Mandatory Installment Payments Sample Clauses

Mandatory Installment Payments. The principal balance of the Term Loan shall be payable in sixty (60) monthly installments, each due on the first Business Day of each month beginning on December 1, 2000 and continuing on the first Business Day of each month thereafter. Each of the first fifty nine (59) such monthly principal installments shall be in the amount equal to one-hundred twentieth (1/120th) of the original principal amount of the Term Loan and the sixtieth (60th) such monthly principal installment shall be in an amount equal to the then outstanding principal balance of the Term Loan.
Sample 1
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Mandatory Installment Payments. The principal balance of the Term Loan Note shall be payable in twenty (20) quarterly principal installments, each due on the last Business Day of each calendar quarter beginning on the last Business Day of March, 1999 and continuing on the last Business Day of each calendar quarter thereafter. Each of the first four (4) such quarterly principal installments shall be in the amount of $150,000.00; each of the next four (4) such quarterly principal installments shall be in the amount of $250,000.00; each of the next eight (8) such quarterly principal installments shall be in the amount of $312,500.00; each of the next three (3) such quarterly principal installments shall be in the amount of $400,000.00; and the twentieth (20th) such quarterly principal installment shall be in an amount equal to the then outstanding principal balance of the Term Loan Notes.
Sample 1
Mandatory Installment Payments. Except as provided in subparagraph (b) below, on May 31, 1996 and on each May 31st thereafter through the May 31st next preceding the Termination Date, (each such May 31st is hereinafter called a "Payment Date") Borrower shall pay to Lender an installment of the principal amount of the Loans in an amount equal to the lesser of (1) the then-outstanding principal balance of the Loans or (2) $250,000 plus (if positive) 50% of the estimated Cash Flow for the fiscal year ending on the next succeeding September 30th; provided, however, that in no event shall the installment payment required pursuant to this Section 2.3(a) be more than $750,000. On the December 31st following each Payment Date, the payments will be adjusted either upward or downward, as necessary, to equal the amount that would have been payable on such Payment Date based upon the actual Cash Flow for the fiscal year ending on the September 30th immediately following the Payment Date. Any such adjustments shall, as appropriate, either be added to or subtracted from the then-outstanding principal balance of the Loans.
Sample 1

Related to Mandatory Installment Payments

  • 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.

  • Treatment of Installment Payments Each payment of termination benefits under this Agreement shall be considered a separate payment, as described in Treas. Reg. Section 1.409A‑2(b)(2), for purposes of Section 409A of the Code.

  • Distributions Payable in Cash; Redemption Payments In the event that the Board of the Investment Company shall declare a distribution payable in cash, the Investment Company shall deliver to FTIS written notice of such declaration signed on behalf of the Investment Company by an officer thereof, upon which FTIS shall be entitled to rely for all purposes, certifying (i) the amount per share to be distributed, (ii) the record and payment dates for the distribution, and (iii) that all appropriate action has been taken to effect such distribution. Once the amount and validity of any dividend or redemption payments to shareholders have been determined, the Investment Company shall transfer the payment amounts from the Investment Company's accounts to an account or accounts held in the name of FTIS, as paying agent for the shareholders, in accordance with any applicable laws or regulations, and FTIS shall promptly cause payments to be made to the shareholders.

  • Redemption Payments Upon receipt of monies paid to it by the Custodian with respect to any redemption of Series shares, pay or cause such monies to be paid pursuant to instructions by the appropriate Account or Institution.

  • Mandatory Payments The Loans shall be subject to mandatory repayment or prepayment (in the case of any partial prepayment conforming to the requirements as to the amounts of partial prepayments set forth in Section 2.13(a) above), and the LC Outstandings shall be subject to cash collateralization requirements, in accordance with the following provisions:

  • 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.

  • Amortization Payments The Company shall make three payments (each an “Amortization Payment”) as follows: on the six-month anniversary of the Original Issue Date, on the seven-month anniversary of the Original Issue Date, and on the Maturity Date (each such date a “Payment Date”), provided that if any Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day. Each Amortization Payment shall be equal to one-third of the original principal amount of the Note, plus all accrued interest thereon as of the Payment Date, as adjusted pursuant to Section 2(c) below. At the Holder’s option (except as set forth herein), payment may be made in cash or in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock, provided the Company complies with the Equity Conditions provided in Section 2(d), below.

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Mandatory Payment (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Commitment Amount as then in effect, Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment Amount.

  • Payment Amount Each Restricted Stock Unit represents one (1) Share of Common Stock.

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