Principal Reductions Sample Clauses

Principal Reductions. Dealership must pay a monthly principal reduction of 10% of the original principal amount (each a “Principal Reduction”) for each Vehicle on Dealership’s floorplan for more than 180 days (regardless of repayment and re-borrowing) until the outstanding principal amount for that Vehicle is reduced to lesser of 50% of the original principal amount or 50% of the clean wholesale value. Principal Reductions may be billed to Dealership and will reduce the amount of the Wholesale Outstandings when paid by Dealership. Any change in the Principal Reductions required by either or both of the Ally Parties will not constitute an amendment to this Agreement.
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Principal Reductions. From time to time, one or both of the Ally Parties may require Dealership to repay a portion of the principal amount as designated by such Ally Party(ies) pertaining to one or more Vehicles for which such Ally Party(ies) provide Inventory Financing (“Principal Reductions”). Principal Reductions will be assessed, ordinarily monthly, based upon:
Principal Reductions. The Dealership must make monthly principal reduction payments in an amount equal to 10% of the original principal amount (i.e., the aggregate advance) (each, a “Principal Reduction”) for each Vehicle on Dealership’s floorplan for more than 180 calendar days. Principal Reductions will be billed to Dealership monthly and, when paid by Dealership, will reduce the amount of the Wholesale Outstandings.
Principal Reductions. The Dealership must make monthly principal reduction payments (each, a "Principal Reduction") in an amount equal to 10% of the original principal amount for each Vehicle on Dealership's floorplan for more than 180 calendar days. Principal Reductions will be billed to Dealership monthly and, when paid by Dealership, will reduce the amount of the Wholesale Outstandings. Principal Reductions under this paragraph are no longer required for a particular Vehicle when the outstanding principal balance for such Vehicle has been reduced to 50% (or less) of the original principal balance.
Principal Reductions. Not applicable.
Principal Reductions. As of the date hereof, Borrower has made no payments to be credited against the amounts due pursuant to §3.2(b) of the Loan Agreement.
Principal Reductions. If Lender approves an Extension Request for a Loan made in connection with a Pre-Sold House, Borrower agrees to make a principal reduction on the Loan of at least the following amounts for the following extension periods:
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Principal Reductions. Subject to the exceptions set forth in PARAGRAPH 6 of this Commitment Letter, 100% of all Revenues, after payment of the Expenses, shall be applied on a monthly basis to reduce the principal balance of the Loan, which shall include all accrued and unpaid interest pursuant to the Loan. All funds so applied shall first be applied to the payment of any outstanding costs, expenses, fees or charges which were required to be paid pursuant to the Loan Documents, then to the payment of all accrued interest and then to the repayment of principal. With the exception of the Borrower's First Priority Return, the term "Expenses" shall not include any amounts payable to or on behalf of the Borrower, Transeastern or the Principals. There shall be no prohibition on the early repayment of amounts outstanding under the Loan and no prepayment penalty shall be charged in connection therewith, provided, however, prepayment in full of amounts outstanding under the Note shall not impair the Borrower's obligations with respect to or the effect of the Contingent Returns or the Loan Documents evidencing and securing the same. In the event of such a prepayment the documents securing the Contingent Returns shall be subordinated to senior financing meeting the requirements to be established in the Loan Documents.
Principal Reductions. Borrower may make periodic payments of -------------------- principal, without penalty, at its election. Such payments to Lender, are hereinafter referred to as Principal Reductions.
Principal Reductions. Principal payments shall be made from time to time as provided in the Loan Agreement being executed on or about the date hereof.
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