Monthly Amortization definition

Monthly Amortization means the amortization of this Debenture pursuant to Section 6(b) hereof.
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Monthly Amortization means, with respect to any month during the Base Term of any Leased Asset, the amount of amortization specified for such month in the Lease Supplement for such Leased Asset.
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Monthly Amortization means with respect to any Measuring Period for any Portfolio Railcar subject to a Finance Lease, the Net Investment Value of such Portfolio Railcar on the last day of the immediately preceding Measuring Period minus the Net Investment Value of such Portfolio Railcar on the last day of such Measuring Period. “Monthly Depreciation” means, “Monthly Depreciation” means(a) for any Portfolio Railcar subject to an Operating Lease, with respect to any Measuring Period, the aggregate depreciation expense of the Borrower for such Measuring Period in respect of the Portfolio Railcars, calculated for each such Portfolio Railcar based upon the Original Purchase Price therefor paid by the Borrower (in the case of Portfolio Railcars purchased by the Borrower from a seller other than TILC) or TILC (in the case of Portfolio Railcars transferred to the Borrower under the Asset Contribution and Purchase Agreement), using the straight-line method of depreciation and assuming a 10.00% residual value and a useful life of 35 years from the date of manufacture according to the following: Monthly Depreciation = ULM R ULM AR OPP )1( )1( 1     Where: “OPP” equals the Original Purchase Price with respect to such Portfolio Railcar; “R” equals 0.10 (the residual value of any Portfolio Railcar); “A” equals the age of such Portfolio Railcar, as of the Funding Date with respect to such Portfolio Railcar, expressed in months since date of manufacture; and “ULM” equals 420 (the useful life of any Portfolio Railcar, expressed in terms of months).; and 747656567 17557858 39 Fifth Amended and Restated Warehouse Loan Agreement
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Examples of Monthly Amortization in a sentence

  • Payments of the Monthly Amortization Amount shall reduce the Allocated Loan Amounts for each Property on a pro rata basis.

  • In addition to any monthly payments of interest due pursuant to Section 1.2(a) above, if the First Extension Option and/or the Second Extension Option are timely exercised by Borrower in strict accordance with the terms and conditions of Section 2.9 of the Project Loan Agreement, during the applicable Extension Term Borrower shall, on each Payment Date, pay the Monthly Amortization Payment.

  • Subject to Section 2.6, Borrower shall, on each Payment Date, repay the Outstanding Principal Amount in an amount equal to the Monthly Amortization Amount for such Payment Date.

  • Any principal amount of this Debenture converted during the applicable Monthly Conversion Period in excess of the Monthly Amortization Amount shall be applied against the last principal amount of this Debenture scheduled to be amortized hereunder, in reverse time order from the Maturity Date.

  • If any portion of the payment pursuant to an Monthly Amortization shall not be paid by the Company by the applicable due date, interest shall accrue thereon at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted by applicable law until such amount is paid in full.

  • Following the Monthly Amortization Date, the Holder shall have the right to convert, from time to time in the Holder’s sole discretion, the Monthly Amortization Amount at the Alternate Conversion Price as determined from time to time as and when converted.

  • The Borrowers shall promptly, but in any event no later than the Payment Date, pay the Monthly Amortization Amount (or applicable portion thereof specified in the Monthly Amortization Notice) to the Lenders.

  • The Lenders may exercise such right for a calendar month by sending a written notice (each a “Monthly Amortization Notice”), executed by the Required Lenders, to the Borrowers at least five (5) Business Days prior to the Payment Date for such calendar month, which Monthly Amortization Notice shall specify the principal amount to be repaid up to the Monthly Amortization Amount.

  • As of the Effective Date, the parties hereto agree that the Borrowing Base shall be equal to $280,000,000, the Projected Borrowing Base for July 1, 2007 shall be equal to $240,000,000, and the Borrowing Base Monthly Amortization Rate shall be equal to $10,000,000 until such time as the Borrowing Base, Projected Borrowing Base and Borrowing Base Monthly Amortization Rate are redetermined in accordance with the First Lien Credit Agreement.

  • Commencing on the Amortization Date, the Lenders may, at their option upon the written election of the Required Lenders, require the Borrowers to repay the outstanding principal balance of the Term Loans in monthly installments in an amount per calendar month up to the Monthly Amortization Amount.


More Definitions of Monthly Amortization

Monthly Amortization means with respect to any Measuring Period for any Portfolio Railcar subject to a Finance Lease, the Net Investment Value of such Portfolio Railcar on the last day of the immediately preceding Measuring Period minus the Net Investment Value of such Portfolio Railcar on the last day of such Measuring Period.
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Related to Monthly Amortization

  • Early Amortization Event means any Early Amortization Event specified in Section 9.01 of the Agreement, together with any additional Early Amortization Event specified in Section 6.01 of this Series Supplement.

  • Amortization Period means, with respect to any Series, or any Class within a Series, a period following the Revolving Period during which principal is distributed to Investor Certificateholders, which shall be the controlled amortization period, the principal amortization period, the rapid amortization period, or other amortization period, in each case as defined with respect to such Series in the related Supplement.

  • Amortization means the gradual extinguishment of an amount in an account by distributing such amount over a fixed period, which may be over the life of the asset or liability to which it applies, or over the period during which it is anticipated the benefit will be realized.

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).

  • Expected Amortization Schedule means, with respect to any Tranche, the expected amortization schedule related thereto set forth in the Series Supplement.