Voluntary Prepayment; Mandatory Prepayment Sample Clauses
Voluntary Prepayment; Mandatory Prepayment. (a) Borrower may voluntarily prepay the Loan in whole or in part on any Business Day (and shall prepay the Loan pursuant to Section 3.5(d) and in connection with the release of any Property pursuant to Section 2.2), except that no prepayments shall be permitted during the last two Business Days in any Interest Accrual Period unless such prepayment is accompanied by interest in respect of the next succeeding Interest Accrual Period as set forth in the next sentence. Each such prepayment shall be accompanied by (i) the amount of interest theretofore accrued but unpaid in respect of the principal amount so prepaid; plus (ii) the amount of interest which would have accrued on the principal amount so prepaid had it remained outstanding through the end of the Interest Accrual Period in which such prepayment is made (plus, without duplication, in the case of a prepayment during the last two Business Days during an Interest Accrual Period, the amount of interest which would have accrued on the principal amount so prepaid had it remained outstanding through the end of the Interest Accrual Period following the Interest Accrual Period in which such prepayment is made); and for avoidance of doubt, no interest shall be payable in respect of the amount so prepaid after payment of the amounts set forth herein on the date of such prepayment. In addition, if such prepayment is made during the Spread Maintenance Period, such prepayment shall be accompanied by the applicable Spread Maintenance Amount; provided, however, that no Spread Maintenance Amount shall be payable with respect to (x) the first $50 million of prepayments in the aggregate that are made in connection with releases of Properties pursuant to Section 2.2 or (y) any prepayment of the Loan made pursuant to Section 3.5(d), except for any portion thereof constituting a Borrower Election Amount for which the applicable Spread Maintenance Amount shall be payable. In the event that Borrower makes a prepayment of the Loan in accordance with the provisions of this Agreement on a Business Day that falls from and including the second to last day in an Interest Accrual Period to but excluding the first succeeding Interest Determination Date immediately following such Payment Date (each such period, an “Assumed Note Rate Period”), it may be impossible for Borrower and Lender to calculate with certainty the interest that would have accrued at the applicable interest rate on the amount then prepaid through the end of the I...
Voluntary Prepayment; Mandatory Prepayment. (a) At any time, Borrower may voluntarily prepay the Loans in whole but not in part, together with accrued and unpaid Fixed Interest on the amount prepaid, together with any additional amounts due in respect thereof to the extent required by clause (c) below and all other Obligations then outstanding together with other amounts in respect thereof.
(b) If any Prepayment Trigger occurs, then the Lender shall have the right, but not the obligation, to require Borrower to prepay the Loans, together with accrued and unpaid Fixed Interest together with other amounts in respect thereof, pursuant to clause (c) below.
(c) Each prepayment of the Loans due to the occurrence of a Prepayment Trigger, and each voluntary prepayment of the Loans in whole pursuant to Section 3.02(a), shall be subject to the following (in addition to the other provisions contained in this Agreement): Such prepayment shall be in the amount indicated in the second column of the table below (determined as of the date of the Prepayment Trigger or voluntary prepayment): On or prior to December 31, 2014 130% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans After December 31, 2014 and on or prior to December 31, 2015 140% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans After December 31, 2015 and on or prior to December 31, 2016 150% of the Aggregate Loan Amount, less any payments of accrued Fixed Interest previously made to the Lender in respect of the Loans After December 31, 2016 and on or prior to December 31, 2017 112% of the Outstanding Principal Amount After December 31, 2017 and on or prior to December 31, 2018 108% of the Outstanding Principal Amount After December 31, 2018 and on or prior to December 31, 2019 104% of the Outstanding Principal Amount After December 31, 2019 and on or prior to December 31, 2020 100% of the Outstanding Principal Amount
(d) In addition to the amounts in clause (c) above, in connection with the prepayment in full of a Loan, any unpaid amounts in respect of such prepaid Loan not consisting of principal or Fixed Interest (i.e., any unpaid amounts for indemnification, tax gross-up, default interest, expense reimbursement and other obligations not consisting of principal or interest) shall be immediately due and payable.
Voluntary Prepayment; Mandatory Prepayment. (a) Borrower may voluntarily prepay the Loan in whole but not in part, in cash, at any time, together with accrued and unpaid Fixed Interest on the amount prepaid, together with any additional amounts due in respect thereof pursuant to clause (c) below, and all other Obligations then outstanding together with all other amounts in respect thereof.
(b) If any Prepayment Trigger occurs, then the outstanding principal amount of the Loan plus any accrued and unpaid interest thereon shall be immediately due and payable hereunder, to the extent permitted by law, together, if applicable, with any additional amounts due in respect thereof pursuant to clause (c) or clause (d) below, as the case may be, and all other Obligations then outstanding together with all other amounts in respect thereof, and the provisions of this Section 3.02 shall apply.
(c) In the case of (i) a voluntary prepayment of the Loan pursuant to Section 3.02(a) occurring not later than ninety (90) days following the Prepayment Event Date with respect to a Prepayment Trigger or (ii) a voluntary prepayment of the Loan pursuant to Section 3.02(a) that occurs at any time that no uncured Prepayment Trigger exists, such prepayment shall be in the amount indicated in the second column of the table below (determined as of the Prepayment Event Date:
(a) as described in Section 3.02(c)(i) or 3.02(c)(ii) during the period below Prepayment Amount During the 30 month period commencing on the Closing Date 100% of the outstanding principal balance of the Loan at the date of occurrence of the Prepayment Trigger or the date fixed for such voluntary prepayment (such date, as the case may be, the “Prepayment Event Date”), plus an amount equal to all interest that would have accrued on such principal balance (assuming no further amortization thereof) during the period from such Prepayment Event Date through the end of such 30 month period After the 30 month period, and prior to the end of the 42 month period, following the Closing Date 103.0% of the outstanding principal balance of the Loan as at the Prepayment Event Date After the 42 month period, and prior to the end of the 54 month period, following the Closing Date 101.5% of the outstanding principal balance of the Loan as at the Prepayment Event Date After the 54 month period following the Closing Date and thereafter 100% of the outstanding principal balance of the Loan as at the Prepayment Event Date
(d) In the case of a prepayment due to a Prepayment Trigger...
Voluntary Prepayment; Mandatory Prepayment. (a) Borrower may prepay all or any part of the Loan at any time and from time to time upon five days prior written notice to Lender without cost or penalty.
(b) If the outstanding principal balance of the Loan at any time exceeds the maximum permitted amount set forth in Section 3.1 above, Borrower shall immediately repay the amount of such excess.
(c) Borrower must make a mandatory principal payment on the Loan equal to the aggregate amount of the Loan previously disbursed by Lender with respect to each Sold Unit nine months after the date on which the first draw of proceeds of the Loan for such Sold Unit was made. Borrower must make a mandatory principal payment on the Loan equal to the aggregate amount of the Loan previously disbursed by Lender with respect to each Spec Unit twelve months after the date on which the first draw of proceeds of the Loan for such Spec Unit was made. Borrower must make a mandatory principal payment on the Loan equal to the aggregate amount of the Loan previously disbursed by Lender with respect to each Model Unit eighteen months after the date on which the first draw of proceeds of the Loan for such Model Unit was made.
Voluntary Prepayment; Mandatory Prepayment. (a) The Borrower shall have the option, on any Interest Payment Date after the date of the three (3) year anniversary of the Drawdown Date (including the January 2, 2014 Interest Payment Date, and any Interest Payment Date thereafter), to prepay the Loan, in full or in part, subject to the following terms and conditions:
(i) The Borrower shall give to the Lender written notice of the proposed prepayment (the “First Prepayment Notice”) not less than ten (10) days prior to the date on which the Loan is proposed to be prepaid, which First Prepayment Notice shall state the amount proposed to be prepaid and the proposed prepayment date. The actual amount of the prepayment and the actual date of prepayment (the “Prepayment Date”) shall