Installments of Principal and Interest Sample Clauses

Installments of Principal and Interest. There shall be no requirement of repayment of this Loan so long as the Borrower shall faithfully perform its obligations hereunder to construct an industrial facility on the Property. Upon the Borrower's completion of the building and its receipt of a bona fide certificate of occupancy from each governmental authority having jurisdiction thereof, the Loan shall be deemed satisfied and paid in full. Upon the occurrence of any Event of Default, and provided such Event of Default shall not thereafter be timely cured as provided herein, then this Loan shall become immediately due and payable with interest as herein provided.
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Installments of Principal and Interest. Under the Note This loan provides a commercial loan in the amount of ONE MILLION EIGHT HUNDRED THOUSAND AND NO/100 DOLLARS ($1,800,000.00) for a term of one year, which term shall expire on the 31st day of July, 1997, if not renewed or extended by the Bank, at the Bank's sole option. Interest on this Loan of ONE MILLION EIGHT HUNDRED THOUSAND AND NO/100 ($1,800,000.00), shall be paid to the Bank in quarterly payments. The term of the Loan shall be a one (1) year period, requiring quarterly payments of interest on the outstanding balance of the principal borrowed and one final payment of the outstanding balance of accrued interest and principal borrowed due on the 31st day of July, 1997. This is a variable interest rate Note. The interest rate charged on the outstanding balance is a floating rate of one percent (1%) per annum in excess of the New York prime rate as quoted in the Wall Street Journal. On this date, the interest rate is nine and one quarter percent (9.25%) per annum. This interest rate may fluctuate on a daily basis. Any increase in the interest rate will result in higher quarterly interest payments. Notice by the Bank to the Borrower of any increase, decrease or no change, in the interest rate being charged shall be given prior to a payment of interest being due. In addition to the quarterly interest payments, Borrower will also make quarterly principal payments of FIFTY THOUSAND DOLLARS AND NO/100 ($50,000.00) each to be applied to the outstanding principal balance. The Loan may be renewed or extended at the sole discretion of the Bank.
Sample 1
Installments of Principal and Interest. Under the Note. This loan provides a loan in the amount of ONE MILLION EIGHT HUNDRED THOUSAND AND NO/100 DOLLARS ($1,800,000.00) for a term of one year, which term shall expire on the 31st day of July, 1997, if not renewed or extended by the Bank, at the Bank's sole option. The Borrower shall use the funds from this loan to refinance the existing line of credit with the Bank and may use any remaining proceeds as its operating capital pursuant to and in accordance with corporate resolutions passed and adopted by its Board of Directors. Interest on this Loan of ONE MILLION EIGHT HUNDRED THOUSAND AND NO/100 ($1,800,000.00), shall be paid to the Bank in quarterly payments. The term of the Loan shall be a one (1) year period, requiring quarterly payments of interest on the outstanding balance of the principal borrowed and one final payment of the outstanding balance of accrued interest and principal borrowed due on the 31st day of July, 1997. The amount of the quarterly interest payments shall be as stated in the Note and may change according to the Note terms. This is a variable interest rate Note. The interest rate charged on the outstanding balance is a floating rate of one (1%) percent in excess of the New York prime rate as quoted in the Wall Street Journal. On this date, the interest rate is nine and one-quarter percent (9.25%) per annum. This interest rate may fluctuate on a daily basis. Any increase in the interest rate will result in higher quarterly interest payments. Notice by the Bank to the Borrower of any increase, decrease or no change, in the interest rate being charged shall be given prior to a payment of interest being due. In addition to the quarterly interest payments, Borrower will also make quarterly principal payments of FIFTY THOUSAND DOLLARS AND NO/100 ($50,000.00) each to be applied to the outstanding principal balance. The Loan may be renewed or extended at the sole discretion of the Bank.
Sample 1
Installments of Principal and Interest. The form of repayment of the Loan and accrued interest thereon shall be dependent on Borrower’s level of compliance with the Jobs Requirement set forth in Section 4.13 hereinbelow. So long as Borrower remains in compliance with the Jobs Requirement, payments shall be due annually on the date and in the amounts set forth on the schedule attached to the Note as Exhibit 1, with the 15th and final payment thereon, in the amount of any remaining outstanding principal and all accrued but unpaid interest, to be due and payable on November 13, 2017 (the “Maturity Date”). If the Borrower should at any point subsequent to the first three years of the Loan cease to be in compliance with the Jobs Requirement, then from that point forward payments shall be due annually on the date and in the amounts set forth on the schedule attached to the Note as Exhibit 2, which payment represents amortization of the original principal over fifteen (15) years at two percent (2.00%) interest, with the final payment being due on the Maturity Date in the amount of any remaining outstanding principal balance and all accrued but unpaid interest. Any payments made on the Note, whether from Exhibit 1 or Exhibit 2, shall be applied first to accrued interest and then to principal.
Sample 1
Installments of Principal and Interest. (a) On the first day of the first calendar month after the date hereof (the "Initial Date"), Borrower shall pay to Lender an installment of interest equal to the amount of interest that has accrued on and from the date hereof up to and including the final day of the month prior to the Initial Date.
Sample 1

Related to Installments of Principal and Interest

  • 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.

  • 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.

  • Repayment of Principal and Interest (a) The entire outstanding principal balance of the Loans shall be due and payable by no later than 5:00 p.m. (Eastern time) on the Business Day on which the Loan is due, together with all remaining accrued and unpaid interest thereon, unless an extension of no more than three additional days is authorized by the Lending Company.

  • 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

  • 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.

  • Payment of Principal and Interest; Defaulted Interest (a) Each Class of Notes shall accrue interest at the related Interest Rate, and such interest shall be due and payable on each Payment Date as specified therein, subject to Sections 3.01 and 11.12 hereof. Any installment of interest or principal, if any, payable on any Note 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 on the Record Date by check mailed first-class postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Payment Date, a Redemption Date or on the related Final Scheduled Payment Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

  • Principal and Interest This Note will bear interest in the same manner as set forth in Section 3(a) above, and payments of principal and interest shall be made as set forth on the face hereof. Discount Notes may not bear any interest currently or may bear interest at a rate that is below market rates at the time of issuance. The difference between the Issue Price of a Discount Note and par is referred to as the “Discount”.

  • Payment of Principal, Premium, if any, and Interest The Company covenants and agrees for the benefit of the Holders of the Securities that it will duly and punctually pay the principal of and any premium and interest (including any Additional Interest) on the Securities in accordance with the terms of the Securities and this Indenture.

  • Payment of Principal, Premium and Interest The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

  • Principal and Interest Payments (a) (a) Each of the Series A Notes shall bear interest on the Relevant Principal Amount at the interest rate therefor specified in each such Series A Note from time to time outstanding in respect of the period commencing on and including the Commencement Date and ending on the date when the principal amount of such Series A Note shall have been paid in full, payable on each January 2 and July 2 in each year (the "Interest Payment Dates"), commencing the respective dates specified in Schedule 1.4 hereto in the column headed "Interest Payment Commencement Date"; provided, that if the Accreted Value of such Series A Note is not paid when due (upon redemption or acceleration or otherwise) during the Pre-Commencement Date Period, interest on the Accreted Value of such Series A Note as at the date such Accreted Value was not paid shall accrue (and be payable on demand of the Noteholder of record of such Series A Note) at the same interest rate per annum as is specified pursuant to Section 1.4 hereof from such date until such Accreted Value shall have been paid in full; provided, further, that additional interest accrued to any Interest Payment Date as the result of any increase in the interest rate borne by any Series A Note as provided in Section 1.4(b) hereof over what would have accrued or accreted to such date shall be paid in cash to the Noteholders of such Series A Note whether or not the Commencement Date for such Series A Note has occurred; and provided, further, that any other amounts payable to the Indenture Trustee or any Noteholder under this Indenture, any Series A Note or any other Operative Agreement but not paid in full when due (whether at Stated Maturity, by acceleration or otherwise), including any Defaulted Installment and, to the extent permitted by Applicable Law, Defaulted Interest, but excluding unpaid Accreted Value (which shall accrue interest pursuant to the first proviso of this paragraph), shall, for the period from and including the date such amount becomes due and payable until such amount shall have been paid in full, accrue interest at the applicable Late Rate.

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