Examples of Optional Prepayment in a sentence
REPAYMENTS, PREPAYMENTS, INTEREST AND FEES 14 4.1. Repayment of Construction/Term Loan Borrowings 14 4.2. [Reserved] 14 4.3. Interest Payment Dates 14 4.4. Interest Rates 15 4.5. Conversion Options 16 4.6. Post-Maturity Interest Rates; Default Interest Rates 17 4.7. Interest Rate Determination 17 4.8. Computation of Interest and Fees 17 4.9. Optional Prepayment 18 4.10.
WHEREAS, Velocity and Marquis entered into that certain letter agreement, dated March 31, 2009, pursuant to which (i) Velocity made an Optional Prepayment (as defined in the Senior Secured note) pursuant to Section 3(a) of the Senior Secured Note, in the amount of $2,000,000 (the “Prepayment”), and (ii) the outstanding principal of the Senior Secured Note was reduced by $2,192,500 upon Marquis’ receipt of the Prepayment.
In the event the Borrower delivers the Optional Prepayment Amount to the Lender prior to the Optional Prepayment Date, the Optional Prepayment Amount shall not be deemed to have been paid to the Lender until the Optional Prepayment Date.
The mortgage bears interest at 6.99% per annum through July 11, 2008, (the "Optional Prepayment Date") and thereafter at a rate equal to the greater of 8.4% plus 5.0% or the Treasury Rate, as defined, plus 6.5% until the earlier of the date the mortgage is paid in full or its maturity date of July 11, 2028.
REPAYMENTS, PREPAYMENTS, INTEREST AND FEES 23 4.1. Repayment of Construction/Term Loan Borrowings 23 4.2. Repayment of Revolving Loan Borrowings 24 4.3. Interest Payment Dates 24 4.4. Interest Rates 25 4.5. Conversion Options 25 4.6. Post-Maturity Interest Rates; Default Interest Rates 26 4.7. Interest Rate Determination 27 |US-DOCS\137622719.74|| 4.8. Computation of Interest and Fees 27 4.9. Optional Prepayment 27 4.10.