Prepayment Charge Clause Samples

Prepayment Charge. Each Mortgage Loan that is subject to a prepayment penalty as provided in the related Mortgage Note is identified on the Mortgage Loan Schedule. With respect to Mortgage Loans originated prior to October 1, 2002, no such Prepayment Charge may be imposed for a term in excess of five (5) years following origination. With respect to Mortgage Loans originated on or after October 1, 2002, no such Prepayment Charge may be imposed for a term in excess of three (3) years following origination;

Prepayment Charge. None of the Mortgage Loans has a Prepayment Premium period at origination in excess of three years;

Prepayment Charge. With respect to any Mortgage Loan that contains a provision permitting imposition of a Prepayment Charge upon a Principal Prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such Prepayment Charge in exchange for a monetary benefit, including but not limited to a Mortgage Interest Rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of applying for a Mortgage Loan that did not require payment of a Prepayment Charge, (iii) the Prepayment Charge is disclosed to the Mortgagor in the Mortgage Loan Documents pursuant to applicable state and federal law, and (iv) notwithstanding any state or federal law to the contrary, the Company shall not impose such Prepayment Charge in any instance when the Mortgage debt is accelerated as the result of the Mortgagor's default in making the Monthly Payments;

Prepayment Charge. This is a charge that you may have to pay if you're prepaying all or part of what is owed.

Prepayment Charge. In the event all or any portion of any Advance (including, for the avoidance of doubt, any Capitalized PIK Interest) is repaid, prepaid (including any voluntary prepayment under Section 2.5(a), or accelerated for any reason, including as a result of any Event of Default, the commencement of any proceeding against Borrower under the U.S. Bankruptcy Code or any other debtor relief law, the foreclosure and sale of, or collection of, the Collateral, or the restructuring, reorganization or compromise of the Advances and other Secured Obligations by the confirmation of a plan of reorganization or any other plan of compromise, restructure or arrangement (it being understood and agreed that the prepayment charge set forth in this Section 2.5(c) (I) will be due and payable as though such Advances were voluntarily prepaid as of the date of acceleration and (II) shall constitute part of the Secured Obligations), such repayment, prepayment, or acceleration will be subject to a prepayment premium equal to (i) [***]% of the principal amount so repaid, prepaid or accelerated if such repayment, prepayment or acceleration occurs at any time on or prior to the first anniversary of the Second Amendment Closing Date, (ii) [***]% of the principal amount so repaid, prepaid or accelerated if such repayment, prepayment or acceleration occurs after the first anniversary of the Second Amendment Closing Date, but on or prior to the second anniversary of the Second Amendment Closing Date and (iii) [***]% of the principal amount so repaid, prepaid or accelerated if such repayment, prepayment or acceleration occurs at any time thereafter (the “Prepayment Charge”), which Prepayment Charge shall be due and payable on such date of repayment, prepayment or acceleration and shall be in addition to the principal balance of such Advance (or portion thereof) and any accrued and unpaid interests and any other amounts then due and payable hereunder.

Prepayment Charge. Borrower shall have the right, at its election, to prepay the Term Loan as a whole at any time, or in part from time to time, provided Borrower pays ORIX at the time of such prepayment (whether such prepayment is made voluntary or upon acceleration) the following prepayment charge: (i) 2% of the principal amount prepaid on or prior to July , 2010; and (ii) 1% of the principal amount prepaid at any time thereafter.

Prepayment Charge. Borrower agrees that the Prepayment Charge is a reasonable calculation of Lender’s lost profits in view of the difficulties and impracticality of determining actual damages resulting from an early repayment of the Term Loan. In addition, Borrower agrees that such Prepayment Charge shall be payable if any portion of the Term Loan is repaid (whether as a result of acceleration, whether voluntarily or involuntarily mandatory repayments or otherwise) but not on account of any prepayment arising under Sections 2.6(d) or 2.6(g) hereof.

Prepayment Charge. (i) Except as provided in Section 4(b)(ii), Borrower must pay the Prepayment Charge specified in Section 1 in connection with any Prepayment under this Note, whether voluntary or involuntary or resulting from a default by Borrower. (ii) Notwithstanding Section 4(b)(i), no Prepayment Charge will be payable with respect to any of the following: Any Prepayment made during the Window Period (as defined on Schedule 1). Any Prepayment occurring as a result of the application of any Insurance proceeds. Any Prepayment occurring as a result of the application of any Condemnation award, or otherwise required under the terms of the Loan Agreement in connection with a Condemnation, unless (A) the Condemnation is intended to result in the continued use of the Mortgaged Property subject to the Condemnation for residential purposes, or (B) applicable law expressly requires or permits that the condemning authority or acquiring entity reimburse prepayment charges incurred in connection with a prepayment occurring as a result of a Condemnation; in either of the situations described in (A) or (B) above, a Prepayment Charge will be due to the extent permitted by applicable law.

Prepayment Charge. Borrower will be required to pay a Prepayment charge in connection with certain prepayments of the Indebtedness, including a payment made after ▇▇▇▇▇▇’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.