Common use of DEFAULT/PREPAYMENT Clause in Contracts

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.