Lock-out Period definition

Lock-out Period means the period from, and including, the day following the Interest Determination Date to, but excluding, the corresponding Interest Payment Date;

Lock-out Period means, in respect of an Interest Period, the period from and including the day following the Interest Determination Date to, but excluding, the Interest Period End Date falling at the end of such Interest Period;

Lock-out Period. With respect to any Mortgage Loan, the period of time specified in the related Loan Documents during which voluntary prepayments by the related Borrower are prohibited.

Examples of Lock-out Period in a sentence

• Borrower shall not make a voluntary partial prepayment on the Mortgage Loan at any time during the Loan Term, or a voluntary full prepayment on the Mortgage Loan at any time during any Prepayment Lockout Period.

• The following Prepayment Charges apply after the Note has been assigned to a REMIC trust, if such assignment occurred prior to the Cut-off Date: During the Lockout Period or the Defeasance Period, the Prepayment Charge is 5.0% of the principal being prepaid upon demand by Xxxxxx (i) if Lender applies any proceeds of collateral or other security to any portion of the principal balance of the Note, or (ii) following a determination that the prohibition on voluntary prepayments is contrary to applicable law.

• Defeasance (with Yield Maintenance and possible Lockout Period) The following Prepayment Charges apply (i) until the Note is assigned to a REMIC trust, and (ii) after the Note has been assigned to a REMIC trust, if such assignment occurred on or after the Cut-off Date: During the Yield Maintenance Period, the Prepayment Charge is the Yield Maintenance Prepayment Charge defined in the table below.

• Borrower further acknowledges that the Lockout Period, if applicable, and Prepayment Charge set forth in this Loan Agreement are material parts of the consideration for the Loan, and that the terms of the Loan Documents are in other respects more favorable to Borrower as a result of Xxxxxxxx’s voluntary agreement to the Lockout Period, if applicable, and Prepayment Charge.

• A Prepayment Charge of 5.0% of the principal being prepaid will be due upon demand by Xxxxxx (i) if Lender applies any proceeds of collateral or other security to any portion of the principal balance of the Note during the Lockout Period, or (ii) following a determination that the prohibition on voluntary prepayments during the Lockout Period is contrary to applicable law.

More Definitions of Lock-out Period

Lock-out Period means the period from, and including the day following the Interest Determination Date to, but excluding, the corresponding Interest Payment Date;

Lock-out Period means, with respect to an Interest Accrual Period, the period from (and including) the day following the Interest Determination Date to (but excluding) for such Interest Accrual Period (A) the corresponding Interest Payment Date for such Interest Accrual Period or (B) the date on which the relevant payment of interest falls due, if different;

Lock-out Period has the meaning set out in paragraph (A) above; "Observation Period" has the meaning set out in paragraph (A) above; "Reference Day" has the meaning set out in paragraph (A) above;

Lock-out Period means the first twelve (12) months of the Revolving Commitment Period.

Lock-out Period means the tenth (10th) anniversary of the Conversion Date.”

Lock-out Period has the meaning set out in paragraph (1) above;

Lock-out Period means the period from, and including, the day following the Periodic Distribution Determination Date to, but excluding, the corresponding Periodic Distribution Date;