Minimum Multiple definition
Examples of Minimum Multiple in a sentence
If any insurance Proceeds are applied to reduce the Indebtedness, provided no Event of Default shall have occurred and be continuing, Lender shall apply the same, without any Minimum Multiple Fee or Exit Fee, as applicable, in accordance with the provisions of Section 2.7(c) of this Agreement.
Damoose agrees in good faith to perform those duties normally associated with being a director of similar companies including attendance at board and committee meetings as designated by the Board.
If the Minimum Multiple has not been satisfied as of the date of final repayment of the Loan, Borrower’s final prepayment or repayment of the Loan in full shall, in addition to all amounts required above, include the amount necessary to satisfy the Minimum Multiple and such amount shall be distributed by Administrative Agent to the Lenders.
Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing, Lender, at its option, may apply any insurance Proceeds to the Indebtedness in such order and priority as Lender deems appropriate in its sole discretion and a Minimum Multiple Fee, Exit Fee, and Breakage Fee (as applicable) shall be due and payable in accordance with the terms of Section 2.5 in connection with any such prepayment.
If the Proceeds are used to reduce the Indebtedness, they shall be applied in the order provided in Section 2.7(c), without any Minimum Multiple Fee or Exit Fee, as applicable.
The entire outstanding principal amount of the Loan, together with accrued and unpaid interest thereon and all other amounts due to Administrative Agent and Lenders hereunder and under the other Loan Documents (including, if applicable, the Minimum Multiple), shall be payable by Borrower in full on the Maturity Date.
The payment of the applicable, Breakage Fee, Exit Fee and Minimum Multiple Fee shall be a condition precedent to the release by Lender of the Mortgages and other collateral securing the Loan.
Subject to payment by Borrower of any applicable Breakage Fee, but otherwise without Borrower being required to pay the Minimum Multiple Fee or other fee or penalty, Borrower shall be permitted to prepay the Loan or post cash security or a letter credit, acceptable to Lender in each case, in an amount necessary to satisfy the foregoing Loan to Value Ratio requirement.
Borrower and Lender shall deem and treat the registered owner of any note as shown in the Register as the absolute owner thereof for all purposes, and neither Borrower nor Lender shall be affected by any notice to the contrary and payment of the principal of, interest on, and Minimum Multiple Fee or Exit Fee, as applicable, if any, due on or with respect to the related note shall be made only to or upon the order of such registered owner.
If any insurance Proceeds are applied to reduce the Indebtedness, provided no Event of Default shall have occurred and be continuing, Lender shall apply the same, without any Minimum Multiple Fee, Exit Fee or Closed Period Prepayment Fee, as applicable, in accordance with the provisions of Section 2.7(c) of this Agreement.