Prepayment Charges definition

Prepayment Charges. Any prepayment premium or charge payable by a Mortgagor in connection with any Principal Prepayment on a Mortgage Loan pursuant to the terms of the related Mortgage Note or Mortgage, as applicable.

Prepayment Charges as used in the Agreement, shall be interpreted to include, without limitation, in the case of a Precomputed Receivable that is prepaid in full, the difference between the Principal Balance of such Receivable (plus accrued interest to the date of prepayment) and the Principal Balance of such Receivable computed in accordance with the method provided for in the contract governing such Receivable, such as the rule of 78's.

Prepayment Charges. Any prepayment fees, premiums or charges to be paid by the Mortgagor on a Mortgage Loan pursuant to the terms of the related Mortgage Note or Mortgage, as applicable, as identified on the Mortgage Loan Schedule.

Examples of Prepayment Charges in a sentence

• If the borrower has availed the loan on Fixed Rate of Interest, the Borrower agrees to pay Prepayment Charges in the event of prepayment of the loan, either partly or fully at the rates mentioned below or at such other rates as may be fixed by the Bank from time to time: i) If the loan is closed from own sources after two years from the date of availment, no pre- payment charges will be charged.

• Upon such written notice by the Borrower, the Lender may at its sole discretion, accept pre-payment of the Outstanding Obligations, in part or full, subject to payment of Prepayment Charges as mentioned in the Schedule of Charges.

• In the alternative, the Ontario Action alleged, inter alia, that the Defendant had miscalculated Prepayment Charges by failing to reduce them to their net present value, and by failing to calculate them with reference to a notional comparator mortgage with the same amortization period as the Class Member’s mortgage.

• The charges including Dishonour Charges, Prepayment Charges, cancellation charges and/or other charges etc.

• This privilege is non-cumulative.* Prepayments in excess of 20% will be charged a penalty on the amount of prepayment as outlined in section B (Prepayment Charges) below.

More Definitions of Prepayment Charges

Prepayment Charges means, for purposes of this Lease, an amount equal to any prepayment premium or charge, yield maintenance payment, or other cost or expense imposed on Lessor by the applicable Lender in connection with the payment of the applicable Note(s) or promissory note(s) prior to the Maturity Date.

Prepayment Charges means charges levied by Bank for prepayment as specified in the Schedule.

Prepayment Charges. With respect to any Mortgage Loan, the charges or premiums, if any, due in connection with a Principal Prepayment of such Mortgage Loan in accordance with the terms thereof.

Prepayment Charges. With respect to any Prepayment Period, any prepayment premium, penalty or charge collected by a Servicer from a Mortgagor in connection with any voluntary Principal Prepayment in Full pursuant to the terms of the related Mortgage Note as from time to time held as a part of the Trust Estate, the Prepayment Charges so held being identified in the related Mortgage Loan Schedule.

Prepayment Charges means all prepayment premiums, penalties and similar charges paid by any Obligor in connection with, and as a condition to, prepayment in part or in full of a Loan.

Prepayment Charges. Some Mortgage Investments originated by the Partnership provide for certain prepayment charges to be imposed on the borrowers in the event of certain early payments on the Mortgage Investments. Any prepayment charges collected on Mortgage Investments will be retained by the Partnership. Mortgage Investments secured by deeds of trust encumbering single-family owner-occupied dwellings may be prepaid at any time, regardless of whether the note and deed of trust so provides, but prepayments made in any 12-month period during the first five years of the term of the loan which exceed twenty percent (20%) of the original balance of the loan may be subject to a prepayment charge. The law limits the prepayment charge in such loans to an amount equal to six months advance interest on the amount prepaid in excess of the permitted twenty percent (20%), or interest to maturity, whichever is less. If a loan that is secured by residential property is being repaid because the lender has accelerated the loan upon the sale of the property, California law does not allow a prepayment penalty to be charged.

Prepayment Charges means, for purposes of this Lease, an amount equal to any prepayment premium or charge or the "Yield Maintenance Payment" (as defined below), or any other cost or expense imposed on Lessor by the applicable Lender in connection with the payment of the applicable Note(s) or promissory note(s) prior to the Maturity Date. While the Notes are outstanding, the Prepayment Charge shall equal the Yield Maintenance Payment, and the Prepayment Charge payable under any promissory note(s) executed subsequent to the satisfaction of the Notes shall not exceed the Yield Maintenance Payment.