Monthly Debt Service Payment Sample Clauses

Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only for the period commencing on and including the date of the funding of the Loan through and including September 30, 2020. Beginning on October 1, 2020 (the “First Payment Date”) and each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender of principal (if any) and interest in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied to accrued and unpaid interest.
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Monthly Debt Service Payment. Borrower shall pay to Lender (a) on the date hereof, an amount equal to interest only on the Outstanding Principal Balance for the period commencing on the Closing Date up to but not including the first Payment Date following the Closing Date (unless the Closing Date is the eleventh (11th) day of the month, in which case no such interest only payment shall be due), which amount shall be applied on the first Payment Date to interest which shall have accrued on the Outstanding Principal Balance during such period and (b) on each Payment Date thereafter up to and including the Maturity Date, Borrower shall make a payment to Lender of principal and interest in an amount equal to the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.
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Monthly Debt Service Payment. From and after the Advance, and on each and every Interest Payment Date thereafter until the Debt has been paid in full, the Borrower shall pay interest in arrears at the Applicable Interest Rate on the outstanding principal balance of the Loan as computed in accordance with Section 2.2.2 hereof (the "Monthly Debt Service Payment").
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Monthly Debt Service Payment. Interest only shall be payable in monthly installments beginning on October 1, 2016 and continuing thereafter on each Payment Date (the “Monthly Debt Service Payment Amount”).
Sample 1
Monthly Debt Service Payment. On the Closing Date, Borrower shall make a payment of interest only equal to one (1) day’s interest in respect of the Closing Date. On April 7, 2017 (the “First Payment Date”) and each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Agent for ratable benefit of Lender of interest on the Outstanding Principal Balance for the Interest Period that immediately precedes such Payment Date (the “Monthly Debt Service Payment Amount”). Agent shall have the right from time to time, in its sole discretion, upon not less than ten (10) days prior written notice to Borrower, to change (a) the Payment Date to a different calendar day, provided that such day shall be between the seventh (7th) day of each calendar month and the fifteenth (15th) day of each calendar month, and/or (b) the calendar days upon which the Interest Period shall commence (in a particular calendar month; provided that such day shall in all events be the same day of the calendar month as the Payment Date) and end (in the immediately succeeding calendar month; provided that such day shall in all events be the day of the calendar month immediately prior to the Payment Date), with a corresponding change in the Interest Determination Date and, if requested by Agent, Borrower shall promptly execute an amendment to this Agreement to evidence all such changes, but the failure of Borrower to exercise such amendment shall not affect the effectiveness of any change for which Agent has so notified Borrower. Notwithstanding anything to the contrary contained herein, no change in the Payment Date and/or the Interest Period as herein provided shall result in the Payment Date and/or Interest Period not being on the same dates as the “Payment Date” and “Interest Period” under the Senior Loan or the Mezzanine Loan, as such terms are defined in the Senior Loan Agreement and the Mezzanine Loan Agreement, respectively.
Sample 1
Monthly Debt Service Payment. (a) On the Closing Date, Borrower shall make a payment of interest only for the period commencing on and including the Closing Date. On June 9, 2017 (the “First Payment Date”) and each subsequent Payment Date up to and including the Maturity Date, Borrower shall make a payment to Lender of interest on the Outstanding Principal Balance for the Interest Period that immediately precedes such Payment Date (the “Monthly Debt Service Payment Amount”). Lender shall have the right from time to time, in its sole discretion, upon not less than thirty (30) days prior written notice to Borrower, to change (a) the Payment Date to a different calendar day and/or (b) the calendar days upon which the Interest Period shall commence (in a particular calendar month) and end (in the immediately succeeding calendar month), with a corresponding change in the Interest Determination Date and, if requested by Lender, Borrower shall promptly execute an amendment to this Agreement to evidence all such changes, but the failure of Borrower to exercise such amendment shall not affect the effectiveness of any change for which Lender has so notified Borrower.
Sample 1
Monthly Debt Service Payment 
Sample 1
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Related to Monthly Debt Service Payment

  • Monthly Debt Service Payments Borrower shall pay to Lender (a) on the Closing Date, an amount equal to interest only on the outstanding principal balance of the Loan for the initial Accrual Period and (b) on September 1, 2010, and on each Payment Date thereafter up to and including the Maturity Date, the Monthly Debt Service Payment Amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.

  • Debt Service The provisions of this Section 3.9 regarding disbursements shall include the payment of debt service related to any mortgages of the Property, unless otherwise instructed in writing by Owner.

  • Debt Service Reserve Reserved.

  • Debt Service Reserve Account The Debt Service Reserve Account shall have been funded (or credited with funds), to the extent required, in an amount equal to the Debt Service Reserve Required Amount in accordance with the Depositary Agreement.

  • Debt Service Ratio In the event that the amount of Borrower's unrestricted cash maintained at Bank is less than $1,200,000.00, a ratio of (i) net income plus interest, depreciation, amortization, unfunded capital expenditures, and cash taxes paid, calculated based on the three (3) month period ending as of the date tested, to (ii) principal and interest expense with respect to the Obligations, calculated based on the three (3) month period ending as of the date tested, of greater than 1.25 to 1.0."

  • Debt Service Coverage Ratio Not permit the Debt Service Coverage Ratio on the last day of each Fiscal Quarter to be less than 3.50 to 1.00.

  • Minimum Debt Service Coverage Ratio As of the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2021, the Borrowers shall not permit the Debt Service Coverage Ratio, determined on a consolidated basis for the Consolidated Parties, to be less than 2.00 to 1.00.

  • Interest Expense Coverage Ratio The Borrower will not permit the ratio of (i) Consolidated EBITDA to (ii) Consolidated Cash Interest Expense for any period of four consecutive fiscal quarters to be less than 3.75 to 1.00.

  • Consolidated Debt Service Coverage Ratio Permit the Consolidated Debt Service Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.25:1.00.

  • Lease Payments No Borrower will, or will permit any Subsidiary to, directly or indirectly, incur or assume (whether pursuant to a Guarantee or otherwise) any liability for rental payments except in the Ordinary Course of Business.

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