Common use of DEFAULT/PREPAYMENT Clause in Contracts

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 a Default Prepayment occurs, Borrower shall pay to Agent for the Ratable benefit of Lenders, the entire Debt, including, without limitation, if such Default Prepayment occurs during the Lockout Period, an amount equal to the greater of (a) one percent (1%) of the Default Prepayment and (b) Prepayment, in which case, the Spread Maintenance PremiumPremium shall not be payable.