Interest and Principal Payments Clause Examples
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Interest and Principal Payments. Except earlier upon any acceleration of the Note:
(i) Borrower promises to pay to Lender monthly Accrued Interest Payments on the last day of each calendar month for interest accrued during such calendar month, unless Lender makes an Interest Reserve Accrual to defer such Accrued Interest Payment, as provided in Section 5(b) of this Agreement;
(ii) in addition to the payments required by the provisions of the clause above, concurrently with each Disposition of the Mortgaged Property in whole or in part or any Lot thereof, Borrower promises to pay Lender, the applicable Partial Release Amount for the portion of the Mortgaged Property or Lot so released from Lender’s Lien, which is due and payable prior to Lender providing to Borrower (or releasing from escrow with the Title Company) its partial release of Lien on such portion of the Mortgaged Property or Lot so released; and
(iii) in addition to the payments required by the provisions of the clauses above, concurrently with the occurrence of any Revenue Event, Borrower promises to pay to Lender the applicable Partial Release Amount of the proceeds from or relating to such Revenue Event up to, but not exceeding the amount of the unpaid Debt; and
(iv) in addition to the payments required by the provisions of the clauses above, Borrower promises to pay to Lender the outstanding principal balance of the Note, together with all accrued, unpaid interest thereon, unpaid Loan Expenses and other unpaid amounts due under the Loan Documents, on or prior to the Maturity Date.
Interest and Principal Payments. Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.
Interest and Principal Payments. (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; and (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate.
(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(ii) If any amount (other than principal of any Loan) payable by the Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iii) Upon the request of the Required Lenders, while any Event of Default exists, the Borrower shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws.
(iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand.
(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.
Interest and Principal Payments. Your local school bond will bear interest from the dated date, which date will be 16 days prior to the Closing Date1 set forth in the Bond Sale Agreement (or such other date set by VPSA) and will mature on July 15 of the years and in the amounts as established by VPSA. Your local school bond will bear interest payable in installments due semiannually on January 15 and July 15. The first interest installment will be payable on January 15, 2022. The first principal installment will be payable on July 15 of the year selected in the Bond Sale Agreement. The principal installments of your local school bond will bear interest at rates 5 basis points (0.05%) above the actual rates on the VPSA Bonds with corresponding principal payment dates.
Interest and Principal Payments. (a) The Company shall pay interest on the unpaid principal amount of each Loan from the date of the making thereof until the principal amount thereof shall be paid in full at a rate of 7.5% per annum. Interest shall be due and payable by the Company with respect to each Loan quarterly, in arrears on the last Business Day of each calendar quarter. All amounts paid shall first be applied to any accrued but unpaid interest. All payments required to be made by the Company under this Agreement shall be paid to the Lender to an account of the Lender designated to the Company in writing.
(b) On or prior to June 30, 2001, the Company may repay all or a portion of the outstanding principal amount of the Note in its sole discretion (by approval of the Non-Alpharma Directors) on no more than one occasion in each calendar quarter on the last Business Day of such calendar quarter. Subject to the terms and conditions of this Agreement, amounts so repaid may be reborrowed pursuant to Section 2.1 on or prior to December 31, 2001. The Company shall repay the aggregate principal amount of the Note outstanding as of December 31, 2001 in accordance with the following schedule: % of Principal Amount of Note Date of Payment Outstanding as of December 31, 2001 ------------------------------------------------------- March 30, 2004 5% June 30, 2004 5% September 30, 2004 5% December 31, 2004 5% March 30, 2005 10% June 30, 2005 70% provided that any then remaining principal and interest outstanding with respect to the Note shall be paid in full on June 30, 2005. Notwithstanding the foregoing, Loans made pursuant to Section 2.6 may not be repaid by the Company.
(c) Notwithstanding the foregoing, if the Closing Date has not occurred on or prior to September 30, 1999 (i) the Lender shall have no further obligation to make Loans and (ii) all unpaid principal and accrued interest on the Note shall be and become immediately due and payable by the Company without any declaration or other act on the part of any Holder.
(d) If any required payment of principal or interest is not paid when due, whether at stated maturity, by acceleration or otherwise, the interest rate applicable to the 13 18 amount of any such payment shall be the 7.5% per annum provided above plus an additional 2% per annum, all payable on demand.
Interest and Principal Payments. I. For TWD time deposits and simple-interest savings deposits, interests are paid once a month while principals are recovered upon maturity. For compound-interest savings deposits, interests are accrued on a compound basis and paid together with principal upon maturity. Termination beyond the scheduled maturity is subject to interest penalties according to law.
II. For foreign currency time deposits, interests are accrued on a simple basis and paid together with principal upon maturity. Alternatively, arrangements can be made to pay interests monthly and principals upon maturity. Termination beyond the scheduled maturity is subject to interest penalties according to law.
Interest and Principal Payments. The aggregate unpaid principal amount of the Loan, all accrued and unpaid interest and all other amounts payable under this Note shall be due and payable on the Maturity Date.
Interest and Principal Payments. The principal amount of the indebtedness evidenced hereby shall be payable in the amounts and on the dates specified in the Loan Agreement, the terms of which are hereby incorporated herein by reference. Interest thereon shall be paid until such principal amount is paid in full at such interest rates and at such times, and pursuant to such calculations, as are specified in the Loan Agreement.
Interest and Principal Payments. I. For TWD time deposits and simple-interest savings deposits, interests are paid once a month while principals are recovered upon maturity. For compound-interest savings deposits, interests are accrued on a compound basis and paid together with principal upon maturity. Termination beyond the scheduled maturity is subject to interest penalties according to law.
II. For foreign currency time deposits, interests are accrued on a simple basis and paid together with principal upon maturity. Alternatively, arrangements can be made to pay interests monthly and principals upon maturity. Termination beyond the scheduled maturity is subject to interest penalties according to law.
III. For foreign currency installment savings deposits, principals are deposited on a monthly basis and paid together with interest in one lump-sum upon maturity.
IV. In the event that a time deposit is pledged as collateral and the pledgee does not allow interests to be paid to the deposit holder or have the time deposit automatically renewed upon maturity, the Bank shall no longer make interest payments or renew the pledged time deposit for the Principal. In which case, the Principal shall be solely liable for any future disputes.
Interest and Principal Payments. (a) Interest on each Eurodollar Rate Borrowing shall be due and payable as it accrues on the last day of its respective Interest Period and on the Termination Date for the applicable 32 ▇▇▇▇▇▇/SYGNET OPERATING CREDIT AGREEMENT Facility; PROVIDED THAT, (i) with respect to Eurodollar Rate Borrowings having an Interest Period in excess of three (3) months, Borrower shall pay interest quarterly in arrears on the last Business Day of each March, June, September, and December, commencing on the first such date after the date on which such Interest Period commences and continuing on the last Business Day of each March, June, September, and December thereafter and on the expiration of each Interest Period. Interest on each Base Rate Borrowing shall be due and payable as it accrues on each March 31, June 30, September 30, and December 31, and on the Termination Date for the applicable Facility.
(b) The aggregate Principal Debt under each Facility on the Termination Date applicable to such Facility shall be due and payable on the Termination Date for that Facility.
(c) The Revolver Commitment in effect on the Closing Date, shall be permanently reduced for the ratable account of the Revolver Lenders by the percentages specified below on the corresponding reduction dates set forth as follows (which amount shall be reduced as a result of the application of commitment reductions and prepayments in accordance with SECTIONS 2.7 and 3.11): Reduction Date Percentage Reduction -------------- -------------------- December 31, 2000 5.000% March 31, 2001 1.875% June 30, 2001 1.875% September 30, 2001 1.875% December 31, 2001 1.875% March 31, 2002 1.875% June 30, 2002 1.875% September 30, 2002 1.875% December 31, 2002 1.875% March 31, 2003 3.125% June 30, 2003 3.125% September 30, 2003 3.125% December 31, 2003 3.125% March 31, 2004 3.750% June 30, 2004 3.750% September 30, 2004 3.750% December 31, 2004 3.750% March 31, 2005 6.250% June 30, 2005 6.250% September 30, 2005 6.250% December 31, 2005 6.250% March 31, 2006 9.166% June 30, 2006 9.167% September 30, 2006 9.167%
(d) The Term Loan A Principal Debt shall be repaid for the ratable account of the Term Loan A Lenders on the following dates in the amounts indicated, determined as a percentage of the Term Loan A Principal Debt outstanding on the Closing Date (which amount shall be 33 ▇▇▇▇▇▇/SYGNET OPERATING CREDIT AGREEMENT reduced as a result of the application of prepayments in accordance with the order of priority set forth i...