Payment of principal definition

Payment of principal means the portion of a payment for the purchase of a cemetery lot, cemetery services and mer- chandise, or a mausoleum space that represents the principal amount owed by the purchaser for the cemetery lot, cemetery ser- vices and merchandise, or mausoleum space, and does not include any portion of the payment that represents any taxes, finance or interest charges, administrative fees, or insurance premiums.

Payment of principal a payment of principal is made in respect of this Permanent Global Note;

Payment of principal a payment of principal is made in respect of this Global Note;

Examples of Payment of principal in a sentence

• Payment of principal of (and premium, if any) and any such interest on the Notes will be made at the Corporate Trust Office of the Trustee in New York, New York in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register.

• Payment of principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note on the date of payment, unless a record date or other means of determining Holders eligible to receive payment is provided for herein.

• Payment of principal of, premium, if any, and interest on this Security shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.

• Payment of principal (including the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, a Global Note shall be made to the Holder of such Note on the date of payment, unless a record date or other means of determining Holders eligible to receive payment is provided for herein.

• Payment of principal and interest (including any Additional Interest) on such Securities shall remain subordinated to the extent provided in Article XIII notwithstanding that such amount shall become immediately due and payable as herein provided.

More Definitions of Payment of principal

Payment of principal the Liquidity Facility Provider receiving payments of principal other than on the Distribution Date immediately following the last day of the relevant Interest Period for any reason.

Payment of principal. The “Maturity Date” shall May 1, 2021, as may be extended at the option of the Holder in the event that, and for so long as, an Event of Default (as defined below) shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) or any event shall not have occurred and be continuing on the Maturity Date (as may be extended pursuant to this Section 1) that with the passage of time and the failure to cure would result in an Event of Default.”

Payment of principal. The outstanding principal amounts with respect to the Revolver Loans shall be repaid as follows: (i) Any portion of the Revolver Loans consisting of the principal amount of Base Rate Loans shall be paid by Borrowers to Agent, for the Pro Rata benefit of Lenders (or, in the case of Settlement Loans, for the sole benefit of Fleet) unless timely converted to a LIBOR Loan in accordance with this Agreement, immediately upon (a) each receipt by Agent, any Lender or Borrowers of any proceeds of any of the Receivables or Inventory, to the extent of such proceeds, (b) the Commitment Termination Date, and (c) in the case of Settlement Loans, the earlier of Fleet's demand for payment or on each Settlement Date with respect to all Settlement Loans outstanding on such date. (ii) Any portion of the Revolver Loans consisting of the principal amount of LIBOR Loans shall be paid by Borrowers to Agent, for the Pro Rata benefit of Lenders, unless converted to a Base Rate Loan or continued as a LIBOR Loan in accordance with the terms of this Agreement, immediately upon (a) the last day of the Interest Period applicable thereto and (b) the Commitment Termination Date. In no event shall Borrowers be authorized to make a voluntary prepayment with respect to any Revolver Loan outstanding as a LIBOR Loan prior to the last day of the Interest Period applicable thereto unless Borrowers pay to Agent, for the Pro Rata benefit of Lenders any amount due Agent and Lenders under Section 2.10 hereof as a consequence of such prepayment. Notwithstanding the foregoing provisions of this Section 4.2.1(ii), if, on any date that Agent receives proceeds of any of the Receivables or Inventory, there are no Revolver Loans outstanding as Base Rate Loans, Agent may either hold such proceeds as cash security for the timely payment of the Obligations or apply such proceeds to any outstanding Revolver Loans bearing interest as LIBOR Loans as the same become due and payable (whether at the end of the applicable Interest Periods or on the Commitment Termination Date); provided that Agent shall remit to Borrower Agent all such cash proceeds and such cash security on any date that each of the Cash Turnover Conditions is satisfied. (iii) Notwithstanding anything to the contrary contained elsewhere in this Agreement, if an Out-of-Formula Condition shall exist, Borrowers shall, on the sooner to occur of Agent's demand or the first Business Day after either Borrower has obtained knowledge of such Out-of-Formula...

Payment of principal. The unpaid principal balance of $230,000.00 shall be paid as follows: Prior to March 15, 1997, Makers shall pay the sum of $35,000.00 to Payee. The remaining unpaid principal balance of $195,000.00 shall be due and payable on or before September 30, 1997.

Payment of principal. Subject to Borrower's right to prepay this outstanding principal under this Note, beginning on April 1, 1998 and continuing through and including September 1, 1999, Borrower will make payment to Lender a principal payment of One Hundred Sixty-Six Thousand Six Hundred Sixty-Six and 67/100s Dollars ($166,666.67) on the first day of each month. Borrower will pay Lender at Lender's address shown above or at such other place as Lender may designate in writing. Unless otherwise agreed or required by applicable law, payments will be applied first to accrued unpaid interest, then to principal, and any remaining amount to any unpaid collection costs and late charges.

Payment of principal default shall occur in the due and punctual payment of all or any part an Advance when and as the same shall become due and payable, whether at stated maturity, by acceleration, by mandatory prepayment, by notice of prepayment or otherwise; or

Payment of principal. The Term Loan shall be repaid on the first day of each Fiscal Quarter in consecutive quarterly installments of $88,125, commencing on October 1, 2024 and continuing until the Term Loan Maturity Date, on which date all principal, interest and other amounts owing with respect to the Term Loan shall be due and payable in full. Once repaid, whether such repayment is voluntary or required, no portion of the Term Loan may be reborrowed. Any prepayment of Term Loans shall be accompanied by all interest accrued thereon and any amounts payable under Section 3.9, and shall be applied to principal in inverse order of maturity.