Pay-Off Date definition

Pay-Off Date means the date upon which the Total Commitment has been terminated, no Note is outstanding, all Loans have been repaid in full in cash, all Letters of Credit have been terminated and all other Obligations then outstanding (other than (i) if prior to the last day of the Borrower’s fiscal year ending closest to September 30, 2011, the aggregate unpaid PIK Interest Amount, or (ii) if on or after the last day of the Borrower’s fiscal year ending closest to September 30, 2011, 50% of the aggregate unpaid PIK Interest Amount) have been paid in full in cash.
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Pay-Off Date means the date determined by Lender on which Borrower will tender the Pay-Off Amount to Lender in exchange for Lender releasing the Lien on the Collateral being held at the Depository Broker.
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Pay-Off Date means the date upon which the Principal Amount and all accrued but unpaid Interest and Assessments shall be paid or discharged in full.
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Examples of Pay-Off Date in a sentence

  • From and after the Computation Date and until the Pay-Off Date (as defined below), interest shall continue to accrue on the Pay-Off Amount calculated as of the Computation Date at the Default Rates set forth in the Note Documents.

  • The Borrower agrees to pay to the Agent in full in cash the Pay-Off Amount, including any additional interest accruing after the Computation Date, on or prior to 12:00 p.m. (New York time) on the Pay-Off Date.

  • The Administrative Agent, on behalf of the Lenders, further agrees to deliver to the Borrower, after the Pay-Off Date, at the Borrower’s sole cost and expense, such other releases or termination statements as the Borrower may reasonably request in connection with the Administrative Agent’s and the Lenders’ above-described release and termination of the security interests and liens granted to the Administrative Agent for the benefit of the Lenders.

  • The closing of the transactions contemplated by Section 7 of this Agreement (the “Pay-Off Closing”) shall take place at the offices of K▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ in Atlanta, Georgia on the Pay-Off Date, or at such time and place as MRTC and the B▇▇▇▇▇ Group shall agree prior to the Pay-Off Closing (the date of the Pay-Off Closing being referred to as the “Pay-Off Closing Date”).

  • The parties hereby agree and acknowledge that payment of the Primary Pay-Off Amount is not contingent, shall be payable in full on the Pay-Off Date and shall not be calculated by determining the lesser of (A) the Primary Excess Disposition Proceeds (as defined in the Note) plus the Secondary Pay-Off Amount and (B) the Maximum Amount (as defined in the Note).

  • If any article or part thereof of this Agreement, or any addition thereto, should be found in violation of any federal, state, or local law, or its adherence to or enforcement of any article or part thereof should be restrained by a court of law, the remaining articles of agreement, or any addition thereto, will not be affected.

  • From and after the Computation Date and until the Pay-Off Date (as defined below), interest shall continue to accrue on the unpaid principal amount of the Term Loan at the rates set forth in the Credit Agreement.


More Definitions of Pay-Off Date

Pay-Off Date shall have the meaning given to that term in SECTION 5.3(b) of this Agreement.
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Pay-Off Date shall have the meaning given to such term in Section 13.11 below.
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Pay-Off Date shall have the meaning given to that term in Section 4.3(b) of the Guarantor Loan Agreement.
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Pay-Off Date has the meaning set forth in Section 7.14 hereof.
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Pay-Off Date is defined in the Note.
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Pay-Off Date shall have the meaning given to that term in Section 5.3(b) of each Project Loan Agreement.
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Related to Pay-Off Date

  • Cut-off Date With respect to each Original Mortgage Loan, December 1, 1998. With respect to all Qualified Substitute Mortgage Loans, their respective dates of substitution. References herein to the "Cut-off Date," when used with respect to more than one Mortgage Loan, shall be to the respective Cut-off Dates for such Mortgage Loans.

  • Reference Cut-Off Date means the eighth Scheduled Trading Day immediately following the Scheduled Reference Date or, if earlier, the Scheduled Trading Day falling on or immediately preceding the second Business Day immediately preceding the due date on which payment of any amount or delivery of any assets may have to be made pursuant to any calculation or determination made on such Reference Date, provided that the Reference Cut-Off Date shall not fall prior to the original date on which such Reference Date was scheduled to fall.

  • Subsequent Cut-off Date With respect to those Subsequent Mortgage Loans sold to the Trust Fund pursuant to a Subsequent Transfer Instrument, the later of (i) first day of the month in which the related Subsequent Transfer Date occurs or (ii) the date of origination of such Mortgage Loan.

  • Initial Cut-Off Date With respect to any Initial Mortgage Loan, the later of (i) the date of origination of such Mortgage Loan and (ii) November 1, 2006. Initial Cut-off Date Pool Principal Balance: $799,232,004.

  • Removal Cut-Off Date means, with respect to the Removed Accounts, .