Prepayments in Full Sample Clauses

The "Prepayments in Full" clause defines the borrower's right or obligation to pay off the entire outstanding balance of a loan before its scheduled maturity date. In practice, this clause outlines the conditions under which a borrower can make such a full prepayment, including any required advance notice to the lender and whether any penalties or fees apply. Its core function is to provide flexibility for borrowers who wish to settle their debt early, while also protecting the lender's interests by specifying any costs or procedures associated with early repayment.
Prepayments in Full. With respect to any Mortgage Loan which prepays in full on or prior to the date which is six (6) months after the related Closing Date, the Seller shall pay the Purchaser, within five (5) Business Days of such prepayment in full (or, if such prepayment in full occurs during the Interim Period, on or prior to the related Mortgage Loan remittance date following the pay-off date), (a) with respect to any Mortgage Loan without a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the unpaid principal balance as of the pay-off date of such Mortgage Loan, and (b) with respect to any Mortgage Loan with a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the sum of the unpaid principal balance as of the pay-off date of such Mortgage Loan and the Prepayment Penalty actually received by the Purchaser; provided that the Purchaser shall notify and invoice the Seller of any obligation to remit to the Purchaser the premium with respect to such Mortgage Loan pursuant to this Subsection 9.06 within one hundred eighty (180) days following the date on which such Mortgage Loan was paid in full for such claim(s) to be valid and enforceable.
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Prepayments in Full. With respect to each Mortgage Loan, the Servicer agrees to deliver on or prior to the fifth (5th) Business Day of each month to the Owner, a report setting forth information with respect to any prepayments in full with respect to such Mortgage Loan.
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Prepayments in Full. With respect to any Mortgage Loan which prepays in full on or prior to the date which is the earlier of six (6) months after the related Closing Date or (b) the date of the related net interest margin securitization, the Seller shall pay the Purchaser, within two (2) Business Days of such prepayment in full, (a) with respect to any Mortgage Loan without a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the outstanding principal balance of such Mortgage Loan as of the Cut-off Date, and (b) with respect to any Mortgage Loan with a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the sum of the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date and the Prepayment Penalty contractually due (regardless of whether modified, altered, waived or not collected by the related Successor Servicer).
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Prepayments in Full. 44 Section 4.26 Tax and Flood Service Contracts. 44
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Prepayments in Full. Notwithstanding any provision of this Section 2.04 to the contrary, in the event that any prepayments of any Revolving ------------ Credit Loans are made in connection with the termination of this Loan Agreement, such prepayments shall be made only upon five (5) Business Days' prior express written notice to the Lender.
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Prepayments in Full. Notwithstanding any term, condition or ------------------- provision of this Section 2.04 to the contrary, in the event that any ------------ prepayments of any Revolving Credit Loans are made in connection with the termination of this Loan Agreement, such prepayments shall be made only upon three (3) Business Days' prior express written notice to the Lender.
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Prepayments in Full. With respect to any Mortgage Loan which prepays in full during the first three (3) months following the related Closing Date, the Seller shall pay the Purchaser, within five (5) Business Days of such prepayment in full, (a) with respect to any Mortgage Loan without a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the outstanding principal balance of such Mortgage Loan as of the Cut-off Date, and (b) with respect to any Mortgage Loan with a Prepayment Penalty, an amount equal to the difference between (i) the Purchase Price (as adjusted) for such Mortgage Loan and (ii) the sum of the outstanding principal balance of such Mortgage Loan as of the related Cut-off Date and the Prepayment Penalty actually received by the Purchaser.
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Related to Prepayments in Full

  • Prepayments, Etc of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except (a) the prepayment of the Credit Extensions in accordance with the terms of this Agreement and (b) regularly scheduled or required repayments or redemptions of Indebtedness set forth in Schedule 7.02 and refinancings and refundings of such Indebtedness in compliance with Section 7.02(d).

  • Payments Reductions of Commitments Prepayments Promise to Pay; Promissory Notes.

  • Repayments and Prepayments The Borrower shall repay the Loans in fourteen equal semi-annual installments on the last day of each Interest Period, as set forth on Schedule II hereto. In addition, the Borrower (a) may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided that (i) any such prepayment shall be made pro rata among all Loans and applied in inverse order of maturity; (ii) all such voluntary prepayments shall require at least three Business Days (or, if such prepayment is to be made on the last day of an Interest Period for the Loans, two Business Days) prior written notice to the Administrative Agent; and (iii) all such voluntary partial prepayments shall be in an aggregate minimum amount of $10,000,000 and a multiple of $1,000,000 (or the remaining amount of the Loans being prepaid); and (b) shall, immediately upon any acceleration of the Stated Maturity Date of the Loans pursuant to Section 8.2 or 8.3 or the mandatory repayment of the Loans pursuant to Section 9.2, repay all Loans. Each prepayment of any Loans made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4, provided that any prepayment under this Agreement shall be made subject to payment by the Borrower to the Administrative Agent (for the account of the FEC Counterparty) of any FEC Break Costs on written demand by the FEC Counterparty, which demand shall set forth the amount of the FEC Break Costs and reasonably detailed calculations thereof.

  • Prepayments of Loans Other than in respect of Swingline Loans, the repayment of which is governed pursuant to Section 2.02(b), subject to Section 2.12, the Borrower may (i) upon at least one (1) Business Day’s notice to the Administrative Agent, prepay any Base Rate Borrowing or (ii) upon at least three (3) Business Days’ notice to the Administrative Agent, prepay any Euro-Dollar Borrowing, in each case in whole at any time, or from time to time in part in amounts aggregating $10,000,000 or any larger integral multiple of $1,000,000, by paying the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. Each such optional prepayment shall be applied to prepay ratably the Loans of the several Lenders included in such Borrowing.

  • Payments and Prepayments 1.1 Payments and prepayments of principal and interest on this Note shall be made to Payee at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇. 10604. 1.2 Payments and prepayments of principal and interest on this Note shall be made in lawful money of the United States of America. 1.3 If any payment on this Note becomes due and payable on a Saturday, Sunday or other day an which commercial banks in New York City are authorized or required by law to close, the maturity thereof shall be extended to the next succeeding business day, and, with respect to payments of principal, interest thereon shall be payable during such extension at the then applicable rate. 1.4 The Company shall be obligated to prepay the outstanding principal amount of this Note within ten (10) days after such time as (i) the Company receives net proceeds of at least $1,000,000 from an equity financing, or (ii) the Company sells substantially all its assets. The Company shall have the right at any time and from time to time to prepay this Note in whole or in part, together with interest on the amount prepaid to the date of prepayment, without penalty or premium. Upon payment of part of the principal amount of this Note, the Company may require the holder to present this Note for notation of such payment and, if this Note is paid in full, require the holder to surrender this Note. 1.5 Upon payrnent in full of all outstanding principal and interest due under this Note, the Company's obligations in respect of payment of this Note shall terminate and the holder shall return it to the Company.