Partial Release Principal Reduction Payment definition

Partial Release Principal Reduction Payment means a payment of a principal an amount that, if it had been made and applied to the principal balance of the Loan on the last day of the applicable fiscal quarter, would have reduced the principal balance of the Loan to an amount that would have enabled the Retained Project Debt Yield and the Retained Project Debt Service Coverage Ratio to be in compliance with the requirements specified in Section 2.17(a).
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Partial Release Principal Reduction Payment means a payment of a principal an amount that, if it had been made and applied to the principal balance of the Loan on the last day of the applicable fiscal quarter, would have reduced the principal balance of the Loan to an amount that would have enabled the Retained Project Debt Service Coverage Ratio and the Retained Project Debt Yield to be in compliance with the requirements specified in Section 2.17(a)(v).
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Examples of Partial Release Principal Reduction Payment in a sentence

  • Following the Partial Release, the monthly principal payments required under Section 2.3(a) shall be recalculated based upon the outstanding principal balance of the Loan after the Partial Release Payment (and Partial Release Principal Reduction Payment, if made) is applied by Lenders and assuming a 25-year amortization period, less the full or partial months elapsed since the Closing Date.

  • Following each Partial Release, the monthly principal payments required under Section 2.3(a) shall be recalculated based upon the outstanding principal balance of the Loan after the Partial Release Payment (and Partial Release Principal Reduction Payment, if made) is applied by ▇▇▇▇▇▇▇ and assuming a 25-year amortization period, less the full or partial months elapsed since the Closing Date.