Effective Maturity Date definition
Examples of Effective Maturity Date in a sentence
The Borrower may, by written request to the Agent and the Lenders given not later than one hundred eighty (180) days prior to the Maturity Date then in effect (the “Effective Maturity Date”) request (an “Extension Request”) that such Effective Maturity Date be extended to a date which is twenty-four (24) months after such Effective Maturity Date.
Interest on the outstanding principal balance of each Component of the Loan shall accrue from and including the Effective Maturity Date to and including the Maturity Date at the Adjusted Interest Rate.
Lender shall have the right, at any time prior to the closing of a Securitization, to change the Maturity Date from the Maturity Date stated herein to the date of the Effective Maturity Date stated herein upon notice to Borrower (in which event such change shall then be deemed effective and all provisions of the Loan Documents with respect to periods after the Effective Maturity Date shall no longer apply.
Interest on the outstanding principal balance of each Component of the Loan shall accrue from the Closing Date up to but excluding the Effective Maturity Date at the Initial Interest Rate.
On any Debt Service Payment Date after the Effective Maturity Date, Borrower may, at its option and upon ten (10) days notice to Lender, prepay the Debt in whole or in part without payment of the Yield Maintenance Premium or any other premium or penalty.