Payment of Interest and Principal definition

Payment of Interest and Principal. Borrower shall pay monthly installments of interest on the first day of each month. The proceeds payable to Borrower by an Investor from the sale of Consumer Loans upon which a Separate Bank Advance has been made shall (and Borrower shall, and authorizes Lender to, direct the Investor that such proceeds shall) be forwarded via federal wire transfer by the Investor directly to the Restricted Account, and the amount so received shall first be applied to all amounts advanced by Lender with respect to such Consumer Loans and any other amounts (including without limitation any amounts due upon any declaration incident to an Event of Default) due and owing Lender pursuant to this Agreement, and the balance, if any, of such proceeds shall be remitted to Borrower by crediting its Operating Account with the amount thereof; should Borrower ever receive such proceeds from the Investor, the same will be held in trust for the Lender and immediately remitted to Lender with all necessary endorsements (which Lender is authorized to make on Borrower's behalf) for application as aforesaid. Should the aggregate unpaid principal amount at any time outstanding of all Separate Bank Advances exceed the Maximum Loan Amount, the Borrower will immediately upon Lender's demand repay the principal thereof to the extent of such excess. The entire principal balance of the Loan shall be due and payable in full on the Termination Date.
Sample 1

Examples of Payment of Interest and Principal in a sentence

  • Payment of Interest and Principal Pursuant to the terms and conditions of the Mortgage Loans, Borrowers must pay the monthly amount required under the terms and conditions of the Mortgage Loans on or before each monthly instalment due date within the month they are due.

  • PAYMENTS 6.1 Payment of Interest and Principal Payments in respect of principal, premium (if any) and interest in respect of any Global Note will be made only against presentation of such Global Note to or to the order of the Principal Paying Agent (or the Class Z VFN Registrar in respect of the Class Z VFN) or such other Paying Agent as shall have been notified to the Noteholders in accordance with Condition 15 (Notice to Noteholders) for such purpose.

  • Debt Servicing, Rescheduling and Event of Default7.1. Payment of Interest and Principal on OLL Irrespective of the payment schedules established by the PFI for the Sub-loan, the payment of principal and interest on the OLL is to be made quarterly for the Fixed Investment Loan, whereas the principal of the Working Capital Loan is to be repayable on the due date, while it is renewable.

  • Section 2.1. Purchase and Sale of Certificates 11 Section 2.2. Closing 12 Section 2.3. Method of Purchase 12 Section 2.4. Interest Rates 12 Section 2.5. Payment of Interest and Principal 13 Section 2.6. Fees 14 Section 2.7. Reduction and Termination 14 Section 2.8. [Reserved] 15 Section 2.9. [Reserved 15 Section 2.10.

  • Payment of Interest and Principal; Rights Preserved..........................................

  • Payment of Interest and Principal; Rights Preserved..................................................................................

  • General information of the Connected Transaction Credit line: 500 Million Baht, separately draw down as needed by issuing one or more promissory notes, which each of the notes has the term of no longer than 180 days Interest rate: 6.00 % per annum Tenor: no longer than 12 months Payment of Interest and Principal: payment on the maturity date of each promissory notes Collateral: The Company does not provide any collateral for the creditor.

  • The sequential activities and flow of funds for debt servicing of the OLL can be referred to the attached Chart C, Workflow for Debt Servicing.15.2. Payment of Interest and Principal on On-lending Loan Upon receipt of payment by the PFI, FDIPP-Implementation Unit notifies its receipt of payment by sending Form B-6, Receipt of Payment of Principal and/or Interest.

  • Article 103 - Security for Payment of Interest and Principal The obligations of a security issuer to pay the principal and interest from debt securities may be secured by a bank guarantee, warranty or a similar form of security that must ensure the fulfillment of obligations from all securities of the same class.

  • Payment of Interest and Principal; Rights Preserved........................

Related to Payment of Interest and Principal

  • Unpaid Interest Amount As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Arrears of Interest means as at any date in respect of any Loan, interest (other than Capitalized Interest or Accrued Interest) on that Loan which is currently due and payable and unpaid on that date;

  • Unpaid Interest Amounts As of any Distribution Date and any Class of Certificates, the sum of (a) the portion of the Accrued Certificate Interest Distribution Amount from Distribution Dates prior to the current Distribution Date remaining unpaid immediately prior to the current Distribution Date and (b) interest on the amount in clause (a) above at the applicable Pass-Through Rate (to the extent permitted by applicable law).

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Class Unpaid Interest Amounts As to any Distribution Date and Class of interest bearing Certificates, the amount by which the aggregate Class Interest Shortfalls for such Class on prior Distribution Dates exceeds the amount distributed on such Class on prior Distribution Dates pursuant to clause (ii) of the definition of Class Optimal Interest Distribution Amount.

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • Accrued Note Interest means, for a Class and a Payment Date, the sum of the Note Monthly Interest and the Note Interest Shortfall.

  • Class B-1 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-1 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-1 Certificates on prior Distribution Dates pursuant to Paragraph sixth of Section 4.01(a).

  • Class B-3 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-3 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-3 Certificates on prior Distribution Dates pursuant to Paragraph twelfth of Section 4.01(a).

  • Class B-2 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-2 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-2 Certificates on prior Distribution Dates pursuant to Paragraph ninth of Section 4.01(a).

  • Accrued Class A Note Interest means, with respect to any Payment Date, the sum of the Class A Noteholders’ Monthly Accrued Interest for such Payment Date and the Class A Noteholders’ Interest Carryover Shortfall for such Payment Date.

  • Interest Date means the last day of an Interest Period.

  • Principal Payment Dates means unless otherwise determined by the Fiscal Officer in the Certificate of Award, December 1 in the years from and including 2020 to and including 2035, provided that in no case shall the latest Principal Payment Date be later than the maximum maturity of the Bonds referred to in the preambles hereto.

  • Payments of Principal and Interest Payments of Principal and Interest. Promptly after each Regular Record Date, the Trustee will deliver to the Company and DTC a written notice specifying by CUSIP number the amount of interest, if any, to be paid on each Global Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with a Maturity Date) and the total of such amounts. DTC will confirm the amount payable on each Global Note on such Interest Payment Date by reference to the daily bond reports published by Standard & Poor's. On such Interest Payment Date, the Company will pay to the Trustee, and the Trustee in turn will pay to DTC, such total amount of interest due (other than on the Maturity Date), at the times and in the manner set forth below under "Manner of Payment". If any Interest Payment Date for any Note is not a Business Day, the payment due on such day shall be made on the next succeeding Business Day and no interest shall accrue on such payment for the period from and after such Interest Payment Date.

  • Additional Interest Amount means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of Additional Interest paid by the Depositor on a Like Amount of Notes for such period.

  • Class B-6 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-6 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-first of Section 4.01(a).

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

  • Interest Amount means, in relation to a Note and an Interest Period, the amount of interest payable in respect of that Note for that Interest Period;

  • Class B-4 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-4 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-4 Certificates on prior Distribution Dates pursuant to Paragraph fifteenth of Section 4.01(a).

  • Class B Unpaid Interest Shortfall Any of the Class B-1 Unpaid Interest Shortfall, Class B-2 Unpaid Interest Shortfall, Class B-3 Unpaid Interest Shortfall, Class B-4 Unpaid Interest Shortfall, Class B-5 Unpaid Interest Shortfall or Class B-6 Unpaid Interest Shortfall.

  • Class B-5 Unpaid Interest Shortfall As to any Distribution Date, the amount, if any, by which the aggregate of the Class B-5 Interest Shortfall Amounts for prior Distribution Dates is in excess of the amounts distributed in respect of the Class B-5 Certificates on prior Distribution Dates pursuant to Paragraph eighteenth of Section 4.01(a).

  • Month End Interest As defined in each Servicing Agreement.

  • Final Payment Date means the "Final Payment Date" as specified in § 1 of the Product and Underlying Data.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Scheduled Principal Payment Date means, with respect to any Series, Class or Tranche of Notes, the scheduled due date of any payment of principal on such Notes, as specified in the related Indenture Supplement, or if such day is not a Business Day, the next following Business Day, unless such day is in the next calendar month, in which case such Scheduled Principal Payment Date, unless otherwise specified in the related Indenture Supplement, will be the last Business Day of the current calendar month.

  • Class A Note means a Class A-1 Note, a Class A-2 Note, a Class A-3 Note or a Class A-4 Note.