Principal Due Date definition

Principal Due Date means the earliest to occur of the following dates: (i) the scheduled maturity date of the Loan, as set forth in the Loan Documents, (ii) the date to which the repayment of the Loan is accelerated by Lenders for any reason, including, without limitation, by reason of one or more defaults under the Loan Documents, and (iii) the date on which the Loan is prepaid as a result of the election of the Majority-In-Interest to prepay the Loan prior to the scheduled maturity date.
View Source

Examples of Principal Due Date in a sentence

  • In accordance with the Note and the Fiscal Agency/Trust Agreements, payment shall be made by 3:00 P.M. (New York City time) on the seventh Business Day (the "Note Payment Date") preceding the relevant Interest Due Date or Principal Due Date (each as defined in the Note).

  • Advances and Conversion Date Advances shall be requested and will only be approved and made in increments of not less than $1,000 for any Principal Due Date.

  • If the Borrower requests an Advance or Conversion Date Advance of less than the outstanding Maximum Commitment Amount under the Note, the Borrower may also specify in its written request the amount of the Advance or Conversion Date Advance to be allocated to each Commitment Amount or Principal Amount per Principal Due Date under the Note.

  • Prior to the Conversion Date, the Borrower agrees that the Fiscal Agent pursuant to the Fiscal Agency Agreement shall record the date and amount of each payment and Advance under the Note and shall maintain the books and records of all Advances and Conversion Date Advances for each Principal Due Date, interest rates on Advances, payments, and Principal Amounts outstanding for each Principal Due Date.

  • Prior to the Conversion Date (as defined in the Note, Section I.A.), the total amount of Advances made by the Holder for each Principal Due Date under the Note shall not exceed the applicable Commitment Amount for such Principal Due Date set forth in the Commitment Schedule of the Note.

  • On each Payment Date, beginning with the earlier of the Class A Scheduled Payment Date and the Note Principal Due Date, the amount deposited in the Note Distribution Account pursuant to subsection 2.7(a)(iv) on the related Transfer Date shall be paid by the Paying Agent to the Class A Noteholders in respect of principal of the Class A Notes.

  • On each Payment Date, beginning with the earlier of the Class B Scheduled Payment Date and the Note Principal Due Date, the amount deposited in the Note Distribution Account pursuant to subsection 2.7(a)(v) on the related Transfer Date shall be paid by the Paying Agent to the Class B Noteholders in respect of principal of the Class B Notes.

  • The principal amount of this Note shall be due and payable to the Holder(s) hereof in the following installments: Amount of Principal Due Date $500,000 Last day of the 30th month from the date hereof $450,000 Last day of the 36th month from the date hereof $450,000 Last day of the 42nd month from the date hereof $450,000 Last day of the 48th month from the date hereof.

  • Interest on each scheduled Principal Amount of this Note due as of a given date specified on Schedule P&I hereto shall accrue at the related per annum rate specified on Schedule P&I from (and including) the Conversion Date to (but excluding) such Principal Due Date or, if applicable, to the applicable Interest Due Date on which an Optional Redemption (as defined below) occurs.

  • Prior to the Conversion Date, the aggregate amount of Advances under this Note for each specified Principal Due Date shall be the Principal Amount paid by the Borrower on such Principal Due Date (as assigned to such Advances by the Secretary's instructions to the Fiscal Agent in accordance with the Contract and the Fiscal Agency Agreement), except to the extent such Principal Amount shall have been reduced by redemption before such Principal Due Date as provided below.