Monthly Amortization Payment definition

Monthly Amortization Payment means a payment of principal of the Term Loans in an amount equal to (x) the then-outstanding principal amount (including any PIK Interest) divided by (y) the number of months left until the Maturity Date. The Monthly Amortization Payment shall be calculated by the Borrower, and provided to the Lender for review, initially prior to the first such payment and recalculated following any prepayment of the Term Loans and/or incurrence of any Delayed Draw Term Loans.

Monthly Amortization Payment means, with respect to each Monthly Amortization Payment Date, an amount equal to the applicable principal component of a notional monthly constant payment of principal and interest, computed as of the first Monthly Amortization Payment Date on the basis of (a) the then outstanding principal balance of the Loan, (b) a rate per annum equal to the Interest Rate hereunder as of the date of computation, and (c) a thirty (30) year amortization period, as determined by Lender in its sole and absolute discretion.

Monthly Amortization Payment has the meaning set forth in Section 3.01(a).

Examples of Monthly Amortization Payment in a sentence

• In addition to any monthly payments of interest due pursuant to Section 1.2(a) above, if the First Extension Option and/or the Second Extension Option are timely exercised by Borrower in strict accordance with the terms and conditions of Section 2.9 of the Project Loan Agreement, during the applicable Extension Term Borrower shall, on each Payment Date, pay the Monthly Amortization Payment.

• The Borrower may prepay all or any part of the principal outstanding on the Loan at any time without premium or penalty, and any such prepayment shall be applied to the next scheduled Minimum Monthly Amortization Payment that has not previously been prepaid either voluntarily or pursuant to Section 2.4.2 (Excess Amortization Payments) above.

• If and for so long as Borrower’s amortization of the Maximum Loan Amount is at least 30 days ahead of the schedule (“Amortization Schedule”) required under Section 2.4.1 (Minimum Monthly Amortization) (i.e., in the event the amount of the next Minimum Monthly Amortization Payment is zero), then the amount required to be deposited in the Interest Reserve Account shall be a minimum of an amount equal to six (6) months’ interest due on the Maximum Loan Amount on the date of such determination.

• Then we can click on the individual employee on the list to open a new window or menu to add the Loan Entry with metadata fields and/or information for Date Filed, Loan Type (Dropdown list of available loans entered in the system in the Loan Type Menu of the File Management Module), Reference Number, Loan Amount, Monthly Amortization, Payment Start, Payment End, Remarks, Payment Number, Payment Date, Deduct Loan (Dropdown Yes or No), Add Record Button, and Edit Button.

• Each Monthly Amortization Payment shall be due on such date and the last day of each calendar month thereafter until the Maturity Date.

More Definitions of Monthly Amortization Payment

Monthly Amortization Payment has the meaning given to such term in Section 2.15(a).

Monthly Amortization Payment means each installment of principal of the Loan required to be paid pursuant to clause (b) of Section 2.4 hereof.

Monthly Amortization Payment has the meaning ascribed thereto in the Notes.

Monthly Amortization Payment means a payment of principal of the Term Loans in an amount equal to (x) the then- outstanding principal amount (including any PIK Interest) divided by (y) the number of months left until the Maturity Date. The Monthly Amortization Payment shall be calculated by the Borrower, and provided to the Lender for review, initially prior to the first such payment and recalculated following any prepayment of the Term Loans and/or incurrence of any Delayed Draw Term Loans.

Monthly Amortization Payment. With respect to any Inventory Loan Tranche, the lesser of (x) an amount equal to (i) the outstanding principal balance of such Inventory Loan Tranche as of the first day of the calendar month immediately preceding the 25th Monthly Payment Date following the date on which the related Advance was made, divided by (ii) 60, and (y) the outstanding principal balance of such Inventory Loan Tranche.

Monthly Amortization Payment has the meaning set forth in Section 3.01(a). “Multiemployer Plan” means any multiemployer plan, as defined in Section 400l(a)(3) of ERISA, to which any ERISA Affiliate incurs or otherwise has any obligation or liability, contingent or otherwise.

Monthly Amortization Payment means, with respect the thirteenth (13th) Payment Date (i.e., December 31, 2018 after giving effect to the Business Day convention contained in the definition of “Payment Date”) and on each Payment Date thereafter, a principal payment of $266,000.00 (to be the original principal amount divided by 300; i.e., 25-year amortization).