Re-amortization Clause Samples
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Re-amortization. Prepayments, whether voluntary of mandatory, shall be applied in inverse order of maturity except that cumulative or individual prepayments, whether voluntary or mandatory, that total $20,000,000 or more since the most recent re-amortization of the Loan, at the Borrower's request, may be applied on a pro rata basis to reduce principal payments scheduled for February 28, 2011 and for each quarter thereafter.
Re-amortization. Upon either voluntary or mandatory prepayment, the remaining principal due on the SIB Loan will be re-amortized over the term of the SIB Loan and Exhibit D will be revised by the Department to reflect the remaining Principal Payments and the revised Interest Payments due, and such revised Exhibit D shall be submitted to the Borrower to be attached to and become an integral part of this Agreement.