Prepayment Rights Sample Clauses
The Prepayment Rights clause defines the borrower's ability to pay off all or part of a loan before its scheduled maturity date. Typically, this clause outlines whether prepayment is allowed without penalty, or if certain fees or conditions apply, such as notice requirements or limits on the timing and amount of prepayments. Its core function is to provide flexibility for the borrower to reduce interest costs or manage debt more efficiently, while also protecting the lender from potential losses due to early repayment.
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Prepayment Rights. The Board of Directors may, in its sole discretion, cause the prepayment to Employee of any number of shares of Bank Stock to be applied toward future Annual Stock Awards to which Employee may become entitled. All shares of Bank Stock that are prepaid to Employee shall be subject to the same restrictions imposed on the shares distributed with respect to the Annual Stock Awards.
Prepayment Rights. Maker acknowledges that it possesses no right to prepay the Loan, except as expressly provided herein. Maker further acknowledges and agrees that, except as expressly provided herein, if the Loan is prepaid prior to the scheduled Maturity Date, for any reason, including, but not limited to, acceleration of the Maturity Date by reason of an Event of Default, any subsequent tender of payment of the Loan made by Maker or by anyone on behalf of Maker or otherwise, including any tender of payment at any time prior to or at foreclosure sale or proceedings or during any redemption period following foreclosure, or during any federal or state bankruptcy or insolvency proceedings, shall constitute an evasion of the restrictions on prepayment set forth herein, and shall be deemed a voluntary prepayment prior to the scheduled Maturity Date requiring payment of the prepayment premium provided for, if any, and Holder shall not be required to accept such prepayment if it does not include payment of the prepayment premium provided for, if any. Further, Holder’s acceptance of such prepayment without the requisite prepayment premium shall not constitute or be deemed to constitute a waiver by Holder of its right to seek payment of the required prepayment premium in accordance with the terms hereof or any rights and remedies Holder may have under this Note, the other Loan Documents, at law or in equity on account of Maker’s failure to timely pay such prepayment premium as and when required hereunder. To the extent permitted by law, Holder may bid at any foreclosure sale, as part of the indebtedness evidenced by the Loan Documents, the amount of the prepayment premium, if any, which is payable hereunder calculated as if prepayment of the Loan occurs on the date of such foreclosure sale. To the extent the amount of the indebtedness evidenced by this Note must be determined as of a date certain pursuant to a judicial foreclosure, the Loan will be deemed prepaid as of the date judgment enters and the prepayment premium due and payable hereunder (if any) will be calculated as if prepayment of the Loan occurred on the date of said judgment.
Prepayment Rights. 9 2.06. Right of First and Last Refusal................................ 10 2.07. Interest Rate Cap/Hedge........................................ 11
Prepayment Rights. The right to make prepayment for extinguishment of the Note pursuant to Section 2.3 of the second Amendment dated March 22, 1996, shall be modified to an amount of Three Hundred Thousand and no/100 Dollars ($300,000.00) for the period ending September 30, 1996. III.
Prepayment Rights. Upon ten (10) days' prior written notice to the holder of the Note, the Company shall have the right to prepay in whole or in part, without penalty or premium, the unpaid principal amount of and accrued interest on the Note. Such notice shall specify the proposed date and amount of payment. Notwithstanding notice of prepayment, with respect to the Note, Purchaser will continue to have the right to convert all or any portion of such Note, and any accrued but unpaid interest thereon, into Conversion Shares during such ten (10) day period, as more particularly set forth in the Note.
Prepayment Rights. The Borrower may choose to repay the Loan, either in part or in full, at any time without being subject to any penalties or additional charges.
Prepayment Rights. The Authority shall be entitled to prepay its Loan Payments with respect to a particular Schedule, in whole but not in part, on any date on which a Loan Payment is due from and after the Loan Payment date on or next following the date when one half of the Agreement term has passed, upon written notice delivered at least thirty (30) days in advance of any date on which a Loan Payment is due, and upon the payment on such date of the Loan Payment due and the applicable Prepayment Price, which prepayment price will be without premium if paid from prepayments made by the County pursuant to Section 7.02 of the Sublease and at all other times will be at the Prepayment Price set forth in the Schedule.
Prepayment Rights. For a Project Loan made by a Sony/Block Related Party, the Partnership shall have the right to prepay all or any portion of the principal of such Project Loan at any time without payment of any premium or penalty. For any other Project Loan, Sony/Block shall attempt, but shall not be obligated, to obtain an agreement from the lender permitting the Partnership to have the right to prepay all or any portion of the principal balance of such Project Loan at any time without payment of any premium or penalty.
Prepayment Rights. At any time both NMHI or a third party on NMHI's behalf shall have the right to prepay the then outstanding Settlement Amount in full, without penalty, provided that NMHI is not in default at the time of prepayment . - 8 -
Prepayment Rights. The Company may prepay the outstanding balance at any time with no penalty, provided the total paid equals 1.5x the disbursed principal at the time of repayment.