Yield Maintenance Premium. If, for any reason, the Loan is involuntarily prepaid prior to the third anniversary of the Funding Date (including, by reason of an acceleration following the occurrence of an Event of Default), Borrower shall, concurrently with such prepayment, pay to Lender an amount equal to the greater of (x) 1% and (y) the positive difference, if any, between (i) the net present value of the remaining payments of principal and interest (including the payment on the Maturity Date) discounted at the Reinvestment Rate expressed in monthly terms (not compounded), determined one Business Day prior to such prepayment, and (ii) the principal amount of the Loan, as at the date of such prepayment.
Appears in 2 contracts
Sources: Loan Agreement (American Retirement Corp), Loan Agreement (American Retirement Corp)