Yield Maintenance Default Premium means an amount equal to the greater of (a) three percent (3%) of the outstanding principal balance of the Loan to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values of all then-scheduled payments of principal and interest under the Note assuming that all scheduled payments are made timely and that the remaining outstanding principal and interest on the Loan is paid on the Permitted Par Prepayment Date (with each such payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly, is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment Date), over (ii) the principal amount being prepaid.

Yield Maintenance Default Premium shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

Yield Maintenance Default Premium means an amount equal to the greater of: (i) five percent (5%) of the principal amount of the Loan being prepaid and (ii) the excess, if any, of (a) the present value (determined using a discount rate equal to the Treasury Note Rate at such time) of all scheduled payments of principal and interest payable in respect of the principal amount of the Loan being prepaid, provided that the Note shall be deemed, for purposes of this definition, to be due and payable on the Open Prepayment Commencement Date, over (b) the principal amount of the Loan being prepaid.

Examples of Yield Maintenance Default Premium in a sentence

This sum included $3,108,096.78 allocated to the Yield Maintenance Default Premium.
Notably, in its response to the Debtor’s claim objection, Comm2013 identifies the same premium as a “Yield Maintenance Default Premium.” According to § 2.4.3 of the Loan Agreement, which governs prepayments after default, the Yield Maintenance Default Premium is but one component of what Comm2013 identifies in its proof of claim as the Prepayment Premium.
Therefore, pursuant to the clear and unambiguous terms of section 2.3.3 of the Loan Agreement, the Claim appropriately includes the Secured Lender’s right to payment of the Yield Maintenance Default Premium because (i) Events of Default have occurred as articulated in the Default Notices and (ii) such amount is due and payable upon Owner’s tender of payment of the Debt and/or the Secured Lender’s efforts to recover payment of the Debt.
Just as AE Hotel, section 2.3.3 makes acceleration irrelevant because the trigger for the Secured Lender’s right to be paid the Yield Maintenance Default Premium is payment of all or part of the Debt following an Event of Default – either tendered by Owner or otherwise recovered by the Secured Lender.
The plain and ordinary meaning of the Loan Agreement requires that any payment of Debt in a default scenario include payment of the Yield Maintenance Default Premium, regardless of whether the Loan has been accelerated or not.

More Definitions of Yield Maintenance Default Premium

Yield Maintenance Default Premium means an amount equal to the greater of (a) five percent (5%) of the outstanding principal balance of the Loan to be prepaid or satisfied and (b) the Defeasance Payment Amount that would be required if a Defeasance Event were to occur at such time (whether or not then permitted) in an amount equal to the outstanding principal amount of the Loan to be prepaid or satisfied.

Yield Maintenance Default Premium means an amount equal to the greater of (a) five percent (5%) of the outstanding principal of the Loan to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values of all then-scheduled payments of principal and interest under the Note in respect of the principal amount being prepaid assuming that all scheduled payments are made timely and that such outstanding principal amount and accrued and unpaid interest thereon is paid on the Payment Date immediately following the Prepayment Release Date (with each such payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly, is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment Date), over (ii) the principal amount being prepaid.

Yield Maintenance Default Premium. As the term “Yield Maintenance Premium” is defined in Loan Agreement.

Yield Maintenance Default Premium means an amount equal to the greater of (a) five percent (5%) of the outstanding principal balance of the Loan to be prepaid or satisfied and (b) the excess, if any, of (i) the sum of the present values of all then-scheduled payments of principal and interest to be made with respect to the portion of the Note being prepaid assuming that all scheduled payments are made timely and that the remaining outstanding principal and interest on the portion of the Loan being prepaid (including interest thereon through the end of the related Interest Period) is paid on the Permitted Par Prepayment Date (with each such payment and assumed payment discounted to its present value at the date of prepayment at the rate which, when compounded monthly, is equivalent to the Prepayment Rate when compounded semi-annually and deducting from the sum of such present values any short-term interest paid from the date of prepayment to the next succeeding Payment Date in the event such payment is not made on a Payment Date), over (ii) the principal amount being prepaid.

Yield Maintenance Default Premium means an amount equal to the greater of (a) two percent (2%) of the outstanding principal balance of the Loan to be prepaid or satisfied and (b) the Defeasance Payment Amount that would be required if a Defeasance Event were to occur at such time (whether or not then permitted) in an amount equal to the outstanding principal amount of the Loan to be prepaid or satisfied.

Yield Maintenance Default Premium means an amount equal to the greater of:

Yield Maintenance Default Premium. As defined in the Loan Agreement.