Partial Prepayment Clause Samples

Partial Prepayment. Borrower shall have the right at any time to voluntarily prepay any portion of the Term Loan, or any portion of the Revolving Loan subject to a Fixed Rate, upon at least three (3) Business Days notice to Lender, without premium or penalty except Borrower shall pay to Lender, a prepayment surcharge calculated in accordance with Section 2.3(c). Unless otherwise approved by Lender, any prepayment of the Term Loan shall be applied pro rata, based on the respective aggregate principal amounts then outstanding, to Term Loan Tranche A and Term Loan Tranche B, and shall not reduce the amount of any installment payments to Lender.

Partial Prepayment. On any Business Day, on three (3) Business Days’ prior written notice from the applicable Seller to Buyer, such Seller may partially pay the Repurchase Price of any Purchased Asset, which shall include any related amounts then due and owing to an Affiliated Hedge Counterparty (any such asset, a “Partially Repaid Purchased Asset” and the amount so repaid, the “Partial Payment Amount”). With respect to such payment that is not occasioned by a repayment of principal with respect to the Purchased Asset, such Seller shall give Buyer at least three (3) Business Days prior notice of payment and shall not partially pay in an amount whereby the remaining Purchase Price of any such Purchased Asset, after giving effect to any such partial payment, is less than $500,000. In respect of any Partially Repaid Purchased Asset, the applicable Seller may request, on no less than one (1) Business Day’s prior written notice to Buyer, that Buyer pay to such Seller the Partial Payment Amount in respect of such Partially Repaid Purchased Asset. If any such request is delivered to Buyer less than ninety (90) days after Buyer’s initial approval to purchase such Purchased Asset from such Seller, Buyer shall pay to such Seller the Partial Payment Amount in respect of such Partially Repaid Purchased Asset. If any such request is delivered to Buyer ninety (90) or more days after Buyer’s initial approval to purchase such Purchased Asset from such Seller, Buyer may, in its discretion either decline such request in its entirety, or accept such request in whole or in part and pay to such Seller none, all or part of the Partial Payment Amount in respect of such Partially Repaid Purchased Asset, subject to any terms or conditions Buyer may, in its discretion, require. Any prepayment made under this Section shall be deposited directly into the General Repo Account and, notwithstanding any provision in Section 5.02 to the contrary, applied by Buyer to reduce the unpaid Repurchase Price of the related Purchased Asset within one (1) Business Day after deposit therein, and not, for the avoidance of doubt, on the next Remittance Date.

Partial Prepayment. (i) With respect to a Voluntary Prepayment in part of a Series of Notes, the Issuers will be required to deposit with the Indenture Trustee an amount equal to the sum (such amount, the “Partial Redemption Amount”) of (1) the Applicable Paydown Percentage with respect to the then outstanding Aggregate Series Principal Balance, (2) all accrued and unpaid interest (including any Interest Carry-Forward Amount) thereon, (3) all amounts outstanding to the Indenture Trustee, the Property Manager, the Special Servicer and the Back-Up Manager and (4) the required Make Whole Amount, if any, and all such amounts deposited pursuant to clauses (1) through (4) above shall be allocated pro rata among all Series of Notes. (ii) Proceeds in connection with a Series Collateral Release shall not be used to effect a partial Voluntary Prepayment pursuant to this Section 7.01(d).

Partial Prepayment. The Borrower, when not in Default, may prepay partial amounts of principal, without payment of compensation to the Lender, on any payment date. Such partial payments must each be a minimum amount of $100.00, and total no more than 15% of the original principal amount of this Mortgage during each year. This privilege is only available if this Mortgage is continuing in force and is not applicable in part to any prepayment in full of this Mortgage. Any unused partial prepayment privilege will not reduce the Indebtedness payable on any prepayment in full of this Mortgage. This privilege may not be used in the thirty-one (31) days prior to a prepayment in full of this Mortgage. This privilege is available upon any regular monthly instalment and can be exercised up to a maximum of three (3) times per calendar year.

Partial Prepayment. Borrower may prepay the indebtedness evidenced by the Note in whole or in part at any time and from time to time.

Partial Prepayment. (a) On or after December 1, 2027, the City may prepay the Basic Rent Payments with respect to the Series 2020A Certificates in whole or in part, upon giving written notice to the Trustee at least 30 days before the prepayment date, at the prepayment price equal to 100% of the Principal Portion of Basic Rent being so prepaid plus the Interest Portion of Basic Rent accrued thereon to such Basic Rent Payment Date. (b) The Basic Rent Payments with respect to the Series 2020B Certificates are not subject to partial prepayment. (c) The Principal Portion of Basic Rent prepaid pursuant to this Section 5.02 will be in integral multiples of $5,000 and will be credited in such order of stated payment dates as is determined by the City. Upon any partial prepayment, the amount of each Interest Portion of Basic Rent coming due thereafter will be reduced by the amount of such Interest Portion attributable to such prepaid Principal Portion determined by applying the annual interest rate corresponding to such prepaid Principal Portion as shown on Exhibit A.

Partial Prepayment. The Borrower, when not in Default, may prepay partial amounts of principal, without payment of compensation to the Lender, on any payment date. Such partial payments must each be a minimum amount of $100.00, and total no more than 15% of the original principal amount of this Mortgage during each year. This privilege is only available if this Mortgage is continuing in force and is not applicable in part to any prepayment in full of this Mortgage. Any unused partial prepayment privilege will not reduce the Indebtedness payable on any prepayment in full of this Mortgage. This privilege may not be used in the thirty-one (31) days prior to a prepayment in full of this Mortgage.

Partial Prepayment. If, notwithstanding Section 2.4(a), Administrative Agent permits the Loan to be prepaid in part, Borrower shall pay, in addition to the principal amount prepaid, pro-rated interest on the amount of such prepayment plus any Libor Breakage Amount applicable to such principal being prepaid. Partial prepayments may be made from time to time following the expiration of the Lockout Period to the extent permitted under Section 2.17.

Partial Prepayment. The City will have the option to prepay the Basic Rent Payments in part, upon giving written notice to the Trustee at least 45 days before the date of such prepayment, at any time on or after the anniversary of the Dated Date, at the Prepayment Price equal to the Principal Portion of Basic Rent being so prepaid plus the Interest Portion of Basic Rent accrued thereon to such Basic Rent Payment Date. The Principal Portion of Basic Rent prepaid pursuant to the provisions of this Section 10.02 will be in integral multiples of $5,000 and will be credited against such Basic Rent Payments as shall be determined by the City in its sole and absolute discretion. Upon any partial prepayment, the amount of each Interest Portion of Basic Rent coming due thereafter will be reduced by the amount of such Interest Portion attributable to such prepaid Principal Portion determined by applying the annual interest rate corresponding to such prepaid Principal Portion as shown on Exhibit B.