Common use of Prepayment Provision Clause in Contracts

Prepayment Provision. The Mortgage Loan will be prepayable in whole or in part during its Term in accordance with the provisions of this paragraph. The Mortgage Loan will have a prepayment fee of ____% of the principal amount prepaid in loan years one and two and ____% of the principal amount prepaid in loan years three and four; provided, however, that there will be a right to prepay up to a portion of the principal of the Mortgage Loan equal to $100 million less the Sale Reduction Amount as of the Closing Date within the first nine (9) months of the Term, but in no event later than May 31, 2000, with a prepayment fee of ____% of the principal amount prepaid. No prepayment fee shall be payable in connection with (i) the payments required pursuant to the section hereof entitled "Amortization", (ii) involuntary prepayments due to casualty or condemnation or (iii) prepayments made to obtain an extension of the Term of the Mortgage Loan pursuant to the section hereof entitled "Extension Conditions". 225 EXHIBIT A Page 8 RELEASE: Borrower may obtain the release of a Property from the liens and security interests securing the Mortgage Loan in connection with a sale or refinancing of such Property, subject to the Prepayment Provision set forth above and subject to certain customary release provisions, including, but not limited to, the following: