Involuntary Prepayment definition

Involuntary Prepayment means an amount or amounts that Mortgagee receives representing (i) insurance proceeds or other payments as a result of a Casualty or (ii) Awards or other payments made in connection with a Taking. If Mortgagee elects to apply the proceeds of insurance collected upon any Casualty or the proceeds of the Award collected upon any Taking to the payment of the Debt and the amount of such proceeds so applied do not pay the Debt in full, Mortgagor shall have the right on any of the next four (4) regularly scheduled payment dates under the Note to prepay the entire remaining outstanding Debt together with an additional amount equal to the greater of (1) the Yield Maintenance Premium calculated pursuant to Paragraph 11 of the Mortgaged Property that would be required hereunder if the remaining outstanding unpaid principal balance of the Note were the subject of a defeasance pursuant to said Paragraph 11 or (2)(A) if the prepayment of such remaining outstanding portion of the Debt is made prior to the First Defeasance Date, two percent (2%) of such remaining outstanding unpaid principal balance or (B) if the prepayment of such remaining outstanding portion of the Debt is made on or after the First Defeasance Date (excluding, however, during the four (4) months preceding the scheduled Maturity Date), one percent (1%) of such remaining outstanding unpaid principal balance. Any application to the Debt pursuant to this Subparagraph 4(a)(v) shall be applied to those payments of principal and interest last due under the Note but shall not postpone any payments otherwise required pursuant to the Note other than such last due payments.
Sample 1Sample 2Sample 3
Involuntary Prepayment means an amount or amounts that Beneficiary receives representing (i) insurance proceeds or other payments as a result of a Casualty, or (ii) Awards or other payments made in connection with a Taking, and applied to the payment of the principal amount of the Debt. If Beneficiary elects to apply the proceeds of insurance collected upon any Casualty or Award collected upon any Taking to the payment of the Debt and the amount of such proceeds so applied do not pay the Debt in full, Trustor shall have the right on the next regularly scheduled payment date under the Note to prepay the entire remaining outstanding Debt together with an additional amount equal to the greater of (1) the Yield Maintenance Premium, if any, that would be required hereunder if such remaining outstanding portion of the Debt had been defeased, or (2) three percent (3%) of such remaining outstanding balance.
Sample 1Sample 2
Involuntary Prepayment means an amount or amounts that Lender receives representing (i) insurance proceeds or other payments as a result of a Casualty, or (ii) Awards or other payments made in connection with a Taking, and applies to the payment of the principal amount of the Debt. If Lender elects to apply the proceeds of insurance collected upon any Casualty or Award collected upon any Taking to the payment of the Debt and the amount of such proceeds so applied do not pay the Debt in full, Borrower shall have the right on the next regularly scheduled payment date under the Note to prepay the entire remaining outstanding Debt together with an additional amount equal to the greater of (1) the Yield Maintenance Premium, if any, that would be required hereunder if such remaining outstanding portion of the Debt had been defeased, or (2) one percent (1%) of such remaining outstanding balance. Any application to the Debt pursuant to this Subparagraph 4(a)(iv) shall (I) be applied to those payments of principal and interest last due under the Note but shall not postpone any payments otherwise required pursuant to the Note other than such last due payments and (II) cause the Note to be re-amortized in accordance with its terms and conditions.
Sample 1

Examples of Involuntary Prepayment in a sentence

  • Ginnie Mae had no part in the development of the PLD model and makes no representation as to the accuracy or reliability of the PLD model.Project Loan DefaultMortgage Loan Age (in months)(1) Involuntary Prepayment Default Rate(2) (1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed since the Issue Date indicated on Exhibit A.

  • Project Loan DefaultMortgage Loan Age (in months)(1) Involuntary Prepayment Default Rate(2) (1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed since the Issue Date indicated on Exhibit A.

  • Ginnie Mae had no part in the development of the PLD model and makes no representation as to the accuracy or reliability of the PLD model.Project Loan DefaultMortgage Loan Age (in months)(1) Involuntary Prepayment Default Rate (2) (1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed since the Issue Date indicated on Exhibit A.

  • Ginnie Mae had no part in the development of the PLD model and makes no representation as to the accuracy or reliability of the PLD model.Project Loan DefaultMortgage Loan Age (in months)(1) Involuntary Prepayment Default Rate(2) (1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed since the Issue Date indicated on Exhibit A.(2) Assumes that involuntary prepayments start immediately.

  • Mortgage Loan Age (in months)(1)Project Loan Default Involuntary Prepayment Default Rate(2)1-12 .

  • Ginnie Mae had no part in the development of the PLD model and makes no representation as to the accuracy or reliability of the PLD model.Project Loan DefaultMortgage Loan Age (in months)(1) Involuntary Prepayment Default Rate (2) (1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed since the Issue Date indicated on Exhibit A.(2) Assumes that involuntary prepayments start immediately.

  • Each Casualty/Condemnation Involuntary Prepayment shall be made in accordance with the Loan Agreement.

  • Project Loan Default Mortgage Loan Age Involuntary Prepayment Default (in months)(1) Rate (2) 1-12 1.30%13-25 2.5723-36 2.3137-58 2.2059-60 2.1361-72 1.5673-85 1.2683-96 0.8097-108 0.37109-168 0.30169-250 0.23251-matltity 0.00 (1) Fot gltgoses of the PbD modeh, Iottgage boan Δge means the nlmbet of months ehagsed since the Issle Date indicated on Exhibit Δ.

  • Ginnie Mae had no part in the development of the PLD model and makes no representation as to the accuracy or reliability of the PLD model.Project Loan DefaultMortgage Loan Age Involuntary Prepayment Default (in months)(1) Rate (2)1-12 ..........

  • Ginnie Mae had no part in the development of the PLD model and makes no representation as to the accuracy or reliability of the PLD model.Project Loan Default Mortgage Loan Age (in months)(1) Involuntary Prepayment Default Rate(2) (1) For purposes of the PLD model, Mortgage Loan Age means the number of months elapsed since the Issue Date indicated on Exhibit A.

Related to Involuntary Prepayment

  • Voluntary Prepayment means a prepayment of principal of Term Loans pursuant to Section 2.05(a) in any year to the extent that such prepayment reduces the scheduled installments of principal due in respect of Term Loans as set forth in Section 2.07 in any subsequent year.

  • Discounted Voluntary Prepayment has the meaning specified in Section 2.05(d)(i).

  • Discounted Voluntary Prepayment Notice has the meaning specified in Section 2.05(d)(v).

  • Mandatory Prepayment is defined in Section 2.4(a).

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Mandatory Prepayments means the prepayments of the Loans required by Section 3.5 hereof.

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.

  • ECF Prepayment Amount has the meaning assigned to such term in Section 2.11(b)(i).

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Mandatory Prepayment Event has the meaning specified in Section 2.03(b)(i).

  • Prepayments means any moneys which shall be paid to the Issuer prior to the time such amounts become due. Prepayments shall not include any interest paid on such moneys.

  • Waivable Mandatory Prepayment as defined in Section 2.15(c).

  • Borrower Offer of Specified Discount Prepayment means the offer by the Borrower to make a voluntary prepayment of Term Loans at a specified discount to par pursuant to Section 2.11(a)(ii)(B).

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Debt Incurrence Prepayment Event means any issuance or incurrence by the Borrower or any of the Restricted Subsidiaries of any Indebtedness (excluding any Indebtedness permitted to be issued or incurred under Section 10.1 other than Section 10.1(o) or, except to the extent accompanied by a corresponding reduction of the Revolving Credit Commitments Section 10.1(y)).

  • Principal Prepayment Any payment of principal or other recovery on a Mortgage Loan, including a recovery that takes the form of Liquidation Proceeds or Insurance Proceeds, which is received in advance of its scheduled Due Date and is not accompanied by an amount as to interest representing scheduled interest on such payment due on any date or dates in any month or months subsequent to the month of prepayment.

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Full Prepayment Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Specified Discount Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Specified Discount Prepayment Notice means an irrevocable written notice of a Borrower Offer of Specified Discount Prepayment made pursuant to Section 2.11(a)(ii)(B) substantially in the form of Exhibit I.

  • Principal Prepayment Period The month preceding the month in which the related Remittance Date occurs.

  • Principal Prepayment in Full Any Principal Prepayment made by a Mortgagor of the entire principal balance of a Mortgage Loan.

  • Partial Prepayment Any payment of principal on a Mortgage Loan, other than a Full Prepayment, which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Excess Prepayment Interest Shortfall With respect to any Distribution Date, the aggregate of any Prepayment Interest Shortfalls resulting from any Principal Prepayments made on the Mortgage Loans to be included in the Aggregate Available Funds for such Distribution Date that are not covered by the Master Servicer’s Compensating Interest Payment for such Distribution Date and/or the portion of any compensating interest payments allocable to any Outside Serviced Mortgage Loan to the extent received from the related Outside Master Servicer.

  • Initial Prepayment shall have the meaning set forth in Section 7.2 of this Agreement.