Terminal Payment Date definition
Terminal Payment Date. As for any Eligible Asset, the date that is 90 days after the initial advance with respect to such Eligible Asset.
Examples of Terminal Payment Date in a sentence
The Borrowers shall repay on the Terminal Payment Date, the amount of Loan proceeds used to finance such Eligible Asset.
The Borrowers shall repay on (i) each Payment Date that occurs prior to the Terminal Payment Date, an amount sufficient to reduce the then-outstanding Advance Rate on such Eligible Asset by 5% (i.e., if an Eligible Asset had a 65% Advance Rate, the Loan attributable to such Eligible Asset would be repaid until the Advance Rate had been reduced to 60%) and (ii) the Terminal Payment Date, the amount of Loan proceeds used to finance such Eligible Asset less any amounts repaid under clause (i) hereof.