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break funding payment

English translation: see explanation

16:43 Apr 24, 2007
English language (monolingual) [PRO]
Law/Patents - Finance (general) / terminos y condiciones, financiero
English term or phrase: break funding payment
Estoy traduciendo un contrato Americano que es un Loan Agreement, cuyo texto tienen un sinnumero de titulitos, y no sé que quiere decir éste. Me podrán ayudar? Gracias
lina aida
Local time: 11:26
Selected answer:see explanation
Explanation:
It's a payment to the lender (contractual "penalty") to cover the lender's costs in the event of a "break funding event". See sample definition below. Just be wordy and explain that it is to cover the cost of any event that extinguishes the loan before its due date.
Selected response from:

rkillings
United States
Local time: 09:26
Grading comment
Yes, I think it applies, I will be using it. Many tks for your help
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
3see explanation
rkillings


Discussion entries: 3





  

Answers


1 day 9 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
see explanation


Explanation:
It's a payment to the lender (contractual "penalty") to cover the lender's costs in the event of a "break funding event". See sample definition below. Just be wordy and explain that it is to cover the cost of any event that extinguishes the loan before its due date.

Example sentence(s):
  • "Libor Break Funding Event" means the prepayment (whether by acceleration or otherwise) of any LIBOR Rate Loan other than upon the final day of the Interest Period therefor.
rkillings
United States
Local time: 09:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Yes, I think it applies, I will be using it. Many tks for your help
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