Interest and Principal Payment Dates Sample Clauses

Interest and Principal Payment Dates. Interest on LIBOR Rate Loans shall be due and payable on the last day of each LIBOR Interest Period for those Loans and on the Expiration Date or upon acceleration of the Notes. Interest on LIBOR Advantage Rate Loans shall be due and payable on each LA Interest Payment Date and on the Expiration Date or upon acceleration of the Notes. Interest on Base Rate Loans shall be due and payable in arrears on the first day of each calendar month after the date hereof and on the Expiration Date or upon acceleration of the Notes. Interest on the principal amount of each Loan or other monetary Obligation shall be due and payable on demand after such principal amount or other monetary Obligation becomes due and payable (whether on the stated maturity date, upon acceleration or otherwise). If not sooner paid, the Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.
Sample 1
AutoNDA by SimpleDocs
Interest and Principal Payment Dates. 15 4.3 Prepayments...........................................................................................................16
Sample 1
Interest and Principal Payment Dates. Interest on the Loans shall be due and payable on the applicable Interest Payment Date and on the Expiration Date or upon acceleration of the Notes. Interest on the principal amount of each Loan or other monetary Obligation shall be due and payable on demand after such principal amount or other monetary Obligation becomes due and payable (whether on the stated maturity date, upon acceleration or otherwise). If not sooner paid, the Borrower shall repay the Revolving Credit Loans together with all outstanding interest thereon on the Expiration Date.
Sample 1
Interest and Principal Payment Dates. Interest on Loans to which the Base Rate Option applies shall be due and payable in arrears on the third Business Day following the end of each fiscal quarter of the Borrower (for purposes of this Section 4.2, a “Payment Date”). Interest on Loans to which the LIBOR Rate Option applies shall be due and payable on the last day of each Interest Period for those Loans. Interest on the principal amount of each Loan or other monetary Obligation shall be due and payable on demand after such principal amount or other monetary Obligation becomes due and payable (whether on the stated Expiration Date, upon acceleration or otherwise). Principal of Loans shall be due in installments as follows: (i) $3,000,000 per annum, in quarterly installments of $750,000 on each quarterly Payment Date until the outstanding principal amount due under the Loans has been reduced to $25,000,000 and the Total Gross Leverage Ratio calculated on such quarterly Payment Date for the four (4) immediately preceding fiscal quarters of the Borrower is not more that 2.5 to 1.00. The Borrowers may make any of the preceding installment payments in advance of the applicable Payment Date. Once paid, such principal amounts shall not be available for re-borrowing and shall reduce the Revolving Credit Commitment on a dollar-for-dollar basis.
Sample 1
Interest and Principal Payment Dates. Interest on Loans to which the Base Rate Option applies shall be due and payable in arrears on the first Business Day of each calendar month (for purposes of this Section 5.2, a “Payment Date”). Interest on Loans to which the LIBOR Rate Option applies shall be due and payable on the last day of each Interest Period for those Loans. Interest on the principal amount of each Loan or other monetary Obligation shall be due and payable on demand after such principal amount or other monetary Obligation becomes due and payable (whether on the stated Expiration Date, upon acceleration or otherwise). Principal of Loans shall be due in installments as follows: (i) on the 1st anniversary of the Closing Date, $10,000,000; (ii) from the 1st anniversary of the Closing Date to the day immediately preceding the 2nd anniversary of the Closing Date, $2,500,000 in quarterly installments on each quarterly Payment Date occurring in such time period (for a total of $10,000,000 for such annual period); (iii) from the 2nd anniversary of the Closing Date to the day immediately preceding the 3rd anniversary of the Closing Date, $3,750,000 in quarterly installments on each quarterly Payment Date occurring in such time period (for a total of $15,000,000 for such annual period); and (iv) from the 3rd anniversary of the Closing Date to the Expiration Date, $3,750,000 in quarterly installments on each quarterly Payment Date occurring in such time period (for a total of $15,000,000 for such annual period). The Borrowers may make any of the preceding installment payments in advance of the applicable Payment Date. Once paid, such principal amounts shall not be available for re-borrowing and shall reduce the Revolving Credit Commitment on a dollar-for-dollar basis.
Sample 1

Related to Interest and Principal Payment Dates

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:

  • Interest and Principal The Notes will mature on July 1, 2022 and will bear interest at the rate of 4.625% per annum. The Issuers will pay interest on the Notes on each January 1 and July 1 (each an “Interest Payment Date”), beginning on January 1, 2016, to the Holders of record on the immediately preceding December 15 or June 15 (each a “Record Date”), respectively. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.

  • Repayment of Interest and Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payment of Interest and Principal The principal of and interest on this Revolving Credit Note shall be due and payable as provided in the Loan Agreement. Subject to the terms of the Loan Agreement, the principal and interest due hereunder shall be evidenced by the Administrative Agent’s and the Lender’s records which, absent manifest error, shall be conclusive evidence of the computation of principal and interest balances owed by the Borrowers to the Lender.

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

  • Scheduled Principal Payments The Borrower shall make payments of principal to Holder as follows: (i) on the first anniversary of this Note, the sum of $279,500, which represents 10% of original principal amount of this Note, (ii) on the second anniversary of this Note, the sum of $1,118,000, which represents 40% of original principal amount of this Note, and (iii) on May 18, 2010 (the “Maturity Date”), a final payment of the sum of the outstanding principal balance of this Note, including the amount of any PIK Interest, together with accrued and unpaid interest thereon, and all other obligations and indebtedness owing hereunder, if not sooner paid.

  • Payments of Interest and Principal (a) Any installment of interest or principal, if any, payable on any Class A(2017-5) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2017-5) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee.

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Interest and Interest Payment Dates In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion of the Revolving Loans be charged (whether at the time when made (unless otherwise provided herein), upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Period applicable thereto; provided, that subject to the following clauses (ii) and (iii), in the case of any Interest Period greater than three months in duration, interest shall be payable at three month intervals after the commencement of the applicable Interest Period and on the last day of such Interest Period), (ii) the date on which all or any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Borrowers have properly exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, at the written election of Agent or the Required Lenders, Borrowers no longer shall have the option to request that Revolving Loans bear interest at a rate based upon the LIBOR Rate.

Time is Money Join Law Insider Premium to draft better contracts faster.