First Repayment Clause Samples

The 'First Repayment' clause defines the timing and conditions under which the initial payment on a loan or financial obligation must be made. Typically, this clause specifies the exact date or period after the loan is disbursed when the borrower is required to make their first repayment, and may outline the amount due or the calculation method for that payment. By clearly establishing when the first payment is expected, this clause helps prevent confusion or disputes regarding payment schedules and ensures both parties are aligned on the commencement of repayment obligations.
First Repayment. The first repayment shall occur on 30 September 2013.
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First Repayment. 6.2.1 Not later than the first (1st) 31 March or 30 September immediately following the fourth (4th) anniversary of the first Advance under Tranche A (the “Scheduled First Repayment Date”), the Borrower will repay an amount which will reduce the aggregate Advances outstanding (other than under Tranche E) to no more than the Required Level (the “First Repayment”). 6.2.2 The First Repayment will be applied to the Tranches in the following order: (a) first, for the repayment of 70 % of Tranche D2; (b) second, for the repayment of 70 % of Tranche D1; (c) third, for the repayment of 70 % of Tranche C; (d) fourth, for the repayment of part of any Sub-Tranche B1 to B3; (e) fifth, for the repayment of Tranche A.
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First Repayment. (i) The Borrower shall make the first repayment on the First Repayment Date; (ii) On the First Repayment Date, the Company shall be entitled to offset the Tranche B Cash Payment with the Loan. If the Tranche B Cash Payment is equal to or more than the Loan (including accrued interest), the Borrower does not need to repay the Loan and the Loan shall be deemed as having been repaid in full; (iii) If the Tranche B Cash Payment is less than the Loan (including accrued interest), the difference between the Loan (including accrued interest) and Tranche B Cash Payment (“Tranche B Repayment”) shall be repaid by the Borrower to the Company on the Second Repayment Date.
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First Repayment. 6.2.1 Not later than the first (1st) 31 March or 30 September immediately following the fourth (4th) anniversary of the first Advance under Tranche A (the “Scheduled First Repayment Date”), the Borrower will repay an amount which will reduce the aggregate Advances outstanding (other than under Tranche E) to no more than the Required Level (the “First Repayment”). 6.2.2 The First Repayment will be applied to the Tranches in the following order:
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Related to First Repayment

  • Early Repayment The borrower is entitled to repay the loan including accumulated interest in one lump sum at any time, including before the end of the term of the loan. A prepayment penalty shall not be due. The lender is entitled to recall the loan effective immediately, if the borrowers’ financial circumstances deteriorate considerably, thus putting the claim of repayment at risk.

  • Repayment If the Issuer or the Administrator makes a payment to an Indemnified Person under this Section 4.6 and the Indemnified Person later collects from others any amounts for which the payment was made, the Indemnified Person will promptly repay those amounts to the Issuer or the Administrator, as applicable.

  • Optional Repayment If so indicated in the Accumulation Fund Schedule, GLAIC shall pay to the Policyholder the amount the Policyholder needs to redeem or repay any notes or other instruments issued by the Policyholder and backed by this Policy, pursuant to any limited right of redemption or repayment contained in such note or instrument. GLAIC may require reasonable evidence that the redemption or repayment request satisfies all the terms and conditions described in the prospectus, prospectus supplement and/or pricing supplement applicable to such note or other instrument. Additional restrictions, if any, on the Policyholder’s reimbursement rights under this Section may be included in the Accumulation Fund Schedule.

  • Loan Repayment Upon the terms and conditions of this Agreement, the Issuer agrees to make the Loan to the Company. The proceeds of the Loan shall be deposited with the Trustee pursuant to Section 3.3 hereof. In consideration of and in repayment of the Loan, the Company shall make, as Loan Payments, to the Trustee for the account of the Issuer, payments which correspond, as to time, and are equal in amount as of the Loan Payment Date, to the corresponding Bond Service Charges payable on the Bonds. All Loan Payments received by the Trustee shall be held and disbursed in accordance with the provisions of the Indenture and this Agreement for application to the payment of Bond Service Charges. The Company shall be entitled to a credit against the Loan Payments required to be made on any Loan Payment Date to the extent that the balance of the Bond Fund is then in excess of amounts required (a) for the payment of Bonds theretofore matured or theretofore called for redemption, or to be called for redemption pursuant to Section 6.1 hereof (b) for the payment of interest for which checks or drafts have been drawn and mailed by the Trustee or Paying Agent, and (c) to be deposited in the Bond Fund by the Indenture for use other than for the payment of Bond Service Charges due on that Loan Payment Date. Except for such interest of the Company as may hereafter arise pursuant to Section 8.2 hereof or Sections 5.06 or 5.07 of the Indenture, the Company and the Issuer each acknowledge that neither the Company, the State nor the Issuer has any interest in the Bond Fund or the Bond Purchase Fund, and any moneys deposited therein shall be in the custody of and held by the Trustee in trust for the benefit of the Holders.

  • Securing Repayment In order to secure repayment of the Fund’s obligations to the Custodian, the Fund hereby agrees that the Custodian shall have, to the maximum extent permitted by law, a continuing lien and security interest in, and right of setoff against: (a) all of the Fund’s right, title and interest in and to all Accounts in the Fund’s name and the Securities, money and other property now or hereafter held in such Accounts (including proceeds thereof) and (b) any other property at any time held by the Custodian for the Fund. In the event the Custodian has such a legally permissible continuing lien and security interest, the Custodian shall be entitled to collect from the Accounts sufficient cash for reimbursement, and if such cash is insufficient, to sell the Securities in the Accounts to the extent necessary to obtain reimbursement (but only to the extent permitted by the 1940 Act). In this regard, the Custodian shall be entitled to all the rights and remedies of a pledgee and secured creditor of a registered investment company under applicable laws, rules or regulations as then in effect.