Monthly Principal Amortization Sample Clauses

Monthly Principal Amortization. The parties acknowledge that the Borrowing Base will decrease over time due to reduction of the number of and the principal balances under the Qualified MH Loans that secure the Term Loan (including by reason of regular payments collected upon such MH Loans, prepayments of such MH Loans and change in status of a Qualified MH Loan to a Disqualified MH Loan and/or Released Loan). Until the outstanding principal balance of the Term Loan is paid in full, Borrower shall make monthly principal payments under the Term Loan in such amount (the “Requisite Monthly Principal Payment Amount”) equal to the difference between the outstanding principal balance of the Term Loan and the Borrowing Base amount to the extent the outstanding principal balance of the Term Loan exceeds the Borrowing Base amount, in each case as determined as of the 25th day of the preceding calendar month period. In the event the Borrowing Base amount exceeds the outstanding principal balance of the Term Loan as of the 25th day of the preceding calendar month period, no Requisite Monthly Principal Payment Amount shall be due with respect to such monthly period. The Requisite Monthly Principal Payment Amounts shall be due and payable on the tenth (10th ) day of each calendar month; and on the Term Loan Maturity Date or such earlier date as provided herein following acceleration, all remaining unpaid principal under the Term Loan and accrued but unpaid interest under the Term Loan shall be due and payable. Borrower or Pledgor on behalf of Borrower shall maintain adequate records of the collections on the Pledged MH Loans and Lender shall have the right to review such records upon request. No prepayment penalty or premium shall be due or payable in connection with any Requisite Monthly Principal Payment Amounts.
Sample 1
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Monthly Principal Amortization. The outstanding ------------------------------ prinicpal balance of Fleet's claim (which is stipulated by the parties hereto to be $63,079,797.34 in principal amount as of the Petition Date) shall be due and payable to Fleet in monthly installments, the aggregate amount of which during any particular month shall be not less than the amount specified for such month as set forth below: PER MONTH MONTH: INSTALLMENT AMOUNT ------ ------------------ May through July, 1997 $4,000,000 August, 1997 $3,500,000 September, 1997 $3,250,000 October and November, 1997 $3,000,000 December, 1997 $2,750,000 January, 1998 $2,500,000 February, 1998 $2,000,000 March through August, 1998 $3,000,000
Sample 1
Monthly Principal Amortization. The outstanding principal balance ------------------------------ of this Note shall be due and payable in monthly installments on the last day of each calendar month, the amount of which for any particular month being equal to the amount shown below for the month corresponding thereto, except to extent Borrower previously SECURED PROMISSORY NOTE - Page 1 ----------------------- made all or any portion of thereof pursuant to the Final Cash Collateral Order (as such term is defined in the Loan Agreement): AGGREGATE INSTALLMENTS MONTH: ---------------------- ------ PER MONTH: ---------- [June through July, 1997 $4,000,000 August, 1997 $3,500,000 September, 1997 $3,250,000 October and November, 1997 $3,000,000 December, 1997 $2,750,000 January, 1998 $2,500,000 February, 1998 $2,000,000 March through August, 1998 $3,000,000]
Sample 1
Monthly Principal Amortization. The outstanding ------------------------------ principal balance of the Allowed Secured Fleet Claim shall be due and payable from and after the Effective Date to the holder of the Allowed Secured Fleet Claim Fleet in monthly installments, the aggregate amount of which during any particular month shall be not less than the amount specified for such month as set forth below: Per Month Month Installment Agreement ----- --------------------- May through July, 1997 $4,000,000 August, 1997 $3,500,000 September, 1997 $3,250,000 October and November, 1997 $3,000,000 December, 1997 $2,750,000 January, 1998 $2,500,000 February, 1998 $2,000,000 March through August, 1998 $3,000,000 The remaining unpaid balance on the New Fleet Note shall be due and payable on September 1, 1998.
Sample 1

Related to Monthly Principal Amortization

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Negative Amortization To the extent any Mortgage Loan provides for negative amortization, such as a GPM or GPARM Loan, the Servicer must assure that the Unpaid Principal Balance of such Mortgage Loan never exceeds the related Maximum Negative Amortization Amount, and that the related Monthly Payment is recast as provided for in the Mortgage Note such that the balance fully amortizes within the remaining term of such Mortgage Loan.

  • Scheduled Principal Payments The Borrower shall make payments of principal to Holder as follows: (i) on the first anniversary of this Note, the sum of $279,500, which represents 10% of original principal amount of this Note, (ii) on the second anniversary of this Note, the sum of $1,118,000, which represents 40% of original principal amount of this Note, and (iii) on May 18, 2010 (the “Maturity Date”), a final payment of the sum of the outstanding principal balance of this Note, including the amount of any PIK Interest, together with accrued and unpaid interest thereon, and all other obligations and indebtedness owing hereunder, if not sooner paid.

  • Collections Prior to Amortization Prior to the Amortization Date, any Collections and/or Deemed Collections received by the Servicer shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If on any Business Day prior to the Amortization Date, any Collections are received by the Servicer after payment of any Obligations that are then due and owing, Seller hereby requests and the Purchasers hereby agree to make, simultaneously with such receipt, a reinvestment (each, a “Reinvestment”) with that portion of the balance of each and every Collection received by the Servicer that is part of any Purchaser Interest, such that after giving effect to such Reinvestment, the amount of Capital of such Purchaser Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Capital immediately prior to such receipt. On each Settlement Date prior to the occurrence of the Amortization Date, the Servicer shall remit to the Fifth Third Account and the PNC Account each Purchaser’s respective Percentage of the amounts set aside during the preceding Settlement Period that have not been subject to a Reinvestment and apply such amounts (if not previously paid in accordance with Section 2.1) to reduce the Obligations. Once such Obligations shall be reduced to zero, any additional Collections received by the Servicer (i) if applicable, shall be remitted to the Fifth Third Account and the PNC Account no later than 12:00 noon (New York time) to the extent required to fund the Purchasers’ respective Percentages of any Aggregate Reduction on such Settlement Date and (ii) any balance remaining thereafter shall be remitted from the Servicer to Seller on such Settlement Date.

  • Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:

  • Mandatory Principal Payments If, on any day, the Total Outstandings exceed the Maximum Loan Amount, then the Borrower shall make a principal payment to Administrative Agent in the amount of such excess, in immediately available funds within ten (10) Business Days of demand from the Administrative Agent (a “Mandatory Principal Payment”); with such payment being applied to the principal balances due hereunder is such fashion as the Borrower may designate; provided, however, that if during such ten (10) Business Day period, the Borrower delivers to the Administrative Agent Funding Evidence, such ten (10) Business Day period shall be extended for such additional time as the Administrative Agent determines, in its reasonable discretion, to be required by the Borrower to make the Mandatory Principal Payment but in no event shall such period exceed a maximum of sixty (60) days from the date that the Mandatory Principal Payment would otherwise be due hereunder.

  • Excess Spread; Excess Finance Charge Collections The Servicer shall apply, or shall cause the Trustee to apply by written instruction to the Trustee, on each Distribution Date, Excess Spread and Excess Finance Charge Collections allocated to Series 1997-1 with respect to the related Monthly Period, to make the following distributions or deposits in the following order of priority:

  • Aggregate Principal Amount The aggregate principal amount of the Senior Notes that may be authenticated and delivered under this First Supplemental Indenture shall be unlimited; provided that the Obligor complies with the provisions of this First Supplemental Indenture.

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

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