Examples of Prepayment Release in a sentence
Any Prepayment Release shall be subject to (i) receipt by the Administrative Agent of the Release Price, in immediately available funds, (ii) no Default or Event of Default shall exist, or would result from such Prepayment Release, and (iii) receipt of an updated Schedule 5.20(c) that is true, correct and complete after giving effect to the release of such Release Property.
Except as otherwise provided in Section 2.4.2 hereof, Borrower shall not have the right to prepay the Loan in whole or in part prior to the Prepayment Release Date.
If prior to the Prepayment Release Date, and following an Event of Default which is continuing, payment of all or any part of the Loan (exclusive of any Debt Service) is tendered by Borrower or otherwise recovered by Lender, such tender or recovery shall be deemed a voluntary prepayment by Borrower and Borrower shall pay, in addition to the Debt, an amount equal to 1% of the principal amount of the Loan prepaid.
Prior to the Mandatory Prepayment Release Date, the Borrower will not, and will not permit any of its Subsidiaries to, make any Asset Sale unless (i) the consideration therefor is not less than the fair market value of the related asset (as determined in good faith by the chief financial officer of the Borrower) and (ii) the consideration therefor consists solely of cash or cash equivalents.
After the Prepayment Release Date, no Spread Maintenance Premium or prepayment penalty shall be due in connection with any application of Net Liquidation Proceeds After Debt Service in respect of a Liquidation Event.
Other than following an Event of Default, no Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to clauses (i) or (ii) of this Section 2.4.9(a) prior to the Prepayment Release Date.
The prepayment functionality allows users to request the Prepayment Work Up Cover Letter, Prepayment Release Letter, Prepayment Requests and other reports.
From and after the Prepayment Release Date, Borrower shall be permitted to cause Lender to apply all Excess Cash Flow Reserve Funds on deposit with Lender to the prepayment of the Debt provided the requirements of Section 2.4.1(c) (including the payment of any applicable Spread Maintenance Payment) are satisfied.
If, prior to the Prepayment Release Date and following an Event of Default, payment of all or any part of the Debt is tendered by Borrower or otherwise recovered by Lender, Borrower shall pay to Lender, in addition to the Debt, an amount equal to the Spread Maintenance Premium.