Amortization Payments Clause Samples

Amortization Payments. Starting on the six (6) month anniversary of the Original Issuance Date and continuing on each of the following six (6) successive months thereafter (each and "Amortization Payment Date"), the Borrower shall redeem one-fourth (1/6) of the face amount of this Note and guaranteed interest (each, an "Amortization Payment") in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Borrower, be made in cash or, subject to the Borrower complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Amortization Payments. Starting on the six-month anniversary and ending on the eighteen-month anniversary of the issuance date of this Note, on the 15th and 30th date of each month therein (each an “Amortization Payment Date”), the Borrower shall redeem one-twenty-fourth (1/24th) of the face amount of this Note and guaranteed interest (each, an “Amortization Payment”) in accordance with the attached Amortization Schedule (Appendix A). Each Amortization Payment shall, at the option of the Company, be made in cash or Common Stock or a combination thereof pursuant to the Amortization Conversion Rate; provided, however, that in the event that all of the Equity Conditions are not met on that certain Amortization Payment Date, such payment in cash or Common Stock or some combination thereof shall be at the Holder’s option. In respect of payments made in cash, the prepayment premium, as set forth in Section 2(e), below shall apply. Notwithstanding the above, or anything to the contrary in this Note, i. upon the mutual written consent of the Company and the Purchaser, at any time prior to an Amortization Payment becoming due and payable, the Company and the Purchaser may agree that the Company may delay any such amortization payment by up to three weeks from its due day if such delay is accompanied by an additional 3% discount of the then-applicable Amortization Conversion Rate. In connection therewith, upon not less than three day’s written notice, the Purchaser may request that the Company delay payment of the next succeeding Amortization Payment by up to 45 days, subject to a further one-day written notice thereafter by the Purchaser for payment thereof or, at the Purchaser’s sole option, for conversion of some or all of such Amortization Payment into shares of the Company’s common stock. The Purchaser’s exercise, by itself, of any such delay option shall not result in any additional discount of the then-applicable Amortization Conversion Rate. The Company hereby unconditionally and irrevocably agrees to permit the Purchaser to exercise each and every such delay option. ii. the Purchaser, upon written notice to the Company, may, at any time or from time to time, request that the Company accelerate payment of the lesser of (i) thirty percent (30%) of the original principal amount of the Note and all accrued but unpaid interest thereon or (ii) the then-outstanding principal and all accrued but unpaid interest thereon; provided, however, that such accelerated payment(s), if any, (a) sha...

Amortization Payments. Commencing on March 31, 2028, Borrower shall repay to Administrative Agent the aggregate principal amount of the Term Loans outstanding on the last day of each calendar month in equal installments of one half of one percent (0.50%) of the aggregate outstanding balance of the Term Loans (inclusive of Capitalized Interest), together with any fees required to be repaid pursuant to the Fee Letter; provided that the remaining outstanding balance of Term Loans (inclusive of Capitalized Interest) shall be repaid on the Maturity Date, together with the accrued and unpaid interest thereon, and, notwithstanding the foregoing, all remaining Obligations (including, without limitation, all fees payable pursuant to the Fee Letter) relating to the Loans shall be immediately due and payable on the Maturity Date.

Amortization Payments. If no other repayments or conversion are made, Borrower shall make ten equal amortization payments (each an “Amortization Payment”) of $61,600.00 in cash to the Holder towards the repayment of the principal amount under this Note, on the first day of each month starting in the third month after closing of this Note. In the event any portion of the Note is converted to shares or repaid beforehand, the remaining principal shall be amortized in equal amounts over the remaining months. For the avoidance of doubt, the 120% repayment premium as further provided for in Section 1.9 of this Note shall not apply to any repayment of the Note under this Section 4.16 prior to the occurrence of an Event of Default.

Amortization Payments. Borrower, each other Obligor and Lender agree that any and all minimum monthly amortization payments due and owing under Section 2.6(a) of the Credit Agreement will be suspended until the Maturity Date; provided, however, that, notwithstanding the foregoing, any and all equity funding received by Borrower or any of its Affiliates (other than the Preferred Convertible Equity Raise, which is otherwise addressed in Section 2 hereof) or any cash flow or insurance proceeds received by Borrower on or before the Maturity Date shall be paid to Lender in accordance with the terms, including without limitation, Section 2.10, of the Credit Agreement, as amended hereby, to be applied against the Obligations.

Amortization Payments. Starting on the third month after the Original Issue Date and continuing on each of the following fifteen (15) successive months thereafter (each and “Amortization Payment Date”), the Company shall redeem one-sixteenth (1/16th) of the face amount of this Note and interest (each, an “Amortization Payment”) in accordance with the attached Amortization Schedule (Appendix A) on the 15th day of each month or if such day is not a Business Day on the next Business day. Each Amortization Payment shall, at the option of the Holder, be made in cash or, subject to the Company complying with the Equity Conditions be made in Common Stock pursuant to the Amortization Conversion Rate.

Amortization Payments. Each Delayed Draw Term Loan shall amortize based on the same percentage as the initial Term Loan as specified in Section 2.05(b) (and may include customary adjustments to provide for the “fungibility” of the Delayed Draw Term Loans with the initial Term Loans), beginning on the last day of the first full calendar quarter after such Delayed Draw Term Loan is made and on the last day of each calendar quarter thereafter, with the remaining principal amount of such Delayed Draw Term Loan then outstanding due and payable in full on the Term Loan Maturity Date.

Amortization Payments. On each Payment Date, commencing with the Payment Date with respect to the Applicable Measurement Period ending December 31, 2021, the Borrower shall make a payment in an amount equal to the sum of (i) 1.25% of the Term Loan Commitments as of the Closing Date (i.e., $312,500 per quarterly payment) plus (ii) 1.25% of the original principal balance of each Incremental Term Loan funded by the Lenders after the Closing Date (the sum of such amounts, each a “Mandatory Principal Payment”), which such payments (being the sum of the amounts in clause (i) and clause (ii), and totaling $368,750 for the fiscal quarter ending June 30, 2023 and $425,000 per quarterly payment commencing with the fiscal quarter ending September 30, 2023) shall reduce the outstanding principal of the Loans by the amounts thereof as of the applicable Payment Date; provided that the increase in the amount of the Mandatory Principal Payments in respect of the (x) 2022 Incremental Term Loan pursuant to the foregoing clause (ii) shall commence on the Payment Date with respect to the Applicable Measurement Period ending December 31, 2022, (y) 2023 Incremental Term Loan pursuant to the foregoing clause (ii) shall commence on the Payment Date with respect to the Applicable Measurement Period ending September 30, 2023, and (z) 2024 Incremental Term Loan pursuant to the foregoing clause (ii) shall commence on the Payment Date with respect to the Applicable Measurement Period ending March 31, 2025.

Amortization Payments. In addition to all other obligations under this Note, the Borrower shall make the following amortization payments (each an “Amortization Payment”) in cash to the Holder towards the repayment of this Note, as provided in the following table: Payment Date: 3/3/2022 Payment Amount: $53,760.00 4/1/2022 $53,760.00 5/3/2022 $53,760.00 6/3/2022 $53,760.00 7/1/2022 $53,760.00 8/3/2022 $53,760.00 9/2/2022 $53,760.00 10/3/2022 $53,760.00 11/3/2022 $53,760.00 (a) With respect to the first Amortization Payment originally due on March 3, 2022 (the “First Amortization Payment”), the Company may notify the Holder on or before March 3, 2022, that the Company is electing to extend the due date of the First Amortization Payment to April 1, 2022 (the “First Amortization Payment Extension”) as further provided herein. If the Company exercises the First Amortization Payment Extension, then the First Amortization Payment shall be due on April 1, 2022 and the Company shall pay $5,376.00 (the “First Amortization Payment Extension Fee”) to the Holder on or before March 3, 2022. For the avoidance of doubt, the First Amortization Payment Extension shall not affect the due date of any other Amortization Payment and the First Amortization Payment Extension Fee shall not reduce the amounts owed under the Note. The Company shall not be permitted to exercise the First Amortization Payment Extension if an Event of Default occurs under the Note. (b) With respect to the second Amortization Payment originally due on April 1, 2022 (the “Second Amortization Payment”), the Company may notify the Holder on or before April 1, 2022, that the Company is electing to extend the due date of the Second Amortization Payment to May 3, 2022 (the “Second Amortization Payment Extension”) as further provided herein. If the Company exercises the Second Amortization Payment Extension, then the Second Amortization Payment shall be due on May 3, 2022 and the Company shall pay $5,376.00 (the “Second Amortization Payment Extension Fee”) to the Holder on or before April 1, 2022. For the avoidance of doubt, the Second Amortization Payment Extension shall not affect the due date of any other Amortization Payment and the Second Amortization Payment Extension Fee shall not reduce the amounts owed under the Note. The Company shall not be permitted to exercise the Second Amortization Payment Extension if an Event of Default occurs under the Note. (c) With respect to the third Amortization Payment originally due on May 3,...