Payment Amortization Sample Clauses

Payment Amortization. Commencing July 1, 2013, and continuing through September 30, 2014, on the first day of each calendar quarter the Borrower shall pay PCC, for PCC and as agent for PCCA, interest that accrued during the preceding quarter. Commencing on October 1, 2014 and continuing through May 1, 2016, on the last day of each subsequent three (3) month period (each a “Quarter”) the Borrower shall pay PCC, for PCC and as agent for PCCA, a principal installment of One Hundred and Thirty-Five Dollars ($135,000), plus interest that has accrued during the preceding Quarter. PCC shall pay PCCA the amounts of principal and interest due under Term Note II in accordance with the Agency Agreement.
Sample 1Sample 2
AutoNDA by SimpleDocs
Payment Amortization. Commencing March 31, 2011, and continuing for thirty-five (35) months, the Borrower shall pay Lender equal monthly Principal installments of sixty thousand dollars ($60,000), plus accrued interest. On each of September 30, 2012 and September 30, 2013, the Borrower shall pre-pay unpaid principal, in an amount equal to fifty percent (50%) of Excess Cash Flow from Borrower’s immediately preceding fiscal year which prepayment shall be applied to the principal balance of the Term Note in the inverse order of maturity thereof.
Sample 1
Payment Amortization. (i) Each Additional Bank shall pay to the Agent for the account of the other Banks an amount equal to its Percentage of outstanding Revolving Credit Advances, (ii) each Increasing Bank shall pay to the Agent for the account of the other Banks the amount necessary so that such Increasing Bank has advanced an amount equal to its Percentage (as adjusted in accordance with subsection (d) of this Section 2.10) of outstanding Revolving Credit Advances, and (iii) such amount so paid by each Additional Bank and each Increasing Bank shall constitute a Revolving Credit Advance by such Additional Bank or Increasing Bank under its Revolving Credit Note and a payment of principal to the other Banks under their respective Revolving Credit Notes and the outstanding principal balances of the respective Revolving Credit Notes shall be increased or reduced accordingly.
Sample 1
Payment Amortization. (i) Each Additional Bank shall pay to the Agent for the account of the other Banks an amount equal to its Percentage of outstanding Revolving Credit Advances or Term Loan Advances, as applicable, (ii) each Increasing Bank shall pay to the Agent for the account of the other Banks the amount necessary so that such Increasing Bank has advanced an amount equal to its Percentage (as adjusted in accordance with subsection (d) of this Section 2.10) of outstanding Revolving Credit Advances or Term Loan Advance, as applicable, and (iii) such amount so paid by each Additional Bank and each Increasing Bank shall constitute a Revolving Credit Advance or Term Loan Advances, as applicable, by such Additional Bank or Increasing Bank under its Revolving Credit Note or Term Loan Note, as applicable, and a payment of principal to the other Banks under their respective Revolving Credit Notes or Term Loan Notes, as applicable, and the outstanding principal balances of the respective Revolving Credit Notes or Term Loan Notes, as applicable, shall be increased or reduced accordingly, and the scheduled amortization of the Term Loan Advances shall be adjusted such that no greater than 45% of the Increase Amount is payable with the final scheduled principal installment thereof.
Sample 1
Payment Amortization. (i) Each Additional Lender shall pay to the US Administrative Agent for the account of the other US Lenders an amount equal to its Percentage of outstanding US Revolving Credit Advances, (ii) each Increasing Lender shall pay to the US Administrative Agent for the account of the other US Lenders the amount necessary so that such Increasing Lender has advanced an amount equal to its Percentage (as adjusted in accordance with subsection (d) of this Section 2.10) of outstanding US Revolving Credit Advances, and (iii) such amount so paid by each Additional Lender and each Increasing Lender shall constitute a US Revolving Credit Advance by such Additional Lender or Increasing Lender under its US Revolving Credit Note and a payment of principal to the other US Lenders under their respective US Revolving Credit Notes and the outstanding principal balances of the respective US Revolving Credit Notes shall be increased or reduced accordingly.
Sample 1

Related to Payment Amortization

  • 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.

  • Negative Amortization To the extent any Mortgage Loan provides for negative amortization, such as a GPM or GPARM Loan, the Servicer must assure that the Unpaid Principal Balance of such Mortgage Loan never exceeds the related Maximum Negative Amortization Amount, and that the related Monthly Payment is recast as provided for in the Mortgage Note such that the balance fully amortizes within the remaining term of such Mortgage Loan.

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Early Amortization Events If any one of the following events shall occur:

  • Collections Following Amortization On the Amortization Date and on each day thereafter, Servicer shall set aside and hold in trust for the benefit of Agent and the Purchasers, in the Collection Accounts in the manner set forth in Sections 7.1(j) and 8.2, all Collections and/or Deemed Collections received on such day and any additional amount for the payment of any Aggregate Unpaids owed by Seller and not previously paid by Seller in accordance with Section 2.1. On and after the Amortization Date, Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) Agent (i) remit to the Second-Tier Account the amounts set aside pursuant to the preceding sentence (to the extent such amounts are not already on deposit therein) and (ii) apply such amounts at Agent’s direction to reduce the Aggregate Capital and any other Aggregate Unpaids (it being understood and agreed that, in any event, no portion of the RPA Deferred Purchase Price may be paid to Seller on a date on or after the Amortization Date and prior to the Final Payout Date). If there shall be insufficient funds on deposit for Servicer to distribute funds in payment in full of the aforementioned amounts, Servicer shall distribute funds in accordance with the applicable Payment Instructions: first, to the reimbursement of Agent’s and each Purchaser’s costs of collection and enforcement of this Agreement, second, ratably to the payment of all accrued and unpaid fees under any Fee Letter and all accrued and unpaid Purchaser Yield, third, to the payment of Servicer’s reasonable out-of-pocket costs and expenses in connection with servicing, administering and collecting the Receivables, including the Servicing Fee, if Seller, or one of its Affiliates is not then acting as Servicer, fourth, to the ratable reduction of Aggregate Capital to zero, fifth, for the ratable payment of all other unpaid Obligations, provided that to the extent such Obligations relate to the payment of Servicer costs and expenses, including the Servicing Fee, when Seller or one of its Affiliates is acting as Servicer, such costs and expenses will not be paid until after the payment in full of all other Obligations, sixth, to the ratable payment in full of all other Aggregate Unpaids, and seventh, after the Facility Termination Date when the Aggregate Unpaids have been indefeasibly reduced to zero, to Seller as RPA Deferred Purchase Price, any remaining Collections.

  • Amortization Such Mortgage Loan does not provide for negative amortization unless such Mortgage Loan is an ARD Mortgage Loan, in which case it may occur only after the Anticipated Repayment Date.

Time is Money Join Law Insider Premium to draft better contracts faster.