Required Yield Maintenance definition

Required Yield Maintenance means an amount equal to the greater of (A) one percent (1.0%) of the principal amount being prepaid; and (B) the positive excess of (i) the present value ("PV") of all future installments of principal and/or interest, to the extent due under this Note, including the principal amount due at maturity (collectively, "All Future Payments"), discounted at an interest rate per annum equal to the Treasury Constant Maturity Yield Index published during the second full week preceding the date on which such premium is payable for instruments having a maturity coterminous with the remaining term of this Note, over (ii) the principal amount of this Note outstanding immediately before such prepayment [(PV of All Future Payments) - (principal balance at time of prepayment) = prepayment fee]. "Treasury Constant Maturity Yield Index" shall mean the average yield for "This Week" as reported by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519). If there is no Treasury Constant Maturity Yield Index for instruments having a maturity coterminous with the remaining term of this Note, then the index shall be equal to the weighted average yield to maturity of the Treasury Constant Maturity Yield Indices with maturities next longer and shorter than such remaining average life to maturity, calculated by averaging (rounded upward to the nearest 1/8 of 1% per annum) the yields of the relevant Treasury Constant Maturity Yield Indices (rounded upward to the nearest 1/8 of 1% per annum). In the event that there is no Treasury Constant Maturity Index available, Lender may select an alternate index as may be reasonable based on the available indices.
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Required Yield Maintenance means an amount equal to the greater of (A) the present value as of the Prepayment Date of the remaining scheduled payments of principal and interest with respect to the principal amount of the Loan being prepaid from the Prepayment Date through the Prepayment Release Date (assuming a principal payment is made on the Prepayment Release Date equal to the principal amount of the Loan being prepaid on the Prepayment Date) determined by discounting such payments at the Discount Rate less the amount of principal being prepaid or (B) one percent (1%) of the principal amount being prepaid.
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Examples of Required Yield Maintenance in a sentence

  • Other than following an uncured Event of Default, no Required Yield Maintenance shall be due in connection with any prepayment made pursuant to this Section 2.4.2. Following an Event of Default, and for so long as such Event of Default continues, any prepayment shall be applied to payments of principal of the Loan and other amounts due under the Loan Documents in such order and priority as Lender may determine in its sole discretion.

  • On the Payment Date three (3) months prior to the Maturity Date (the “Open Prepayment Date”), or on any Payment Date thereafter, Borrower may, at its option and upon ten (10) days prior notice to Lender, prepay the Debt in whole but not in part without payment of the Required Yield Maintenance Premium.

  • Lender shall not be obligated to accept any prepayment of the Debt under this Section 2.4.1 unless it is accompanied by the applicable Required Yield Maintenance due in connection therewith.

  • No Required Yield Maintenance Premium or other premium shall be due in connection with any prepayment made pursuant to this Section 2.4.2 or any other involuntary prepayment related to a Casualty or Condemnation.

  • In order to satisfy the condition set forth in Sections 2.6.3(c), Borrower shall have the right to make a partial repayment of the Loan in an amount equal to, but not greater than, the amounts required to be prepaid in order to satisfy such condition (the "Permitted Prepayment Amount") together with the Required Yield Maintenance applicable to the Permitted Prepayment Amount.