Amortization and Installment Payments Sample Clauses

Amortization and Installment Payments. At the earlier of the five (5) month anniversary of the Closing Date or the Effective Date, the Company shall redeem this Note and any accrued but unpaid interest in accordance with the Amortization Schedule attached as Schedule 2 (each, an “Amortization Payment”). Each Amortization Payment shall, at the option of the Company, be made in cash or, subject to the Equity Conditions, in Common Stock pursuant to the Amortization Conversion Rate. Notwithstanding any provision in this Note to the contrary, the Company will not be required to make any Amortization Payment to the extent any such Amortization Payment would result in the Company making aggregate Amortization Payments in an amount greater than the balance of the Note. Any outstanding unpaid principal and accrued interest (as of the Maturity Date) on this Note will be due and payable on the Maturity Date and may be paid in cash (subject to a 30% premium), or, in the Company’s discretion (subject to the Equity Conditions) in Common Stock. For example, if the Amortization Payments commence on the fifth (5th) anniversary date from the Original Issue Date, the Company shall begin to make equal bi-weekly amortization payments of 1/15th the total principal and interest due on this Note, in cash or, subject to the Equity Conditions, Common Stock (at the Company’s option).
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Amortization and Installment Payments. Beginning on the Amortization Payment Date, the Company shall begin to make bi-weekly amortization payments (for the avoidance of doubt, bi-weekly shall mean every two weeks) (each a “Bi-Weekly Payment”), in cash to the Holder, until this Note is repaid in full. Each Bi-Weekly Payment shall consist of at least 1/12th of the total outstanding amount under this Note as of the Amortization Payment Date, including the principal, accrued and unpaid interest (prorated through the entire pay-off period pursuant to this paragraph), and any applicable penalties. The Company may make a Bi-Weekly Payment to the Holder in Common Stock, in the event that the Equity Conditions detailed above are satisfied.
Sample 1Sample 2Sample 3See All (4)
Amortization and Installment Payments. Beginning on the Amortization Payment Date, the Company shall begin to make bi-weekly amortization payments (for the avoidance of doubt, bi-weekly shall mean every two weeks) (each a “Bi-Weekly Payment”), in cash to the Holder, until this Note is repaid in full. Each Bi-Weekly Payment shall consist of at least 1/12th of the total outstanding amount under this Note as of the Amortization Payment Date, including the principal and accrued and unpaid interest. The Company may make a Bi-Weekly Payment to the Holder in Common Stock, in the event that the Equity Conditions detailed above are satisfied.
Sample 1Sample 2See All (4)
Amortization and Installment Payments. At the earlier of the six (6) month anniversary of the Original Issue Date or two (2) Trading Days after the Effective Date of the Company’s Registration Statement on Form S-1, the Company shall redeem one-sixth (1/6th) of the face amount of this Note then outstanding and any accrued but unpaid interest on a monthly basis in accordance with the Amortization Schedule attached hereto as Schedule 2 (each, an “Amortization Payment”). Each Amortization Payment shall, at the option of the Company, be made in cash or, subject to the Equity Conditions, in Common Stock pursuant to the Amortization Conversion Rate. Notwithstanding any provision in this Note to the contrary, the Company will not be required to make any Amortization Payment to the extent any such Amortization Payment would result in the Company making aggregate Amortization Payments in an amount greater than the balance of the Note. Any outstanding unpaid principal and accrued interest on this Note as of the Maturity Date will be due and payable on the Maturity Date and may be paid in cash or, in the Company’s discretion, subject to the Equity Conditions, in Common Stock.
Sample 1See All (4)
Amortization and Installment Payments. Beginning on the Amortization Payment Date, the Company shall begin to make monthly amortization payments as set forth on Schedule A (each a “Monthly Payment”), in cash to the Holder, until this Note is repaid in full. Commencing on the 180th day after the Original Issue Date, the Holder may elect to receive, in whole or in part, the Monthly Payments in Common Stock, in the event that the Equity Conditions detailed above are satisfied. The “In-Kind Payment Price” upon such election shall be equal to 75% of the lowest three trade prices of the Common Stock during the 20 trading days immediately preceding the Monthly Payment date, except that, following the occurrence of any Event of Default, such election shall be equal to 65% of the lowest trade price of the Common Stock during the 20 trading days immediately preceding the Monthly Payment date.
Sample 1
Amortization and Installment Payments. [Reserved]
Sample 1
Amortization and Installment Payments. Beginning on January 15th, 2017 the Company shall redeem one-twelfth (1/12th) of the face amount of this Note and any accrued but unpaid interest, as well as any prepayment due pursuant to the Prepayment Multiplier. Each Amortization Payment shall be made in cash or, subject to the Equity Conditions, in Common Stock pursuant to the Amortization Conversion Rate at the sole option of the holder. Notwithstanding any provision in this Note to the contrary, the Company will not be required to make any Amortization Payment to the extent any such Amortization Payment would result in the Company making aggregate Amortization Payments in an amount greater than the balance of the Note. Any outstanding unpaid principal and accrued interest on this Note as of the Maturity Date will be due and payable on the Maturity Date and may be paid in cash or, in the Holders discretion, subject to the Equity Conditions, in Common Stock.
Sample 1
AutoNDA by SimpleDocs
Amortization and Installment Payments. At the six (6) month anniversary of the Original Issue Date (the "Amortization Payment Date"), the Company shall begin to make bi-weekly amortization payments (each a "Bi-Weekly Payment"), in cash to the Holder, until this Note is repaid in full. Each Bi-Weekly payment shall consist of at least 1/12th of the total outstanding amount under this Note as of the Amortization Payment Date, including the principal and accrued and unpaid interest. The Company may make a Bi-Weekly payment to the Holder in Common Stock, in the event that the Equity Conditions detailed above are satisfied. Notwithstanding anything herein to the contrary, at any time after the occurrence of any Event of Default until this Note is no longer outstanding, the Holder may, in its sole discretion, refuse any Bi-Weekly Payment and/or any issuance of Common Stock when such issuance is to be made under the Equity Conditions.
Sample 1

Related to Amortization and Installment Payments

  • Amortization Payments The Company shall make three payments (each an “Amortization Payment”) as follows: on the six-month anniversary of the Original Issue Date, on the seven-month anniversary of the Original Issue Date, and on the Maturity Date (each such date a “Payment Date”), provided that if any Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day. Each Amortization Payment shall be equal to one-third of the original principal amount of the Note, plus all accrued interest thereon as of the Payment Date, as adjusted pursuant to Section 2(c) below. At the Holder’s option (except as set forth herein), payment may be made in cash or in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock, provided the Company complies with the Equity Conditions provided in Section 2(d), below.

  • Installment Payments Notwithstanding Section 3.01, the Executive may elect by written notice to receive any payments due to him hereunder by way of periodic or installment payments.

  • Treatment of Installment Payments Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas. Reg. Section 1.409A‑2(b)(2), for purposes of Section 409A of the Code.

  • Collections Following Amortization On the Amortization Date and on each day thereafter, Servicer shall set aside and hold in trust for the benefit of Agent and the Purchasers, in the Collection Accounts in the manner set forth in Sections 7.1(j) and 8.2, all Collections and/or Deemed Collections received on such day and any additional amount for the payment of any Aggregate Unpaids owed by Seller and not previously paid by Seller in accordance with Section 2.1. On and after the Amortization Date, Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) Agent (i) remit to the Second-Tier Account the amounts set aside pursuant to the preceding sentence (to the extent such amounts are not already on deposit therein) and (ii) apply such amounts at Agent’s direction to reduce the Aggregate Capital and any other Aggregate Unpaids (it being understood and agreed that, in any event, no portion of the RPA Deferred Purchase Price may be paid to Seller on a date on or after the Amortization Date and prior to the Final Payout Date). If there shall be insufficient funds on deposit for Servicer to distribute funds in payment in full of the aforementioned amounts, Servicer shall distribute funds in accordance with the applicable Payment Instructions: first, to the reimbursement of Agent’s and each Purchaser’s costs of collection and enforcement of this Agreement, second, ratably to the payment of all accrued and unpaid fees under any Fee Letter and all accrued and unpaid Purchaser Yield, third, to the payment of Servicer’s reasonable out-of-pocket costs and expenses in connection with servicing, administering and collecting the Receivables, including the Servicing Fee, if Seller, or one of its Affiliates is not then acting as Servicer, fourth, to the ratable reduction of Aggregate Capital to zero, fifth, for the ratable payment of all other unpaid Obligations, provided that to the extent such Obligations relate to the payment of Servicer costs and expenses, including the Servicing Fee, when Seller or one of its Affiliates is acting as Servicer, such costs and expenses will not be paid until after the payment in full of all other Obligations, sixth, to the ratable payment in full of all other Aggregate Unpaids, and seventh, after the Facility Termination Date when the Aggregate Unpaids have been indefeasibly reduced to zero, to Seller as RPA Deferred Purchase Price, any remaining Collections.

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Distributions and Interest Amount (i) Interest Rate. "

  • Income Payments Seller shall be entitled to receive an amount equal to all Income paid or distributed on or in respect of the Securities that is not otherwise received by Seller, to the full extent it would be so entitled if the Securities had not been sold to Buyer. Buyer shall, as the parties may agree with respect to any Transaction (or, in the absence of any such agreement, as Buyer shall reasonably determine in its discretion), on the date such Income is paid or distributed either (i) transfer to or credit to the account of Seller such Income with respect to any Purchased Securities subject to such Transaction or (ii) with respect to Income paid in cash, apply the Income payment or payments to reduce the amount, if any, to be transferred to Buyer by Seller upon termination of such Transaction. Buyer shall not be obligated to take any action pursuant to the preceding sentence (A) to the extent that such action would result in the creation of a Margin Deficit, unless prior thereto or simultaneously therewith Seller transfers to Buyer cash or Additional Purchased Securities sufficient to eliminate such Margin Deficit, or (B) if an Event of Default with respect to Seller has occurred and is then continuing at the time such Income is paid or distributed.

  • Distributions Payable in Cash; Redemption Payments In the event that the Board of the Investment Company shall declare a distribution payable in cash, the Investment Company shall deliver to FTIS written notice of such declaration signed on behalf of the Investment Company by an officer thereof, upon which FTIS shall be entitled to rely for all purposes, certifying (i) the amount per share to be distributed, (ii) the record and payment dates for the distribution, and (iii) that all appropriate action has been taken to effect such distribution. Once the amount and validity of any dividend or redemption payments to shareholders have been determined, the Investment Company shall transfer the payment amounts from the Investment Company's accounts to an account or accounts held in the name of FTIS, as paying agent for the shareholders, in accordance with any applicable laws or regulations, and FTIS shall promptly cause payments to be made to the shareholders.

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38 ARTICLE IV PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!