In re Denver Merchandise Mart: Fifth Circuit Rejects Prepayment Premium on Debt Accelerated but Not Prepaid | Practical Law
The US Court of Appeals for the Fifth Circuit, in Bank of New York Mellon v. GC Merchandise Mart, LLC (In re Denver Merchandise Mart, Inc.), held that a prepayment premium was not triggered upon the mere acceleration of a note without actual prepayment in the absence of a clear and unambiguous contractual provision providing for such payment.