Term Amortization definition

Term Amortization. A. Tranche A Term Facility: Six years from closing, with annual amortization, payable quarterly, as follows: Year 1 $15,000,000 7-1/2% Year 2 $25,000,000 12-1/2% Year 3 $35,000,000 17-1/2% Year 4 $35,000,000 17-1/2% Year 5 $45,000,000 22-1/2% Year 6 $45,000,000 22-1/2%
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Term Amortization means the amortization period the Issuer is deemed to have requested the Bank to extend on and subject to the terms and conditions described in Section 2.01(b).
Sample 1
Term Amortization. (A) and (B): The term of this loan shall be 10 years with an amortization of 10 years. Payment Schedule and Adjustments: Interest only shall be paid in advance for the month in which loan closing occurs followed by 119 principal and interest payments due and payable, in arrears, commencing on the first day of the second month following the date of loan closing and every succeeding month thereafter, with all unpaid principal and interest due on the 120th installment date. The amount of each payment during the first twelve (12) months of the term shall be a level amount calculated as if the Loan Amount was amortized over the Amortization Term at the Variable Rate in effect at loan closing ("Amortization Rate"). Payments received will be applied first to accrued interest and then to principal. Annually, on each anniversary of loan closing, the then outstanding principal balance will be compared with the principal balance of the loan as if amortized at the Amortization Rate. In the event the outstanding principal balance exceeds the principal balance of the loan if amortized at the Amortization Rate, BORROWER shall immediately pay the amount of such underpayment to GE CAPITAL, plus the amount of all accrued but unpaid interest. In the event the outstanding principal balance is less than the principal balance of the loan if amortized at the Amortization Rate, such overpayment will be applied to the outstanding principal balance. Additionally, the amount of each payment for the ensuing twelve (12) months will be calculated by amortizing the then outstanding principal balance at the then current Variable Rate over the remaining Amortization Term. In the event BORROWER exercises its option to fix the interest rate as provided above, a comparison of actual payments to Amortization Rate payments will be made similar to the annual adjustment described above, a corresponding balance adjustment will be made, and a revised payment amount and principal amortization schedule will be calculated and provided to BORROWER for the remaining term.
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Examples of Term Amortization in a sentence

  • On May 19, 2020, the Company granted 356,144 ordinary shares at a par value of CHF 0.08 to settle Incentive Plan 2014 awards which decreased share premium by CHF 28,492 and reduced treasury shares by a corresponding amount.

  • Beginning on the first day of the month following the Term Amortization Date, each Term Loan Payment shall be payable on the first day of each month.

  • Beginning on the first day of the month after the Term Loan is made, Borrower shall make interest-only payments on account of the Term Loan through the Term Amortization Date.

  • Interest Rate: % Margin: % Index: % Life Cap: % Type of Loan: Term: Amortization Type: Loan Amount $: Origination Fee: % Discount Points: % Expiration Date: / / By signing this lock agreement, PLUM TREE MORTGAGE will float or lock your interest rate according to the terms set in this agreement.

  • Make sure your loan has a Property Address, Purchase or Refinance Type, Rate Lock Period, Loan Originator is Paid By LP/BP, Loan PMI Type, Term, Amortization, & Product.

  • P a g e Field Label Amortization Term Amortization Type Borrower Qualifying FICO Coborrower Qualifying FICO Investor: Qualifying Total Debt Ratio Occupancy Original CLTV Original LTV Property Type Purpose Zip Total Qualifying Total Debt Ratio variances are the difference on the percentage of income dedicated toward making debt payments.

  • Fill in all Mortgage Information (i.e. Insured Mortgage Amount, Term, Amortization, Coverage Type, Monthly Mortgage Payment, etc).

  • The cost, less residual value, of the tangible capital assets is amortized on a straight-line basis over their estimated useful lives as follows: Land Improvements 7-25 yearsBuildings 10-45 yearsEngineering Structures 10-75 yearsMachinery and Equipment 3-50 yearsLeasehold Improvements Lease Term Amortization is not charged in the year of acquisitions.

  • Any reduction of the Commitments under this Section 2.8 shall be applied to Reduction Amounts and Term Amortization Amounts in the inverse order of the related Quarterly Payment Dates.

  • Any reduction of the Commitments under this Section shall be applied (a) in the case of any reduction of the Revolving Commitment, to the Revolving Reduction Amounts, (b) in the case of any reduction of the Term Commitments, to the Term Amortization Amounts, in each case in the inverse order of their occurrence.

Related to Term Amortization

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • REO Principal Amortization With respect to any REO Property, for any calendar month, the excess, if any, of (a) the aggregate of all amounts received in respect of such REO Property during such calendar month, whether in the form of rental income, sale proceeds (including, without limitation, that portion of the Termination Price paid in connection with a purchase of all of the Mortgage Loans and REO Properties pursuant to Section 9.01 that is allocable to such REO Property) or otherwise, net of any portion of such amounts (i) payable pursuant to Section 3.23(c) in respect of the proper operation, management and maintenance of such REO Property or (ii) payable or reimbursable to the Servicer pursuant to Section 3.23(d) for unpaid Servicing Fees in respect of the related Mortgage Loan and unreimbursed Servicing Advances and P&I Advances in respect of such REO Property or the related Mortgage Loan, over (b) the REO Imputed Interest in respect of such REO Property for such calendar month.

  • Amortization Date means the earliest to occur of (i) the Commitment Termination Date, (ii) the declaration or automatic occurrence of the Amortization Date pursuant to Section 7.03 and (iii) that Business Day which the Borrower designates as the Amortization Date by notice to the Administrative Agent at least five (5) Business Days prior to such Business Day.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2009-VFN Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Managed Amortization Period means the period from the Closing Date to the Rapid Amortization Commencement Date.

  • Amortization means the gradual extinguishment of an amount in an account by distributing such amount over a fixed period, over the life of the asset or liability to which it applies, or over the period during which it is anticipated the benefit will be realized.

  • Amortization Period means, with respect to any Series, or any Class within a Series, a period following the Revolving Period during which principal is distributed to Investor Certificateholders, which shall be the controlled amortization period, the principal amortization period, the rapid amortization period, or other amortization period, in each case as defined with respect to such Series in the related Supplement.

  • Amortization rate means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's reemployed position were deemed to be an eligible, full-time position within that system.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Early Amortization Event means the occurrence of any of the following:

  • Depreciation and Amortization means the depreciation and amortization accruing during any period of determination with respect to a Person, as determined in accordance with GAAP.

  • Consolidated Amortization Expense means, for any period, the amortization expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Expected Amortization Schedule means, with respect to any Tranche, the expected amortization schedule related thereto set forth in the Series Supplement.

  • Amortization Schedule means, with respect to each Equipment Note, the amortization schedule for such Equipment Note delivered pursuant to Section 2.02 of the Trust Indenture.

  • Potential Amortization Event means an event which, with the passage of time or the giving of notice, or both, would constitute an Amortization Event.

  • Amortization Commencement Date means the date on which an Amortization Event is deemed to occur pursuant to Section 20 hereof.

  • Prepayment Premium Period means the period during which, if a prepayment of principal occurs, a prepayment premium will be payable by Borrower to Lender. The Prepayment Premium Period is the period from and including the date of this Note until but not including the first day of the Window Period.

  • Amortisation Yield means the rate per annum (expressed as a percentage) used to calculate the Amortised Nominal Amount of a Zero Coupon Note, in accordance with the provisions of Condition 7.5.1.

  • Amortization Event has the meaning specified in Article IX.

  • Initial Term Loan Repayment Amount shall have the meaning provided in Section 2.5(b).