Prepayment Premium or Penalty Sample Clauses

Prepayment Premium or Penalty. Each prepayment pursuant to Section 3.1 or 3.2 shall be without premium or penalty, provided, if any payment of principal of any LIBOR Rate Loan is made other than on the last day of the Interest Period for such Loan, as a result of a payment pursuant to Sections 3.1 or 3.2 or acceleration of the maturity of the Loans and the Notes pursuant to Section 10 or for any other reason, the Borrower shall, within 15 Business Days after receipt of Bank's demand, pay to the Bank any amounts required to compensate the Bank for additional losses, costs or expenses which it may reasonably incur as a result of such payment, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by the Bank to fund or maintain such Loan.
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Prepayment Premium or Penalty. Each prepayment pursuant to Section 3.1 shall be without premium or penalty.
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Prepayment Premium or Penalty. If Borrower prepays all or any part of the Term Loan in full prior to the first anniversary of the Closing Date, Borrower shall pay a prepayment premium in an amount equal to the sum of (a) the difference of (i) the amount of interest which would have been paid on the Loan for the first full year, minus (ii) the amount of interest actually paid, plus (b) three percent (3.0%) of the amount of such prepayment. If Borrower prepays all or any part of the Term Loan in full after the first anniversary, but prior to the second anniversary, of the Closing Date, Borrower shall pay a prepayment premium in an amount equal to two percent (2.0%) of the amount of such prepayment. Each prepayment pursuant to Section 4.2 made after the second anniversary of this Agreement shall be without premium or penalty. Notwithstanding anything to the contrary contained in the foregoing paragraph, in the event that all or any portion of the Term Loan is prepaid prior to the first anniversary of the Closing Date, the maximum amount payable to SBA Lender on the SBA Loan shall not exceed 105% of the principal amount prepaid.
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Prepayment Premium or Penalty. If Borrower exercises its option to prepay all or any part of the Term Loan in full pursuant to Section 4.2. prior to the first anniversary of the Closing Date, Borrower shall pay a prepayment premium in an amount equal to three percent (3.0%) of the amount of such prepayment, it being understood that no penalty shall be incurred with respect to a mandatory prepayment pursuant to Section 4.2. (b) . Each prepayment pursuant to Section 4.2. made after the first anniversary of this Agreement shall be without premium or penalty.
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Prepayment Premium or Penalty. Each prepayment pursuant to Section 3.1 or 3.2 shall be without premium or penalty, provided, if any payment of principal of any LIBOR Loan is made other than on the last day of the Interest Period for such Loan, as a result of a payment pursuant to Sections 3.1 or 3.2 or acceleration of the maturity of the Loans and the Note pursuant to Article X or for any other reason, the Borrowers shall, within 15 Business Days after receipt of Bank's demand, pay to the Bank any amounts required to compensate the Bank for additional losses, costs or expenses which it may reasonably incur as a result of such payment, including, without limitation, any loss (including loss of anticipated profits), cost or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by the Bank to fund or maintain such Loan. Notwithstanding any provision of this Agreement to the contrary, the Bank shall be entitled to fund and maintain its funding of all or any part of the Loans in any manner it sees fit, it being understood, however, that for the purposes of this Agreement all determinations hereunder shall be made as if the Bank had actually funded and maintained each LIBOR Loan during each Interest Period through the purchase of deposits having a maturity corresponding to such Interest Period and bearing an interest rate equal to LIBOR plus 2% for such Interest Period.
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Related to Prepayment Premium or Penalty

  • Prepayment Penalty Each Mortgage Loan that is subject to a Prepayment Penalty as provided in the related Mortgage Note is identified on the related Mortgage Loan Schedule. With respect to each Mortgage Loan that has a Prepayment Penalty feature, each such Prepayment Penalty is enforceable and will be enforced by the Seller during the period the Seller is acting as Interim Servicer for the benefit of the Purchaser, and each Prepayment Penalty is permitted pursuant to federal, state and local law. Each such Prepayment Penalty is in an amount not more than the maximum amount permitted under applicable law and no such Prepayment Penalty may be imposed for a term in excess of five (5) years with respect to Mortgage Loans originated prior to October, 1, 2002. With respect to Mortgage Loans originated on or after October 1, 2002, the duration of the Prepayment Penalty period shall not exceed three (3) years from the date of the Mortgage Note unless the Mortgage Loan was modified to reduce the Prepayment Penalty period to no more than three (3) years from the date of the related Mortgage Note and the Mortgagor was notified in writing of such reduction in Prepayment Penalty period. With respect to any Mortgage Loan that contains a provision permitting imposition of a premium upon a prepayment prior to maturity: (i) prior to the Mortgage Loan's origination, the Mortgagor agreed to such premium in exchange for a monetary benefit, including but not limited to a rate or fee reduction, (ii) prior to the Mortgage Loan's origination, the Mortgagor was offered the option of obtaining a mortgage loan that did not require payment of such a premium, and (iii) the Prepayment Penalty is disclosed to the Mortgagor in the mortgage loan documents pursuant to applicable state, local and federal law. This representation and warranty is a Deemed Material and Adverse Representation;

  • Prepayment Premiums As of the applicable date of origination of each such Mortgage Loan, any prepayment premiums and yield maintenance charges payable under the terms of the Mortgage Loans, in respect of voluntary prepayments, constituted customary prepayment premiums and yield maintenance charges for commercial mortgage loans.

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Prepayment Penalties 4. Any provisions in your consumer credit contract, loan, security, or account agreements that are determined to be inconsistent with or contradictory to these disclosures or the MLA (as they may be changed or amended from time to time) are inapplicable with regard to this loan. However, all other terms and conditions of the consumer credit contract shall remain in full force and effect.

  • Payment Prepayment All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty.

  • No Premium or Penalty Prepayments permitted or required under this Section 3.04 shall be without premium or penalty, except as required under Section 5.02.

  • Prepayment Prepayment of the Notes to be prepaid pursuant to this Section 8.7 shall be at 100% of the principal amount of such Notes, together with accrued and unpaid interest on such Notes accrued to the date of prepayment but without any Make-Whole Amount. The prepayment shall be made on the Change in Control Proposed Prepayment Date, except as provided by Section 8.7(f).

  • Prepayment Charges The Master Servicer will not waive any part of any Prepayment Charge unless the waiver relates to a default or a reasonably foreseeable default, the Prepayment Charge would cause an undue hardship to the related borrower, the Mortgaged Property is sold by the Mortgagor, the collection of any Prepayment Charge would violate any relevant law or regulation or the waiving of the Prepayment Charge would otherwise benefit the Trust Fund and it is expected that the waiver would maximize recovery of total proceeds taking into account the value of the Prepayment Charge and related Mortgage Loan and doing so is standard and customary in servicing similar Mortgage Loans (including any waiver of a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is related to a default or a reasonably foreseeable default). The Master Servicer will not waive a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is not related to a default or a reasonably foreseeable default.

  • Late Payment Penalty When a Member or a Specified Corporate User neglects to fulfill the executing monetary obligations under this Agreement, or an Individual Contract, the Member or a Specified Corporate User shall pay the delayed payment to DBS at an annual rate of 14.6% on a pro rata basis (calculated on a daily basis with a year being equal to 365 days).

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

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