AHYDO Payments Sample Clauses

AHYDO Payments. (i) The Borrower shall make cash payments of interest and (to the extent set forth in Section 2.07(g)(ii)) principal repayments with respect to the Loans on each Interest Payment Date set forth in Schedule 2.07(g) in the aggregate amount set forth opposite such Interest Payment Date on such Schedule. (ii) Upon receipt of any amount payable to the Lenders pursuant to Section 2.07(g)(i), the Administrative Agent shall distribute such amount in the following order: First, to the payment of any interest then due and payable on the Loans up to the PIK Interest Amount, ratably among the Lenders in accordance with the aggregate amount of interest owed to each such Lender; and Second, to the payment of the principal amount of the Loans, ratably among such Lenders in accordance with the aggregate principal amount owed to each such Lender.
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AHYDO Payments. Notwithstanding anything in this Agreement to the contrary, if any Term Loan remains outstanding after the fifth anniversary of June 5, 2023 (the “AHYDO Trigger Date”): if the aggregate amount that would be included in gross income of the Lenders with respect to such Term Loans (within the meaning of Section 163(i) of the Code or any successor provision) for periods ending before the close of any “accrual period” (as defined in Section 1272(a)(5) of the Code, an “Accrual Period”) that ends after the AHYDO Trigger Date (the “Aggregate Accrual”) would, but for this Section 2.23(b), exceed an amount equal to the sum of (i) the aggregate amount of interest to be paid (within the meaning of Section 163(i) of the Code) on such Term Loans before the close of any such Accrual Period, and (ii) the product of (A) the issue price (as defined in Sections 1273(b) and 1274(a) of the Code) of the Term Loans and (B) the yield to maturity (as defined in Section 1.1272-1(b)(1)(i) of the United States Treasury Regulations) (the “Maximum Accrual”), then the Company shall pay at the first close of an Accrual Period after the AHYDO Trigger Date and at the close of each subsequent Accrual Period thereafter, that portion of the outstanding principal amount of the Term Loans, plus any accrued and unpaid interest, necessary to prevent the Term Loans from constituting an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code, up to an amount equal to the excess, if any, of the Aggregate Accrual over the Maximum Accrual (each such payment, an “AHYDO Payment”) and the amount of such AHYDO Payment and any interest thereon shall be treated for U.S. federal income tax purposes as an amount of interest to be paid (within the meaning of Section 163(i)(2)(B)(i) of the Code) under the Term Loans. This Section 2.23 is intended to prevent the Term Loans from being classified as an “applicable high yield discount obligation” (as defined in Section 163(i) of the Code) and shall be interpreted in a manner consistent with such intent.
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AHYDO Payments. Notwithstanding anything herein to the contrary, the Second Lien Secured Parties may accept and retain amounts paid by the Grantors pursuant to Section 2.06(e) of the Second Lien Credit Agreement as in effect on the date hereof.
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AHYDO Payments. Notwithstanding anything to the contrary herein, if at the end of any accrual period (as defined in Code §1272(a)(5)) ending after the fifth anniversary of the Closing Date, the aggregate amount of accrued and unpaid original issue discount (as defined in Code Section 1273(a)(1)) on the Loans would, but for this paragraph, exceed an amount equal to the product of the Loan’s issue price (as defined in Code Sections 1273(b) and 1274(a)) multiplied by the yield to maturity (as defined in Treasury Regulation Section 1.1272-1(b)(1)(i)) (the “Maximum Accrual”), all accrued and unpaid interest, including PIK Interest, and original issue discount on the Term Loan as of the end of such accrual period in excess of an amount equal to the Maximum Accrual shall be paid in cash by Borrower to the Lender (the “AHYDO Interest Payment”). For the avoidance of doubt, this Section 2.6(e) shall be construed so as to cause the Loans to not be treated as having been issued with “significant original issue discount” within the meaning of IRC Section 163(i)(2).
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AHYDO Payments. Notwithstanding any other provision of this Agreement, if on any Interest Payment Date occurring after the fifth anniversary of the Closing Date, the aggregate amount of interest which would be included in gross income with respect to any Loan for periods ending on or before such interest payment date (within the meaning of Section 163(i) of the Code) exceeds an amount equal to the sum of (i) the aggregate amount of interest to be paid (within the meaning of Section 163(i) of the Code) with respect to such Loan before such Interest Payment Date (determined without regard to this provision) and (ii) the product of (A) the issue price (as defined in Sections 1273(b) and 1274(a) of the Code) of such Loan and (B) the yield to maturity (interpreted in accordance with Section 163(i) of the Code) of such Loan (such sum shall be referred to as the “Maximum Amount”), the Borrower shall pay an amount in cash equal to the excess of the amount which would be includible in gross income with respect to such Loan for periods ending on or before such Interest Payment Date over the Maximum Amount. The intent of this Section 2.13 is that the Borrower shall be obligated to make payments under such Loan such that no payment shall be deferred beyond a date that would result in such Loan being treated as an “applicable high yield debt obligation” under Sections 163(e)(5) and 163(i) of the Code and shall be interpreted consistently with such intent.
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AHYDO Payments. Subject to the Subordination Agreement, if at the end of any accrual period (as defined in Section 1272(a)(5) of the Internal Revenue Code ending after the fifth anniversary of the Restatement Effective Date, the aggregate amount of the accrued and unpaid original issue discount (as defined in Section 1273(a)(1)) of the Internal Revenue Code on the Restated Notes would, but for this paragraph, exceed an amount equal to the product of the Restated Notes’ issue price (as defined in Sections 1273(b) and 1274(a) of the Internal Revenue Code) multiplied by the yield to maturity (as defined in Treasury Regulation Section 1.1272-1(b)(1)(i)) (the “Maximum Accrual”), all accrued and unpaid interest, including any interest subject to an Interest Election pursuant to Section 2.2(e), and original issue discount on the Restated Notes as of the end of such accrual period in excess of an amount equal to the Maximum Accrual shall be paid by the Company to Purchasers.
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AHYDO Payments. On any Interest Payment Date in respect of the Tranche A Term Loans following the fifth anniversary of the Closing Date, the Borrower shall make a cash interest payment of accrued and unpaid interest on the Tranche A Term Loans (including any original issue discount, as defined under the Code) in such amounts as necessary so that the Tranche A Term Loans shall not be treated as “applicable high yield discount obligations” within the meaning of Section 163(i) of the Code (an “AHYDO Payment”). If an AHYDO Payment is required on an Interest Payment Date, the Borrower shall provide written notice to the Administrative Agent at least five (5) Business Days prior to such Interest Payment Date of such AHYDO Payment (and the amount thereof).
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Related to AHYDO Payments

  • Payments From and after the Effective Date, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date.

  • Optional Payments Subject to Section 3.04, the Company may, at any time or from time to time, upon at least three Business Day’s written notice to the Administrative Agent, ratably prepay Loans in whole or in part, in amounts of $5,000,000 or any multiple of $1,000,000 in excess thereof. Such notice of prepayment shall specify the date and amount of such prepayment and whether such prepayment is of Base Rate Loans, or Offshore Rate Loans, or any combination thereof. Such notice shall not thereafter be revocable by the Company and the Administrative Agent will promptly notify each Bank thereof and of such Bank’s Commitment Percentage of such prepayment. If such notice is given by the Company, the Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein, together with accrued interest to each such date on the amount prepaid and any amounts required pursuant to Section 3.04.

  • Loan Payments a. On each Payment Date during the term of the Loan, the Borrower shall pay interest in arrears at the Applicable Rate(s) on the outstanding principal balance of the Loan in the amount of all interest accrued and unpaid through the last day of the calendar month preceding the calendar month in which such payment is due; and b. If on a Determination Date, the amount of the Loan exceeds the Borrowing Base, Borrower shall pay to Bank within fifteen (15) days after such Determination Date a principal payment in an amount sufficient to reduce the principal balance of the Loan as of such Determination Date to an amount equal to the Borrowing Base; c. In any and all events, the entire outstanding principal balance of the Loan, together with all accrued and unpaid interest thereon, shall be due and payable on the Scheduled Maturity Date. Borrower may sell any of the Borrower Kite Units subject to the lien and security interest of the Kite Units Pledge Agreement, provided no Event of Default is the continuing and provided Borrower makes to Bank a principal payment in an amount sufficient to reduce the principal balance of the Loan immediately following such sale to an amount equal to Fifty Percent (50%) of the then market value (as quoted on the New York Stock Exchange) of the number of shares of beneficial interest (or other comparable equity interest of Kite) which would be subject to the lien and security interest of the Kite Units Pledge Agreement immediately following such sale (such a payment being referred to herein as a "Pledge Agreement Release Price"). Upon the receipt of such Pledge Agreement Release Price payment, Bank will execute a release of the Kite Units Pledge Agreement from the beneficial interests for which such Pledge Agreement Release Price payment is made and will release all of its other security encumbering such interests.

  • FILOT PAYMENTS Pursuant to Section 12-44-50 of the FILOT Act, the Company and any Sponsor Affiliates, as applicable, are required to make payments in lieu of ad valorem taxes to the County with respect to the Economic Development Property. Inasmuch as the Company anticipates an initial investment of sums sufficient for the Project to qualify for a fee in lieu of tax arrangement under Section 12-44-50(A)(1) of the FILOT Act, the County and the Company have negotiated the amount of the FILOT Payments in accordance therewith. The Company and any Sponsor Affiliates, as applicable, shall make payments in lieu of ad valorem taxes on all Economic Development Property which comprises the Project and is placed in service, as follows: the Company and any Sponsor Affiliates, as applicable, shall make payments in lieu of ad valorem taxes during the Exemption Period with respect to the Economic Development Property or, if there are Phases of the Economic Development Property, with respect to each Phase of the Economic Development Property, said payments to be made annually and to be due and payable and subject to penalty assessments on the same dates and in the same manner as prescribed by the County for ad valorem taxes. The determination of the amount of such annual FILOT Payments shall be in accordance with the following procedure (subject, in any event, to the procedures required by the FILOT Act):

  • Deferred Payments “Deferred Payments” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Mandatory Payments The Loans shall be subject to mandatory repayment or prepayment (in the case of any partial prepayment conforming to the requirements as to the amounts of partial prepayments set forth in Section 2.13(a) above), and the LC Outstandings shall be subject to cash collateralization requirements, in accordance with the following provisions:

  • 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.

  • Note Payments The Company agrees that, so long as any Purchaser shall hold any Note, it will make payments of principal of, interest on, and any Yield-Maintenance Amount payable with respect to, such Note, which comply with the terms of this Agreement, by wire transfer of immediately available funds for credit (not later than 12:00 noon, New York City local time, on the date due) to (i) the account or accounts of such Purchaser specified in the Purchaser Schedule attached hereto in the case of any Series A Note, (ii) the account or accounts of such Purchaser specified in the Confirmation of Acceptance with respect to such Note in the case of any Shelf Note or (iii) such other account or accounts in the United States as such Purchaser may from time to time designate in writing, notwithstanding any contrary provision herein or in any Note with respect to the place of payment. Each Purchaser agrees that, before disposing of any Note, it will make a notation thereon (or on a schedule attached thereto) of all principal payments previously made thereon and of the date to which interest thereon has been paid. The Company agrees to afford the benefits of this paragraph 11A to any Transferee which shall have made the same agreement as the Purchasers have made in this paragraph 11A.

  • Payments of Interest Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

  • Special Payments Any payroll adjustment due an employee in the bargaining unit as a result of working out of class, re-computation of hours, or other reasons other than procedural errors shall be made and a supplemental check issued not later than fifteen (15) working days following notice to the payroll department.

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