Reduction of Principal. The principal amount of this Demand Note may be modified from time to time, only in accordance with the provisions of the Series 2013-A Supplement.
Reduction of Principal. The principal amount of this Demand Note may be reduced, only in accordance with the provisions of the Series 2009-1 Supplement.
Reduction of Principal. Notwithstanding anything to the contrary contained herein, the Outstanding Amount shall be reduced in connection with and in an amount equal to any Voluntary Prepayment or Mandatory Prepayment of the Loan.
Reduction of Principal. The Principal due hereunder shall automatically be reduced by the amount of Principal that has previously been converted pursuant to Section 2(a) hereof. For purposes of the calculation of interest payable on this Note, such reduction of Principal shall be deemed to have occurred as of the date of such conversion.
Reduction of Principal. The Loan will be reduced, and a new repayment schedule shall be provided to the Borrower as provided in Section 4.01, if less than the full amount of the Loan is disbursed to the Borrower.
Reduction of Principal. The principal amount of this Demand Note may be reduced only in accordance with the provisions of the Series 2005-3 Supplement. Acknowledgment. The Demand Note Issuer hereby acknowledges receipt of [cash/capital contribution] on the date of the issuance of this Demand Note in the principal amount of $[_____].
Reduction of Principal. The principal amount of this Demand Note may be reduced only in accordance with the provisions of the Series 2009-1 Supplement. Governing Law. THIS DEMAND NOTE HAS BEEN DELIVERED IN NEW YORK, NEW YORK AND SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.
Reduction of Principal. Subject to the conditions set forth herein, the balance due under the Note shall automatically be reduced by twenty percent (20%) of the original principal amount of the Loan on the day before the sixth anniversary date and continue to be automatically reduced by twenty percent (20%) of the original amount of the Loan on the day before each succeeding anniversary date of the Note such that on the Maturity Date the outstanding principal balance due will be $0.00. Borrower shall not be entitled to any further reduction of the outstanding principal so long as Borrower is in default under the terms of the Note, this Deed of Trust, or any other instrument evidencing or securing the Loan. According to the terms of the CHAF Program, if Xxxxxxxx was delinquent on any Federal debt (e.g. VA-guaranteed mortgage, Title l loan, Federal student loan, Small Business Administration loan, delinquent Federal taxes, etc.), or State debt (including, but not limited to, delinquent State taxes) or child support payments, or has a lien placed against his or her property for a debt owed to the United States or the State of North Carolina or for a delinquent child support obligation, then Borrower would not be eligible for the Loan until each delinquent account is brought current, paid or otherwise satisfied, or a satisfactory repayment plan is made between Borrower and the agency or entity owed and such repayment plan is verified in writing. Notwithstanding anything herein to the contrary, if Borrower is delinquent in the repayment of any such debt or not in compliance with any such repayment plan on the date the outstanding balance is due under the Note, whether on the Maturity Date or on any accelerated maturity by reason of default or otherwise, then there shall be no reduction of the original principal amount and the full original principal amount shall be due and payable. EXHIBIT A [Insert Property Description here.] EXHIBIT B [Insert any Property Title Exceptions here.]
Reduction of Principal. If, at any time on or before September 1, 2004, the Holder and Royal Vendex KBB N.V. are no longer liable or otherwise obligated under any guaranty with respect to any lease of the Company or Parent (the “Release”), the aggregate outstanding principal amount of this Note shall be reduced by $4,000,000. In the event the Release does not occur on or before September 1, 2004, the aggregate outstanding principal amount of this Note shall not be reduced and shall be otherwise due and payable in accordance with the terms of this Note.
Reduction of Principal. The principal amount of said Note is hereby amended to $100,000.
