Examples of Amortization Payment Date in a sentence
The principal of the Term Loan shall be paid by the Authority in installments payable on each Amortization Payment Date (each such payment, an “Amortization Payment”), with the final installment in an amount equal to the entire then-outstanding principal amount of the Term Loan to be paid in full on the Amortization End Date (the period commencing on the Conversion Date and ending on the Amortization End Date is herein referred to as the “Amortization Period”).
The Amortization Payment so payable, and punctually paid or duly provided for, on any Amortization Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such Amortization Payment, which shall be July 1 (whether or not a business day), as the case may be, next preceding such Amortization Payment Date.
The principal of the Term Loan shall be paid by the Authority in installments payable on each Amortization Payment Date (each such payment, an “Amortization Payment"), with the final installment in an amount equal to the entire then-outstanding principal amount of the Term Loan to be paid in full on the Amortization End Date (the period commencing on the Conversion Date and ending on the Amortization End Date is herein referred to as the “Amortization Period’).
For example, a $1,000,000 Prepayment made six (6) months prior to an annual Amortization Payment Date shall be applied to reduce the annual Amortization Payment due on such date by $1,045,000 (i.e., the amount prepaid plus 9% interest per annum on such amount applied for such six (6) month period).
Interest on any overdue payment shall accrue at a rate of 9% per annum on the overdue amount from the applicable Amortization Payment Date to the date of actual payment.