Loan Amortization Clause Samples
The Loan Amortization clause defines how a loan will be repaid over time through scheduled, periodic payments that cover both principal and interest. Typically, this clause outlines the frequency of payments, the method for calculating the amount due each period, and the allocation of each payment between interest and principal reduction. By specifying these terms, the clause ensures both parties understand the repayment structure, providing predictability for the borrower and security for the lender.
Loan Amortization. Principal and interest per the initial amortized interest rate shall become due and payable in 36 monthly payments beginning on the first Payment Date of the month following the date hereof each in the amount of $52,001.52, which includes the monthly CFG Service Fee. The amount of the monthly payments and the final payment may be adjusted as a consequence of the terms of this Loan Agreement allowing for fluctuation in the Prime Interest Rate. Borrower shall repay the Loan through scheduled payments on each Payment Date, each equal to the applicable amount set forth in the loan parameters below (or, if less, the outstanding amount of the Loan): Loan Parameters Loan Amount $ 1,604,972.00 Amortized Rate 10.25% First Payment Date April 24, 2008 Payment Amount $ 51,976.52 Service Fee (per month) $ 25.00 Applied to Loan $ 52,001.52 Payment Period Monthly Number of Payments 36
Loan Amortization. RentalToken SL may repay the Loan early. In case of early repayment, RentalToken SL will comply with the requirements of RDL 7/1996, of June 7, art. ▇▇.▇▇▇.(b)
Loan Amortization. The loan will be amortized for quarterly periods, maturing on the last day of each calendar quarter, in accordance with the amortization table attached as an annex to this contract, which may be adjusted to the amount of capital actually lent or to the amount resulting at the time of practice. liquidation.
Loan Amortization. The Borrower shall repay the Loan in installments as set forth on Schedule 2.5.
Loan Amortization. 19 2.6 Maturity ..................................................... 19 2.7
Loan Amortization. Without prejudice to the provisions of other sections of this Agreement, the Borrower shall pay Bancomext each of the Loan Disbursements through the corresponding quarterly amortizations on the dates and for the amounts established in the Amortization Schedule.which is attached to the Fourth Amendment
Loan Amortization. Participant loans shall provide for level amortization, with payments to be made not less frequently than quarterly over a period not to exceed five (5) years. However, loans used to acquire any dwelling unit which, within a reasonable time, is to be used (determined at the time the loan is made) as a “principal residence” of the Participant shall provide for periodic repayment over a reasonable period of time that may exceed five (5) years. For this purpose, a “principal residence” has the same meaning as a “principal residence” under Section 1034 of the Code. Loan repayment may be suspended under this Plan as permitted under Section 414(u)(4) of the Code.
Loan Amortization. IHSThe Tranche A-1 Borrower shall repay the Tranche A-1 Loans on each date set forth below (each aan “Principal Repayment Date”) in the aggregate principal amount set forth opposite such date: CREDIT AGREEMENT, Page 28 007751-0138-14324-Active.18411811 #86414519v6 February 28, 2015 $8,750,000 May 31, 2015 $8,750,000 August 31, 2015 $8,750,000 November 30, 2015 $8,750,000 February 29, 2016 $8,750,000 May 31, 2016 $8,750,000 August 31, 2016 $8,750,000 November 30, 2016 $8,750,000 February 28, 2017 $17,500,000 May 31, 2017 $17,500,000 August 31, 2017 $17,500,000 November 30, 2017 $17,500,000 February 28, 2018 $17,500,000 May 31, 2018 $17,500,000 August 31, 2018 $17,500,000 November 30, 2018 $17,500,000 February 28, 2019 $17,500,000 May 31, 2019 $17,500,000 August 31, 2019 $17,500,000 Maturity Date $437,500,000
Loan Amortization. The Accredited party undertakes:
1) To reimburse Sofoplus the amount of the sums disbursed under the Loan, together with the accrued interest, in accordance with the terms of the promissory note that documents each disbursement.
2) That in no case shall the amount of the disbursements made against the Loan exceed the established limit, where applicable the due dates of the promissory notes or the disbursement letters that document them, nor the validity of this Agreement.
3) SOFOPLUS reserves the right from now on to agree and/or notify the Accredited of any facility or extension in the dates indicated for payment both in the Payment Calendar and in the dates originally agreed for its amortization.
4) The application of the payments made by the Accredited to Sofoplus will be to cover their debts in the following order:
a) Legal or collection expenses, insurance or other accounted-for items, if any,
b) Value Added Tax on late payment interest, if generated,
c) Default interest,
d) Value Added Tax on ordinary interest, e) Ordinary interest, f) Overdue capital,
Loan Amortization. In addition to all other payments required to be made by Borrower, Borrower shall make payments to Foothill in the amount of $400,000 on the last day of each calendar quarter commencing on December 31, 1998 and on the last day of each calendar quarter thereafter during the term of the Agreement. In addition to the foregoing payments, in the event that Borrower's "Adjusted Cash Flow Amount" for any of the above-referenced calendar quarter exceeds the amount of the above-referenced payment to be made in the last day of such calendar quarter, Borrower shall pay Foothill fifty percent (50%) of such excess amount by not later than 45 days after each such calendar quarter except that such excess amount shall be paid by not later than 90 days after each calendar quarter ending on December 31. For purposes hereof, the "Adjusted Cash Flow Amount" for each calendar quarter shall be calculated in accordance with the following formula: operation income plus depreciation plus amortization plus any other one time accounting adjustments that are non-cash items minus all interest minus all fees paid to Foothill and minus $625,000. Borrower shall deliver to Foothill by no later than 45 days after each calendar quarter, a certificate signed by Borrower's chief financial officer setting forth the calculation of Borrower's Adjusted Cash Flow Amount for such calendar quarter except that such certificate may be delivered to Foothill by not later than 90 days after each calendar quarter ending on December 31."
C. Section 3.4 of the Agreement is hereby amended to read as follows: