Basic Loans; Term and Maturities, etc Sample Clauses

Basic Loans; Term and Maturities, etc. Provided that the Project Construction Completion Date shall precede the Completion Deadline Date and the other conditions set forth in sections 2.2 and 2.3 are satisfied, on the Project Construction Completion Date the Interim Loan of each Lender then outstanding together with accrued and unpaid interest thereon (collectively, the "Initial Principal Amount" of such Lender's Basic Loan) shall, automatically and without any further act on the part of any Person (and simultaneously with the like conversion of the Interim Loan of each of the other Lenders), be converted into a single loan of such Lender to the Borrowers (the "Basic Loan" of such Lender). The Administrative Agent shall confirm in writing to each of the Borrowers and the Lenders the fact and effective date of such conversion. The Interim Loan and the Basic Loan of such Lender are herein sometimes referred to collectively as the "Loans" of such Lender and the date on which the Interim Loans are converted to Basic Loans hereunder is herein sometimes referred to as the "Basic Loan Commencement Date." The Basic Loan of each Lender shall be payable in twenty (20) consecutive quarterly installments of principal, with one installment due on the same day of the month (or, if there be none, then on the final day of the month) corresponding to the day preceding the Basic Loan Commencement Date in each of the third, sixth, ninth and twelfth months following the month containing the day preceding the Basic Loan Commencement Date, and continuing on successive anniversaries of each of such first four payment dates through and including the due date for the twentieth such quarterly installment or until the Basic Loans shall be sooner paid in full with interest. In the case of each Lender's Basic Loan, each of the first four of such consecutive quarterly installments of principal shall be in an amount equal to 3% of the Initial Principal Amount of such Lender's Basic Loan and each of the remaining sixteen of such consecutive quarterly installments of principal shall be in an amount equal to 5.5% of the Initial Principal Amount of such Lender's Basic Loan. In all events, any amounts remaining outstanding on the Basic Loans shall be due and payable on the fifth anniversary of the Basic Loan Commencement Date and the final installment of principal payable by the Borrowers in respect of each Basic Loan shall be in an amount sufficient to repay in full with interest all amounts owing by the Borrowers under this Agr...
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Related to Basic Loans; Term and Maturities, etc

  • Final Maturity Date 23 Fitch.........................................................................................23

  • Additional Term Loans Subject only to the satisfaction or waiver of the conditions expressly set forth in Section 4 of the Eleventh Amendment, each 2014-1 Additional Term Lender agrees to make a loan in Dollars (the “2014-1 Additional Term Loans”) to the Borrower on the Eleventh Amendment Effective Date in the aggregate principal amount of such Lender’s 2014-1 Additional Term Commitment. No amount of a 2014-1 Additional Term Loan which is repaid or prepaid by the Borrower may be reborrowed hereunder. The 2014-1 Additional Term Loans shall be denominated in Dollars, shall be maintained as and/or converted into Base Rate Loans or Eurocurrency Loans or a combination thereof, provided, that all 2014-1 Additional Term Loans made by the 2014-1 Additional Term Lenders pursuant to the same Borrowing shall, unless otherwise specifically provided herein, consist entirely of 2014-1 Additional Term Loans of the same Type. The proceeds of the 2014-1 Additional Term Loans made on the Eleventh Amendment Effective Date shall be placed into escrow with the Eleventh Amendment Escrow Agent on the terms set forth in the Eleventh Amendment Escrow Agreement. Subject only to the satisfaction or waiver of the conditions set forth in (x) Section 5.5 or (y) Section 5.2 and Section 5.6, as applicable, and the additional conditions expressly set forth in the Eleventh Amendment Escrow Agreement, the 2014-1 Additional Term Loans shall be released from escrow on the Eleventh Amendment Release Date. If the 2014-1 Additional Term Loans Termination Date occurs, the proceeds of the 2014-1 Additional Term Loans shall be released from escrow on the conditions set forth in the Eleventh Amendment Escrow Agreement and refunded and repaid in full (together with all accrued and unpaid interest thereon) to the 2014-1 Additional Term Lenders on the 2014-1 Additional Term Loan Maturity Date in accordance with the Eleventh Amendment Escrow Agreement.

  • Interest After Maturity Any amount of the Loans not paid when due, whether at the date scheduled therefor or earlier upon acceleration, shall bear interest until paid in full at a rate per annum equal to the greater of (i) 2.00% in excess of the rate applicable to the unpaid principal amount immediately before it became due, or (ii) 2.00% in excess of the Base Rate in effect from time to time.

  • Original Terms to Maturity The original term to maturity of substantially all of the Mortgage Loans included in the Mortgage Pool shall be between 20 and 30 years.

  • Tranche A Term Loans Subject to the terms and conditions set forth herein, each Tranche A Term Loan Lender agrees to make a Tranche A Term Loan to the Borrower on the Effective Date in a principal amount not exceeding its Tranche A Term Loan Commitment. Amounts repaid in respect of Tranche A Term Loans may not be reborrowed hereunder.

  • Final Maturity The Stated Maturity Date for any Note will be the date so specified in the Supplement, which shall be no later than 397 days from the date of issuance. On its Stated Maturity Date, or any date prior to the Stated Maturity Date on which the particular Note becomes due and payable by the declaration of acceleration, each such date being referred to as a Maturity Date, the principal amount of each Note, together with accrued and unpaid interest thereon, will be immediately due and payable.

  • Termination Prior to Maturity Date; Survival All covenants, representations and warranties made in this Agreement shall continue in full force until this Agreement has terminated pursuant to its terms and all Obligations have been satisfied. So long as Borrower has satisfied the Obligations (other than inchoate indemnity obligations, and any other obligations which, by their terms, are to survive the termination of this Agreement, and any Obligations under Bank Services Agreements that are cash collateralized in accordance with Section 4.1 of this Agreement), this Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Those obligations that are expressly specified in this Agreement as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination.

  • Tranche B Term Loans Each Lender that has a Tranche B Term Loan Commitment severally agrees to lend to Borrower on the Closing Date an amount not exceeding its Pro Rata Share of the aggregate amount of the Tranche B Term Loan Commitments to be used for the purposes identified in subsection 2.5A. Borrower shall deliver to Administrative Agent a Notice of Borrowing no later than 12:00 Noon (New York City time) at least one Business Day prior to the Closing Date, requesting a borrowing of the Tranche B Term Loans. The Notice of Borrowing shall specify (i) the proposed Funding Date (which shall be a Business Day), and (ii) that such Loans shall be Base Rate Loans. The aggregate amount of the Tranche B Term Loan Commitments is $45,000,000; PROVIDED that the Tranche B Term Loan Commitments of Lenders shall be adjusted to (1) give effect to any assignments of the Tranche B Term Loan Commitments pursuant to subsection 10.1B and (2) any increase in Tranche B Term Loans pursuant to subsection 2.1A(iv). Each Lender's Tranche B Term Loan Commitment shall expire immediately and without further action on March 31, 2002 if the Tranche B Term Loans have not been made on or before that date. Subject to subsection 2.1A(iv), Borrower may make only one borrowing under the Tranche B Term Loan Commitments. Amounts 35 borrowed under this subsection 2.1A(ii) and subsequently repaid or prepaid may not be reborrowed.

  • Extension of the Maturity Date (a) Borrower shall have the option to extend the term of the Loan beyond the Initial Maturity Date for one year, until the First Extended Maturity Date, upon satisfaction of the following terms and conditions:

  • Repayment of Term Loans and Revolving Facility Loans (a) Subject to the other clauses of this Section 2.10 and to Section 9.08(e),

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