Mandatory Amortization. (a) Upon the occurrence and during the continuance of a Credit Event with respect to any Purchased Loan, Buyer shall determine the Maximum Repurchase Price of such Purchased Loan on each Business Day during the existence of a Credit Event, and shall determine (i) the amount, if any, by which such Maximum Repurchase Price exceeds the Repurchase Price (excluding Price Differential) for such Purchased Loan (a “Mandatory Amortization Amount”).
Mandatory Amortization. On each Quarterly Amortization Date, Borrower shall repay the principal of the Facility in the amount of the corresponding Quarterly Amortization Amount.
Mandatory Amortization. (a) Mandatory payments on account of principal of the Loan shall be due and payable as follows: (i) Borrower shall make monthly payments of principal in the amount of $24,166.67 on the first (1st) day of each month, commencing on June 1, 2004 and ending on the Maturity Date. If not earlier paid, all outstanding principal and interest under the Loan shall be due and payable on the Maturity Date.
Mandatory Amortization. On June 28, 2018, the Borrower shall make a payment with respect to the principal amount of the Loans then outstanding equal to the amount (if any) by which such principal amount outstanding then exceeds $75,000,000.00.”
Mandatory Amortization. Beginning with the fiscal quarter ending December 31, 2020, Borrower shall repay to the ratable account of the applicable Lenders the aggregate principal amount of all Initial Term Loans then outstanding in quarterly installments calculated at the applicable percentages as determined by the applicable Leverage Ratio set forth below for such time period (which installments shall, to the extent applicable, be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.02) as set forth on the table below (the “Mandatory Amortization”):
Mandatory Amortization. Section 4(a) of the Repurchase Agreement is hereby deleted in its entirety and replaced with the following:
Mandatory Amortization. Borrower shall make mandatory amortization payments, each in the amount of $15,000,000, beginning on the last day of the third month following the Closing Date, and continuing every three (3) months thereafter, until the one (1) year anniversary of the first scheduled amortization payment. Beginning on the last day of the third month following the one year anniversary of the Closing Date, Borrower shall make mandatory amortization payments, each in the amount of $30,000,000 and continuing every three (3) months thereafter until the Maturity Date.
Mandatory Amortization a. The following definitions are hereby added to Section 1.1 of the Loan Agreement:
Mandatory Amortization. On the First Amendment Closing Date the Company will prepay $937,500 principal amount of the Notes at par and without payment of the Make-Whole Amount or any premium, together with interest on such Notes accrued to the First Amendment Closing Date at a rate of 7.05% per annum, and on each July 2 and January 2 thereafter to and including July 2, 2007, the Company will prepay $937,500 principal amount (or such lesser principal amount as shall then be outstanding) of the Notes at par and without payment of the Make-Whole Amount or any premium, provided that upon any partial prepayment of the Notes pursuant to Section 8.4, the principal amount of each required prepayment of the Notes becoming due under this Section 8.1 on and after the date of such prepayment shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes is reduced as a result of such prepayment. On January 2, 2008, all of the Notes then outstanding shall mature and become due and payable.
Mandatory Amortization. Notwithstanding anything contained herein, this Section 3.02 shall not apply to Asset Sales or Net Cash Proceeds therefrom. In the event and on each occasion that any Net Cash Proceeds are received from any Real Estate Asset Sale by or on behalf of the Company, on the next succeeding Interest Payment Date, the Company shall prepay the principal of the Securities in an amount equal to the aggregate amount of such Net Cash Proceeds at a price equal to the then effective optional redemption price thereof, as set forth in Paragraph 5 of the Securities. None of such Net Cash Proceeds shall be applied towards accrued and unpaid interest on the Securities until all of the outstanding principal of the Securities has been paid. In connection with any mandatory amortization pursuant to this Section 3.02, the Company shall deliver to the Trustee a notice stating which portion of the funds delivered to the Trustee on the applicable Interest Payment Date constitutes a current or accrued interest payment and which portion will constitute amortization payments of principal to be made with Net Cash Proceeds pursuant to this Section 3.02. On the first Interest Payment Date after the date hereof, the Company shall prepay the principal of the Securities in an amount equal to $4,980,000, which shall be applied at the then effective optional redemption price thereof, as set forth in Paragraph 5 of the Securities.
