Amortizing Loan definition
Examples of Amortizing Loan in a sentence
The Borrower shall pay to the Administrative Agent for the account of each applicable Lender the principal of the Loans (including the Amortizing Loan Portion of the Loans) outstanding as of the Maturity Date (and the principal of the Loans outstanding as of the Maturity Date shall be due and payable) in full on the Maturity Date.
The Borrower may not repay and reborrow the Amortizing Loan Portion of the Loans.
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, Mandatory Prepayment or Scheduled Amortizing Loan Repayment of the principal amount of the Loan.
The Lenders hereby authorize the Agent to, concurrently with the Borrower's paying the principal payment of the Amortizing Loan Portion of the Loans on November 15, 2000, release its Liens affecting $794,000 in cash collateral securing the Letter of Credit Liabilities relating to the Reliance Letter of Credit which were previously granted by the Borrower.
Each prepayment under this Section 2.14 shall be accompanied by the prepayment of accrued and unpaid interest on the amount prepaid to the date of prepayment and any amounts payable under Section 4.5(a) and shall be applied first to the installments of principal due under the Amortizing Loan Portion of the Loans in the inverse order of the maturities of such installments and thereafter to the outstanding principal of the Revolving Loan Portion of the Loans.
During the Forbearance Period, the Agent and ▇▇▇▇▇▇▇ agree to accept fifty percent (50%) of the quarterly Amortizing Loan Payments due on June 30, 2023 and September 30, 2023, which shall be remitted by the Obligors in monthly installments in accordance with the Budget without any allowed variance, and failure to do so shall constitute a Forbearance Termination Event.
Thereafter, until Bank notifies Company that such circumstances no longer exist, the obligation of Bank to make Eurodollar-based Advances, and the right of Company to convert an Advance to or refund an Advance as a Eurodollar-based Advance and the right of Company to elect the Eurodollar-based Rate for the Amortizing Loan shall be suspended.
The Borrower shall pay to the Agent for the account of each applicable Lender the principal of the Loans (including the Amortizing Loan Portion of the Loans) outstanding as of the Maturity Date (and the principal of the Loans outstanding as of the Maturity Date shall be due and payable) in full on the Maturity Date.
Prior to an Event of Default and once received in accordance with the terms of the Depositary Agreement, any Mandatory Prepayments required to be paid pursuant to Section 5.2.1(d) or Scheduled Amortizing Loan Repayments required to be paid pursuant to Section 5.2.3 shall, in each case, be applied exclusively to reduce the outstanding principal amount of the Amortizing Loan.
Thereafter, until Bank notifies Company that such circumstances no longer exist, the obligation of Bank to make Eurodollar- based Advances, and the right of Company to convert an Advance to or refund an Advance as a Eurodollar-based Advance and the right of Company to elect the Eurodollar-based Rate for the Amortizing Loan shall be suspended.