Outstanding Principal Balance of the Loan definition

Outstanding Principal Balance of the Loan means the outstanding principal balance of the Bonds allocable to the Loan, regardless of any payments made by the Borrower to the Trustee for application to the redemption of the Bonds (or to reimbursement of the Bank for any Principal Drawing in connection therewith) or for deposit in the Borrower’s Principal Account, if any, until such time as such redemption is effected, as provided in Section 4.9 hereof.
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Examples of Outstanding Principal Balance of the Loan in a sentence

  • As consideration for the assignment of the Further Advance or Flexible Loan Drawing to the LLP, there shall be a deemed Capital Contribution in Kind by the Seller (in its capacity as Member) in an amount equal to the relevant increase of the Outstanding Principal Balance of the Loan, in accordance with clause 8.3 of the LLP Deed.

  • Interest on the Outstanding Principal Balance of the Loan shall accrue at the Interest Rate or as otherwise set forth in this Agreement or in the Note from (and including) the Closing Date to but excluding the Maturity Date.

  • After request by Borrower not more than once in any calendar year, Lender shall within fifteen (15) Business Days furnish Borrower with a statement stating (i) the Outstanding Principal Balance of the Loan, (ii) the Interest Rate and (iii) that, to Lender’s knowledge, this Agreement and the other Loan Documents have not been modified or if modified, giving particulars of such modification.

  • Borrowers, pursuant to the Defeasance Security Agreement, shall authorize and direct that the payments received from Defeasance Collateral be made directly to Lender and applied to satisfy the Obligations under the Note or the Defeased Note, as applicable, including payment in full of the Outstanding Principal Balance of the Loan or the outstanding principal balance of the Defeased Note, as applicable, as of the Prepayment Lockout Expiration Date.

  • THE RECIPIENT FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, OR FOR ANY PERIOD AT ALL, AND SHALL NOT INTERFERE WITH THE RECIPIENT’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE THE RECIPIENT’S RELATIONSHIP WITH THE COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE OR NOTICE.

  • At any time after an Event of Default, Borrower may elect to convert the Outstanding Principal Balance of the Loan (including any accrued but unpaid interest and any other sums which are due and payable under the Note or the other Loan Documents which are then unpaid) into common stock of Guarantor.

  • If the Alaris Short Term Lease Extension Date shall not have occurred on or prior to September 1, 2005, Borrower shall pay to Lender on the Payment Date occurring in September, 2005, a fee in an amount equal to one percent (1%) of the original principal balance of the Loan (the “Alaris Lease Fee”), which Alaris Lease Fee shall not be applied to the payment of the Outstanding Principal Balance of the Loan.

  • Interest on the Outstanding Principal Balance shall be calculated by multiplying (A) the actual number of days elapsed in the period for which the calculation is being made by (B) a daily rate based on a three hundred sixty (360) day year (that is, the Applicable Interest Rate or the Default Rate, as then expressed as an annual rate divided by 360) by (C) the Outstanding Principal Balance of the Loan.

  • Without limiting the foregoing, upon the occurrence of, and during the continuance of, an Event of Default, the entire Outstanding Principal Balance of the Loan shall bear interest at the Default Rate.

  • After request by Borrower not more than once in any calendar year, Administrative Agent shall within fifteen (15) Business Days furnish Borrower with a statement stating (i) the Outstanding Principal Balance of the Loan, (ii) the Interest Rate and (iii) that, to Administrative Agent’s knowledge, this Agreement and the other Loan Documents have not been modified or if modified, giving particulars of such modification.

Related to Outstanding Principal Balance of the Loan

  • Outstanding Principal Balance As of the time of any determination, the principal balance of a Mortgage Loan remaining to be paid by the Mortgagor, or, in the case of an REO Property, the principal balance of the related Mortgage Loan remaining to be paid by the Mortgagor at the time such property was acquired by the Trust Fund less any Net Liquidation Proceeds with respect thereto to the extent applied to principal.

  • Aggregate Outstanding Principal Balance means, as of any date of determination, the sum of the Outstanding Principal Balances of each Class of Notes outstanding on such date.

  • Class A Principal Balance As of any date, an amount equal to the sum of the Principal Balances for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-PO Certificates and Class A-R Certificate.

  • Class A-1 Principal Balance as of any date means the Class A‑1 Initial Principal Balance less all amounts paid to the holders of Class A‑1 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Note A-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.