Quarterly Principal Payments Sample Clauses

Quarterly Principal Payments. Section 1.12 of the Credit Agreement is hereby amended and restated in its entirety as follows:
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Quarterly Principal Payments. Beginning May 1, 2010, Borrower shall pay Lender the applicable Quarterly Principal Payment, which such amount shall be due and payable quarterly in advance on the first business day of each three-month quarter beginning on May 1, 2010, which such amount shall be credited towards the principal balance outstanding under the Loan; provided, however, that the parties hereby agree that the Quarterly Principal Payment otherwise due and payable on May 3, 2010 shall be paid to Lender on the Effective Date. The “Quarterly Principal Payment” shall be an amount equal to:
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Quarterly Principal Payments. At the end of each successive calendar quarter commencing on the earlier of (i) the end of the calendar quarter following the date the Bankruptcy Court enters a final order confirming the Chapter 11 plans of reorganization of Borrower and Guarantors (each a “Chapter 11 Plan” and collectively the “Chapter 11 Plans”), each of which complies with Section 5 of this Amendment, or (ii) the calendar quarter ending June 30, 2012 (such earlier date referred to herein as the “Quarterly Principal Payment Commencement Date”), Borrower shall pay to Lender equal quarterly principal reduction payments in the amount of One Million One Hundred Twenty-Four Thousand Eight Hundred Ninety-Four Dollars ($1,124,894), to be applied by Lender when received as a permanent reduction to the principal outstanding under the Note. Borrower’s failure to pay this amount by the end of each calendar quarter on and after the Quarterly Principal Commencement Date shall constitute an Event of Default under the Agreement, the Note, the Security Documents and other Loan Documents.
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Quarterly Principal Payments. Beginning on the eighteen (18) month anniversary of the Issue Date, the Company shall make quarterly payments of principal (each, a “Principal Payment”), as follows: (A) during the period beginning on such eighteen month anniversary and ending on the last day of the third year following the Issue Date, the Company shall pay to the Holder each quarter an amount equal to 1/4 of the original principal amount of this Debenture times .25, and (B) during the fourth year following the Issue Date, the Company shall pay to the Holder each quarter an amount equal to 1/4 of the original principal amount of this Debenture times .50, until the outstanding principal balance of this Debenture has been paid in full. The Company shall make Principal Payments on the first Business Day of each calendar quarter commencing with the partial quarter beginning on August 1, 2006 (with the Principal Payment payable on such date to be in an amount equal to two-third (2/3) of the amount calculated pursuant to clause (c)(A) above) and thereafter on each October 1, January 1, April 1 and July 1 or, if any such date is not a Business Day, on the next succeeding Business Day (each such Business Day, a “Principal Payment Date”). Conversions of principal effected during a calendar quarter shall not affect the amount of any Principal Payment otherwise payable hereunder.
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Quarterly Principal Payments. In addition to the principal payments required pursuant to Section 2.2(a), Borrower shall make quarterly principal payments in accordance with the following table: PAYMENT DATE PRINCIPAL AMOUNT ----------------------------------------------- ---------------- Later of Effective Date or September 30, 1996 $ 100,000 December 31, 1996 $ 100,000 March 31, 1997 $ 100,000 June 30, 1997 $ 100,000 September 30, 1997 $ 350,000 December 31, 1997 $ 350,000 March 31, 1998 $ 350,000 June 30, 1998 $ 350,000 September 30, 1998 $ 750,000 December 31, 1998 $ 750,000 March 31, 1999 $1,000,000 June 30, 1999 $1,000,000 September 30, 1999 $1,250,000 December 31, 1999 $1,250,000 March 31, 2000 $1,250,000 June 30, 2000 $1,500,000 September 30, 2000 $1,500,000 December 31, 2000 $1,750,000 PAYMENT DATE PRINCIPAL AMOUNT ----------------------------------------------- ---------------- March 31, 2001 $1,750,000 June 30, 2001 $1,750,000 September 30, 2001 $1,750,000 December 31, 2001 $1,750,000 March 31, 2002 $2,000,000 June 30, 2002 $2,000,000
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Related to Quarterly Principal Payments

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Optional Principal Payments 11 2.8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Earn-Out Payments (i) If, during the period beginning immediately after the Closing and ending on the six (6) month anniversary of the Closing Date (the “Earn-Out Period”), Buyer enters into an Earn-Out Agreement, Buyer shall pay earn-out amounts to Seller equal to one times (1.00x) the recurring revenues billed and collected by Buyer (excluding any revenues associated with or collected by Buyer for or on behalf of a third party, including in connection with any partnership arrangement set forth in the Earn-Out Agreement), in respect of the Earn-Out Agreement for the initial twelve (12) months following the first recurring revenue for such agreement being billed (such amount, the “Earn-Out Amount,” and, such period, the “Determination Period”), provided however, that in no event will the Determination Period extend past 15 months of execution of the Earn-Out Agreement. Buyer shall use good faith commercially reasonable efforts to minimize the period of time between the execution of the Earn-Out Agreement and the date on which the first recurring revenue thereunder is billed. For the avoidance of doubt, if the first recurring revenue for the Earn-Out Agreement is billed six months after the execution of the Earn-Out Agreement, Buyer shall only be entitled to the Earn-Out Amounts for nine months after recurring revenue is first billed. Notwithstanding the foregoing, Earn-Out Amounts will include recurring revenues billed within the Determination Period and collected within the period after being invoiced set forth in the Earn-Out Agreement; and Buyer shall use good faith commercial efforts to collect such recurring revenues with such period. The Earn-Out Amount will not take into account any amendment to the Earn-Out Agreement that increases recurring revenues if such amendment is entered into after the Earn-Out Period and such amendment represents an increase in scope (in terms of number of buildings and/or additional services) from the Xxxxxx Xxx RFP.

  • Determination of Monthly Principal The amount of monthly principal to be transferred from the Principal Account with respect to the Notes on each Transfer Date (the “Monthly Principal”), beginning with the Transfer Date in the month following the month in which the Controlled Accumulation Period or, if earlier, the Early Amortization Period, begins, shall be equal to the least of (i) the Available Principal Collections on deposit in the Principal Account with respect to such Transfer Date, (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, (iii) the Collateral Amount (after taking into account any adjustments to be made on such Distribution Date pursuant to Sections 4.5 and 4.6) prior to any deposit into the Principal Accumulation Account on such Transfer Date, and (iv) the Note Principal Balance, minus any amount already on deposit in the Principal Accumulation Account on such Transfer Date.

  • Distributions Payable in Cash; Redemption Payments In the event that the Board of the Investment Company shall declare a distribution payable in cash, the Investment Company shall deliver to FTIS written notice of such declaration signed on behalf of the Investment Company by an officer thereof, upon which FTIS shall be entitled to rely for all purposes, certifying (i) the amount per share to be distributed, (ii) the record and payment dates for the distribution, and (iii) that all appropriate action has been taken to effect such distribution. Once the amount and validity of any dividend or redemption payments to shareholders have been determined, the Investment Company shall transfer the payment amounts from the Investment Company's accounts to an account or accounts held in the name of FTIS, as paying agent for the shareholders, in accordance with any applicable laws or regulations, and FTIS shall promptly cause payments to be made to the shareholders.

  • Principal Payments on the Notes On each Payment Date prior to the Maturity Date or the Early Redemption Date, Xxxxxxx Mac (or its agent, the Global Agent) will pay principal on each Class of Original Notes (in each case without regard to any exchanges of Exchangeable Notes for MAC Notes) in reduction of its Class Principal Balance in an amount equal to the portion of the Senior Reduction Amount and/or Subordinate Reduction Amount, as applicable, allocated to reduce the Class Notional Amount of the Corresponding Class of Reference Tranche on such Payment Date pursuant to Sections 3.03 (d) and (e) above. If on the Maturity Date or any Payment Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Xxxxxxx Mac on Exchangeable Notes that were exchanged for such MAC Notes (or any MAC Notes further exchanged for such MAC Notes pursuant to Combination 2, 3, 4 or 5) will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination. The Interest Only MAC Notes are not entitled to receive payments of principal.

  • Interest Accrual Each Class of Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Class A-1 and Class A-2b Notes will be calculated for each Interest Period on the basis of the actual number of days in the Interest Period and a 360-day year. Interest on the Notes (other than the Class A-1 and Class A-2b Notes) for each Interest Period will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

  • Alternative to Interest Amount The provisions of Paragraph 6(d)(ii) will apply.

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