Spread Maintenance definition

Spread Maintenance means the present value of the sum of the related monthly payments for the period from the date of prepayment through and including the nineteenth (19th) Payment Due Date (recalculated as if the Applicable Interest Rate included only the Margin) discounted at an interest rate per annum equal to the One Year LIBOR Rate, such determination to be made by Lender in the exercise of its sole discretion, which calculation shall be conclusive, absent manifest error.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Spread Maintenance means, with respect to any prepayment of the Loan prior to the February 9, 2011, an amount equal to the product of (a) the A Piece Percentage of such prepayment, (b) 1500 basis points, and (c) a fraction, the numerator of which shall equal the actual number of days from the date of such prepayment through the February 9, 2011 and the denominator of which is 360.”

Spread Maintenance shall have the meaning attributed to such term in Section 1.06(a)(iii) hereof.

Examples of Spread Maintenance in a sentence

• Borrower’s obligations under this Section 2.2.5 are in addition to Borrower’s obligations to pay any Spread Maintenance Premium applicable to a payment or prepayment of the Loan.

• All Spread Maintenance Premium payments hereunder shall be deemed to be earned by Lender upon the funding of the Loan.

• Notwithstanding anything herein to the contrary, no Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.3(c).

• No Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.2(a).

• A Spread Maintenance Premium or fee may be due in connection with any prepayment made pursuant to this Section 2.4.2(b) if made prior to the Spread Maintenance Outside Date.

• No Spread Maintenance Premium shall be owing on any such prepayment unless such Property became a Disqualified Property as a result of a Voluntary Action.

• Any such application to the Debt before or on the Spread Maintenance Date after an Event of Default shall be subject to the Spread Maintenance Premium, if any, applicable thereto.

• For the avoidance of doubt, no Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.4.2(c).

• Such Spread Maintenance Premium shall be required whether payment is made by Borrower, by a Person on behalf of Borrower, or by the purchaser at any foreclosure sale, and may be included in any bid by Lender at such sale.

• All Spread Maintenance Premium payments hereunder shall be deemed to be earned by Lenders upon the funding of the Loan.

More Definitions of Spread Maintenance

Spread Maintenance means, with respect to any prepayment of the Loan prior to the Initial Maturity Date, an amount equal to the product of (a) the A Piece Percentage of such prepayment, (b) 1100 basis points, and (c) a fraction, the numerator of which shall equal the actual number of days from the date of such prepayment through the Initial Maturity Date and the denominator of which is 360.

Spread Maintenance means the product of (a)

Spread Maintenance means the product of (a) the Spread, (b) the prepaid amount of the Loan, and (c) a fraction, the numerator of which is the number of days between the date of prepayment and the twelve (12) month anniversary of the date hereof and denominator of which is 360.

Spread Maintenance means for each of Note A, Note B, and each Conversion Note, the present value of the sum of the related monthly payments for the period from the date of prepayment through and including the eighteenth (18th) Payment Due Date (recalculated as if the Applicable Interest Rate included only the Margin) discounted at an interest rate per annum equal to the One Year LIBOR Rate. The Spread Maintenance shall be equal to the sum of the calculations separately determined for each such Note A, Note B, and Conversion Note (if any), such determination to be made by Lender in the exercise of its sole discretion, which calculation shall be conclusive, absent manifest error.

Spread Maintenance means, with respect to any repayment or prepayment of all or any portion of the Outstanding Principal Balance (or acceleration of the Loan) prior to the Spread Maintenance End Date, a payment in an amount equal to the product of (x) the Applicable Margin, (y) the portion of the Loan which is being repaid that is subject to a spread maintenance fee as specified in Section 2.06; and (z) a fraction, the numerator of which is the number of days following the date through which interest on the prepaid amount has been paid to the end of the full interest accrual period associated with the Spread Maintenance End Date and the denominator of which is 360.

Spread Maintenance means, with respect to any repayment of any of the outstanding principal amount of the Loan prior to and including the Spread Maintenance Outside Date (whether a voluntary or mandatory prepayment), a payment to Lender in an amount equal to the sum of the present values as of the date of prepayment of each future installment of the Spread portion (i.e. the portion attributable to the Spread portion of the Applicable Interest Rate and not to the LIBOR portion) of each payment of interest that would have been payable under the Loan on the amount of the Loan being prepaid from the date of such prepayment through, and including, the Spread Maintenance Outside Date, such future installments of the Spread portion of each payment of interest to be discounted to present value at a rate per annum, compounded monthly, equal to 30-day LIBOR as it exists on the date of such prepayment.