Payment Dates and Amounts Sample Clauses

Payment Dates and Amounts. The payment required on each Loan shall be payable in arrears on each month for such Loan by the 28th of the month and on the Maturity Date. With respect to any Land Loan, the payment required shall be interest only. With respect to any Pledged Note Loan, the payment required shall be principal and interest and calculated using an amortization schedule that matches the remaining term of the relevant Collateral being pledged to secure such Pledged Note Loan.
Sample 1Sample 2
AutoNDA by SimpleDocs
Payment Dates and Amounts. As set forth in greater detail in the Note, Borrower shall repay the HOME Loan, together with accrued interest at the Basic Rate in arrears, in annual installments on the 15th day of March of each calendar year for the previous fiscal year, commencing on March 15, 2009. Absent prepayment or acceleration, each of the annual payments due March 15, 2010 through and including March 15, 2064 (“Maturity Date”) shall be in an amount equal to eleven and three tenths percent (11.3%) of “Residual Receipts” (as defined in the Note) for the prior calendar year. The Housing Authority of the County of Los Angeles (“HACOLA”) will be entitled to receive nine and twenty-five hundredths (9.25%) of Residual Receipts as repayment for the Industry permanent loan it is providing to the Project. The California Department of Housing and Community Development will receive twenty-seven and nine tenths percent (27.9%) of residual receipts for the Multifamily Housing Program (“MHP”) loan that it is providing to the project, and the AHP program will be entitled to receive one and fifty-five hundredths percent (1.55%) of Residual Receipts as repayment for the permanent loan that it is providing. Finally, the Borrower will be entitled to receive fifty percent (50%) of Residual Receipts. Residual Receipts shall be calculated and reported to Commission annually for each fiscal year no later than March 15th of the following calendar year on forms specified and provided by Commission from time to time. All calculations and records are subject to audit by Commission. Notwithstanding any other provision of the Note or this Agreement, unless due sooner, the entire outstanding principal balance of the HOME Loan together with any outstanding interest and any other sums payable under the Note shall be due and payable in full on the Maturity Date. The term of this Agreement (the “Term”) shall be from the date of this Agreement through and including the Maturity Date; provided, however, that the use restrictions in Section 10 and the nondiscrimination covenants in Section 11 shall extend beyond the Term as provided in those sections.
Sample 1
Payment Dates and Amounts. As set forth in greater detail in the Note, Borrower shall repay the HOME Loan, together with accrued interest at the Basic Rate in arrears, in annual installments on the 15th day of March of each calendar year for the previous fiscal year, commencing on March 15, 2012. Absent prepayment or acceleration, each of the annual payments due March 15, 2012 through and including March 15, 2067 (“Maturity Date”), which shall in no event be earlier than the maturity date of the HUD Capital Advance, shall be in an amount equal to fifty percent (50%) of “
Sample 1
Payment Dates and Amounts. Subject to approval by HUD in accordance with the HUD Commitment Letter (as defined below), the schedule for repaying the Loan shall be as set forth in this Section 2.3. Absent any default or acceleration, Borrower shall initially make quarterly payments to COUNTY of interest only, payable at least eleven working days in advance of the first day of each calendar quarter. From and after the Conversion Date, Borrower shall make semi-annual payments of principal and interest in an amount necessary to amortize the Loan in 20 years as reasonably calculated by the COUNTY. The timing of the semi-annual payments shall be at least eleven (11) working days in advance of each August 1 and February 1 or as reasonably determined by the COUNTY based on coordination with the timing of debt service payments by COUNTY under the HUD Note. Notwithstanding any other provision of the Note or of this Agreement, unless due sooner, the entire outstanding principal balance of the Loan together with any outstanding interest and any other sums payable under the Note shall be due and payable in full on the 20th anniversary of the date of the Close of Escrow for the Loan ("Maturity Date"). Any of the foregoing or other payment terms of the Note are subject to modification by the COUNTY as necessary to meet payment terms under the COUNTY loan from HUD (“HUD Loan”) that is the COUNTY’s source of funds for the Loan.
Sample 1
Payment Dates and Amounts. Commencing on or before the last business day of the first calendar month that starts 45 days after the Funding Date and continuing on or before the last business day of each calendar month thereafter through the earlier of the (i) the Maturity Date; or (ii) receipt by the Holders of payments equal to their Investment Multiple, the Issuer shall remit the Revenue Sharing Payment based on the applicable Reporting Period and calculated pursuant to the following terms: Investment Multiple 1.8X Revenue Sharing Percentage Principal Amount outstanding on the Note(s) Applicable Revenue Sharing Percentage: $100,000 - $250,000 1.00% $250,001 - $500,000 1.50% $500,001 - $1,000,000 2.00% Maturity Date 60 months from the Funding Date Prepayment Penalty None Security Blanket lien on assets of company Personal Guaranty None
Sample 1
Payment Dates and Amounts. The Borrower shall submit in good faith an application to the California Tax Credit Allocation Committee (“TCAC”), or state agency that shall administer the Low Income Housing Tax Credit Program (“Tax Credits”), for an allocation of Federal and/or State Tax Credits. The Commission and Borrower acknowledge that if an allocation of Tax Credits is granted to the Borrower, the Tax Credits shall be syndicated to the limited partnership investors to raise equity proceeds for the Project in an amount estimated to be in the minimum amount of TWO MILLION THREE HUNDRED TWENTY SEVEN THOUSAND TWO HUNDRED ONE DOLLARS ($2,327,201) (“Equity Proceeds”). In the event that Tax Credits obtained for the Project exceed the specified amount, upon receipt of the equity payments from the syndication of the Tax Credits, the Borrower shall apply the proceeds of the equity payments from the syndication of Tax Credits in the following order of priority: 1) to pay for the project’s construction costs as described in Exhibit M, and 2) to the Commission as repayment on the outstanding balance of the HOME Loan, including accrued interest, as described in Exhibit M. If any proceeds received from the syndication of the Tax Credits exceed the estimated minimum amount of $2,327,201; or the proceeds received from the tax-exempt permanent loan of $2,500,000 exceed the uses in the Proforma attached as Exhibit M, the excess amount shall be applied to pay down any outstanding balance, including accrued interest, on the HOME Loan. The Borrower will also use any excess HOME loan proceeds that result from lower construction costs than originally stated in the Proforma, attached as Exhibit M for the subject development, to pay down the HOME Loan, to be determined at the discretion of the Community Development Commission of the County of Los Angeles (the “Lender”) at the time of the paydown. The prorata share of excess proceeds that Borrower shall repay Lender is 50%. Except as otherwise provided in this Agreement and the HOME Note, Borrower shall repay the HOME Loan with accrued interest in arrears in annual installments on March 15th of each calendar year for the previous calendar year, commencing on March 15, 2005. Absent prepayment or acceleration, each of the annual payments due March 15, 2005 through and including March 15, 2035 (“HOME Maturity Date”) shall be made out of Residual Receipts (as defined in the HOME Note) from the immediately preceding calendar year. The amount of each such annual ...
Sample 1
Payment Dates and Amounts. As set forth in greater detail in the Note, Borrower shall repay the HOME Loan, together with accrued interest at the Basic Rate in arrears, in annual installments on the 15th day of March of each calendar year for the previous fiscal year, commencing on March 15, 2008. Absent prepayment or acceleration, each of the annual payments due March 15, 2008 through and including March 15, 2062 (“Maturity Date”) shall be in an amount equal to fifty percent (50%) of “Residual Receipts” (as defined in the Note) for the prior calendar year. Residual Receipts shall be calculated and reported to Commission annually for each fiscal year no later than March 15th of the following calendar year on forms specified and provided by Commission from time to time. All calculations and records are subject to audit by Commission. Notwithstanding any other provision of the Note or this Agreement, unless due sooner, the entire outstanding principal balance of the HOME Loan together with any outstanding interest and any other sums payable under the Note shall be due and payable in full on the Maturity Date. The term of this Agreement (the “Term”) shall be from the date of this Agreement through and including the Maturity Date; provided, however, that the use restrictions in Section 10 and the nondiscrimination covenants in Section 11 shall extend beyond the Term as provided in those sections.
Sample 1
AutoNDA by SimpleDocs
Payment Dates and Amounts. Except as otherwise provided in this Note, Borrower shall repay the Loan, together with accrued interest at the Basic Rate in arrears, in annual installments on March 15th of each calendar year for the previous calendar year, commencing on March 15, 2008. Absent prepayment or acceleration, each of the annual payments due March 15, 2008 through and including March 15, 2063 (“Maturity Date”) shall be in an amount equal to fifty percent (50%) of “Residual Receipts” for the prior calendar year, as defined herein. Residual Receipts shall be calculated and reported to the Commission annually for each calendar year no later than March 15th of the following calendar year on forms specified and provided by the Commission from time to time. All calculations and records are subject to audit by the Commission. Notwithstanding any other provision of this Note, unless due sooner, the entire outstanding principal balance of the Loan together with any outstanding interest and any other sums payable under this Note shall be due and payable in full on the Maturity Date.
Sample 1

Related to Payment Dates and Amounts

  • Interest Rates and Payment Dates (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin.

  • Payment Dates Interest accrued on each Loan shall be payable, without duplication:

  • Payment Amounts The aggregate Payments to be made in any fiscal year shall not exceed an amount that is equal to the corresponding Appropriated Amount. (For example, for the Payments due on December 1, 2022 and on June 1, 2023, the aggregate maximum amount of such Payments would be determined by the Appropriated Amount determined for certification by December 1, 2021.) Furthermore, the amount of each such Payment shall not exceed the amount of Incremental Property Tax Revenues (excluding allocations of “back-fill” or “make-up” (payments from the State of Iowa for property tax credits or roll-back) actually received by the City from the Dubuque County Treasurer attributable to the taxable incremental valuation of the Property in the six (6) months immediately preceding the extant Payment due date.

  • Interest Rates Payments and Calculations (a) Interest Rate. -------------

  • Repayment Dates The first Instalment shall be repaid on the date falling three months after the Drawdown Date, each subsequent Instalment shall be repaid at three-monthly intervals thereafter and the last Instalment, shall be repaid together with the Balloon Instalment, on the Final Repayment Date.

  • Payment Due Dates Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or facility fee, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of LIBO Rate Advances or Floating Rate Bid Advances to be made in the next following calendar month, such payment shall be made on the immediately preceding Business Day.

  • Calculation Dates The interest rate applicable to each Interest Reset Period will be determined by the Calculation Agent on or prior to the Calculation Date (as defined below), except with respect to LIBOR, which will be determined on the particular Interest Determination Date. Upon request of the Holder of a Floating Rate Note, the Calculation Agent will disclose the interest rate then in effect and, if determined, the interest rate that will become effective as a result of a determination made for the next succeeding Interest Reset Date with respect to such Floating Rate Note. The “Calculation Date”, if applicable, pertaining to any Interest Determination Date will be the earlier of: (1) the tenth calendar day after the particular Interest Determination Date or, if such day is not a Business Day, the next succeeding Business Day; or (2) the Business Day immediately preceding the applicable Interest Payment Date or the Maturity Date, as the case may be.

  • Rates and Payments Room and board fees are approved by the Board of Trustees during the spring semester for the following academic year; however, the University reserves the right to make adjustments as deemed necessary and appropriate in the sole discretion of the Vice President for Student Affairs or designee, at any time during the term of this agreement in accordance with Section 11.

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Payment Date An amount calculated as being due in respect of any Early Termination Date under Section 6(e) will be payable on the day that notice of the amount payable is effective (in the case of an Early Termination Date which is designated or occurs as a result of an Event of Default) and on the day which is two Local Business Days after the day on which notice of the amount payable is effective (in the case of an Early Termination Date which is designated as a result of a Termination Event). Such amount will be paid together with (to the extent permitted under applicable law) interest thereon (before as well as after judgment) in the Termination Currency, from (and including) the relevant Early Termination Date to (but excluding) the date such amount is paid, at the Applicable Rate. Such interest will be calculated on the basis of daily compounding and the actual number of days elapsed.

Time is Money Join Law Insider Premium to draft better contracts faster.