Mandatory Amortization. (a) Upon the occurrence and during the continuance of a Credit Event with respect to any Purchased Loan, Buyer shall determine the Maximum Repurchase Price of such Purchased Loan on each Business Day during the existence of a Credit Event, and shall determine (i) the amount, if any, by which such Maximum Repurchase Price exceeds the Repurchase Price (excluding Price Differential) for such Purchased Loan (a “Mandatory Amortization Amount”).
Mandatory Amortization. Beginning with the fiscal quarter ending December 31, 2020, Borrower shall repay to the ratable account of the applicable Lenders the aggregate principal amount of all Initial Term Loans then outstanding in quarterly installments calculated at the applicable percentages as determined by the applicable Leverage Ratio set forth below for such time period (which installments shall, to the extent applicable, be increased as a result of any increase in the amount of Initial Term Loans pursuant to Section 2.02) as set forth on the table below (the “Mandatory Amortization”):
Mandatory Amortization. (a) Mandatory payments on account of principal of the Loan shall be due and payable as follows: (i) Borrower shall make monthly payments of principal in the amount of $24,166.67 on the first (1st) day of each month, commencing on June 1, 2004 and ending on the Maturity Date. If not earlier paid, all outstanding principal and interest under the Loan shall be due and payable on the Maturity Date.
Mandatory Amortization. Notwithstanding anything contained herein, this Section 3.02 shall not apply to Asset Sales or Net Cash Proceeds therefrom. In the event and on each occasion that any Net Cash Proceeds are received from any Real Estate Asset Sale by or on behalf of the Company, on the next succeeding Interest Payment Date, the Company shall prepay the principal of the Securities in an amount equal to the aggregate amount of such Net Cash Proceeds at a price equal to the then effective optional redemption price thereof, as set forth in Paragraph 5 of the Securities. None of such Net Cash Proceeds shall be applied towards accrued and unpaid interest on the Securities until all of the outstanding principal of the Securities has been paid. In connection with any mandatory amortization pursuant to this Section 3.02, the Company shall deliver to the Trustee a notice stating which portion of the funds delivered to the Trustee on the applicable Interest Payment Date constitutes a current or accrued interest payment and which portion will constitute amortization payments of principal to be made with Net Cash Proceeds pursuant to this Section 3.02. On the first Interest Payment Date after the date hereof, the Company shall prepay the principal of the Securities in an amount equal to $4,980,000, which shall be applied at the then effective optional redemption price thereof, as set forth in Paragraph 5 of the Securities.
Mandatory Amortization. Notwithstanding anything contained herein or in the Indenture, Section 3.02 of the Indenture shall not apply to Asset Sales or Net Cash Proceeds therefrom. In the event and on each occasion that any Net Cash Proceeds are received from a Real Estate Asset Sale by or on behalf of the Company, on the next succeeding Interest Payment Date, the Company shall prepay the principal of the Securities in an amount equal to the aggregate amount of such Net Cash Proceeds at a price equal to the then effective optional redemption price thereof, as set forth in Paragraph 5 hereof. None of such Net Cash Proceeds shall be applied towards accrued and unpaid interest on the Securities until all of the outstanding principal of the Securities has been paid. In connection with any mandatory amortization pursuant to Section 3.02 of the Indenture, the Company shall deliver to the Trustee a notice stating which portion of the funds delivered to the Trustee on the applicable Interest Payment Date constitutes interest payments and which portion will constitute amortization payments to be made with Net Cash Proceeds pursuant to Section 3.02 of the Indenture. On the first Interest Payment Date after the date hereof, the Company shall prepay the principal of the Securities in an amount equal to $4,980,000, which shall be applied at the then effective optional redemption price thereof, as set forth in Paragraph 5 hereof.
Mandatory Amortization. Borrowers shall make mandatory amortization payments, (i) on the date which is the first anniversary of the Closing Date, in an amount equal to $97,000,000 less the aggregate amount of any voluntary prepayments or mandatory prepayments made pursuant to Sections 2.03(a) and 2.03(c), respectively, on or prior to the date of such payment and (ii) on the Maturity Date, in an amount equal to the aggregate principal amount of all outstanding Loans.
Mandatory Amortization. Section 4(a) of the Repurchase Agreement is hereby deleted in its entirety and replaced with the following:
Mandatory Amortization. 15 SECTION 2.08.
Mandatory Amortization. (a) The Loans (together with accrued interest thereon) shall be due and payable according to the following schedule: Amortization Date Amount ----------------- ------ June 30, 1997 $10,000,000 September 30, 1997 $ 7,000,000 December 31, 1997 $18,000,000 April 1, 1998 $55,000,000 Each prepayment of the Loans pursuant to Section 2.08 shall reduce the required amortization payments under this subsection for the next Amortization Date.
Mandatory Amortization. Borrower shall make mandatory amortization payments, each in the amount of $15,000,000, beginning on the last day of the third month following the Closing Date, and continuing every three (3) months thereafter, until the one (1) year anniversary of the first scheduled amortization payment. Beginning on the last day of the third month following the one year anniversary of the Closing Date, Borrower shall make mandatory amortization payments, each in the amount of $30,000,000 and continuing every three (3) months thereafter until the Maturity Date.
