MAY PAYMENT Sample Clauses

MAY PAYMENT. The Company agrees that as to the regularly scheduled interest payment on the Subordinated Notes due May 15, 2002 which the Company elects to make to the holders of such Subordinated Notes, (and so long as no Event of Default has occurred and is continuing hereunder pursuant to which the Agent and the Banks have delivered a Payment Blockage Notice (as such term is defined in the Subordinated Debt Documents)), unless the Company funds such payment with the proceeds of an Equity Issuance or the proceeds of any Indebtedness which is consented to by the Majority Banks and containing terms and conditions (including subordination provisions) acceptable to the Majority Banks, the Company shall make a request for a Revolving Credit B Loan in an amount equal to one hundred percent (100%) of the amount of such interest payment and use the proceeds thereof to fund one hundred percent (100%) of such interest payment, and the Revolving Credit B Banks agree, subject to compliance with the conditions of this Credit Agreement, to make such a Revolving Credit B Loans to the Company (such Revolving Credit B Loans being hereinafter referred to as a "May Subdebt Funding Loan" and, collectively with the November Subdebt Funding Loan, the "Subdebt Funding Loans"). The Revolving Credit B Banks hereby agree that any such May Subdebt Funding Loan (and, during an Event of Default which has occurred and is continuing pursuant to Section 13.1(a) or (b) of the Credit Agreement as it relates to the Revolving Credit A Loans and the Term Loans, any interest thereon) shall be junior in right of payment to the Revolving Credit A Loans and the Term Loans, all as more fully set forth in this Credit Agreement.
Sample 1
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MAY PAYMENT. HEC will pay to FTI an additional $1,550,000 (the "Second May Payment") on the first business day after the date on which the following conditions have been satisfied; PROVIDED, that HEC shall have no obligation to make such additional payment, or any part thereof, if such conditions have not been satisfied by the close of business on May 15, 1998:
Sample 1

Related to MAY PAYMENT

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

  • Payment Due 29 12.3. Accountability..................................................29 12.4. Proration.......................................................29 12.5. Set Off.........................................................29 12.6. Disputed Charges................................................29 12.7. Encumbrances....................................................29

  • Interim Payment Unless the Funding Date for a Loan is the first day of a calendar month, Borrower shall pay the per diem interest (accruing at the Loan Rate from the Funding Date through the last day of that month) payable with respect to such Loan on the first Business Day of the next calendar month.

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Premium Payment The Bank shall pay any premiums due on the Policy.

  • Payment of Reimbursement Amount To effect the expense reimbursement provided for in this Agreement, the Fund may offset the appropriate Reimbursement Amount against the management fees, Rule 12b-1 fees and/or shareholder servicing fees payable under the Investment Management Agreement, Rule 12b-1 Plan and/or the Shareholder Servicing Agreement. Alternatively, the Reimbursement Amount shall be paid directly by IICO, IDI and/or WISC. Such offset shall be taken, or such direct payment shall be paid, two times per year within 30 days following the date of a Fund’s applicable semi-annual or annual reporting period.

  • Upfront Payment The Opt-In Party will pay to Regulus, within 15 days following the end of the Initial Opt-In Election Period, a one-time payment of [***] Dollars ($[***]).

  • Non-Payment The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of principal of any Loan or any L/C Obligation, or (ii) within three days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due hereunder, or (iii) within five days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or

  • Non-Business Day Payments Whenever any payment shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day.

  • Delay of Payment when Payment Date is Not a Business Day If the due date for a payment on a Note as provided in this Indenture is not a Business Day, then, notwithstanding anything to the contrary in this Indenture or the Notes, such payment may be made on the immediately following Business Day and no interest will accrue on such payment as a result of the related delay. Solely for purposes of the immediately preceding sentence, a day on which the applicable place of payment is authorized or required by law or executive order to close or be closed will be deemed not to be a “Business Day.”

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