Principal Amortization definition

Principal Amortization for any period all amounts which Borrower is required to pay whether regularly scheduled or as a result of a default excluding payments of principal under the Revolving Credit and whether or not actually paid by Borrower in reduction of Borrower's Indebtedness including without limitation payments on capitalized leases.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Principal Amortization means for any period, all amounts which Borrower and the Consolidated Subsidiaries are required to pay (whether regularly scheduled or as a result of a default and acceleration and whether or not actually paid by Borrower and the Consolidated Subsidiaries) in reduction of Borrower's and the Consolidated Subsidiaries' indebtedness referred {W1772792;7} to in the definition of Interest Expense, as required by the documents relating to such indebtedness; provided, however, that Borrower's repayment of its term loan obligations to Bank of America, N.A. on the date hereof shall not be treated as Principal Amortization for purposes of this Agreement;

Principal Amortization means with respect to any period, all amounts which Borrower and the Operating Subsidiaries are required to pay (whether regularly scheduled or as a result of a default and acceleration and whether or not actually paid) in reduction of the indebtedness referred to in the definition of Interest Expense, as required by the documents relating to such indebtedness; excluding, however, required principal payments with respect to the Line of Credit.

Examples of Principal Amortization in a sentence

Subject to the foregoing, amounts prepaid under Section 2.09(a) shall be applied as the applicable Borrower may elect; provided that if such Borrower fails to specify the application of a voluntary prepayment of Term Loans, then, except as may be otherwise specified in any Refinancing Amendment, such prepayments shall be applied ratably to the remaining Principal Amortization Payments.
All Term Loan prepayments permitted pursuant to this Section 5.6.1 [Right to Prepay] shall be applied to the remaining Principal Amortization Payments of each Class as directed in writing by the Borrower to the applicable Administrative Agent (or if no such direction, ratably to the remaining Principal Amortization Payments of such Class).
Within each Class of Term Loans, prepayments of Term Loans under this Section 5.7 shall be applied to the remaining Principal Amortization Payments with respect to such Class on a pro rata basis among such Principal Amortization Payments until the Term Loans of such Class have been paid in full.
Each purchase of the Notes pursuant to this Section 6.15 shall be applied to reduce ratably each of the Mandatory Principal Amortization Payments remaining after the date of such purchase.
The purchase of Repurchased Notes pursuant to this Section 6.15(b) shall be applied to reduce ratably each of the Mandatory Principal Amortization Payments remaining after the date of such purchase.

More Definitions of Principal Amortization

Principal Amortization. In semiannual installments payable semiannually in arrears commencing with a first installment payable on the month forty two (42) after the Date of Disbursement; Interest Payment: Semiannually in arrears; Arrangement Fee: 0.50 %; Prepayment Fee: in accordance with dispositions in Clause Eleven herein. BANCOLOMBIA has approved a maximum limit for the Loan in the amount of ONE HUNDRED AND THIRTY FIVE MILLION DOLLARS OF THE UNITED STATES OF AMERICA, which shall not be exceeded at any time by the Disbursements carried out to the DEBTOR. CLAUSE THREE – REMUNERATION INTEREST: Over the total outstanding unpaid principal, Remuneration Interest will accrue through the entire Tenor of the Loan at the remuneration Interest Rate. Payment of Remuneration Interest will take place semiannually in arrears taking into account that Remuneration Interest will be calculated based on the Libor Rate set on each date of determination of Interests. Remuneration Interest will be owed by the DEBTOR in favor of BANCOLOMBIA during the term comprised between the Date of the single Disbursement and the date of Maturity of the Loan in which payment is made of all obligations derived from the Loan, in accordance with the conditions stipulated in the Request of Disbursement and which conditions will be formalized through the execution of the respective Promissory Note.

Principal Amortization. As specified in Exhibit A to the 1997 Note Supplement

Principal Amortization. The principal amount of each deferral is payable in six installments, commencing on June 11, 2002 with the final payment on December 11, 2003, in the amounts and on the dates set forth on Schedule A hereto. Deferred interest will be added pro rata to such six installments. Interest Rate: 10% per annum.

Principal Amortization. Tranche A Term Loan Principal Payment Dates Amortization Payment ---------------------- -------------------- June 30, 1999 $2,500,000 September 30, 1999 $2,500,000 December 31, 1999 $5,000,000 March 31, 2000 $5,000,000 June 30, 2000 $5,000,000 September 30, 2000 $5,000,000 December 31, 2000 $5,000,000 March 31, 2001 $7,500,000 June 30, 2001 $7,500,000 September 30, 2001 $7,500,000 December 31,2001 $7,500,000 March 31, 2002 $7,500,000 June 30, 2002 $7,500,000 September 30, 2002 $7,500,000 December 31,2002 $7,500,000 March 31, 2003 $8,750,000 June 30, 2003 $8,750,000 September 30, 2003 $8,750,000 Revolving Loan Maturity Date $8,750,000

Principal Amortization. None, this loan shall be interest only. ----------------------- 2 Conditions: This loan will have no prepayment penalty ----------- (excepting LIBOR provisions, if any) This facility shall be cross-collateralized and cross-defaulted with any other loan facility extended to the Borrowers by The Chase Manhattan Bank or its affiliates.

Principal Amortization. Annual repayments of principal in an amount equal to 16.25% of the annual bonus paid to the borrower by Factory 2-U. Maturity: Five years from the date of the loan.

Filter & Search

Related Definitions