Fixed Increment definition

Fixed Increment. The portion of the outstanding principal --------------- balance hereof specified by Maker to Payee effective as of the applicable Fixed Period Commencement Date (as herein defined); provided, however, in no event shall the initial Fixed Increment be less than One Million and No/100 Dollars ($1,000,000.00) and all other Fixed Increments shall be available in increments of Five Hundred Thousand and No/100 Dollars ($500,000.00) or the remaining outstanding principal balance under this Note.
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Fixed Increment means the portion of the outstanding principal --------------- balance of the Facility specified by Borrower effective as of the applicable Fixed Period Commencement Date provided, however, in no event shall any such -------- Fixed Increment be less than One Million Dollars ($1,000,000.00).
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Fixed Increment. The portion of the outstanding principal balance hereof specified by Maker to Agent effective as of the applicable "Fixed Period Commencement Date" (as defined below); provided, however, in no event shall any such Fixed Increment be less than One Million and No/100 Dollars ($1,000,000.00).
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Examples of Fixed Increment in a sentence

  • Notwithstanding anything contained ------------------------ herein to the contrary, if Maker elects the Fixed Increment Rate to apply but Payee is unable for any reason to obtain funds in the amount of the Fixed Increment elected for the Fixed Period elected, interest on such Fixed Increment shall accrue at the Applicable Rate unless and until a new election of the Fixed Increment Rate is made by Maker and Payee is then able to obtain such funds.

  • Notwithstanding anything contained herein to the contrary, if the Maker elects the Fixed Increment Rate to apply but the Payee is unable for any reason to obtain funds from Payee in the amount of the Fixed Increment elected for the Fixed Period elected, interest on such Fixed Increment shall accrue at the Base Rate unless and until a new election of the Fixed Increment Rate is made by Maker and the Payee is then able to obtain such funds.

  • After Maker has designated a Fixed Increment to which the Fixed Increment Rate shall apply, such rate shall apply to the Fixed Increment for the duration of the Fixed Period.

  • In the absence of an effective election by --------------------- Maker of the Fixed Increment Rate in accordance with the above procedures prior to the expiration of the then current Fixed Period with respect to any Fixed Increment, interest on such Fixed Increment shall accrue at the Applicable Rate, effective immediately upon the expiration of such Fixed Period.

  • If Maker elects the Fixed Increment Rate, but the applicable Fixed Period will commence on a date which is not a Business Day, such Fixed Period shall be deemed to commence on the next Business Day after it would otherwise commence, and any interest which accrues hereunder in the interim shall accrue at the Applicable Rate.

  • If the Maker elects the Fixed Increment Rate, but the applicable Fixed Period will commence on a date which is not a Business Day, such Fixed Period shall be deemed to commence on the next Business Day after it would otherwise commence, and any interest which accrues hereunder in the interim shall accrue at the Base Rate.

  • The date the quoted Fixed Increment Rate is telephonically accepted by Maker shall be the Fixed Period Commencement Date for that Fixed Period.

  • In addition, in any such -------------------------------------- event, the provisions of the immediately preceding paragraph hereto (relating to the obligation of Maker to pay to Payee certain amounts in the event of the prepayment of a Fixed Increment prior to the last day of the applicable Fixed Period) shall apply with respect to any Fixed Increment prepaid by Maker prior to the last day of the applicable Fixed Period as a result of the acceleration by Payee of the outstanding principal balance hereof.

  • It is further understood and agreed by the Landlord and the Tenant that the Base Rent in effect hereunder shall not be increased by any Additional Fixed Increment that is imposed as rent upon the Landlord by the Ground Lessor under the Ground Lease.

  • If notice has been given pursuant to Paragraph A above requiring a Fixed Increment to be repaid or converted, then unless and until Payee notifies Agent and Maker that the circumstances giving rise to such repayment or conversion no longer apply, Maker shall not have the right to elect to have the Fixed Increment Rate apply.