Accelerated Amortization Sample Clauses

Accelerated Amortization. In the event that the Obligations under the New Senior Credit Agreement are paid in full prior to October 1, 2008, then the DTI shall receive five hundred thousand pounds ((pound)500,000) on each June 30 and December 31 from the date such Obligations are paid in full through and including June 30, 2008.
Sample 1
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Accelerated Amortization. Notwithstanding the provisions of Section 2.4.1, in the event that at any time Borrower’s long term senior unsecured non credit enhanced debt is rated less than BBB- by S&P or Baa3 by Xxxxx’x, then Borrower shall repay to Administrative Agent, for the account of the Lenders, the principal of the Loan on or prior to the following dates in the following aggregate principal amounts, in each case together with all interest accrued on the repaid amount, and all fees and costs due and payable on such date. For the avoidance of doubt, in the event that such rating is thereafter increased to at least BBB- by S&P and Baa3 by Xxxxx’x, then the amortization schedule shall revert to that shown in Section 2.4.1 (without effect on any principal amounts already paid). January 5, 2004 $20,000,000 March 31, 2004 $10,000,000 Maturity Date $ 7,500,000 or, if different, remaining principal balance of Loan
Sample 1
Accelerated Amortization. (a) Subject to clause 7.11(c), the Borrower shall, in addition to the Repayment Instalments and the Reserve Amount, make additional repayments of the Loan on the Repayment Dates commencing in December 2016 and on the following four (4) consecutive Repayment Dates (the “Accelerated Amortization Period”) in an amount of $1,000,000, making a total of $5,000,000 (such total amount being hereinafter referred to as the “Accelerated Amortization Amount”). (b) Subject to clause 7.11(d), the Facility Agent shall apply an amount equal to the Accelerated Amortization Amount on the Repayment Date falling in March 2018 in reduction of the Repayment Instalments falling due on and after that Repayment Date pro rata. (c) If the Facility Agent serves a notice on the Borrower under clause 23.1 (Minimum required security cover) at any time during the Accelerated Amortization Period and the Borrower prepays part of the loan in accordance with clause 23.2(a), then if the amount so prepaid is less than the amount or the aggregate of the amounts (as the case may be) that remain to be paid by the Borrower under clause 7.11(a) (the “Remaining Accelerated Amortization Amount”), then each Remaining Accelerated Amortization Amount shall be reduced pro rata by an amount equal to the product of the following: B where: A = the amount or aggregate of the amounts (as the case may be) prepaid by the Borrower under clause 23.2(a); and B = the amount of the Remaining Accelerated Amortization Amount ignoring the reduction of such amount pursuant to this clause 7.11(c). However, if the amount or aggregate of the amounts (as the case may be) prepaid under clause 23.2(a) at any time is greater than the Remaining Accelerated Amortization Amount at that time, then the Borrower will not be obliged to make any further prepayments of the Loan pursuant to clause 7.11(a). (d) If the amount or the aggregate of the amounts (as the case may be) prepaid under clause 23.2(a) is greater than the Remaining Accelerated Amortization Amount at any particular time, then the amount or the aggregate of the amounts (as the case may be) so prepaid, together with all amounts paid on or prior to such time by the Borrower pursuant to clause 7.11(a), shall be applied in reduction of the Repayment Installments falling due on each Repayment Date falling on or after such time pro rata. (c) Clause 11.2(c) shall be amended by inserting the following after the reference to clause 7.5 (Senior Secured Notes), in the second line:...
Sample 1
Accelerated Amortization. Notwithstanding anything to the contrary contained herein or in any of the Loan Documents: (a) Commencing with the first (1st) day of the thirteenth (13th) Loan Year (the “Accelerated Payment Date”), the Contract Rate shall increase to the greater of (i) the Contract Rate plus 200 basis points, or (ii) the U.S. Treasury Rate (as defined below) plus 200 basis points (the “Adjusted Contract Rate”). The “U.S. Treasury Rate” is the yield calculated by linear interpolation (rounded to one-thousandths of one percent [i.e., .001%] of the yields, as reported in Federal Reserve Statistical Release H.15-Selected Interest Rates under the heading U.S. Government Securities/ Treasury Constant Maturities for the week ending prior to the Accelerated Payment Date, of the U.S. Treasury constant maturities with terms (one longer and one shorter) most nearly approximately the remaining term of the Loan as of the Accelerated Payment Date. In the event Release H.15 is no longer published, Lender shall select a comparable publication to determine the U.S. Treasury Rate. (b) From and after the date that is ninety (90) days prior to the Accelerated Payment Date, upon not less than thirty (30) days’ prior written notice, Borrower may prepay the Loan in whole but not in part on any regularly scheduled payment date without penalty, premium or payment of the Yield Maintenance Amount. (c) From and after the Accelerated Payment Date, interest shall accrue on the unpaid principal balance of the Loan at the Adjusted Contract Rate, but shall continue to be payable at the original Contract Rate and the additional interest attributable to the Adjusted Contract Rate shall be deferred and added to the unpaid principal balance of the Loan as of the first day of each month. To the extent permitted by applicable law, such deferred and capitalized interest shall earn interest at the Adjusted Contract Rate. (d) One (1) month prior to the Accelerated Payment Date, Borrower shall establish a lock box account (the “Lock Box”) satisfactory to Lender in its sole discretion pursuant to which all rents and other income (including prepaid rents, if any) from the Project from and after the Accelerated Payment Date shall be deposited. Borrower shall pay Lender’s costs and expenses in connection with establishing and administering the Lock Box. (e) Three (3) months prior to the Accelerated Payment Date, Borrower shall submit an annual operating statement and budget to Lender for its review and approval, whic...
Sample 1
Accelerated Amortization. Neither the accelerated amortization of amounts due to the Noteholders under the Note Purchase Agreement (as amended pursuant to the First Amendment to Note Purchase Agreement), nor the payment of any such accelerated amortization or of the Deferred Cure Payment to the Noteholders pursuant to the provisions hereof shall give rise to any Additional Amounts, "Make-Whole Amounts" (as defined in Annex I to the Note Purchase Agreement), "Breakage Costs" (as defined in Annex I to the Note Purchase Agreement) or any other prepayment penalty, yield maintenance payment or any other obligation of any type or nature, and the Note Purchase Agreement and any other applicable Xxxxxxx/State Street Loan Documents shall be amended as provided in the First Amendment to Note Purchase Agreement; provided, however, that the Noteholders expressly retain the right to such amounts and costs arising from other optional prepayments or accelerations under the Note Purchase Agreement. Notwithstanding the accelerated amortization of amounts due to the Noteholders under the Note Purchase Agreement (as modified pursuant to the First Amendment to Note Purchase Agreement) or any other provision herein, none of Gaming's or Bazaar's respective obligations to pay Debt Service Amounts under the ESA or the Bazaar ESA (respectively) shall be reduced, modified or otherwise affected in any way or to any extent. Notwithstanding any such accelerated amortization of amounts due to the Xxxxxxx Entities under the Note Purchase Agreement (as modified pursuant to the First Amendment to Note Purchase Agreement), each of Gaming and Bazaar shall continue to be obligated to pay to Northwind their full respective payments of Debt Service Amounts as set forth in SCHEDULE 6.1 to this Agreement and Schedule 2 to the Fourth Amendment to ESA, which Debt Service Amounts owed by Gaming and Bazaar shall not be reduced, modified or otherwise affected in any way or to any extent by virtue of such accelerated amortization. In addition, notwithstanding any provision of the ESA or the Bazaar ESA, the accelerated amortization of amounts due to the Noteholders under the Note Purchase Agreement (as modified pursuant to the First Amendment to Note Purchase Agreement) shall not in any way reduce the amount required to be paid by either Gaming or Bazaar in the event that either Gaming or Bazaar (or any future assignee of or successor-in-interest to either Gaming or Bazaar) elects to exercise the purchase option with respect to...
Sample 1

Related to Accelerated Amortization

  • Early Amortization Events In addition to the events identified as Early Amortization Events in Article XII of the Indenture, the occurrence of any of the following events (each, an “Early Amortization Event”) shall result in an early amortization event for the Series [•] Notes: (a) if the Quarterly Excess Spread Percentage is less than the Required Excess Spread Percentage; or (b) a failure by Transferor under the Transfer Agreement to convey Receivables in Additional Accounts within five Business Days after the day on which it is required to convey such Receivables pursuant to Section 2.11(a) of the Transfer Agreement or, if applicable, Section 2.15(c) of the Transfer Agreement; or (c) if any Servicer Default occurs which would have a material adverse effect on the Series [•] Noteholders; or (d) the failure to pay the Notes in full on the Expected Final Payment Date; or (e) the occurrence of an Event of Default and acceleration of the Series [•] Notes pursuant to Article VII of the Indenture; or (f) (i) failure on the part of Transferor to make any payment or deposit required to be made by it by the terms of the Transfer Agreement on or before the date occurring five Business Days after the date such payment or deposit is required to be made therein or (ii) failure of the Transferor duly to observe or perform in any material respect any of its covenants or agreements set forth in the Transfer Agreement, which failure has a material adverse effect on the Series [•] Noteholders and which continues unremedied for a period of sixty days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor by the Indenture Trustee, or to the Transferor and the Indenture Trustee by any Noteholder of the Series [•] Notes; or (g) any representation or warranty made by Transferor in the Transfer Agreement or any information contained in an account schedule required to be delivered by it pursuant to the Transfer Agreement shall prove to have been incorrect in any material respect when made or when delivered, which continues to be incorrect in any material respect for a period of sixty days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Transferor by the Indenture Trustee, or to the Transferor and the Indenture Trustee by any Noteholder of the Series [•] Notes and as a result of which the interests of the Series [•] Noteholders are materially and adversely affected for such period; provided, however, that an Early Amortization Event pursuant to this Section 5.01(g) shall not be deemed to have occurred hereunder if the Transferor has accepted reassignment of the related Receivable, or all of such Receivables, if applicable, during such period in accordance with the provisions of the Transfer Agreement. In the case of any event described in Sections 5.01(a), (b), (d), or (e), an Early Amortization Event shall occur without any notice or other action on the part of the Indenture Trustee or the Noteholders immediately upon the occurrence of such event. In the case of any event described in Sections 5.01(c), (f) or (g), after the applicable grace period, if any, set forth in such subparagraphs, either the Indenture Trustee or the holders of Series [•] Notes evidencing more than 50% of the aggregate unpaid principal amount of Series [•] Notes by notice then given in writing to the Issuer (and to the Indenture Trustee if given by the Series [•] Noteholders) may declare that an Early Amortization Event has occurred with respect to the Series [•] Notes as of the date of such notice.

  • Rapid Amortization Events If any one of the following events occurs during the Managed Amortization Period: (a) The failure of the Sponsor or the Master Servicer to make any payment or deposit required by the Sale and Servicing Agreement within three Business Days after the payment or deposit was required to be made; (b) The failure of the Sponsor or the Master Servicer to cause the Depositor to observe or perform in any material respect the covenants of the Depositor in Section 2.01(h) or 2.05 of the Sale and Servicing Agreement.; (c) The failure of the Sponsor to observe or perform in any material respect any other covenants of the Sponsor in the Sale and Servicing Agreement that materially and adversely affects the interests of the Noteholders or the Credit Enhancer and that continues unremedied and continues to affect materially and adversely the interests of the Noteholders or the Credit Enhancer for 60 days (five days in the case of any failure to take the action specified in the second sentence of Section 2.01(f) of the Sale and Servicing Agreement or Section 2.04(b)(2) of the Sale and Servicing Agreement) after the date on which written notice of the failure, requiring it to be remedied, shall have been given to the Sponsor by the Indenture Trustee, or to the Sponsor and the Indenture Trustee by the Credit Enhancer or the Holders of not less than 51% of the aggregate Outstanding Amount of both Classes of Notes; (d) Any representation or warranty made by the Sponsor or the Depositor in the Sale and Servicing Agreement proves to have been incorrect in any material respect when made, as a result of which the interests of the Noteholders or the Credit Enhancer are materially and adversely affected and that continues to be incorrect in any material respect and continues to affect materially and adversely the interests of the Noteholders or the Credit Enhancer for 60 days after the date on which notice of the failure, requiring it to be remedied, shall have been given to the Sponsor or the Depositor, as the case may be, by the Indenture Trustee, or to the Sponsor, the Depositor, and the Indenture Trustee by either the Credit Enhancer or the Holders of not less than 51% of the aggregate Outstanding Amount of both Classes. A Rapid Amortization Event pursuant to this subparagraph (d) shall not occur if the Sponsor has accepted retransfer of the related Mortgage Loans or substituted for them during the 60-day period (or such longer period (not to exceed an additional 60 days) as the Indenture Trustee may specify) in accordance with the Sale and Servicing Agreement. (e) An Insolvency Event occurs with respect to the Transferor or the Depositor, but for this purpose the 60-day periods in the definition of Insolvency Event shall be 30 days; (f) The Trust becomes subject to registration as an "investment company" under the Investment Company Act of 1940, as amended; or (g) The aggregate of all draws under the Policy exceeds the percentage of the Original Note Principal Balance of both Classes specified in the Adoption Annex, then, when any event described in subparagraph (a), (b), (c), or (d) occurs, either the Indenture Trustee (with the consent of the Credit Enhancer), the Credit Enhancer, or the Holders of not less than 51% of the aggregate Outstanding Amount of both Classes (with the consent of the Credit Enhancer), by notice given in writing to the Transferor, the Depositor, and the Master Servicer (and to the Indenture Trustee if given by either the Credit Enhancer or the Noteholders) may declare that an early amortization event (a "Rapid Amortization Event") has occurred as of the date of the notice, and in the case of any event described in subparagraph (e), (f), or (g), a Rapid Amortization Event shall occur without any notice or other action on the part of the Indenture Trustee, the Credit Enhancer, or the Noteholders, immediately upon its occurrence.

  • Amortization Schedule We do not provide an initial amortization schedule at the time of project agreement release but maintain a "Loan Summary Spreadsheet" on our website on the Financial Tab under "Loans". Once your loan is put into billing an amortization schedule will be posted to the same website, with a copy mailed to the Chief Financial Officer the month following project closeout.

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Amortization Such Mortgage Loan does not provide for negative amortization unless such Mortgage Loan is an ARD Mortgage Loan, in which case it may occur only after the Anticipated Repayment Date.

  • Expected Amortization Schedule for Principal Unless an Event of Default shall have occurred and be continuing on each Payment Date, the Indenture Trustee shall distribute to the Holders of record as of the related Record Date amounts payable pursuant to Section 8.02(e) of the Indenture as principal, in the following order and priority: (1) to the holders of the Tranche A-1 Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; (2) to the holders of the Tranche A-2 Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; (3) to the holders of the Tranche A-3 Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; provided, however, that in no event shall a principal payment pursuant to this Section 3(c) on any Tranche on a Payment Date be greater than the amount necessary to reduce the Outstanding Amount of such Tranche of Recovery Bonds to the amount specified in the Expected Amortization Schedule set forth on Schedule A hereto for such Tranche and Payment Date.

  • Amortization Events If any one of the following events shall occur: (a) failure on the part of the Sellers (i) to make any payment or deposit required by the terms of this Agreement or any Supplement on or before the date occurring five Business Days after the date such payment or deposit is required to be made, or (ii) duly to observe or perform any other covenants or agreements of the Sellers set forth in this Agreement or any Supplement, which failure has a material adverse effect on the Investor Certificateholders of any Series and which continues unremedied for a period of 60 days after the date on which notice of such failure, requiring the same to be remedied, shall have been given to the Sellers by the Trustee, or to the Sellers and the Trustee by an Investor Certificateholder; (b) any representation or warranty made by the Sellers in this Agreement or any Supplement or any information to identify the Accounts required to be delivered by the Sellers pursuant to Section 2.01 or 2.09 (i) shall prove to have been incorrect in any material respect when made or when delivered, which continues to be incorrect in any material respect for a period of 60 days after the date on which notice of such failure, requiring the same to be remedied, shall have been given to the Sellers by the Trustee, or to the Sellers and the Trustee by an Investor Certificateholder, and (ii) as a result of such incorrectness the interests of the Investor Certificateholders of any Series are materially and adversely affected; provided, however, that an Amortization Event shall not be deemed to have occurred under this paragraph if the Sellers have repurchased the related Receivables or all such Receivables, if applicable, during such period in accordance with the provisions of this Agreement; (c) any of the Sellers shall consent to the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to such Seller or of or relating to all or substantially all its property, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator, receiver or liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against such Seller; or any of the Sellers shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors or voluntarily suspend payment of its obligations (any such act or occurrence being an “Insolvency Event”); (d) the Trust shall become an “investment company” within the meaning of the Investment Company Act; (e) a failure by the Sellers to convey Receivables in Additional Accounts or Participation Interests to the Trust within five Business Days after the day on which they are required to convey such Receivables or Participation Interests pursuant to Section 2.09(a); (f) a Servicer Default shall occur; or (g) a Transfer Restriction Event shall occur; then, in the case of any event described in paragraph (a), (b) or (f), either the Trustee or the Holders of Investor Certificates evidencing more than 50% of the aggregate unpaid principal amount of any Series of Investor Certificates to which such event relates by notice then given to the Sellers and the Servicer (and to the Trustee if given by the Investor Certificateholders) may declare that an amortization event (an “Amortization Event”) has occurred with respect to such Series as of the date of such notice, and, in the case of any event described in paragraph (c), (d), (e) or (g), subject to applicable law, an Amortization Event shall occur with respect to all outstanding Series without any notice or other action on the part of the Trustee or the Certificateholders immediately upon the occurrence of such event.

  • Redemption; Repayment; Acceleration In the event a Discount Note is redeemed, repaid or accelerated, the amount payable to the Holder of such Discount Note will be equal to the sum of: (A) the Issue Price (increased by any accruals of Discount); and (B) any unpaid interest accrued on such Discount Note to the Maturity Date (“Amortized Face Amount”). Unless otherwise specified on the face hereof, for purposes of determining the amount of Discount that has accrued as of any date on which a redemption, repayment or acceleration of maturity occurs for a Discount Note, a Discount will be accrued using a constant yield method. The constant yield will be calculated using a 30-day month, 360-day year convention, a compounding period that, except for the Initial Period (as defined below), corresponds to the shortest period between Interest Payment Dates for the applicable Discount Note (with ratable accruals within a compounding period), a coupon rate equal to the initial coupon rate applicable to the applicable Discount Note and an assumption that the maturity of such Discount Note will not be accelerated. If the period from the date of issue to the first Interest Payment Date for a Discount Note (the “Initial Period”) is shorter than the compounding period for such Discount Note, a proportionate amount of the yield for an entire compounding period will be accrued. If the Initial Period is longer than the compounding period, then the period will be divided into a regular compounding period and a short period with the short period being treated as provided above.

  • Defaulted Amounts; Investor Charge-Offs (a) On each Determination Date, the Servicer shall calculate the Class A Investor Default Amount, if any, for the related Distribution Date. If, on any Distribution Date, the Class A Required Amount for the related Monthly Period exceeds the sum of (x) the amount of Reallocated Principal Collections allocated to Series 2000-3 with respect to such Monthly Period and (y) the amount of Excess Spread and the Excess Finance Charge Collections allocable to Series 2000-3 with respect to such Monthly Period, the Collateral Invested Amount, if any, will be reduced by the amount of such excess, but not by more than the Class A Investor Default Amount for such Distribution Date. In the event that such reduction would cause the Collateral Invested Amount to be a negative number, the Collateral Invested Amount will be reduced to zero and the Class B Invested Amount shall be reduced by the amount by which the Collateral Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the amount of such reduction, if any, of the Collateral Invested Amount with respect to such Distribution Date. In the event that such reduction would cause the Class B Invested Amount to be a negative number, the Class B Invested Amount shall be reduced to zero, and the Class A Invested Amount shall be reduced by the amount by which the Class B Invested Amount would have been reduced below zero, but not by more than the excess, if any, of the Class A Investor Default Amount for such Distribution Date over the aggregate amount of the reductions, if any, of the Collateral Invested Amount and the Class B Invested Amount for such Distribution Date (a "Class A Investor Charge-Off"). Class A Investor Charge-Offs shall thereafter be reimbursed and the Class A Invested Amount increased (but not by an amount in excess of the aggregate unreimbursed Class A Investor Charge-Offs) on any Distribution Date by the amount of Excess Spread and Excess Finance Charge Collections allocated and available for that purpose pursuant to subsection 4.07(b). References to "negative numbers" above shall be determined without regard to the requirement that the Invested Amount of a Class not be reduced below zero.

  • Principal Payments (a) Borrower must pay Lender the outstanding principal amount of all Warehousing Advances on the Warehousing Maturity Date. (b) Except as otherwise provided in Section 3.1, Borrower may prepay any portion of the Warehousing Advances without premium or penalty at any time. (c) Borrower must pay to Lender, without the necessity of prior demand or Notice from Lender, and Borrower authorizes Lender to cause the Funding Bank to charge Borrower’s Operating Account for, the amount of any outstanding Warehousing Advance against a specific Pledged Asset upon the earliest occurrence of any of the following events: (1) One (1) Business Day elapses from the date a Warehousing Advance was made if the Pledged Loan to be funded by that Warehousing Advance is not closed and funded. (2) Ten (10) Business Days elapse without the return of a Collateral Document delivered by Lender to Borrower under a Trust Receipt for correction or completion. (3) On the date on which a Pledged Loan is determined to have been originated based on untrue, incomplete or inaccurate information or otherwise to be subject to fraud, whether or not Borrower had knowledge of the misrepresentation, incomplete or incorrect information or fraud, on the date on which Borrower knows, has reason to know, or receives Notice from Lender, that (A) one or more of the representations and warranties set forth in Article 9 were inaccurate or incomplete in any material respect on any date when made or deemed made, or (B) Borrower has failed to perform or comply with any covenant, term or condition set forth in Article 9. (4) On the date the Pledged Loan or a Lien prior to the Mortgage securing repayment of the Pledged Loan is defaulted and remains in default for a period of 60 days or more. (5) Upon the sale, other disposition or prepayment of any Pledged Asset or, with respect to a Pledged Loan included in an Eligible Mortgage Pool, upon the sale or other disposition of the related Agency Security. (6) One (1) Business Day immediately preceding the date scheduled for the foreclosure or trustee sale of the premises securing a Pledged Loan. (7) If the outstanding Warehousing Advances against Pledged Loans of a specific type of Eligible Loan exceed the aggregate Purchase Commitments for that type of Eligible Loan.

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