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Financing advice for new office

captruss24 said:
Every prepayment penalty that we've put on commercial paper (typical 3/2/1%) relates to outside refinances by another lender....not if you prepay with internally generated funds. Ask for clarification.
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The more you know. I suppose we'd never ever really do it with internally generated funds so it doesn't really affect me, but I guess I need to read my loan docs more carefully. Can't you get around this by raising equity, repaying debt, taking out new debt?
 
palmab03 said:
The more you know. I suppose we'd never ever really do it with internally generated funds so it doesn't really affect me, but I guess I need to read my loan docs more carefully. Can't you get around this by raising equity, repaying debt, taking out new debt?
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yeah, you could get around it that way. our docs say any prepayment but we will often waive the penalty if it is true excess cash flow that is used to repay. however, that is at the bank's discretion.
 
Sure, we have gotten out of some prepays on non CMBS loans, but I've never seen anything in my docs specifying the differences between prepays from various sources, which I would imagine would have tons of definitions and be large enough paragraphs stipulating it that I would be surprised if they're in there cause I'd have to suck to miss them.

for some reason (obv Lakers related) I thought you were on the West coast too, your left coast comment threw me for a loop. Did you used to live out here?
 
yeah, our docs don't differentiate, it's just bank guidance to be more lenient on waiving PPP when we aren't losing the company's other business.

i'm born and bred in NC. lakers fan since the tail end of magic's first stint with the lakers. i learned to play basketball from a homeless dude my mom used to talk sports with at the soup kitchen she volunteered at. he was a huge lakers fan and got me hooked. i get a lot of bandwagon noise from the haterz, but it's hard to undo something like that, especially if it didn't happen during the van exel, eddie jones days while everyone around you is a jordan fan and the bulls are running off chips left and right.
 
I just coulda swore I read things or posts that made me think you were living in like the outskirts of LA or something.
 
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