Maximum Principal Balance of Loan Sample Clauses

Maximum Principal Balance of Loan. Notwithstanding anything to the contrary set forth in the Loan Agreement, the Borrowers hereby covenant to the Lenders that the outstanding principal balance of the Loan on the following dates shall not exceed 105% of the following amounts: (i) $54,000,000 on Xxxxx 00, 0000, (xx) $41,000,000 on June 30, 1999, and (iii) $12,000,000 on September 30, 1999. For purposes of determining compliance with the terms of this covenant, the outstanding principal balance shall be deemed to have been reduced by the amounts of any Unit sales proceeds being held by the Title Company and not yet delivered to the Lenders as of the date of such determination. A breach of the foregoing covenant shall constitute an immediate Event of Default under the Loan Agreement.
Sample 1
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Related to Maximum Principal Balance of Loan

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,493,405.52.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • Outstanding Principal Balance Each Receivable has an outstanding principal balance of at least $500.

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10

  • Amount of Loan The Loan shall comprise the aggregate amount of Tranches disbursed by the Bank under the Credit, as confirmed by the Bank pursuant to Article 2.03.

  • Loan Amount Party A agrees, subject to the terms and conditions of this Agreement, to extend the Loan to Party B and Party C in a total amount of RMB 10,000,000, of which 80% shall be for the benefit of Party B and the remaining 20% shall be for the benefit of Party C. The Loan shall be interest-free.

  • Aggregate Principal Amount The aggregate principal amount of the Senior Notes that may be authenticated and delivered under this First Supplemental Indenture shall be unlimited; provided that the Obligor complies with the provisions of this First Supplemental Indenture.

  • Interest Rate Subject to Section 2.5(b), the principal amount outstanding under the Revolving Line shall accrue interest a floating per annum rate equal to the greater of (i) one quarter of one percentage point (0.25%) above the Prime Rate, or (ii) three and one half percentage points (3.50%), which interest shall, in each case, be payable monthly in accordance with Section 2.5(d) below.”

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