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.
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).
Examples of Required Amortization Payment in a sentence
Required Amortization Payment FY 2012$3,413,517Total Employer Required Contribution FY 2012 (1 + 4)$3,937,483 The Tables provided in this Section present disclosure information necessary to comply with GASB requirements and are relevant for the annual financial reporting of the System.
From 1969 onward, a body called the National Development Council (NDC) — which used to be a part of the now defunct Planning Commission of India — recommended SCS status for 11 states: eight from the Northeast, Jammu and Kashmir, Himachal Pradesh, and Uttarakhand.
In addition to any other payments due under this Agreement, on the first Business Day of each month commencing April, 2010, Borrower shall pay to the Administrative Agent for the account of the applicable Lenders, as a principal reduction of the Term Loans, an amount equal to the applicable Term Loan Required Amortization Payment.
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On each Payment Date, Borrower shall pay to Agent, in addition to Interest then due, the applicable Required Amortization Payment.
More Definitions of Required Amortization Payment
Required Amortization Payment has the meaning set forth in Section 2.10(b) hereof.
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 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 with respect to each Payment Date during the Fixed Rate Period (if applicable), the monthly amount determined by Lender to be required to fully amortize the Loan over an amortization schedule of 25 years using the New Rate (as defined in Section 2.8).
Required Amortization Payment and “Required Amortization Payments” shall have the meanings set forth in Section 2.2(b).
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.
Required Amortization Payment means, with respect to a period, any mandatory reduction of the Fixed Asset Sublimit (other than Matching Amortization Payments).