Additional Principal Payments. Borrower shall be rewired to prepay the principal owing under the Term Loan in the following circumstances:
Additional Principal Payments. If at any time the interest on this Restated Note accrued during any month is less than $50,000 (pro rata for any partial month), Borrower shall pay to Lender the difference between $50,000 (or such pro rata portion thereof) and the interest accruing on this Restated Note during such month, to be applied to the Obligations in accordance with Section 7.
Additional Principal Payments. In the event that the Company has Free Cash as of the end of any Quarter, the Company shall use such Free Cash to make additional payments of principal; provided, however, that no such payment will be required if the total annualized amount of Free Cash as of the end of such Quarter is equal to or greater than Four Million Dollars ($4,000,000); and provided, further, that in the event that no payment is required pursuant to the first sentence of this Section 4, and as a result, the Company uses Free Cash to redeem Series A Preferred Stock under the Company's Restated Certificate of Incorporation, no default shall be deemed to have occurred hereunder by virtue of such payment. For purposes of this Section 4, the amount of total annualized Free Cash as of the end of any Quarter shall be determined by multiplying (a) the aggregate amount of Free Cash for the current and all preceding Quarters of the Company's current fiscal year by (b) the appropriate Annualization Factor. For purposes of the preceding sentence, the Annualization Factor for any Quarter shall be determined as follows: (w) for the first Quarter of the Company's fiscal year the Annualization Factor shall be four (4); (x) for the second Quarter of the Company's fiscal year the Annualization Factor shall be two (2); (y) for the third Quarter of the Company's fiscal year the Annualization Factor shall be four-thirds (4/3); and (z) for the fourth Quarter of the Company's fiscal year the Annualization Factor shall be one (1). Notwithstanding the foregoing, after the Company has redeemed all of its shares of Series A Preferred Stock, all Free Cash shall be used by the Company to make additional payments of principal at the end of each Quarter, regardless of the amount of the Free Cash available as of the end of any Quarter. Any payments shall be made to all Holders of the Notes, pari passu, and applied against the outstanding principal balances of the Notes.
Additional Principal Payments. Commencing on the earlier of (i) the Trigger Date and (ii) June 30, 2011, and on the first (1st) day of each calendar quarter thereafter, Borrower shall pay to Agent for the account of the Lenders as a prepayment of principal of the Loans an amount equal to $1,300,000.00, together with any amounts due pursuant to §4.8.
Additional Principal Payments. Borrower shall be required to prepay the principal owing under the Term Loan in the following circumstances: (i) should the construction cost for the Madera Facility to be constructed on the Real Property be less than $42.6 million then Borrower shall promptly pay lender the difference between the actual construction cost and $42.6 million; and (ii) should Borrower or any of its affiliates obtain construction funding for the Second Facility, Borrower shall promptly pay Lender all principal and accrued interest then outstanding. 1.4
Additional Principal Payments. If at any time the outstanding balance of the Term Loan exceeds Seventy Five Percent (75%) of the appraised value of the equipment pledged as collateral, Borrower shall make a principal payment equal to the amount of said difference or pledge such additional collateral satisfactory to the Lender so that the appraised value of the equipment exceeds Seventy Five Percent (75%) of the outstanding balance of the Term Loan.
Additional Principal Payments. So long as the principal balance is greater than $3,250,000.00, within 120 days after the end of each of Borrower's fiscal years, the Borrower promises and agrees to pay to the Bank as a further payment of the principal of the Term Loan, an amount determined as follows:
Additional Principal Payments. In addition to all other payments due to the Lenders by Borrower pursuant to the Credit Agreement or this Amendment, on or before April 15, 2003, Borrower agrees to pay to the Lenders an additional principal payment (the "Principal Make-Up Payment") on the Term Loan in an amount to be determined as follows. In the event Borrower's Consolidated EBITDA for its 2002 Fiscal Year is $12,000,000 or greater, the Principal Make-Up Payment shall be $2,000,000. In the event Borrower's Consolidated EBITDA for its 2002 Fiscal Year is less than $12,000,000, the Principal Make-Up Payment shall be an amount equal to (a) $2,000,000 less (b) $0.66 multiplied by ($12,000,000 less Borrower's Consolidated EBITDA). For example, if Borrower's Consolidated EBITDA is $10,000,000, the Principal Make-Up Payment would be $680,000 ($2,000,000 less $0.66 multiplied by ($12,000,000 less $10,000,000) = $2,000,000 less $1,320,000 = $680,000). In calculating Borrower's Excess Cash Flow for its 2002 Fiscal Year, the Principal Make-Up Payment shall be an additional deduction from Consolidated EBITDA. The Principal Make-Up Payment shall be applied to repayment of the Term Loan in reverse order of maturity.
Additional Principal Payments. The following additional principal payments shall be due and payable with respect to the Loan:
Additional Principal Payments. (a) In the event that the Capital Event has not occurred on or before August 7, 2008, then commencing September 10, 2008 and continuing on the 10th day of each month thereafter until the occurrence of the Capital Event, Borrowers shall pay to Agent for the account of the Lenders as a prepayment of principal of the Loans an amount equal to the Excess Cash Flow from the preceding month (such payments of principal hereinafter referred to as “Additional Principal”), together with any amounts due pursuant to §4.8. Additional Principal shall first be applied to the outstanding principal of Swing Loans, then to the outstanding principal of Revolving Credit Loans, and then to the outstanding principal of Term Loans. The amount of Additional Principal shall be subject to adjustment in accordance with the terms of this Agreement.
