Notes and Note Payments Sample Clauses

Notes and Note Payments. 4.01. Notes........................................................... 30 4.02. Prepayments..................................................... 30 4.03. Payment of Interest on the Notes............................... 31 4.04. Calculation of Interest Rates.................................. 31 4.05. Manner and Application of Payments............................. 31 4.06. Pro Rata Treatment............................................. 32 4.07. Lending Office................................................. 32 4.08. Taxes.......................................................... 32 4.09. Sharing of Payments, etc....................................... 33
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Notes and Note Payments. On the Closing Date, the Borrower shall execute and deliver to the order of each Lender a Note in the amount of such Lender’s Commitment. Each Note shall be dated as of the Closing Date and shall bear interest on the unpaid principal balance from time to time outstanding at the rate of 13% per annum. Interest only on each Note shall be due and payable quarterly in arrears commencing on January 15, 2015, and continuing on the fifteenth (15) day of each April, July, October, and January thereafter through April 15, 2016. Commencing on July 15, 2016, and continuing on the fifteenth (15) day of each October, January, April and July thereafter, principal and interest shall be due and payable quarterly based upon a fifteen (15) year amortization schedule. The unpaid principal balance, and all accrued and unpaid interest, shall be due and payable on the Maturity Date. After maturity (whether by acceleration or otherwise), the Notes shall bear interest at a per annum rate equal from day to day to the Default Rate payable on demand. Interest shall be calculated on the basis of a year of 365 or 366 days, as applicable. In the event that any Lender shall receive any payments on its Note in excess of its Pro-rata Share of the payment received by all Lenders, then such Lender shall pay any excess to the other Lenders so that each Lender shall have received its Pro-rata Share of the entire payment. All payments and prepayments shall be made in lawful money of the United States of America in immediately available funds. Any payments or prepayments on the Notes received by the Lenders after 3:00 o’clock p.m. (Dallas, Texas time) shall be deemed to have been made on the next succeeding Business Day. Any voluntary prepayment shall be applied first to accrued but unpaid interest then to the next succeeding installment(s) of principal.
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Notes and Note Payments 
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Related to Notes and Note Payments

  • Payment of Notes 45 Section 4.02 Maintenance of Office or Agency................................................................ 45 Section 4.03 Reports........................................................................................ 45 Section 4.04

  • Payment of Note Principal (a) Monthly Payments During Series 2004-1 Controlled Amortization Period or Series 2004-1

  • SUBORDINATION OF NOTES Section 11.01.

  • Application of Payments to Principal and Interest Except as provided in subsection 2.2C, all payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and all such payments (and, in any event, any payments in respect of any Loan on a date when interest is due and payable with respect to such Loan) shall be applied to the payment of interest before application to principal.

  • Payment of Debentures (a) The Company shall pay the principal of and premium, if any, and interest (including interest accruing during an Extension Period and/or on or after the filing of a petition in bankruptcy or reorganization relating to the Company, whether or not a claim for post-filing interest is allowed in such proceeding) on the Debentures on or prior to the dates and in the manner provided in such Debentures or pursuant to this Junior Indenture. An installment of principal, premium, if any, or interest shall be considered paid on the applicable due date if on such date the Trustee or the Paying Agent holds, in accordance with this Junior Indenture, money sufficient to pay all of such installment then due. With respect to any Debenture, the Company shall pay interest on overdue principal and interest on overdue installments of interest (including interest accruing during an Extension Period and/or on or after the filing of a petition in bankruptcy or reorganization relating to the Company, whether or not a claim for post-filing interest is allowed in such proceeding), to the extent lawful, at the rate per annum borne by such Debenture, compounded quarterly. Interest on overdue interest shall accrue from the date such amounts become overdue.

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

  • Unconditional Rights of Noteholders to Receive Principal and Interest Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

  • Unconditional Right of Noteholders to Receive Principal and Interest Notwithstanding any other provision in this Indenture, other than the provisions hereof limiting the right to recover amounts due on the Notes to recoveries from the property comprising the Trust Estate, the Noteholder of any Note shall have the absolute and unconditional right to receive payment of the principal of, and interest on, such Note as such payments of principal and interest become due, including on the Stated Maturity, and such right shall not be impaired without the consent of such Noteholder.

  • Payment of the Notes Not later than 10:00 a.m. (New York City time) on each due date of the principal of, premium, if any, and interest on any Notes, the Company shall deposit with the Paying Agent money in immediately available funds sufficient to pay such principal, redemption payments, premium, if any, and interest so becoming due. All the payments must be in U.S. Dollars.

  • Acceleration of Payment of Notes If payment of the Notes is accelerated because of an Event of Default, the Company or the Trustee shall promptly notify the holders of the Designated Senior Debt of the Company (or their Representatives) of the acceleration.

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