P&I Repayment definition
Examples of P&I Repayment in a sentence
Payment Schedule Prior to Bank Repayment Date: During the period commencing on the first PRE Payment Date and ending on the Bank Repayment Date, Borrower shall pay the PI Repayment Amount (determined in accordance with this Schedule 10.
Upon the occurrence of an Event of Default that is continuing, PRE Lender shall be entitled to accelerate any future repayments of the PI Repayment Amount and to enforce the Security Agreements; provided that prior to the Bank Repayment Date, such acceleration and enforcement is permitted by the Intercreditor Agreement.
Prior to the Determination Date, interest shall accrue and be payable on the Senior PI Repayment Amount.
If the Bank Repayment Date does not occur by October 15, 2015, then on the 15th of each October, January, April and July until the Bank Repayment Date and on the next such date after the Bank Repayment Date, Borrower shall make a payment on each such date of $4,000,000 plus accrued interest on the Senior PI Repayment Amount at the Applicable Rate.
If the PI Repayment Amount is determined to be more than the Senior PI Repayment Amount, interest on such excess amount shall accrue (but will not be payable) for the period between the Termination Date and the Bank Repayment Date and on the Bank Repayment Date all such accrued interest shall be capitalized into the PI Repayment Amount.
If the PI Repayment Amount is determined to be less than the Senior PI Repayment Amount, Borrower will receive a credit for the overpayment of interest on the next PRE Payment Date.
The Lender acknowledges, accepts and agrees that changes in the value of the Loan Crypto Type between the grant of a Loan and receipt of a P&I Repayment shall not impact the amount of a P&I Repayment.