Common use of Minimum Amortization Clause in Contracts

Minimum Amortization. Notwithstanding anything to the contrary in this Agreement, (i) on December 31, 2009, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $2,000,000, (ii) on June 30, 2010, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $3,000,000 and (iii) on December 31, 2010, Borrowers shall pay to Lender a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000. Additionally, notwithstanding anything to the contrary in this Agreement, to the extent that Borrowers have exercised one or both extension options set forth in Section 2.9 hereof in accordance with the terms thereof, (i) on June 30, 2011, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000, (ii) on December 31, 2011, Borrowers shall pay to Lender a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000, (iii) on June 30, 2012, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000, and (iv) on December 31, 2012, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000. Agent and Lenders shall have no obligation to release any Liens on any Collateral in connection with such payments. Each such payment shall immediately result in a corresponding permanent reduction in the Maximum Loan Amount. Upon receipt of payment of any Repayment Amount, insurance proceeds, Condemnation Compensation or mandatory prepayment pursuant to Section 2.3(f) to be credited toward payment of principal of the Loan pursuant to Section 2.3(a)(i) hereof, Agent shall credit the amount actually received to the next scheduled required amortization payment(s) described above. In the event that, as of the end of each such amortization period described above, the Repayment Amount(s), insurance proceeds, Condemnation Compensation and/or mandatory prepayments pursuant to Section 2.3(f) actually collected by Agent through the end of such amortization period is not sufficient to satisfy the amount of principal reduction payable by Borrower to Agent and Lenders through the end of such amortization period, Borrower shall pay to Agent such difference. In the event that, as of the end of each such amortization period, the Repayment Amounts, insurance proceeds, Condemnation Compensation and mandatory prepayments pursuant to Section 2.3(f) collected by Agent during such amortization period are in excess of the amount necessary to satisfy the required principal reduction payments to be made by Borrower through such amortization period, the excess amount of such payments shall be applied to the next succeeding principal payment described above.

Minimum Amortization. Notwithstanding anything to the contrary in this Agreement, (i) on December 31, 2009, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $2,000,000, (ii) on June 30, 2010, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $3,000,000 and (iii) on December 31, 2010, Borrowers shall pay to Lender a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000. Additionally, notwithstanding anything to repay the contrary in this Agreement, Loan to the extent that Borrowers have exercised one or both extension options necessary for Borrower to comply with the required mandatory principal paydowns on the dates and in the cumulative principal amounts set forth in Section 2.9 hereof in accordance with the terms thereof, (i) on June 30, 2011, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000, (ii) on December 31, 2011, Borrowers shall pay to Lender a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000, (iii) on June 30, 2012, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000, and (iv) on December 31, 2012, Borrowers shall pay to Lenders a cash amount (to be applied in accordance with Section 2.3(a)(i) hereof) equal to $5,000,000Schedule 19 attached hereto. Agent and Lenders shall have no obligation to release any Liens on any Collateral in connection with such paymentspayments (other than in connection with a payment in full in cash of the Obligations). Each such payment shall immediately result in a corresponding permanent reduction in the Maximum Loan Amount. Upon receipt of payment of any Repayment Amount, insurance proceeds, Condemnation Compensation or mandatory prepayment pursuant to Section 2.3(f), Section 2.3(g) or Section 2.3(h) to be credited toward payment of principal of the Loan pursuant to Section 2.3(a)(i) hereof or pursuant to Section 2.3(f), Section 2.3(g) or Section 2.3(h) hereof, as applicable, Agent shall credit the amount actually received to the next scheduled required amortization payment(s) described aboveset forth in Schedule 19. In the event that, as of the end of each such amortization period described aboveset forth in Schedule 19, the Repayment Amount(s), insurance proceeds, Condemnation Compensation and/or mandatory prepayments pursuant to Section 2.3(f), Section 2.3(g) and Section 2.3(h) actually collected by Agent through the end of such amortization period is not sufficient to satisfy the amount of principal reduction payable by Borrower to Agent and Lenders through the end of such amortization period, Borrower shall pay to Agent such difference. In the event that, as of the end of each such amortization period, the Repayment Amounts, insurance proceeds, Condemnation Compensation and mandatory prepayments pursuant to Section 2.3(f), Section 2.3(g) and Section 2.3(h) collected by Agent during such amortization period are in excess of the amount necessary to satisfy the required principal reduction payments to be made by Borrower through such amortization period, the excess amount of such payments shall be applied to the next succeeding principal payment described aboverequired pursuant to Schedule 19.” 8. Amendment to Section 2.3(f). Effective as of the Effective Date, Section 2.3(f) of the Loan Agreement is hereby amended and restated in its entirety as follows: