Installment Loan Sample Clauses

Installment Loan. If the Borrowers are in full and complete compliance with the terms of this Agreement, upon the written election of the Borrowers to the Agent, the Banks agree to loan to the Borrowers an amount equal to the then outstanding principal balance of the Credit Enhanced Notes, plus accrued interest thereon to the date of redemption, which loan shall be used by the Borrowers for the sole purpose of redeeming the Credit Enhanced Notes in full. Such loan shall be an installment loan obligation payable over a term of four (4) years in equal quarterly payments of principal calculated on a seven (7) year amortization of such principal amount and a final principal payment in the amount of the remaining outstanding principal loan amount. Such installment loan shall bear interest payable quarterly in arrears on the same date as each principal payment is due and at a rate per annum equal to the 3-month LIBOR rate, as reported in the Wall Street Journal, plus the Applicable Margin for LIBOR Advances plus 25 basis points, adjusted each ninety (90) days. Upon receipt by the Agent of notice of any such election by the Borrowers, the Agent shall immediately notify the Banks of such election. Three (3) Banking Days after receipt of such notification, Harrxx xxx NBD shall each transfer to the Agent by wire transfer or deposit to any correspondent account which Agent may maintain with such Bank an amount equal to thirty percent (30%) of the principal amount of the loan as provided above in this Section 3.2 and UMB shall immediately transfer forty percent (40%) of such amount to the Agent. Upon receipt by the Agent of notes executed by the Borrowers in the form of Exhibit E attached hereto payable to each of the Banks in each Bank's Pro Rata Share of such loan, the Agent shall disburse the amount of the loan to the Borrowers by depositing the same in the Company's account at UMB, and the Borrowers hereby authorize the disbursement of the loan in such manner. The Agent shall handle the notes in the form of Exhibit E attached hereto and all collections thereon in the same manner as provided in this Agreement for collections on Revolving Credit Loans as respects the Banks."
Sample 1
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Installment Loan. Pursuant to the Existing Agreement, the Company has borrowed from the Bank an installment loan in the original principal amount of $43,275.10 (herein called the "Installment Loan"). 1.2
Sample 1
Installment Loan. In addition to the Revolving Loan, contemporaneously with the execution of this Agreement, Lenders shall make an installment loan (the "Installment Loan") to Borrower in the aggregate principal amount of One Million Two Hundred Thousand Dollars ($1,200,000.00). The Installment Loan shall be secured by the Collateral Documents, is specifically included with the Obligations as defined herein, and shall bear interest at the rate of the Corporate Base Rate as changing from time to time. Borrower shall repay the Installment Loan through payments of interest only at the Corporate Base Rate commencing on the first day of October and on the first day of each month thereafter together with annual principal payments of Four Hundred Thousand Dollars ($400,000.00) commencing on December 31, 1998 and on the last day of each December thereafter with a final payment of the then full principal balance of the Installment Loan together with all remaining accrued interest on October 31, 2000. The Installment Loan may be prepaid at any time without penalty or premium. Any prepayment shall be applied to the payments due on the Installment Loan in the inverse order of their maturity.
Sample 1

Related to Installment Loan

  • 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.

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

  • Optional Principal Payments 11 2.8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Scheduled Principal Payments The Borrower shall make payments of principal to Holder as follows: (i) on the first anniversary of this Note, the sum of $279,500, which represents 10% of original principal amount of this Note, (ii) on the second anniversary of this Note, the sum of $1,118,000, which represents 40% of original principal amount of this Note, and (iii) on May 18, 2010 (the “Maturity Date”), a final payment of the sum of the outstanding principal balance of this Note, including the amount of any PIK Interest, together with accrued and unpaid interest thereon, and all other obligations and indebtedness owing hereunder, if not sooner paid.

  • 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.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

  • Interest Loan Payments Late Payment Charge 43 2.2.1 Payments. 43 2.2.2 Interest Calculation. 44

  • Monthly Payment 17 Mortgage......................................................................................17

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Loan Payment Payments of principal, interest, and Late Charges (as defined in the Note) shall be made as provided in the Note.

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