REQUIRED PRINCIPAL PREPAYMENTS Sample Clauses

REQUIRED PRINCIPAL PREPAYMENTS. 2 Section 2.2.
Sample 1Sample 2
AutoNDA by SimpleDocs
REQUIRED PRINCIPAL PREPAYMENTS. The Company agrees that it will prepay and apply, and there shall become due and payable $2,500,000 principal amount on October 1 in each year beginning October 1, 2000 up to and including October 1, 2010 (each such payment and the payment on October 1, 2011 being hereinafter referred to collectively as the "PRINCIPAL PAYMENT DATES") in respect of the aggregate principal indebtedness evidenced by the Notes. The remaining unpaid principal amount of the Notes and accrued and unpaid interest thereon shall be due and payable on October 1, 2011. No premium shall be payable in connection with any required prepayment made pursuant to this Section 2.1. In the event of any repurchase of less than all of the outstanding Notes pursuant to Section 6.13, each scheduled prepayment pursuant to the provisions of this Section 2.1 coming due concurrently therewith or thereafter shall be reduced to the amount determined by dividing the aggregate principal amount of Notes outstanding immediately after any such repurchase pursuant to said Section 6.13 by the sum of the number of the remaining Principal Payment Dates, including, if on a Principal Payment Date, the date of such purchase.
Sample 1Sample 2
REQUIRED PRINCIPAL PREPAYMENTS. The Company agrees that it will prepay and apply, and there shall become due and payable an amount equal to the amounts set forth hereinbelow on March 17 in each year beginning March 17, 1997 up to and including March 17, 2007 in respect of the aggregate principal indebtedness evidenced by the Notes. The remaining unpaid principal amount of the Notes and accrued and unpaid interest thereon shall be due and payable on March 17, 2008. PRINCIPAL PRINCIPAL PAYMENT DATE AMOUNT March 17, 1997 $2,000,000 March 17, 1998 $2,000,000 March 17, 1999 $0 March 17, 2000 $2,000,000 March 17, 2001 $2,000,000 March 17, 2002 $2,000,000 March 17, 2003 $2,000,000 March 17, 2004 $3,000,000 March 17, 2005 $3,000,000 March 17, 2006 $3,000,000 March 17, 2007 $2,000,000 No premium shall be payable in connection with any required prepayment made pursuant to this SECTION 2.1. Upon any repurchase of less than all of the outstanding Notes pursuant to SECTION 2.6, SECTION 2.7 OR SECTION 6.13, the principal amount of each required principal prepayment of the Notes becoming due under this SECTION 2.1 on and after the date of such prepayment or purchase shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes is reduced as a result of such repurchase.
Sample 1
REQUIRED PRINCIPAL PREPAYMENTS. In addition to paying the entire outstanding principal amount and the interest due on the Notes on the maturity date thereof, on December 20, 2008, and June 20, 2009, and on each December 20 and June 20 thereafter to and including June 20, 2012, the Company will prepay, $3,333,333 (or such lesser amount as shall then be outstanding) in principal amount of the Notes, without penalty or any requirement to pay any Make-Whole Amount with respect thereto. Each such prepayment shall be at 100% of the principal amount prepaid, together with interest accrued thereon to the date of prepayment; provided that, upon any partial prepayment of the Notes pursuant to Section 8.2 or Section 8.6, the principal amount of each required prepayment of the Notes becoming due and payable under this Section 8.1 on and after the date of such prepayment or purchase shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes is reduced as a result of such prepayment or purchase.
Sample 1
REQUIRED PRINCIPAL PREPAYMENTS. The Company agrees that it will prepay and apply, and there shall become due and payable an amount equal to the amounts set forth hereinbelow on March 22 in each year beginning March 22, 1997 up to and including March 22, 2001 in respect of the aggregate principal indebtedness evidenced by the Notes. The remaining unpaid principal amount of the Notes and accrued and unpaid interest thereon shall be due and payable on March 22, 2002. PRINCIPAL PRINCIPAL PAYMENT DATE AMOUNT March 22, 1997 $1,972,300 March 22, 1998 $2,472,300 March 22, 1999 $ 0 March 22, 2000 $2,472,200 March 22, 2001 $2,472,200
Sample 1
REQUIRED PRINCIPAL PREPAYMENTS. The Company agrees that it will prepay and apply, and there shall become due and payable an amount equal to the amounts set forth hereinbelow on October 1 in each year beginning October 1, 2000 up to and including October 1, 2005 (each such payment and the payment on October 1, 2006 being hereinafter referred to collectively as the "PRINCIPAL PAYMENT DATES") in respect of the aggregate principal indebtedness evidenced by the Notes. The remaining unpaid principal amount of the Notes and accrued and unpaid interest thereon shall be due and payable on October 1, 2006. PRINCIPAL PRINCIPAL PAYMENT DATE AMOUNT October 1, 2000 $2,500,000 October 1, 2001 $4,000,000 October 1, 2002 $4,500,000 October 1, 2003 $4,500,000 October 1, 2004 $4,500,000 October 1, 2005 $5,000,000
Sample 1
REQUIRED PRINCIPAL PREPAYMENTS. The Company agrees that it will prepay and apply, and there shall become due and payable an amount equal to $750,000 on October 1 in each year beginning September 30, 1997 up to and including September 30, 2003 in respect of the aggregate principal indebtedness evidenced by the Notes. The remaining unpaid principal amount of the Notes and accrued and unpaid interest thereon shall be due and payable on September 30, 2004.
Sample 1
AutoNDA by SimpleDocs
REQUIRED PRINCIPAL PREPAYMENTS. If at the time any Required Principal Prepayment or the payment of principal due at maturity with respect to the Notes is required to be made pursuant to Section 4.1 hereof, there is more than one Note outstanding, the aggregate principal amount of each such Required Principal Prepayment or such payment due at maturity (as the case may be) shall be allocated among the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts of the Notes then outstanding, with adjustments, to the extent practicable, to equalize for any prior prepayments not in such proportion.
Sample 1

Related to REQUIRED PRINCIPAL PREPAYMENTS

  • Required Prepayments On August 1, 2002, and on each August 1 thereafter to and including August 1, 2010, the Company will prepay $5,000,000 principal amount (or such lesser principal amount as shall then be outstanding) of the Notes at par and without payment of the Make-Whole Amount or any premium, provided that upon any partial prepayment of the Notes pursuant to Sections 8.2 or 10.2 or purchase of the Notes permitted by Section 8.5, the principal amount of each required prepayment of the Notes becoming due under this Section 8.1 on and after the date of such prepayment or purchase shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes is reduced as a result of such prepayment or purchase.

  • Scheduled Principal Payments The Borrower shall make payments of principal to Holder as follows: (i) on the first anniversary of this Note, the sum of $279,500, which represents 10% of original principal amount of this Note, (ii) on the second anniversary of this Note, the sum of $1,118,000, which represents 40% of original principal amount of this Note, and (iii) on May 18, 2010 (the “Maturity Date”), a final payment of the sum of the outstanding principal balance of this Note, including the amount of any PIK Interest, together with accrued and unpaid interest thereon, and all other obligations and indebtedness owing hereunder, if not sooner paid.

  • Permitted Prepayment Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances, provided Borrower (i) delivers written notice to Bank of its election to prepay the Term Loan Advances at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (B) the Final Payment, (C) the Prepayment Fee, and (D) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

  • Optional Prepayments with Make-Whole Amount (a) The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, any Series of the Notes, in an amount not less than 10% of the aggregate principal amount of such Series of the Notes then outstanding (but if in the case of a partial prepayment, then against each tranche within such Series of Notes in proportion to the aggregate principal amount outstanding of each tranche of such Series), at 100% of the principal amount so prepaid, together with interest accrued thereon to the date of such prepayment, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount. The Company will give each holder of the Series of Notes to be prepaid written notice of each optional prepayment under this Section 8.2 not less than 10 days and not more than 60 days prior to the date fixed for such prepayment. Each such notice shall specify such date, the aggregate principal amount of the Series of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of the Series of Notes to be prepaid a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

  • 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

  • Permitted Prepayment of Loans Borrowers shall have the option to prepay all, but not less than all, of the Loans, provided Borrowers provide written notice to Administrative Agent of its election to prepay the Loans at least thirty (30) days prior to such prepayment, and pay, on the date of such prepayment, to Lenders, ratably, an amount equal to the sum of:

  • Prepayment Prepayment of the Notes to be prepaid pursuant to this Section 8.7 shall be at 100% of the principal amount of such Notes, together with accrued and unpaid interest on such Notes accrued to the date of prepayment but without any Make-Whole Amount. The prepayment shall be made on the Change in Control Proposed Prepayment Date, except as provided by Section 8.7(f).

  • Payment Prepayment All payments shall be made in lawful money of the United States of America at such place as the Holder hereof may from time to time designate in writing to the Company. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal. Prepayment of this Note may be made at any time without penalty.

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Securing Repayment In order to secure repayment of the Fund’s obligations to the Custodian, the Fund hereby agrees that the Custodian shall have, to the maximum extent permitted by law, a continuing lien and security interest in, and right of setoff against: (a) all of the Fund’s right, title and interest in and to all Accounts in the Fund’s name and the Securities, money and other property now or hereafter held in such Accounts (including proceeds thereof) and (b) any other property at any time held by the Custodian for the Fund. In the event the Custodian has such a legally permissible continuing lien and security interest, the Custodian shall be entitled to collect from the Accounts sufficient cash for reimbursement, and if such cash is insufficient, to sell the Securities in the Accounts to the extent necessary to obtain reimbursement (but only to the extent permitted by the 1940 Act). In this regard, the Custodian shall be entitled to all the rights and remedies of a pledgee and secured creditor of a registered investment company under applicable laws, rules or regulations as then in effect.

Time is Money Join Law Insider Premium to draft better contracts faster.