Default Prepayment definition

Default Prepayment means a prepayment of the principal amount of this Note made during the continuance of any Event of Default or after an acceleration of the Maturity Date under any circumstances, including, without limitation, a prepayment occurring in connection with reinstatement of any Security Instrument provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower or any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of a power of sale or otherwise.

Default Prepayment shall have the respective meanings assigned thereto in the Mortgage Note for the related Mortgage Loan.

Default Prepayment means a prepayment of the principal amount of the Note made after the occurrence of any Event of Default or an acceleration of the Maturity Date (as defined in the Note) under any circumstances, including, without limitation, a prepayment occurring in connection with reinstatement of this Security Instrument provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower or any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of a power of sale or otherwise.

Examples of Default Prepayment in a sentence

• Notwithstanding anything to the contrary contained herein, upon the occurrence of an Event of Default described i n Sections 2.1 (a)-(j)) and 2.1 (m)- (o) hereof, the Holder shall have the right, at such Holder's option, to require the Company to prepay in cash all or a portion of this Note at a price equal to one hundred twenty percent (120%) of the aggregate principal amount of this Note plus all accrued and unpaid interest applicable at the time of such request (the "Event of Default Prepayment Price").

• If a Default Prepayment (defined herein) occurs prior to the date which is six months prior to the Maturity Date, Borrower shall pay to Lender the entire Debt, including, without limitation, the Prepayment Consideration.

• The number of “remaining” Partial Monthly Payments of Interest to be used in the calculation of the Default Prepayment Fee shall be equal to the number of remaining monthly installments of interest due on the Loan to and including the Maturity Date.

• Notwithstanding anything to the contrary contained herein, upon the occurrence of an Event of Default described in Sections 2.1(c)-(j) hereof, the Holder shall have the right, at such Holder’s option, to require the Maker to prepay in cash all or a portion of this Note at a price equal to the Triggering Event Prepayment Price (as defined in Section 3.3(c) below) applicable at the time of such request (the “Event of Default Prepayment Price”).

• Exchange of this Note for a different instrument or modification of the terms of this Note, including classification and treatment of Lender’s claim (other than non-impairment under Section 1124 of the United States Bankruptcy Code or any successor provision) pursuant to a plan of reorganization in bankruptcy shall also be deemed to be a Default Prepayment hereunder.

More Definitions of Default Prepayment

Default Prepayment means a prepayment of the principal amount of this Agreement and the Notes made after the acceleration of the Maturity Date under any circumstances, including, without limitation, a prepayment occurring after an Event of Default or in connection with reinstatement of the Security Instrument provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower or any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of a power of sale or otherwise.

Default Prepayment means a prepayment of the principal amount of and accrued interest on the Note and any other amounts due under the Indenture made after the occurrence of any Event of Default and an acceleration of the maturity of the Note or an acceleration of the Maturity Date under any circumstances, including, without limitation, a prepayment occurring in connection with reinstatement of this Security Instrument provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower or any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of a power of sale or otherwise.

Default Prepayment means a prepayment of the principal amount of the Note made after the occurrence of any Event of Default or an acceleration of the Maturity Date (as defined in the Note) under any circumstances, including, without limitation, a prepayment occurring in connection with reinstatement of this Security Instrument provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower or any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of a power of sale or otherwise. Article 10 - DEFAULT

Default Prepayment has the meaning assigned to such term in Section 2.03(a).

Default Prepayment means a prepayment of all or any portion of the principal amount of the Loans made after the acceleration of the Loans in accordance with the terms and conditions of this Agreement; (3) the term “Lockout Prepayment” means the voluntary prepayment in full (but not in part) of the Loans during the Lockout Period, subject to the payment of the Lockout Period Prepayment Penalty, and otherwise in accordance with the terms and conditions of this Agreement; and (4) the term “Lockout Period Prepayment Penalty” shall mean an amount equal to the difference between (1) the amount of interest that Lenders would have earned on the Loans during the Lockout Period (which, for the period from and after the date a Lockout Prepayment or Default Prepayment, as applicable, occurs, shall be based on a fixed rate per annum equal to the then applicable rate of interest applicable to LIBOR Rate Loans in effect just prior to the occurrence of the applicable Lockout Prepayment or Termination Event resulting in the Default Prepayment), as applicable, and (2) the amount of interest actually paid to Lenders through and including the date of the Lockout Prepayment or Default Prepayment, as applicable.

Default Prepayment means a prepayment of any portion of the Outstanding Principal Balance made after the occurrence of a Default or Event of Default under any circumstances including a prepayment in connection with (i) reinstatement of the Mortgage provided by statute under foreclosure proceedings or exercise of power of sale, (ii) any statutory right of redemption exercised by Borrower or any other party having a statutory right to redeem or prevent foreclosure or power of sale, (iii) any sale in foreclosure or under exercise of a power of sale or otherwise (including pursuant to a credit bid made by Lender in connection with such sale), (iv) any other collection action by Lender, or (v) exercise by any Governmental Authority of any civil or criminal forfeiture action with respect to any collateral for the Loan. Prepayment Consideration shall be due and payable upon acceleration of the Loan in accordance with the terms of this Note, and the “Prepayment Date”, for the purpose of computing Prepayment Consideration, shall be the date of acceleration (automatic or otherwise) of the Obligations in accordance with the terms of the Loan Documents. Exchange of any portion of the Obligations or the related Loan Documents for a different instrument or modification of the terms of the Loan Documents, including classification and treatment of Lender’s claim (other than non-impairment under Section 1124 of the United States Bankruptcy Code or any successor provision) pursuant to a plan of reorganization in bankruptcy shall also be deemed to be a Default Prepayment hereunder.

Default Prepayment means a prepayment of the principal amount of the Loan made prior to the expiration of the Lockout Period and after the occurrence of any Event of Default or an acceleration of the Maturity Date under any circumstances, including, without limitation, a prepayment occurring in connection with reinstatement of the Mortgage provided by statute under foreclosure proceedings or exercise of a power of sale, any statutory right of redemption exercised by Borrower or any other party having a statutory right of redemption exercised by Borrower or USActive 32926859.13 -6- any other party having a statutory right to redeem or prevent foreclosure, any sale in foreclosure or under exercise of a power of sale or otherwise.