Payment of Principal and Interest; Default Rate Sample Clauses

Payment of Principal and Interest; Default Rate. The principal amount outstanding under the Swing Line, the Line of Credit A and the Line of Credit B shall be due and payable on the Maturity Date. Loans under the Swing Line shall be Daily Reset LIBOR Rate Loans. Loans under the Line of Credit A and Line of Credit B may, at the option of Borrower, be Base Rate Loans or LIBOR Rate Loans. Each request for LIBOR Rate Loans shall be in a minimum amount of $1,000,000 and an integral multiple of $1,000,000 and shall be subject to the restrictions set forth in the definition of Interest Period and the other restrictions set forth in this Section 2.2. Borrower shall pay interest on the unpaid principal amount of each Loan made by each Lender from the date of such Loan until such principal amount shall be paid in full, at the times and at the rates per annum set forth below:
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Payment of Principal and Interest; Default Rate. The principal amount outstanding under the Line of Credit shall be due and payable on the Maturity Date. Loans under the Line of Credit may, at the option of Borrower, be Base Rate Loans or LIBOR Rate Loans. Each request for LIBOR Rate Loans shall be in a minimum amount of $1,000,000 and an integral multiple of $1,000,000 and shall be subject to the restrictions set forth in the definition of Interest Period and the other restrictions set forth in this Section 2.2. Borrower shall pay interest on the unpaid principal amount of each Loan made by each Lender from the date of such Loan until such principal amount shall be paid in full, at the times and at the rates per annum set forth below:
Sample 1
Payment of Principal and Interest; Default Rate. Except as otherwise provided in this Agreement the principal amount outstanding under the Line of Credit Notes shall be due and payable on the Maturity Date. Except as otherwise provided in this Agreement, the principal amount outstanding under the Term Notes shall be payable in equal quarterly installments of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) commencing on the ninth (9th) day of November, 2007 and on the ninth (9th) day of each February, May, August and November thereafter, with any and all remaining principal outstanding on the Maturity Date due and payable on the Maturity Date. In the event, and to the extent that the unpaid principal balance of the Term Loan plus the Fixed Asset Component exceeds 70% of the appraised value of the Collateral consisting of real property and equipment (after given effect to sales of such Collateral), then in addition to the required quarterly payments of the principal amount outstanding under the Term Notes, Borrower shall be required to make mandatory prepayments of the principal amount outstanding under the Term Notes equal to the amount of Excess Sale Proceeds on or before the 10th day after the receipt thereof. Mandatory prepayments of the Term Loan shall be applied to required payments in inverse order of maturity. Loans under the Swing Line shall be Base Rate Loans. Loans under the Line of Credit and Term Loan may, at the option of Borrower, be Base Rate Loans or LIBOR Rate Loans. Each request for Base Rate Loans under the Line of Credit shall be in a minimum amount of $100,000. Each request for LIBOR Rate Loans shall be in a minimum amount of $3,000,000 and shall be subject to the restrictions set forth in the definition of Interest Period and the other restrictions set forth in this Section 2.2. Borrower shall pay interest on the unpaid principal amount of each Loan made by each Lender from the date of such Loan until such principal amount shall be paid in full, at the times and at the rates per annum set forth below:
Sample 1
Payment of Principal and Interest; Default Rate. The principal amount outstanding under the Swing Line and the Line of Credit shall be due and payable on the Maturity Date. Loans under the Swing Line shall be Daily Reset LIBOR Rate Loans or Base Rate Loans, as selected by the Borrower; provided, that notwithstanding anything to the contrary set forth herein, the Applicable Margin for any Swing Line Loan shall be such amount as agreed to by the Borrower and the Swing Line Lender until such time as a Matured Default is outstanding, at which time the Applicable Margin as set forth herein shall be used. Loans under the Line of Credit may, at the option of Borrower, be Base Rate Loans or LIBOR Rate Loans. Each request for LIBOR Rate Loans shall be in a minimum amount of $1,000,000 and an integral multiple of $1,000,000 and shall be subject to the restrictions set forth in the definition of Interest Period and the other restrictions set forth in this Section 2.2. Borrower shall pay interest on the unpaid principal amount of each Loan made by each Lender from the date of such Loan until such principal amount shall be paid in full, at the times and at the rates per annum set forth below:
Sample 1
Payment of Principal and Interest; Default Rate. (a) The Term Loan shall accrue interest at the Interest Rate on the basis of twelve 30-day months in a 360-day year. Interest shall accrue from the date the Effective Date (or the date the applicable Obligation is incurred or payable) until paid by the Borrower. Any interest, principal or other amounts due hereunder by the Borrower shall be paid to the Lender in immediately available funds by wire transfer to such account of the Lender as it designates in writing to the Borrower from time to time.
Sample 1
Payment of Principal and Interest; Default Rate 
Sample 1

Related to Payment of Principal and Interest; Default Rate

  • Repayment of Principal and Interest (a) The entire outstanding principal balance of the Loans shall be due and payable by no later than 5:00 p.m. (Eastern time) on the Business Day on which the Loan is due, together with all remaining accrued and unpaid interest thereon, unless an extension of no more than three additional days is authorized by the Lending Company.

  • Payment of Principal and Interest The Company covenants and agrees that it will cause to be paid the principal (including the Redemption Price and the Fundamental Change Repurchase Price, if applicable) of, and accrued and unpaid interest on, each of the Notes at the places, at the respective times and in the manner provided herein and in the Notes.

  • Payment of Principal and Interest; Defaulted Interest (a) Each Class of Notes shall accrue interest at the related Interest Rate, and such interest shall be due and payable on each Payment Date as specified therein, subject to Sections 3.01 and 11.12 hereof. Any installment of interest or principal, if any, payable on any Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check mailed first-class postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.11, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Payment Date, a Redemption Date or on the related Final Scheduled Payment Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03.

  • Payments of Principal and Interest (a) Payments on Notes issued as Book-Entry Notes will be made by or on behalf of the Indenture Trustee to the Clearing Agency or its nominee. Any installment of interest or principal payable on any Definitive Notes that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered at the close of business on the Record Date for such Payment Date by either (i) check mailed to such Person's address as it appears in the Note Register on such Record Date, or (ii) by wire transfer of immediately available funds to the account of a Noteholder, if such Noteholder (A) is the registered holder of Definitive Notes having an initial principal amount of at least $1,000,000 and (B) has provided the Indenture Trustee with wiring instructions in writing by five Business Days prior to the related Record Date or has provided the Indenture Trustee with such instructions for any previous Payment Date, except for the final installment of principal payable with respect to such Note (or the Redemption Price for any Note called for redemption, if such redemption will result in payment of the then entire unpaid principal amount of such Note), which shall be payable as provided in subsection (b) below of this Section 2.08. A fee may be charged by the Indenture Trustee to a Noteholder of Definitive Notes for any payment made by wire transfer. Any installment of interest or principal not punctually paid or duly provided for shall be payable as soon as funds are available to the Indenture Trustee for payment thereof, or if Section 5.07 applies, pursuant to Section 5.07.

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38 ARTICLE IV PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS

  • Payment of Principal, Premium and Interest The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

  • Deemed Payment of Principal and Interest; Settlement of Accrued Interest Notwithstanding Conversion If a Holder converts a Note, then the Company will not adjust the Conversion Rate to account for any accrued and unpaid interest on such Note, and, except as provided in Section 5.02(D), the Company’s delivery of the Conversion Consideration due in respect of such conversion will be deemed to fully satisfy and discharge the Company’s obligation to pay the principal of, and accrued and unpaid interest, if any, on, such Note to, but excluding the Conversion Date. As a result, except as provided in Section 5.02(D), any accrued and unpaid interest on a converted Note will be deemed to be paid in full rather than cancelled, extinguished or forfeited. In addition, subject to Section 5.02(D), if the Conversion Consideration for a Note consists of both cash and shares of Common Stock, then accrued and unpaid interest that is deemed to be paid therewith will be deemed to be paid first out of such cash.

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Interest and Interest Rate (a) The Designated Securities will bear interest from April [•], 2010 or from the most recent date through which the Issuer has paid or provided for interest on the Designated Securities at an annual rate of 3.729%.

  • Prepayment of Principal Mandatory prepayments of principal, if any, of each Series of Notes shall be determined, allocated and distributed in accordance with the procedures set forth in the applicable Series Supplement, if not otherwise described herein.

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