Fixed Rate Loan. From and after the second Payment Date prior to the Stated Maturity Date (the “Fixed Rate Loan Permitted Prepayment Date”), Borrower shall have the right to prepay the Fixed Rate Loan in whole (but not in part), provided that Borrower gives Lender at least fifteen (15) days’ prior written notice thereof. If any such prepayment is not made on a Payment Date, Borrower shall also pay interest that would have accrued on such prepaid Fixed Rate Principal to, but not including, the next Payment Date. Any such prepayment of the Fixed Rate Loan shall be made without payment of the Yield Maintenance Premium applicable to the Fixed Rate Loan.
Appears in 2 contracts
Sources: Loan Agreement (Thomas Properties Group Inc), Loan Agreement (Thomas Properties Group Inc)