Manner of Prepayment. Except as otherwise set forth in the Loan Agreement Supplement with regard to any Component, the Borrowers may voluntarily prepay the Loan in whole or in part on any date upon payment of the applicable Yield Maintenance, including to satisfy the DSCR requirements set forth in the Release or Substitution Conditions in connection with Sections 11.4(A), 11.4(B), 11.5 or 11.6; provided that no Yield Maintenance shall be payable in connection with (i) prepayments of a Component during the Refinancing Window related to such Component, (ii) in respect of any Component corresponding to Risk Retention Securities, (iii) prepayments made to cure a breach of a representation, warranty or other default as set forth in Section 11.4(B), (iv) prepayments of proceeds received as a result of any casualty or condemnation of a Site as set forth in Section 5.5(C) or prepayments as a result of a Title Defect Cash Flow Event or (v) prepayments made during an Amortization Period. Together with such prepayment the Borrowers also will pay (i) any and all outstanding Advance Interest and Additional Trust Fund Expenses, (ii) all accrued and unpaid interest on the principal amount of the Loan being prepaid through the date of such prepayment and (iii) all other Obligations, in each case, then due and owing. For the Component corresponding to the Series 2013-2A Securities only, if any prepayment (whether in whole or in part) occurs, the Borrowers are also required to pay the amount of interest that would have accrued on the principal amount prepaid from and including the date of such prepayment to the end of the Interest Accrual Period during which such prepayment occurs.
Appears in 1 contract
Sources: Loan and Security Agreement (American Tower Corp /Ma/)
Manner of Prepayment. Except as otherwise set forth in the Loan Agreement Supplement with regard to any Component, the Borrowers may voluntarily prepay the Loan in whole or in part on any date upon payment of the applicable Yield Maintenance, including to satisfy the DSCR requirements set forth in the Release or Substitution Conditions in connection with Sections 11.4(A), 11.4(B), 11.5 or 11.6; provided that no Yield Maintenance shall be payable in connection with (i) prepayments of a Component during the Refinancing Window related to such Component, (ii) in respect of any Component corresponding to Risk Retention Securities, (iii) prepayments made to cure a breach of a representation, warranty or other default as set forth in Section 11.4(B), (iviii) prepayments of proceeds received as a result of any casualty or condemnation of a Site as set forth in Section 5.5(C) or prepayments as a result of a Title Defect Cash Flow Event ), or (viv) prepayments made during an Amortization Period. Together with such prepayment the Borrowers also will pay (i) any and all outstanding Advance Interest and Additional Trust Fund Expenses, (ii) all accrued and unpaid interest on the principal amount of the Loan being prepaid through the date of such prepayment and (iii) all other Obligations, in each case, then due and owing. For the Component corresponding to the Series 2013-2A Securities only, if If any prepayment (whether in whole or in part) occurs, the Borrowers are also required to pay the amount of interest that would have accrued on the principal amount prepaid from and including the date of such prepayment to the end of the Interest Accrual Period during which such prepayment occurs.
Appears in 1 contract
Sources: Loan and Security Agreement (American Tower Corp /Ma/)