Common use of Prepayment Restrictions Clause in Contracts

Prepayment Restrictions. On any Due Date occurring on or after the date that is three (3) months prior to the Anticipated Repayment Date, all or any portion of the principal balance hereof may be prepaid, at Maker's option, in full or in part, without penalty or premium; PROVIDED, HOWEVER, that the requirements of SECTION 2.10 of the Loan Agreement shall have been satisfied. In addition, a portion of the principal amount hereof may be prepaid prior to the first day of the Defeasance Period, upon satisfaction of the conditions in SECTION 2.7 of the Loan Agreement but without payment of a Yield Maintenance Payment, in connection with a Casualty or Taking (PROVIDED THAT the Mortgage does not require a Restoration of the applicable Mortgaged Property). Neither Holder nor, following the Securitization, the Trustee or the Servicer shall be required to accept or apply any prepayment requiring payment of a Yield Maintenance Payment, as provided in this paragraph or in SECTION 1.3 hereof, unless such prepayment is accompanied by the payment of such Yield Maintenance Payment, and if any legal and other expenses are due and owing to Holder, Trustee or Servicer in connection with such prepayment under the terms of the Pooling and Servicing Agreement or any Loan Document, neither Holder nor the Servicer shall be required to accept or apply any prepayment unless the prepayment also is accompanied by the amount that is due and payable to Holder, Trustee or Servicer with respect to such expenses. Except as provided above, this Mortgage Note may not be prepaid.

Prepayment Restrictions. On any Due Date occurring on or after the date that is three (3) months prior to the Anticipated Repayment Date, all or any portion of the principal balance hereof may be prepaid, at Maker's option, in full or in part, without penalty or premium; PROVIDEDprovided, HOWEVERhowever, that the requirements of SECTION 2.10 of the Loan Agreement shall have been satisfied. In addition, a portion of the principal amount hereof may be prepaid prior to the first day of the Defeasance Period, upon satisfaction of the conditions in SECTION 2.7 of the Loan Agreement but without payment of a Yield Maintenance Payment, in connection with a Casualty or Taking (PROVIDED THAT provided that the Mortgage does not require a Restoration of the applicable Mortgaged Property). Neither Holder nor, following the Securitization, the Trustee or the Servicer shall be required to accept or apply any prepayment requiring payment of a Yield Maintenance Payment, as provided in this paragraph or in SECTION 1.3 hereof, unless such prepayment is accompanied by the payment of such Yield Maintenance Payment, and if any legal and other expenses are due and owing to Holder, Trustee or Servicer in connection with such prepayment under the terms of the Pooling and Servicing Agreement or any Loan Document, neither Holder nor the Servicer shall be required to accept or apply any prepayment unless the prepayment also is accompanied by the amount that is due and payable to Holder, Trustee or Servicer with respect to such expenses. Except as provided above, this Mortgage Note may not be prepaid.