Premium definition
Examples of Premium in a sentence
Notwithstanding the foregoing, no Yield Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.3.2, but, for the avoidance of doubt, any Breakage Costs shall be due and payable in connection therewith.
No Prepayment Premium shall be due and payable on the Equipment Notes as a consequence of the redemption of all or a portion of Equipment Notes in connection with curing a Collateral Trigger Event.
Upon the commencement of ▇▇▇▇▇▇▇▇’s obligation to pay the Monthly Insurance Premium Deposit hereunder, if any, Borrower shall pay to Lender an initial deposit to be determined by Lender, in its reasonable discretion, to increase the amounts in the Tax and Insurance Escrow Fund to an amount which, together with anticipated Monthly Insurance Premium Deposits, shall be sufficient to pay all Insurance Premiums as they become due.
Each Equipment Note shall bear interest, payable on demand, at the Payment Due Rate (calculated on the basis of a year of 360 days comprised of twelve 30-day months) on any part of the Original Amount, Prepayment Premium, if any, and, to the extent permitted by applicable Law, interest and any other amounts payable thereunder not paid when due for any period during which the same shall be overdue, in each case for the period the same is overdue.
For the avoidance of doubt, for such period of time as the Mortgage Tax and Insurance Premium Account is maintained pursuant to the terms of the Mortgage Loan Agreement, Borrower shall have no obligation to establish or maintain the same with Lender pursuant to this Section 3.1(c).