Principal Amount and Interest Clause Samples
Principal Amount and Interest. (a) FOR VALUE RECEIVED, Borrower, jointly and severally, promise to pay, in lawful money of the United States, to the order of Lender, at the offices of Lender (or at such other address as Lender may designate to Borrower) the Principal Amount funded by such L▇▇▇▇▇, plus all accrued and unpaid interest, fees, costs and expenses accrued on the Principal Amount. The Principal Amount shall be due and payable in full on June 17, 2027 unless otherwise extended by Lender in its sole discretion.
(b) B▇▇▇▇▇▇▇ further agrees to, commencing as of July 1, 2026, pay interest on the outstanding balance of the Principal Amount at the per annum rate equal to ten percent (10.0%). Interest shall be calculated on the outstanding Principal Amount on a 365 day year based on the actual number of days elapsed, and shall be due and payable on the first day of each calendar month commencing July 1, 2026. If Borrower has insufficient cash to make the scheduled payments of interest, or such interest payments are not made for any reason, such interest or portion thereof, may at Lender’s option and sole discretion be permitted to be paid in kind by Borrower by adding such interest to the Principal Amount. In no event shall the amount of interest paid or agreed to be paid to Lender hereunder exceed the highest lawful rate permissible under any law which a court of competent jurisdiction may deem applicable hereto.
(c) Upon the occurrence and during the continuance of an Event of Default, at L▇▇▇▇▇’s option, interest on the unpaid Principal Amount shall accrue at the rate otherwise applicable thereto plus two percent (2.0%).
(d) Upon any principal payment of the Principal Amount (whether voluntary, upon acceleration, at maturity or before or after the commencement of an insolvency proceeding), Borrower shall pay a prepayment premium of ten 10.0% of the principal amount repaid (such premium referred to as the “Payment Premium”).
(e) The Obligations (as defined herein) outstanding under this Agreement may be prepaid at any time, subject to the payment of Payment Premium. Prepayments of any kind and payments received by Lender shall be applied to the Obligations, first, to the Payment Premium, second, to all accrued and unpaid interest, fees, costs and expenses, including attorneys’ fees, and then to the Principal Amount.
(f) Borrower shall utilize the proceeds of the advances made hereunder to repay the existing credit facility provided by Capital Foundry Funding, LLC.
(g) Within 14 days...
Principal Amount and Interest. (a) Payment of principal, interest, and any other sums due in respect of the Bonds will be made by transfer to the registered account of the relevant Bondholder in Hong Kong dollars. Payment of principal will only be made after surrender of the relevant Certificate at the Specified Office of the Issuer in Hong Kong.
(b) Interest on Bonds due on an Interest Payment Date will be paid on the due date for the payment of such interest to the holder shown on the Register of Bondholders at the close of business on the second Business Day before the due date for the payment of such interest. Payment of interest on each Bond will be made by transfer to the registered account of the relevant Bondholder.
(c) When making payments to Bondholders, fractions of one Hong Kong cent will be rounded down or up (as the case may be) to the nearest Hong Kong cent.
Principal Amount and Interest. The principal amount of the Loan is
Principal Amount and Interest. The principal amount of the Loan is and 00/100 DOLLARS ($ ), bearing zero percent ( %) interest prior to any Event of Default. From and after the occurrence of an Event of Default, the principal amount shall bear interest at the Default Rate. All outstanding principal and accrued interest shall be due and payable by Borrower on , 20 (“Maturity Date”), or any earlier date on which the unpaid principal balance and accrued interest becomes due and payable by acceleration or otherwise.
Principal Amount and Interest. The principal amount (“Principal Amount”) of this Note is __________ Dollars ($_______). This Note shall bear interest on the unpaid Principal Amount at the rate of seven percent (7%) per annum (“Interest”). The entire Principal Amount hereof shall be due and payable on March 31, 2011. The accrued and unpaid Interest shall be paid in semi-annual installments, commencing on June 1, 2006 and continuing thereafter on each June 1st and December 1st until all amounts owing under this Note are paid in full.
Principal Amount and Interest. The Lender promises to loan seven hundred and ninety one thousand five hundred and forty six dollars ($791,546 USD) to the borrower and the borrower promises to repay this principal amount to the Lender with interest payable on the unpaid principal at the flat rate of six percent (6%) beginning on August 29, 2024.
Principal Amount and Interest. At the Effective Time, the principal amount of the Note shall be increased from $4,000,000.00 to $4,200,000.00. The unpaid principal amount of the Note (as amended by this Amendment) shall bear interest from and after the date of the Effective Time at the rate of 8.0% per annum.
Principal Amount and Interest. FOR VALUE RECEIVED, the undersigned Fortress International Group, Inc., a Delaware corporation (“Maker”), promises to pay to the order of ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, his successors and assigns (“Holder”), at ▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Severna Park, Maryland 21146, or at such other place as Holder may from time to time designate in writing, the principal sum of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000), together with interest thereon from March 1, 2010 at the rate of four percent (4%) per annum, compounded annually (“Base Interest Rate”). Upon the occurrence and during the continuance of an “Event of Default” (as defined herein), the principal indebtedness evidenced by this Note shall bear interest at a rate of seven percent (7%) per annum (the “Default Interest Rate”). At such time as an Event of Default is cured, the Base Interest Rate, and not the Default Interest Rate, shall apply.
(a) Interest shall be calculated on the basis of a 365 days per year factor applied to the actual days on which there exists an unpaid principal balance. Interest shall be payable monthly, on the first day of each calendar month, until this Note is paid in full (with the first payment of interest due on April 1, 2010). In addition to the monthly interest payments set forth in this subsection (a), Maker shall pay certain amounts of the interest accrued under this Note as of March 1, 2010 (the “Accrued Interest”) as follows: (i) Two Hundred Thousand Dollars ($200,000) of the Accrued Interest shall be paid by Maker on or before March 1, 2010; (ii) Forty Thousand Dollars ($40,000) of the Accrued Interest shall be paid by Maker on or before December 1, 2010; and (iii) Forty Thousand Dollars ($40,000) of the Accrued Interest shall be paid by Maker on or before January 1, 2011. The remaining amount of Accrued Interest as of January 1, 2011 in the amount of Eighty-Two Thousand Three Hundred One Dollars ($82,301) shall be added to the principal balance due under this Note as of such date and shall be treated as principal for all purposes under this Note thereafter.
(b) No amounts of principal shall be payable under this Note until April 1, 2012 (the “Initial Principal Payment Date”). Beginning on the Initial Principal Payment Date (with the first payment due on such date), the principal amount due under this Note shall be payable by Maker in eight (8) equal quarterly installments of One Hundred Twenty-Five Thousand Dollars ($125,000) each. Each quarterly installment will be due on t...