Average Maturity Period definition

Average Maturity Period. The weighted average time to scheduled maturity of all principal prepaid at any one time. Average Maturity Period shall be computed by multiplying the dollar amount of each installment of principal prepaid by the number of days until the scheduled maturity of that installment, adding together the resulting products and dividing the resulting sum by the total dollar amount of principal being prepaid.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Average Maturity Period means, as of any prepayment date, the weighted average time period computed by multiplying the dollar amount of each installment or payment of principal prepaid by the number of days from such prepayment date until the earlier of the scheduled maturity of that installment or payment or the next Interest Change Date (if any), adding together the resulting products and dividing the resulting sum by the total dollar amount of principal being prepaid.

Average Maturity Period means the weighted average time to scheduled maturity of the amount prepaid. Average Maturity Period shall be computed by multiplying the dollar amount of each installment of principal prepaid by the number of days until the scheduled maturity of that installment, adding together the resulting products and dividing the resulting sum by the total dollar amount of principal being prepaid.

Examples of Average Maturity Period in a sentence

• The resulting product shall then be divided by the number of whole months (using a thirty-day month) in the Average Maturity Period, yielding a quotient (the "Quotient").

• The amount of the prepayment premium shall be calculated as follows: The amount prepaid shall be multiplied by the product of (A) the Interest Differential, and (B) a fraction, the numerator of which is the number of days in the Average Maturity Period and the denominator of which is 360.

• If at the time of any prepayment (whether voluntary or involuntary, including, without limitation, any payment prior to the scheduled maturity following acceleration of Term Loan A), the Interest Differential is greater than zero, the Borrower shall pay to the Lender a prepayment premium equal to the present value (determined in accordance with standard financial practice) of the product of (1) the Interest Differential, (2) the amount prepaid, and (3) the Average Maturity Period.

• The amount prepaid shall be multiplied by (a) the Interest Differential, times (b) a fraction, the numerator of which is the number of days in the Average Maturity Period and the denominator of which is 360.

• If, at the time of any prepayment pursuant to Section 2.2 or 2.3, the Interest Differential is greater than zero, the Borrowers shall jointly and severally pay to the Lender a prepayment premium equal to the present value (determined in accordance with standard financial practice) of the product of the Interest Differential times the amount prepaid times the Average Maturity Period.

• The amount of the prepayment premium shall be the present value (determined in accordance with standard financial practice) on the date of prepayment (using the Loan Rate as the discount factor) of a stream of equal monthly payment in number equal to the number of whole months (using a thirty-day month) in the Average Maturity Period, with the amount of each hypothetical monthly payment equal to the Quotient and with the first payment payable thirty days after the date of prepayment.

• The resulting product shall then be divided by the number of whole months (using a thirty day month) in the Average Maturity Period, yielding a quotient (the "Quotient").

• The amount of the prepayment premium shall be calculated as follows: The amount prepaid shall be multiplied by (a) the Interest Differential, times (b) a fraction, the numerator of which is the number of days in the Average Maturity Period and the denominator of which is 360.

More Definitions of Average Maturity Period

Average Maturity Period shall no longer be used and is hereby deleted.

Average Maturity Period. The weighted average time to scheduled maturity of all Term Loan principal prepaid at any one time. Average Maturity Period shall be computed by multiplying the dollar amount of each installment of Term Loan principal prepaid by the number of days until the scheduled maturity of that installment, adding together the resulting products and dividing the resulting sum by the total dollar amount of the principal being prepaid.