Amortized Payments Clause Samples

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Amortized Payments. As of the end of each calendar quarter during the Project, the rent shall be increased as follows. The Total Quarterly Project Payments for each calendar quarter, together with interest at the rate of 10% per annum, amortized over the period of time from the end of the subject calendar quarter through December 31, 2013, results in a certain monthly amortized payment of principal and interest, hereinafter called the "Amortized Payment." The current monthly base rent of $30,000 shall be increased by the amount of each Amortized Payment effective on the first day of the month following each calendar quarter. The foregoing calculation shall be made as of the end of each calendar quarter, and the Amortized Payment resulting from such calculation shall be added to the monthly base rent and shall be payable as additional rent for the entire amortization period through December 31, 2013. Accordingly, all Amortized Payments for the Project shall be paid in full as of December 31, 2013. Lessee may prepay and pay off the remaining principal balance for any or all Amortized Payments, at any time, without any prepayment penalty. Notwithstanding anything to the contrary contained in the Lease, there shall be no rental escalations (as described in paragraph 8 below) in the portion of the rent that constitutes the Amortized Payments.
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Amortized Payments. For purposes of this Amendment, the “Amortized Payment” shall mean (i) for all Service Areas cumulatively, the monthly payment that amortizes a principal amount of [* * *]Dollars (US$[* * *]) over seventeen (17) months with an interest rate equal to the Seventeen Month LIBOR, as defined in Section 4.4, plus 532 basis points, _ Yes payable in seventeen (17) equal monthly installments, and (ii) for any single Service Area, the monthly payment that amortizes a principal amount of [* * *] Dollars ($[* * *] over seventeen (17) months with an interest rate equal to the Seventeen Month LIBOR, as defined in Section 4.4, plus 532 basis points, payable in seventeen (17) equal monthly installments as set forth in Section 4.2.
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Amortized Payments. Borrower shall make monthly payments of principal and Regular Interest, in arrears, on each and every Regular Interest Payment Date during the term of the Loan without set-off, deduction, demand or notice of any kind or nature whatsoever; provided, however, that if the Closing Date falls on any date which is not the first (1st) day of a calendar month, then the first (1st) payment of Regular Interest (which shall be a pro-rated amount of Regular Interest only based on the number of days from and including the Funding Date to the first (1st) Regular Interest Payment Date following the Funding Date), shall be made on the Funding Date (and, at Lender's sole option, deducted from the Loan Amount), and the first (1st) amortized payment of principal and Regular Interest shall be due on the second Regular Interest Payment Date following the Funding Date. Borrower's monthly payments of principal and Regular Interest shall be calculated on the basis of a three hundred sixty (360) day year and a twenty-five (25) year amortization, as described in Section 5.4, above, and shall increase as the Regular Interest Rate increases, as set forth in Section 5.5, above. On the Maturity Date, the entire outstanding principal balance of the Loan, together with any and all accrued and unpaid Regular Interest, and all other amounts, of any kind or nature whatsoever, owing by Borrower to Lender under the Loan Documents shall be fully due and payable to Lender.
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Amortized Payments. Payment of the outstanding principal balance under the Term Loan shall be due and payable by the Borrowers on the first day of each calendar month commencing on December 1, 2005 and ending on November 1, 2010 in the amount of US$19,450.
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Amortized Payments. Commencing on the first day of the 25th calendar month after the Closing Date and on the first day of each month thereafter, Borrower shall make monthly amortized payments of principal and interest sufficient to amortize the remaining unpaid principal balance at the Pay Rate as it may adjust from time to time based on an amortization schedule of fifteen (15) years.
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Related to Amortized Payments

  • Returned Payments If after receipt of any payment which is applied to the payment of all or any part of the Obligations (including a payment effected through exercise of a right of setoff), the Administrative Agent or any Lender is for any reason compelled to surrender such payment or proceeds to any Person because such payment or application of proceeds is invalidated, declared fraudulent, set aside, determined to be void or voidable as a preference, impermissible setoff, or a diversion of trust funds, or for any other reason (including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion), then the Obligations or part thereof intended to be satisfied shall be revived and continued and this Agreement shall continue in full force as if such payment or proceeds had not been received by the Administrative Agent or such Lender. The provisions of this Section 2.21 shall be and remain effective notwithstanding any contrary action which may have been taken by the Administrative Agent or any Lender in reliance upon such payment or application of proceeds. The provisions of this Section 2.21 shall survive the termination of this Agreement.

  • Other Authorized Payments For other authorized transactions of the Fund, or other obligations of the Fund incurred for proper Fund purposes; provided that before making any such payment the Bank will also receive a certified copy of a resolution of the Board signed by an Authorized Person (other than the Person certifying such resolution) and certified by its Secretary or Assistant Secretary, naming the person or persons to whom such payment is to be made, and either describing the transaction for which payment is to be made and declaring it to be an authorized transaction of the Fund, or specifying the amount of the obligation for which payment is to be made, setting forth the purpose for which such obligation was incurred and declaring such purpose to be a proper corporate purpose.

  • 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.

  • Yield Payments On the Settlement Date for each Purchaser Interest of the Financial Institutions, Seller shall pay to the Agent (for the benefit of the Financial Institutions) an aggregate amount equal to the accrued and unpaid Yield for the entire Tranche Period of each such Purchaser Interest in accordance with Article II.

  • Permitted Payments Until such time as all of the Senior Indebtedness has been Paid in Full, Borrower may pay to the Subordinated Creditors, and the Subordinated Creditors may accept from the Borrower (collectively, the “Permitted Payments”) only: (i) Any payments of interest with respect to the Subordinated Indebtedness that are paid “in kind,” whether capitalized and added to then outstanding principal amount of the Subordinated Indebtedness or accrued or accreted as unpaid interest so long as such payments “in kind” do not become obligations for payment of cash, securities or any other form of payment (other than in each case in the form of Subordinated Securities) until the earlier of (x) after all of the Senior Indebtedness has been Paid in Full or (y) the scheduled maturity date of the Subordinated Indebtedness (it being acknowledged and agreed by the Subordinated Creditors that such scheduled maturity date will be automatically extended (without any action by the Borrower or any Subordinated Creditor) by a number of days that the maturity date of the Senior Indebtedness is extended provided that such scheduled maturity date may not be extended by more than 180 days without the consent of each Subordinated Creditor); (ii) Payment of all or any portion of principal or interest on the Subordinated Indebtedness, so long as on the date of any proposed payment, (x) Quarterly Adjusted Continuing Business EBITDA for the two immediately preceding calendar quarters was greater than $5,000,000 for each such quarter, (y) Borrower is in compliance with all covenants and requirements set forth in the Senior Loan Agreement without giving effect to the amendments to the Senior Loan Agreement set forth in Section 4 of the First Amendment, and (z) no default or event of default exists under the Senior Loan Agreement or any other Loan Document, and no default would occur under the Senior Loan Agreement or any other Loan Document as a result of such payment; (iii) Payments of principal and accreted or accrued interest upon the occurrence of a Change in Control (as defined in the Subordinated Documents as in effect on the date hereof) and the declaration of an “Event of Default” under the Subordinated Documents in accordance with the terms thereof, but only to the extent that the Senior Creditor has consented in writing to such Change in Control or has waived (or agreed to forbear from exercising remedies in connection with) in writing any Event of Default under the Loan Documents that may have occurred as a result of such Change in Control; and (iv) Reimbursement of reasonable out-of-pocket costs and expenses (including without limitation, attorney fees) due and owing to any Subordinated Creditor; provided, in the case of clauses (iii) and (iv) only if such payments are payments made in accordance with the terms of the Subordinated Documents as in effect on the date hereof or as modified in accordance with the terms of this Agreement.