Advances of Principal Sample Clauses

Advances of Principal. From time to time, and upon the written request of Borrower, funds will be advanced by Lender to Borrower (each an "Advance"). The amount and date of each Advance shall be at the discretion of Borrower; provided, however, that the sum total of the Advances shall not exceed the Maximum Loan Amount. The Loan, together with any Advances thereunder, shall be evidenced by a promissory note and the advance requests attached thereto, in the form of Exhibit 1.2 attached hereto (the "Master Note").
Sample 1
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Advances of Principal. Subject to Borrower's compliance with the required terms and conditions of the Credit Agreement, Lender, during the Borrowing Period, agrees to make loans and advances of principal to Borrower upon the pledge and physical delivery to Lender of Pledged Accounts by Borrower so long as, and to the extent that, the Obligations outstanding (inclusive of all Advances) do not exceed either the Borrowing Base or the Maximum Line Amount. Advances made pursuant to this Paragraph 2 (D) shall not be made more frequently than weekly, or in amounts less than $25,000 per Advance. Borrower shall be allowed to reborrow principal during the Borrowing Period at an advance rate, however, which shall not exceed ninety percent (90%) of the principal amount of any Qualified Pledged Account which is pledged to Lender as collateral for said reborrowing. Any reborrowings (those occurring after new borrowings have first aggregated the Maximum Line Amount) shall not be subject to the Origination Fee specified in Paragraph 2(G) below.
Sample 1
Advances of Principal. On the terms and subject to the conditions set forth in this Credit Agreement, Lender will make advances to the Company ("Advances") as set forth below, in a principal amount outstanding at any time not to exceed Four Million Dollars ($4,000,000) (the "Committed Amount") On the Closing Date, subject to the satisfaction of the conditions set forth in Section 9.8, the Lender shall make an Advance to the Company of Two Million Dollars ($2,000,000) (the "Initial Advance"). Subject to the terms and conditions of this Credit Agreement, Lender shall make an Advance of the balance of the Committed Amount, Two Million Dollars ($2,000,000), to the Company thirty (30) days after the date hereof (the "Second Advance"). Subject to the terms of this Credit Agreement after the date of the Second Advance and through the tenth business day preceding the Scheduled Maturity Date, the Company may from time to time prepay and reborrow Advances up to the Committed Amount ("Subsequent Advances"). Lender shall maintain an account or accounts evidencing the indebtedness of the Company resulting from each Advance owing to Lender from time to time, including the amounts of principal and interest payable and paid to Lender from time to time hereunder. The entries made in such account or accounts shall be conclusive and binding for all purposes, absent manifest error.
Sample 1

Related to Advances of Principal

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payments of Principal If an Early Amortization Period has not begun, on the Expected Final Payment Date, or on each Payment Date for an Early Amortization Period, and if the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will withdraw an amount up to the aggregate Note Balance of Series 20 - from the Series 20 - Principal Funding Account for payment in the following order of priority: (i) to the Noteholders of [the][each Class of] Class A Notes, [pro rata based on the principal amount of each Class of Class A Notes,] until the Note Balance of [the][each Class of] Class A Notes is reduced to zero, (ii) to the Noteholders of Class B Notes, until the Note Balance of the Class B Notes is reduced to zero, (iii) to the Noteholders of the Class C Notes, until the Note Balance of the Class C Notes is reduced to zero and (iv) to the Noteholders of the Class D Notes, until the Note Balance of the Class D Notes is reduced to zero.

  • LOANS AND PAYMENTS OF PRINCIPAL Amount Type Amount of of of Principal Maturity Notation Date Loan Loan Repaid Date Made By ----- ------- ------ ----------- ---------- ---------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EXHIBIT B - Money Market Quote Request Form of Money Market Quote Request [Date] To: Morxxx Xxaranty Trust Company of New York, as Administrative Agent (the "Agent") From: Nortel Networks Inc. Re: Five Year Credit Agreement (as amended from time to time, the "Credit Agreement") dated as of April 12, 2000 among Nortel Networks Inc., Nortel Networks Corporation, the Banks and Co-Syndication Agents parties thereto and the Agent We hereby give notice pursuant to Section 2.03 of the Credit Agreement that we request Money Market Quotes for the following proposed Money Market Borrowing(s): Date of Borrowing: ------------------ Principal Amount(1) Interest Period (2) ------------------- ------------------- $ Such Money Market Quotes should offer a Money Market [Margin] [Absolute Rate]. [The applicable base rate is the London Interbank Offered Rate.] Terms used herein have the meanings assigned to them in the Credit Agreement. NORTEL NETWORKS INC. By ------------------------ Name: Title: -------- (1) Amount must be $25,000,000 or a larger multiple of $5,000,000.

  • Payment of Principal Premium, if any, and Interest; Interest on Overdue Principal; Principal, Premium, if any, and Interest Rights Preserved.

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38 ARTICLE IV PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS

  • Default in Payment of Principal of Loans and Reimbursement Obligations The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).

  • Distributions of Principal On each Payment Date, the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) pay any amounts allocated to principal under Section 8.2(c) in the following order of priority, in each case, applied pro rata according to the Note Balance of the Notes of that Class:

  • Payment of Principal and Interest The Company covenants and agrees that it will cause to be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

  • Calculation of Principal Amount of Notes The aggregate principal amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so consented, by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, and Section 13.06 of this Indenture. Any calculation of the Applicable Premium made pursuant to this Section 2.13 shall be made by the Company and delivered to the Trustee pursuant to an Officers’ Certificate.

  • Payments of Principal and Interest (a) Payments on Notes issued as Book-Entry Notes will be made by or on behalf of the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Payment Date by either (i) check mailed to such Person's address as it appears in the Note Register on such Record Date, or (ii) by wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder (A) is the registered holder of Definitive Notes having an initial principal amount of at least $1,000,000 and (B) has provided the Indenture Trustee with wiring instructions in writing by five Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date, except for the final installment of principal payable with respect to such Note (or the Redemption Price for any Note called for redemption, if such redemption will result in payment of the then entire unpaid principal amount of such Note), which shall be payable as provided in subsection (b) below of this Section 2.08. A fee may be charged by the Indenture Trustee to a Noteholder of Definitive Notes for any payment made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07.

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