Prepayment of Lease Payments Sample Clauses

Prepayment of Lease Payments. The Company shall have and is granted the option to prepay from time to time the amounts payable under this Lease Agreement in sums sufficient to redeem or to pay or cause to be paid all or part of the Bonds in accordance with the provisions of the Bond Indenture. Upon written notice and direction by the Company to the Issuer to redeem Bonds subject to optional redemption under the Bond Indenture, the Issuer shall forthwith take or cause to be taken all steps (other than the payment of the money required for such redemption) necessary under the applicable redemption provisions of the Bond Indenture to effect redemption of all or part of the then Outstanding Bonds, as may be specified by the Company, on the date established for such redemption. Whenever any Bonds shall have been called for optional redemption under any provision of the Bond Indenture, the Company shall deposit with the Bond Trustee moneys in such amounts required and at such times to redeem such Bonds, including the principal, redemption premium, if any, and accrued interest thereon to the redemption date. The Company further agrees that in the event the payment of principal of and interest on the Bonds is accelerated upon the occurrence of an Event of Default under the Bond Indenture, all Lease Payments payable for the remainder of the term of this Lease Agreement shall be accelerated and prepayment shall be made hereunder in such amounts. Any such prepayments shall be deposited in the Debt Service Fund, and applied by the Bond Trustee in accordance with the provisions of the Bond Indenture. The Company may also prepay all or any portion of the Lease Payments by providing for the payment of all or any portion of the Bonds in accordance with Article X of the Bond Indenture.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Prepayment of Lease Payments. Section 9.1. Security Deposit 24 Section 9.2. Optional Prepayment 24 Section 9.3. Mandatory Prepayment From Net Proceeds of Insurance or Eminent Domain 24 ARTICLE X MISCELLANEOUS Section 10.1. Notices 25 Section 10.2. Binding Effect 25 Section 10.3. Severability 25 Section 10.4. Net-net-net Lease 25 Section 10.5. Further Assurances and Corrective Instruments 25 Section 10.6. Execution in Counterparts. 26 Section 10.7. Applicable Law 26 Section 10.8. Corporation and County Representatives 26 Section 10.9. Captions 26 EXHIBIT A DESCRIPTION OF LEASED PROPERTY ....................................................................... A-1 EXHIBIT B SCHEDULE OF LEASE PAYMENTS ............................................................................... B-1 LEASE AGREEMENT This Lease Agreement (the “Lease” or “Lease Agreement”), dated as of April 1, 2014, is by and between the NAPA COUNTY PUBLIC IMPROVEMENT CORPORATION, a nonprofit public benefit corporation duly organized and existing under the laws of the State of California, as sublessor (the “Corporation”), and NAPA COUNTY, a county duly organized and existing under the laws of the State of California, as sublessee (the “County”);
Sample 1
Prepayment of Lease Payments. Section 10.1. Security Deposit 27 Section 10.2. Extraordinary Prepayment From Net Proceeds 27
Sample 1
Prepayment of Lease Payments. At any time during the term hereof, the Lessee shall have the right, but not the obligation, to prepay all or any portion of the future Lease Payments due hereunder, by delivering to the Trustee the amount of the prepayment and in the event such payments are in full satisfaction of all future Lease Payments hereunder, by delivering to the Trustee the "Balance Due
Sample 1
Prepayment of Lease Payments. Section 10.1. Security Deposit 26 Section 10.2. Extraordinary Prepayment From Net Proceeds 27 Section 10.3. Prepayment 27 Section 10.4. Credit for Amounts on Deposit 27 Section 10.5. Effect of Prepayment 27 Table of Contents (continued) Page
Sample 1
Prepayment of Lease Payments. At any time during the term hereof, the Lessee shall have the right, but not the obligation, to prepay all or any portion of the future Lease Payments due hereunder, by delivering to the Trustee the amount of the prepayment and in the event such payments are in full satisfaction of all future Lease Payments hereunder, by delivering to the Trustee the "Balance Due Lessor". "Balance Due Lessor" shall be calculated as of the date that the amount of Lease Payments to be prepaid hereunder will be applied to pay the Bonds, as follows:
Sample 1
AutoNDA by SimpleDocs
Prepayment of Lease Payments 
Sample 1Sample 2Sample 3See All (14)

Related to Prepayment of Lease Payments

  • 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.

  • Prepayment Premiums As of the applicable date of origination of each such Mortgage Loan, any prepayment premiums and yield maintenance charges payable under the terms of the Mortgage Loans, in respect of voluntary prepayments, constituted customary prepayment premiums and yield maintenance charges for commercial mortgage loans.

  • Prepayment Fees Borrower agrees to pay to each [New Term Loan Lender] the following prepayment fees, if any: [ ]. [Insert other additional prepayment provisions with respect to New Term Loans]

  • Prepayment Charges The Master Servicer will not waive any part of any Prepayment Charge unless the waiver relates to a default or a reasonably foreseeable default, the Prepayment Charge would cause an undue hardship to the related borrower, the Mortgaged Property is sold by the Mortgagor, the collection of any Prepayment Charge would violate any relevant law or regulation or the waiving of the Prepayment Charge would otherwise benefit the Trust Fund and it is expected that the waiver would maximize recovery of total proceeds taking into account the value of the Prepayment Charge and related Mortgage Loan and doing so is standard and customary in servicing similar Mortgage Loans (including any waiver of a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is related to a default or a reasonably foreseeable default). The Master Servicer will not waive a Prepayment Charge in connection with a refinancing of a Mortgage Loan that is not related to a default or a reasonably foreseeable default.

  • Interest Loan Payments Late Payment Charge 49 2.2.1 Payments. 49 2.2.2 Interest Calculation. 51

  • Prepayment Premium Borrower will be required to pay a prepayment premium in connection with certain prepayments of the Indebtedness, including a payment made after Lender’s exercise of any right of acceleration of the Indebtedness, as provided in the Note.

  • Prepayment of Rents Borrower will not receive or accept Rent under any Lease (whether a residential Lease or a Non-Residential Lease) for more than 2 months in advance.

  • Loan Charges Neither this Note nor any of the other Loan Documents shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate greater than the Maximum Interest Rate. If any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower in connection with the Loan is interpreted so that any interest or other charge provided for in any Loan Document, whether considered separately or together with other charges provided for in any other Loan Document, violates that law, and Xxxxxxxx is entitled to the benefit of that law, that interest or charge is hereby reduced to the extent necessary to eliminate that violation. The amounts, if any, previously paid to Lender in excess of the permitted amounts shall be applied by Lender to reduce the unpaid principal balance of this Note. For the purpose of determining whether any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower has been violated, all Indebtedness that constitutes interest, as well as all other charges made in connection with the Indebtedness that constitute interest, shall be deemed to be allocated and spread ratably over the stated term of this Note. Unless otherwise required by applicable law, such allocation and spreading shall be effected in such a manner that the rate of interest so computed is uniform throughout the stated term of this Note.

  • Payment of Leasehold Obligations Each Borrower shall at all times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request will provide evidence of having done so.

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