Initial Principal Payment Clause Samples

Initial Principal Payment. Maker shall pay to the Holder the sum of Forty Million and XX/100 Dollars ($40,000,000.00) (the "First Installment") on July 14, 2001 (the "First Anniversary Date"). Notwithstanding the foregoing, Maker may extend the payment date of the First Installment to a payment date no later than July 14, 2002 (the "Second Anniversary Date"), subject to the interest adjustment provisions set forth in Section 2.2 herein.