Lender due to any prepayment (including a Default Prepayment). Borrower acknowledges that: (i) Lender has made the Loan to Borrower in reliance on, and the Loan has been originated for the purpose of, selling the Loan in the secondary market to investors who will purchase the Loan or direct or indirect interests therein in reliance on, the actual receipt over time of the stream of payments of principal and interest agreed to by Borrower herein; and (ii) Lender or any subsequent investor in the Loan will incur substantial additional costs and expenses and damages in the event of a prepayment of the Loan; and (iii) the Prepayment Consideration is reasonable and is a bargained for consideration and not a penalty and the terms of the Loan are in various respects more...

DEFAULT/PREPAYMENT. If a Default Prepayment (defined below) occurs, Borrower shall pay to Lender the entire principal amount of the Loan and all accrued interest thereon. including. without limitation, the following amounts: (i) if the Default Prepayment occurs prior to the time when prepayment of the principal balance of the Loan is permitted, an amount equal to the sum of (A) the present value of the interest payments which would have accrued on the principal balance of the Loan (outstanding as of the date of such Default Prepayment) at the Applicable Rate from the date of such Default Prepayment to the first date prepayment is permitted pursuant to the Commitment discounted at a rate equal to the Treasury Rate except that such Treasury Rate shall be based on the U. S. Treasury constant maturity most nearly approximating the date upon which prepayment is first permitted pursuant to the Commitment, and (B) the Prepayment Consideration calculated as of the first date prepayment is permitted pursuant to the Commitment; and (ii) if the Default Prepayment occurs at a time when prepayment of the principal balance of the Loan is permitted, the Prepayment Consideration.

DEFAULT/PREPAYMENT. If a Default Prepayment occurs, Borrower shall pay to Agent for the Ratable benefit of Lenders, the entire Debt, including, without limitation, an amount equal to the greater of (a) one percent (1%) of the Default Prepayment and (b) the Spread Maintenance Premium.

DEFAULT/PREPAYMENT. If all or any part of the principal amount of the ------------------ Loan is prepaid upon acceleration of the Loan following the occurrence of an Event of Default at any time prior to the Maturity Date, Borrower shall be required to make a payment (the "Yield Maintenance Payments") in an amount equal -------------------------- to the greater of (a) three (3%) of such prepaid principal balance and (b) the excess, if any, of (i) the sum of (A) the aggregate respective present values of all scheduled interest payments in respect of the Loan (or the portion of all such interest payments corresponding to the portion of the principal of the Loan to be prepaid upon acceleration) for the period from the date of such prepayment upon acceleration to (and including) the Maturity Date, discounted monthly at a rate equal to the Treasury Constant Yield, such yield equivalent to a percentage expressed on the basis of a 360 day year of twelve 30 day months and (B) the aggregate respective present values of all scheduled principal payments in respect of the Loan (or the then unpaid portion thereof to be prepaid upon acceleration), assuming for these purposes that the entire outstanding scheduled principal amount of the Loan as of the Maturity Date were to be paid in full on such Payment Date, discounted monthly at a rate equal to the Treasury Constant Yield, such yield equivalent to a percentage expressed on the basis of a 360 day year of twelve 30 day months over (ii) the then current outstanding principal amount of the Loan (or the then unpaid portion thereof to be prepaid upon acceleration). If the Yield Maintenance Payments as calculated pursuant to this clause (b) would not be a positive number, then the number yielded by such calculation shall be zero. For purposes of this Section 3.3, the amount of the Loan on the date of prepayment shall be determined after giving effect to any payment of scheduled amortization made on such date. The determination of the Yield Maintenance Payments by Lender shall be conclusive and binding on Borrower in the absence of manifest error.

DEFAULT/PREPAYMENT. Article 5(k);

DEFAULT/PREPAYMENT. The Company may pre-pay the Default Principal of this Note plus accrued Interest from and after close of business on the Maturity Date and prior to a Maturity Conversion.

DEFAULT/PREPAYMENT a) Should the Borrower be in default under the terms of this Agreement or under the terms of any mortgage or other encumbrance registered on title to the Property, the Corporation shall have the right to declare the Unearned Portion of the RHAP Loan due and payable immediately. The amount of the RHAP Loan that must be repaid is equal to the total amount of the RHAP Loan less any amount considered forgiven in accordance with subsection 7 b) herein. b) Notwithstanding subsections 7 b) and 10 a) herein, where the Borrower defaults or repays the RHAP Loan any time prior to the Forgiveness Begin Date or within one year of the Forgiveness Begin Date, the total amount of the RHAP Loan advanced will become due and payable by the Borrower to the Corporation immediately.

DEFAULT/PREPAYMENT. If the maturity of the Loan is accelerated prior to the expiration of the second (2nd) Loan Year as a result of an Event of Default, such Event of Default shall be presumed to be, and shall conclusively be deemed to be, an election on the part of Borrower to prepay the Loan and a willful and deliberate attempt on Borrower’s part to avoid payment of the Prepayment Fee. Accordingly, Borrower expressly acknowledges and agrees that upon an acceleration of the maturity of the Loan prior to the expiration of the second (2nd) Loan Year as a result of an Event of Default (including in connection with reinstatement of the Security Instrument provided by statute during foreclosure proceedings or in connection with any statutory right of redemption or any other prepayment of the Indebtedness, in full or in part, which is not expressly permitted under this Agreement) Lender shall be entitled to the applicable Prepayment Fee. Borrower hereby expressly (a) waives any rights it may have under California Civil Code Section 2954.10 to prepay the Note, in whole or in part, without penalty, upon acceleration of the maturity date of the Note, and (b) by initialing this provision in the space provided below, hereby declares that Lender's agreement to make the Loan at the interest rate and on the terms and conditions set forth herein and in the other Loan Documents constitutes adequate consideration, given individual weight by Borrower, for this waiver and the agreements set forth in this Section 2.12.4.

DEFAULT/PREPAYMENT. If a Default Prepayment (defined below) occurs, Borrower shall pay to Lender the entire Debt, including, without limitation, an amount (the "Default Consideration") equal to the greater of (i) the amount (if any) which when added to the then outstanding principal amount of this Note will be sufficient to purchase Defeasance Collateral providing the required Scheduled Defeasance Payments assuming Defeasance would be permitted hereunder, or (ii) one percent (1%) of the Default Prepayment. For purposes of this