Yield Maintenance definition

Yield Maintenance means the amount, if any, by which

Yield Maintenance shall have the meaning ascribed to it in Section 2.01(a)(iv) hereof. Words importing the masculine gender include the feminine gender. Words importing persons include firms, associations and corporations. Words importing the singular number include the plural number and vice versa. Additional terms are defined in the body of this Loan Agreement Supplement. In the event that any term or provision contained herein with respect to the 2015-1C Component shall conflict with or be inconsistent with any term or provision contained in the Loan Agreement, the terms and provisions of this Loan Agreement Supplement shall govern.

Yield Maintenance means the positive difference, if any, between (i) the present value on the date of prepayment (by acceleration or otherwise) of all future installments of principal and interest which the Borrowers would otherwise be required to pay under the Note from the date of such prepayment until the Maturity Date absent such prepayment, including the unpaid principal amount which might otherwise be due upon the Maturity Date absent such prepayment, with such present value being determined by the use of a discount rate equal to the yield to maturity (adjusted to a “Mortgage Equivalent Basis” pursuant to the standards and practices of the Securities Industry Association), on the date of such prepayment of the United States Treasury Security having the term to maturity closest to what otherwise would have been the remaining term hereof absent such prepayment and (ii) the principal balance of the Loan on the date of such prepayment.

Examples of Yield Maintenance in a sentence

• There are no shortfalls on amounts that were previously required to be paid under the Yield Maintenance Agreement.

• Raise the sum determined in Step A to the power of an exponent equal to the opposite of (i.e., a negative number) the number of payment periods remaining between the prepayment date and the Yield Maintenance Date (as defined below).

• In order to assist in understanding the calculation of the fraction as stated in this paragraph, this fraction is also stated by the following mathematical formula: (1-(1+r)–n)/r *Where “r” is the Treasury Rate and “n” is the number of payment periods remaining between the prepayment date and the Yield Maintenance Date.

• The term “Treasury Rate” means a rate per annum, expressed as a decimal calculated to five digits, equal to the yield (adjusted to the payment frequency on the Note) on the interpolated Treasury Constant Maturity maturing on the Yield Maintenance Date as published by the Board of Governors of the Federal Reserve System or as reported by the Department of the Treasury as of the fifth business day preceding the date the Borrower notifies the Lender of the Borrower’s intent to make a principal prepayment.

• As required by the tax-exempt bond indenture, OCTA paid a $26,428,197 Yield Maintenance Premium in connection with the defeasance of the Senior Secured Bonds, which is amortized over the life of the Series 2003 tax-exempt bonds on the straight line basis.

More Definitions of Yield Maintenance

Yield Maintenance. As defined in the Note.

Yield Maintenance has the meaning set forth in Section 2.6(B).

Yield Maintenance means, if all or any portion of the Note is accelerated or prepaid, the amount that, when added to the amount otherwise due as a result of such acceleration or prepayment, would be sufficient to purchase U.S. Obligations (a) having maturity dates on or prior to, but as close as possible to, successive scheduled Payment Dates (after the date of such acceleration of the Note) upon which Payment Dates interest and principal payments are required under the Note through the Maturity Date and (b) in amounts sufficient to pay all scheduled principal and interest payments on the Note on each Payment Date through and including the Maturity Date; provided, however, under no circumstances shall Yield Maintenance be less than zero.

Yield Maintenance means any amount payable pursuant to Section 2.06(b).

Yield Maintenance for each Component has the meaning set forth in the Loan Agreement Supplement relating to such Component.

Yield Maintenance is defined as the sum of Present Values (as defined below) on the date of prepayment of each Monthly Interest Shortfall (as defined below) for the remaining Term of the Loan, discounted at the monthly Treasury Yield (as defined below) plus fifty (50) basis points.

Yield Maintenance means the excess, if any, of (x) the present value on the date of prepayment (by acceleration or otherwise) of all future installments of principal and interest that the Borrowers would otherwise be required to pay on that portion of the applicable Component prepaid from the date of such prepayment to and including the first Payment Date that is three (3) months prior to the Maturity Date absent such prepayment, assuming the entire unpaid Principal Amount of such Component is required to be paid on such Payment Date, with such present value being determined by the use of a discount rate equal to the sum of (a) the yield to maturity (adjusted to a "mortgage equivalent basis" pursuant to the standards and practices of the Securities Industry Association), on the date of such prepayment of the United States Treasury Security having the term to maturity closest to the first Payment Date that is three (3) months prior to the Maturity Date, plus (b) .50% over (y) that portion of the applicable Component prepaid on the date of such prepayment.