Prepayment Premium definition

Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

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Prepayment Premium. With respect to any Mortgage Loan, any premium, fee or other additional amount (other than a Yield Maintenance Charge) paid or payable, as the context requires, by a Borrower in connection with a Principal Prepayment on, or other early collection of principal of, such Mortgage Loan or any successor REO Mortgage Loan with respect thereto (including any payoff of a Mortgage Loan by a mezzanine lender on behalf of the subject Borrower if and as set forth in the related intercreditor agreement).

Prepayment Premium has the meaning specified in Section 2.05(a)(iii).

Examples of Prepayment Premium in a sentence

• The mortgage rate (exclusive of any default interest, late charges, Yield Maintenance Charge or Prepayment Premium) of such Mortgage Loan complied as of the date of origination with, or was exempt from, applicable state or federal laws, regulations and other requirements pertaining to usury.

• Upon the occurrence of a Prepayment Premium Trigger Event, the applicable Prepayment Premium shall constitute part of the Obligations.

• Upon the occurrence of any Prepayment Premium Trigger Event, the applicable Prepayment Premium shall be immediately earned, due and payable in cash.

• Each notice of optional prepayment shall specify the proposed prepayment date, the principal amount of the Loans to be prepaid, the amount of accrued and unpaid interest that will be paid on the proposed prepayment date, and, in reasonable detail, a calculation of the Prepayment Premium payable on such date.

• The outstanding principal amount of the Loans, as well as all other outstanding Obligations (including, without limitation, any applicable Prepayment Premium, but excluding Warrant Obligations), shall accrue interest at the Interest Rate from and including the date of their Borrowing to but excluding the date they are repaid or prepaid.

More Definitions of Prepayment Premium

Prepayment Premium means (i) any premium payable by the Borrower pursuant to the Borrower Loan Documents in connection with a prepayment of the Borrower Note (including any Prepayment Premium as set forth in the Borrower Note) and (ii) any premium payable on the Governmental Lender Note pursuant to this Funding Loan Agreement.

Prepayment Premium. Any prepayment premium, penalty or charge collected by the Servicer with respect to a Mortgage Loan from a Mortgagor in connection with any voluntary Principal Prepayment in Full pursuant to the terms of the related Mortgage Note.

Prepayment Premium. With respect to each Mortgage Loan, the prepayment charge or penalty interest required to be paid by the Mortgagor in connection with a prepayment of the related Mortgage Loan, as provided in the related Mortgage Note or Mortgage, and as specified on the Mortgage Loan Schedule.

Prepayment Premium has the meaning set forth in Section 3.03(a).

Prepayment Premium. Any premium, penalty or fee (other than a Yield Maintenance Charge) paid or payable, as the context requires, by a Mortgagor in connection with a Principal Prepayment.

Prepayment Premium. With respect to any Mortgage Loan and Prepayment Period, any prepayment premium, penalty or charge collected by the Servicer from a Mortgagor in connection with any voluntary Principal Prepayment and held from time to time as a part of the Trust Fund. The Servicer shall calculate, in good faith using Accepted Servicing Practices, the amount of any Prepayment Premium solely pursuant to the terms of the related Mortgage Note.

Prepayment Premium. Any premium, penalty or fee paid or payable, as the context requires, by a Mortgagor in connection with a Principal Prepayment on, or other early collection of principal of, a Mortgage Loan or any successor REO Loan.