Additional Principal Payment definition
Examples of Additional Principal Payment in a sentence
In connection with each Release Price Disposition, the Issuer shall, as an Additional Principal Payment Amount, prepay the Notes in an amount equal to the applicable Release Price for the related Fiber Network Assets pursuant to clause (v) of the Priority of Payments.
In addition, on each Payment Date, payments of principal on the Notes will be made from amounts on deposit in the Collection Account only to the extent that the Additional Principal Payment Amount for such Payment Date is greater than zero.
At all other times, on each Payment Date, payments of principal on the Notes will be made from amounts on deposit in the Collection Account only to the extent that the Additional Principal Payment Amount for such Payment Date is greater than zero.
If Insurance Proceeds are applied as an Additional Principal Payment, such application shall not extend or postpone the due dates of any monthly payments due under the Notes or otherwise under the Transaction Documents, or change the amounts of such payments.
Upon the Facility Termination Date, (i) the Lender's commitment to make any new Advances shall be terminated, (ii) subject to Section 2.11(c), the Applicable Margin will be equal to the amount in clause (ii) of the definition of "Applicable Margin" and (iii) the Lender will be entitled to receive the Additional Principal Payment Amount.
The Additional Principal Payment Amount on each Payment Date will be allocated to the Class of Notes with the highest alphabetical designation until such Class has been paid in full and any remaining amount will be allocated to the remaining outstanding Notes in direct order of alphabetical designation until all Notes have been paid in full.
The Additional Principal Payment shall be applied to the Loan’s principal balance, in inverse order of maturity.
In addition, Maker shall be obligated to pay to Holder a prepayment premium on the Additional Principal Payment (as defined in the Cambridge Note) being applied to the principal balance of this Note in connection with the Defeasance of the Cambridge Note, in an amount equal to the percentage of the principal balance being prepaid in connection therewith, multiplied by the Prepayment Premium that would be due if this Note were accelerated on such date.
In addition, on each Payment Date, payments of principal on the Notes shall be made from certain amounts on deposit in the Collection Account only to the extent that the Additional Principal Payment Amount for such Payment Date is greater than zero.
The Additional Principal Payment Amount on each Payment Date will be allocated as provided pursuant to Section 5.01(a)(ix); provided that the portion of the Additional Principal Payment Amount required to be paid pursuant to Section 2.09(c) shall be allocated to the Notes of the Series for which the relevant Site Acquisition Account was established.