Prepayment Fees definition
Examples of Prepayment Fees in a sentence
The Group will have a thirty (30) days grace period to remit the appropriate Prepayment Fees, when due, from receipt of notice, in which to remedy the default.
The Distribution Account shall be deemed to include the Prepayment Fees Distribution Account, and the Prepayment Fees Distribution Account shall be an Eligible Account maintained with an Eligible Institution, and may be a sub-account of the Distribution Account.
On each Distribution Date, any Combined VRR Available Funds, any Appraisal Reduction Amounts, Prepayment Fees and Prepayment Interest Shortfalls allocated to the Combined VRR Interest shall be allocated to the Class VRR Certificates and the Uncertificated VRR Interest pro rata (based on the respective Certificate Balance of the Class VRR Certificates and the Uncertificated VRR Interest Balance).
With respect to each Distribution Date, the Certificate Administrator shall make withdrawals from the Prepayment Fees Distribution Account to the extent required to make the distributions of Prepayment Fees required by Section 4.3(b) of this Agreement.
The Prepayment Fees shall be held solely for the benefit of the Holders of the Combined VRR Interest and the Class A and Class B Certificates.