Required Amortization Payment definition

Required Amortization Payment means, on each Quarterly Payment Date, an amount equal to percentage amount specified in Schedule 1.01 of the aggregate principal balance of the Loans as of the Date Certain; provided, that for purposes of computing the Required Amortization Payment, the aggregate principal balance of the Loans shall be deemed to be reduced by the amount of any prepayment of Loans made in accordance with Section 3.08(a)(i)(A) (Mandatory Prepayment – Insurance Proceeds, Condemnation Proceeds or Extraordinary Proceeds), Section 3.08(b) (Mandatory Prepayment – Restricted Payment Account) and Section 3.12 (System Severance).

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Required Amortization Payment means an amount, as determined by Administrative Agent, equal to the monthly principal payments required to fully amortize a hypothetical loan in the amount of the outstanding principal amount of the Loan as of the Initial Maturity Date over a period of thirty (30) years at an assumed interest rate equal to six percent (6.00%) per annum. Notwithstanding the foregoing, and in accordance with the extension conditions set forth in Exhibit “I” of this Agreement, should the Property achieve (a) an Ongoing Debt Service Coverage Ratio of at least 1.35:1.00, and (b) a Loan-to-Value Ratio of less than or equal to sixty percent (60%), then Borrower shall not be required to pay the monthly installments of principal required under the preceding sentence. In the event the required Ongoing Debt Service Coverage Ratio or the required Loan-to-Value Ratio is not met, Borrower may satisfy such requirements on or prior to the extension date by making a voluntary paydown of the Loan, without prepayment fees or premiums other than the payment of any Consequential Loss under Section 2.5 of this Agreement, together with a mutually agreed-upon reduction in the committed amount of the Loan.

Required Amortization Payment means a payment of principal on the related Company Subsidiary Loan as specified in the Note.

Examples of Required Amortization Payment in a sentence

Any individual Tranche D Bank may waive application of its pro rata share of the Required Amortization Payment to the Tranche D Loan by notifying the Administrative Agent at least thirty (30) days prior to the date of such Required Amortization Payment, in which event, any such payment shall be applied by the Administrative Agent to prepayment, pro rata, of amounts outstanding under the Tranche C Loan.
The Borrower unconditionally and irrevocably promises to pay to the Lender (i) on July 1, 2014, and (ii) on each Quarterly Payment Date thereafter, the portion of the outstanding principal amount of the Loans equal to the Required Amortization Payment and as otherwise provided in the Accounts Agreement.
Borrower shall make principal repayments of the Loan, each in an amount equal to the Required Amortization Payment, on January 1, 2022, and on the first day of each succeeding calendar month thereafter until all principal owing on the Loan shall have been fully paid and satisfied.
In addition to the monthly payments of interest required pursuant to the immediately preceding sentence, if the Borrower’s Fixed Rate Option has been exercised and the Stated Maturity Date has been extended to the Fixed Rate Extended Maturity Date pursuant to Section 2.8, then commencing as of the first Payment Date after the Conversion Date, and on each Payment Date thereafter throughout the Term, Borrower shall pay to Lender the Required Amortization Payment.
For the avoidance of doubt, the Required Amortization Payment shall be applied to the principal repayment installments with respect to the Term Facility under Section 2.07(a) of the Credit Agreement in direct order of maturity.

More Definitions of Required Amortization Payment

Required Amortization Payment means, with respect to a period, any mandatory reduction of the Fixed Asset Sublimit (other than Matching Amortization Payments).

Required Amortization Payment means, initially, an amount equal to One Hundred Ten Thousand and No/100 Dollars ($110,000.00). In the event Borrower shall repay any principal of the Loan in connection with (i) any release pursuant to Section 9.29 of this Agreement or (ii) the satisfaction of the covenants set forth in Section 4.22 of this Agreement, the amount of the Required Amortization Payment shall be reset to equal an amount sufficient to fully amortize the then-outstanding principal amount of the Loan at an assumed interest rate equal to six percent (6.0%) per annum over a period of time equal to (A) thirty (30) years less (B) the number of months which shall have elapsed from September 1, 2020 to the date upon which any such repayment is made.

Required Amortization Payment has the meaning set forth in Section 2.10(b) hereof.

Required Amortization Payment shall have the meaning specified in Article 5(j).

Required Amortization Payment means an amount sufficient to fully amortize the then-outstanding principal amount of the Loan at an assumed interest rate equal to six percent (6.0%) per annum over a period of time equal to thirty (30) years.

Required Amortization Payment has the meaning set forth in Section ----------------------------- 2.10

Required Amortization Payment means an amount, as determined by Administrative Agent, equal to the monthly principal payment required to fully amortize the outstanding principal of the Loan as of February 1, 2017 over a period of thirty (30) years at an assumed interest rate equal to six and one-half percent (6.50%) per annum. In the event Borrower shall repay any principal of the Loan in connection with (i) the release of any Release Pad pursuant to Section 9.29 of this Agreement, (ii) the satisfaction of the covenants set forth in Section 4.22 of this Agreement, or (iii) the satisfaction of the conditions to the extension of the maturity of the Loan set forth in Paragraphs 7 or 8 of Exhibit “I” of this Agreement, the amount of the Required Amortization Payment shall be reset to equal an amount sufficient to fully amortize the then-outstanding principal amount of the Loan at an assumed interest rate equal to six and one-half percent (6.50%) per annum over a period of time equal to (A) thirty (30) years less (B) the number of months which shall have elapsed from February 1, 2017 to the date upon which any such repayment is made.