Definition of Term Fixed Rate Non-Prepayment Penalty Loan


Term Fixed Rate Non-Prepayment Penalty Loan means a Term Fixed Rate Loan which is not subject to any prepayment or conversion penalties or premiums; provided, however, the Term Fixed Rate Non-Prepayment Penalty Loan cannot be prepaid within one (1) year following conversion.
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Examples of Term Fixed Rate Non-Prepayment Penalty Loan in a sentence

With respect to any Term Fixed Rate Loan, the Borrower shall also notify the Agent as to which portion, if any, shall be a Term Fixed Rate Non-Prepayment Penalty Loan and as to which portion, if any, shall be a Term Fixed Rate Prepayment Penalty Loan.