Terms of CAW Loans Sample Clauses

Terms of CAW Loans. From the date such CAW Loan is made until the first day of the first month after the Acceptance Date, MCWD and/or MCWRA (as applicable) shall pay interest monthly on the unpaid principal amount of each CAW Loan made to it at a fixed rate per annum (computed on the basis of a 360-day year of twelve 30-day months) equal to the 10 year U.S. Treasury rate plus 600 basis points Commencing with the first day of the first month after the Acceptance Date, each CAW Loan shall be repaid by amortization payments based on the above-described CAW Loan interest rate. The term for repayment of each CAW Loan shall be the shorter of either (a) a term which, based on the above-described CAW Loan interest rate, will not result in an increase (considering all outstanding CAW Loans, if any) in the annual cost of the Product Water by more than ten percent (10%) prior to adding such amortization to the cost of the Product Water or (b) the shorter of ten (10) years or the remainder of the Term. No principal payments under the CAW Loan will be due until after the Acceptance Date. After the Acceptance Date, interest and principal of the CAW Loans and shall be payable on the terms set forth herein from the proceeds of the Product Water Contract Payments. The portion of the Product Water Contract Payments to be utilized to repay the CAW Loans shall be separately identified and accounted for under the Escrow Account Agreement.
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Related to Terms of CAW Loans

  • TYPES OF CONTRACT MODIFICATIONS In order to expedite processing of a contract modification, where proposed changes involve more than one category below, each change should be submitted to OGS as a separate request.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.

  • Borrowings The obligation of any Bank to make a Loan on the occasion of any Borrowing is subject to the satisfaction of the following conditions:

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Revolving Loans The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of all Revolving Loans outstanding on such date.

  • Deposits of Loan Amounts Except as the Bank may otherwise agree:

  • Credit Terms Notwithstanding Section 3.2, above, Station may grant credit terms to Advertiser, subject to Station’s completion of a satisfactory credit check. If Station has granted Advertiser credit terms, payment is due within thirty (30) days of invoice date. Notwithstanding the foregoing, Station reserves the right to revoke Advertiser’s credit in the event Station reasonably determines that Advertiser is no longer creditworthy. In such an instance, Station may require payments for future Orders or Campaigns to be on a cash-in-advance basis (and, in such an event, such payments must be made no later than five (5) business days prior to the Campaign start date in accordance with Section 3.2, above).

  • Loans The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form annexed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 or the consummation of the Offering.

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