A declining prepayment premium charged for voluntary refinancings during the early years of a loan's life, designed to compensate the lender for foregone spread and reinvestment risk. The standard middle-market schedule is 102 in Year 1 (NC-1), 101 in Year 2, and par thereafter; soft-call protection on cov-lite TLBs is typically a single 101 premium for the first six months following any repricing event.