Monthly Repayments definition

Monthly Repayments has the meaning set forth in section 3.4;”
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Monthly Repayments means consecutive monthly payments equal to the Net Cash Receipts multiplied by the Royalty Rate, payable by Company to Spikes until such time as Spikes receives the Repayment Amount (as defined below), provided however, that Company’s first Monthly Repayment shall be based on a prorated amount of the Net Cash Receipts from the month in which the Closing Date occurs, calculated by first multiplying the Net Cash Receipts by the Royalty Rate and then multiplying the resulting sum by a fraction, the numerator of which shall be the number of days from the Closing Date to the end of such month and the denominator of which shall be the total number of days in such month.
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Monthly Repayments is defined in Clause 2.3.1(b) (Repayment of Term Loan).
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Examples of Monthly Repayments in a sentence

  • We won’t increase your Credit Limit if we think you can’t afford to make the Total Monthly Repayments.

  • The face value of any portion of this Note that is converted pursuant to Sections 3.1(a) and 3.1(b) shall be credited towards future Monthly Repayments pursuant to Section 1.3(b).

  • The Borrower shall also pay the aggregate amount of any Minimum Monthly Repayments (together with any interest accrued thereon) which were not paid on the relevant due date by the Borrower and any amount by which the Oxbury Farm Credit Account Limit has been exceeded.

  • The Total Debt is payable by the number and amount of Monthly Repayments scheduled in the table opposite.

  • The Borrower shall also pay the aggregate amount of any Minimum Monthly Repayments (together with any interest accrued thereon) which were not paid on the relevant due date by the Borrower and any amount by which the Oxbury Flexi Credit Account Limit has been exceeded.

  • The first Monthly Repayment is payable on a date which we will notify to you between 21 and 28 days after the Date of this Agreement and all subsequent Monthly Repayments are payable consecutively on the same day of each succeeding month by direct debit.

  • For example, if $229,166.67 of the Outstanding Principal Amount is converted, the Maker shall not be obligated to make the Monthly Repayments for the subsequent three months.

  • You agree that all Monthly Repayments to be made under this Agreement shall be made to our bank account by direct debit, or to such other account, we may notify to you from time to time.

  • You may not: • use your Card for any illegal purpose; • give to or allow others to use your Card or your • use your Card to obtain cash from a merchant; • use your Card if you are bankrupt or insolvent or if you do not honestly expect to be able to make the Total Monthly Repayments; or • continue to use your Card if you have reason to believe that someone else has unauthorised access to your Card and you have not reported to us to take action.

  • Any prepayment made by you shall be applied towards settlement of Monthly Repayments falling due under this Agreement in reverse order of their respective due dates.