Yield Maintenance Premium. Borrower acknowledges that (a) Lender is making the Loan in consideration of the receipt by Lender of all interest and other benefits intended to be conferred by the Loan Documents and (b) if payments of Principal are made to Lender prior to the Stated Maturity Date, for any reason whatsoever, whether voluntary, as a result of Lender’s acceleration of the Loan after an Event of Default, by operation of law or otherwise, Lender will not receive all such interest and other benefits and may, in addition, incur costs. For these reasons, and to induce Lender to make the Loan, Borrower agrees that, except as expressly provided in Article 7 hereof, all prepayments, if any, whether voluntary or involuntary, will be accompanied by the Yield Maintenance Premium. Such Yield 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. Borrower further acknowledges that (A) it is a knowledgeable real estate developer and/or investor; (B) it fully understands the effect of the provisions of this Section 10.20, as well as the other provisions of the Loan Documents; (C) the making of the Loan by Lender at the Interest Rate and other terms set forth in the Loan Documents are sufficient consideration for Borrower’s obligation to pay a Yield Maintenance Premium (if required); and (D) Lender would not make the Loan on the terms set forth herein without the inclusion of such provisions. Borrower also acknowledges that the provisions of this Agreement limiting the right of prepayment and providing for the payment of the Yield Maintenance Premium and other charges specified herein were independently negotiated and bargained for, and constitute a specific material part of the consideration given by Borrower to Lender for the making of the Loan except as expressly permitted hereunder.
Yield Maintenance Premium an amount which, when added to the outstanding Principal, would be sufficient to purchase U.S. Obligations which provide payments (a) on or prior to, but as close as possible to, all successive scheduled payment dates under this Agreement through the Stated Maturity Date and (b) in amounts equal to the Monthly Debt Service Payment Amount required under this Agreement through the Stated Maturity Date together with the outstanding principal balance of the Note as of the Stated Maturity Date assuming all such Monthly Debt Service Payment Amounts are made (including any servicing costs associated therewith). In no event shall the Yield Maintenance Premium be less than zero.
Yield Maintenance Premium an amount which, when added to the outstanding Principal, would be sufficient to purchase U.S. Obligations which provide payments (a) on or prior to, but as close as possible to, all successive scheduled payment dates under this Agreement through the Stated Maturity Date and (b) in amounts equal to the Monthly Debt Service Payment Amount and/or Monthly Interest Payment Amount, as the case may be, required under this Agreement through the Stated Maturity Date together with the outstanding principal balance of the Note as of the Stated Maturity Date assuming all payments of the Monthly Debt Service Payment Amount and/or Monthly Interest Payment Amount, as the case may be, are made (including any servicing costs associated therewith). In no event shall the Yield Maintenance Premium be less than zero.
Yield Maintenance Premium. In the event of any prepayment or repayment of any Fixed Rate Amount of the Rollover Term Loan of any Lender, whether as a result of any mandatory or optional prepayment pursuant to this Agreement, any Event of Default or any other reason, the Borrowers shall pay to such Lender, at the time of such prepayment or repayment and in addition to the principal amount of such Rollover Term Loan being prepaid or repaid and accrued interest thereon, an amount equal to the Yield-Maintenance Premium (as defined below) with respect to such principal amount, determined as of the date of such prepayment or repayment; provided, however, that no Yield-Maintenance Premium shall be payable with respect to any scheduled repayment of any Rollover Term Loan in accordance with Section 2.05(c), any prepayment or repayment of any Capitalized Rollover Interest Amount, any mandatory prepayment in accordance 62 57
Yield Maintenance Premium. Borrower acknowledges that
Yield Maintenance Premium. Any mandatory prepayments under this Section 2.13 made on or prior to the date that is the second anniversary of the Additional Notes Closing Date shall be accompanied by the Yield Maintenance Premium.
Yield Maintenance Premium. If, on or prior to the 18 month anniversary of the Closing Date, Borrowers pay, for any reason (including, but not limited to, any optional or mandatory payment after the occurrence of an Event of Default or after acceleration of the Loans), all or any part of the principal balance of any Term Loan and/or any Commitment is reduced or terminated (other than (i) the termination of any Term Loan Commitment on the Closing Date or the date of the full funding of such Commitment or (ii) with respect to prepayments made pursuant to Section 2.13(e)), Borrowers shall pay to Service Agent, for the benefit of all Lenders entitled to a portion of such prepayment or reduction, an amount (the “Yield Maintenance Premium”) equal to (A) the difference between (1) the aggregate amount of interest (including, without limitation, interest payable in cash, in kind or deferred) which would have otherwise been payable on the amount of the principal prepayment or commitment reduction (assuming the full commitment amount has been drawn) from the date of prepayment or reduction until the 18 month anniversary of the Closing Date, minus (2) the aggregate amount of interest Lenders would earn if the prepaid or reduced principal amount were reinvested for the period from the date of prepayment or reduction until the 18 month anniversary of the Closing Date at the Treasury Rate (the term “Treasury Rate” shall mean a rate per annum (computed on the basis of actual days elapsed over a year of 360 days) equal to the rate determined by the Agent on the date three (3) Business Days prior to the date of prepayment, to be the yield expressed as a rate listed in The Wall Street Journal for United States Treasury securities having a term of not greater than thirty-six (36) months), plus (B) an amount equal to the Prepayment Premium that would otherwise be payable as if such prepayment had occurred on the day after the 18 month anniversary of the Closing Date. No amount will be payable pursuant to the foregoing provisions with respect to any prepayment of all or any part of any Loan after the 18 month anniversary of the Closing Date. Nothing contained in this Section 2.12(c) shall permit any voluntary prepayment or commitment reduction not otherwise permitted by the terms of this Agreement.”
Yield Maintenance Premium. Upon any repayment or prepayment of the Loan (if such prepayment occurs prior to the Yield Maintenance Date or if such prepayment is a Low DSCR Cure Prepayment) (including in connection with an acceleration of the Loan but excluding (i) in connection with any mandatory prepayment pursuant to Section 2.4.3(a) (except where such prepayment arises as a result of a Voluntary Action) or Section 2.4.3(c), (ii) as provided in Section 2.4.5(b), and (iii) in connection with any prepayment made in reduction of any Deferred Interest Amount), Borrower shall pay to Lender on the date of such repayment or prepayment (or acceleration of the Loan) the Yield Maintenance Premium, if any, applicable thereto. All Yield Maintenance Premium payments due and payable hereunder shall be deemed to be earned by Xxxxxx upon the funding of the Loan.
Yield Maintenance Premium. If, for any reason, the Loan is involuntarily prepaid prior to the third anniversary of the Funding Date (including, by reason of an acceleration following the occurrence of an Event of Default), Borrower shall, concurrently with such prepayment, pay to Lender an amount equal to the greater of (x) 1% and (y) the positive difference, if any, between (i) the net present value of the remaining payments of principal and interest (including the payment on the Maturity Date) discounted at the Reinvestment Rate expressed in monthly terms (not compounded), determined one Business Day prior to such prepayment, and (ii) the principal amount of the Loan, as at the date of such prepayment.
Yield Maintenance Premium. If Company prepays, including as a result of acceleration, for any reason (except as specifically excluded under SECTION 2.11 below), all or any part of the principal balance of any Term Loan on or prior to April 25, 2006, Company shall pay to Administrative Agent, for the benefit of all Lenders entitled to a portion of such prepayment, an amount (the "YIELD MAINTENANCE PREMIUM") (which such amount shall be in addition to the Prepayment Premium described below) equal to (1) the aggregate amount of interest (including, without limitation, interest payable in Cash, in kind or deferred) which would have otherwise been payable on the amount of the principal prepayment from the date of prepayment until April 25, 2006, minus (2) the aggregate amount of interest Lenders would earn if the prepaid principal amount were reinvested for the period from the date of prepayment until April 25, 2006 at the Treasury Rate. The term "TREASURY RATE" shall mean a rate per annum (computed on the basis of actual days elapsed over a year of 360 days) equal to the rate determined by Administrative Agent on the date three (3) Business Days prior to the date of prepayment, to be the yield expressed as a rate listed in The Wall Street Journal for United States Treasury securities having a term of not greater than twelve (12) months. No amount will be payable pursuant to the foregoing provisions with respect to any prepayment of all or any part of any Loan after April 25, 2006.
