Payment of Loan Payments Sample Clauses

Payment of Loan Payments. Borrower shall pay to Lender the Loan Payments in lawful money of the United States of America, in the amounts and on the dates set forth in the applicable Schedule relating to such Loan Payments.
Sample 1
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Payment of Loan Payments. The Authority shall pay or cause the Trustee to pay the principal of, premium if any, and interest on each loan made hereunder, but only out of Revenues, consisting primarily of the amounts paid by the County pursuant to the Sublease. As security for its obligation to pay the principal of, premium if any, and interest on the loan, the Authority has assigned to the Trustee all of its right to receive Base Rental Payments from the County, as well as all rights and remedies of the Authority as lessor under the Sublease and all of the Authority’s rights, title and interest in the Site Lease; provided, that so long as no Event of Default (as defined in the Sublease) shall have occurred or be continuing, the Authority shall have and may exercise all rights as lessee under the Site Lease and of the Lessor under the Sublease other than the right to receive Base Rental Payments and Additional Rental Payments due and owing under the Sublease and the right to grant any waivers to the County under the Sublease. The County, pursuant to the Sublease, shall pay to the Trustee, as the assignee of the Authority, the Base Rental Payments in lawful money of the United States of America in the amounts and on the dates set forth in the Sublease. The County hereby consents and agrees to the foregoing assignments and agrees to make the Base Rental Payments directly to the Trustee. The Lender hereby acknowledges that the Authority has no liability to make payments on the loan, except from the Base Rental Payments that are paid by the County and other Revenues under the Trust Agreement. No provision, covenant or agreement contained in this Loan Agreement or any obligation herein imposed on Authority, or the breach thereof, shall constitute or give rise to or impose upon Authority a pecuniary liability, a charge upon its general credit, or a pledge of its general revenues. The Authority has no taxing power. In making the provisions, covenants and agreements set forth in this Loan Agreement, the Authority has not obligated itself except with respect to the Revenues held by the Trustee under the Trust Agreement. The loan agreement obligations hereunder are limited obligations of the Authority and are not a lien or charge upon the funds or property of the Authority except to the extent of the aforementioned pledge and assignment. Neither the State nor the Authority shall be obligated to pay the loan or the interest thereon, except from Revenues and neither the faith and credit nor the...
Sample 1

Related to Payment of Loan Payments

  • Loan Payments (a) The Loan shall bear interest at a fixed rate per annum equal to the Note Rate. Interest shall be computed based on the daily rate produced assuming a three hundred sixty (360) day year, multiplied by the actual number of days elapsed. Except as otherwise set forth in this Agreement, interest shall be paid in arrears.

  • Repayment of Loans (a) The Borrower shall repay to the Lenders on the Maturity Date the aggregate principal amount of Committed Loans outstanding on such date.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Advance Payments Payments made by the Borrower to satisfy future installments must be accounted for as prepaid installments of principal and interest. The Servicer should contact the Borrower if there is a question about the Borrower's intention in making any unscheduled payment.

  • Payments to MAC Notes If on the Maturity Date a Class of MAC Notes that is entitled to principal is outstanding, all principal amounts that are payable by Freddie Mac on Class M Notes that were exchanged for such MAC Notes will be allocated to and payable on such MAC Notes in accordance with the exchange proportions applicable to the related Combination. The Interest Only MAC Notes are not entitled to receive payments of principal.

  • Mandatory Prepayments (a) If on any date the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from any Asset Sale or Recovery Event then, with respect to an amount equal to 75% of such Net Cash Proceeds (“Allocated Proceeds”; provided that the Borrower or such Subsidiary may instead deem a portion of such Net Cash Proceeds equal to the first 75% of the Total Net Proceeds to the Borrower or such Subsidiary from such Asset Sale or Recovery Event, when and as received, to be the Allocated Proceeds of such Asset Sale or Recovery Event), (i) if such Allocated Proceeds are not Reinvestment Proceeds, such Allocated Proceeds shall be applied on the fifth Business Day after the date such proceeds are received toward the prepayment of the Term Loans or (ii) if such Allocated Proceeds are Reinvestment Proceeds, on each Reinvestment Prepayment Date, an amount equal to the relevant Reinvestment Prepayment Amount shall be applied toward the prepayment of the Term Loans in the manner specified in Section 2.9(c); provided that, notwithstanding clauses (i) and (ii) above, to the extent that the terms of the documentation for any First Lien Notes or Pre-Existing Debt that is secured on a pari passu basis with the Obligations under this Agreement require that a portion of such Allocated Proceeds be applied to purchase First Lien Notes or Pre-Existing Debt pursuant to a mandatory offer to purchase such First Lien Notes or Pre-Existing Debt, such Allocated Proceeds may be applied to prepay Term Loans in accordance with Section 2.9(c) and purchase First Lien Notes and/or Pre-Existing Debt on a pro rata basis based on the respective amounts of Term Loans and First Lien Notes and/or Pre-Existing Debt then outstanding.

  • Special Payments Any payroll adjustment due an employee in the bargaining unit as a result of working out of class, re-computation of hours, or other reasons other than procedural errors shall be made and a supplemental check issued not later than fifteen (15) working days following notice to the payroll department.

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