Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows:
(a) Beginning on November 1, 1998, and on the first day of each month thereafter until October 1, 1999, in equal monthly installments of $99,000.00 and beginning on November 1, 1999, and on the first day of each month thereafter, in equal monthly installments of $65,000.00;
(b) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.
Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows:
(a) Be ginning on May 8, 2000, and on the first Banking Day of each week thereafter through July 31, 2000, in equal weekly installments of Twenty Five Thousand Dollars ($25,000) each; and
(b) Beginning on August 7, 2000, and on the first Banking Day of each week thereafter, in equal weekly installments of Thirty Five Thousand Dollars ($35,000) each, and
(c) On the Termination Date, the entire unpaid principal balance of the Term unpaid interest accrued thereon, shall in any event be due and payable.
Payment of Term Note. So long as no Event of Default has occurred and is continuing or will occur immediately following any such prepayment, all voluntary prepayments with respect to the Term Note shall be applied first to any accrued and unpaid interest related to the amount of such prepayment and then to the most remote principal installment or installments then unpaid. The outstanding principal balance of the Term Note shall be due and payable as follows:
(a) In equal monthly installments of $138,889, beginning on May 1, 2006, and on the first day of each month thereafter until March 1, 2008;
(b) On each of February 15, 2007 and February 15, 2008, 25% of the Borrowers’ Excess Cash Flow from the preceding fiscal year shall be due and payable and shall be applied to the most remote principal installment or installments then unpaid; provided, however, that the amount due and payable under this Section 2.5(b) shall be reduced by any prepayment of principal with respect to the Term Note that has occurred during the fiscal year by which the Excess Cash Flow is measured; and
(c) On the earlier of April 1, 2008 or the Termination Date of the Credit Facility, the entire unpaid principal balance of the Term Note and all unpaid interest accrued thereon shall also be fully due and payable.
Payment of Term Note. The outstanding principal balance of the Term Note as of December 31, 2010 shall be due and payable as follows:
(a) On January 1, 2010, a monthly installment of Twenty Thousand Eight Hundred Thirty Three Dollars ($20,833);
(b) In equal monthly installments of Fifty Two Thousand Dollars ($52,000) beginning on February 1, 2011, and on the first day of each month thereafter;
(c) If Lender at any time obtains an appraisal of the Borrowers’ Equipment the value of which was used to determine the amount of the Term Advance (the “subject Equipment”) as permitted under Section 6.9(d) herein, and the appraisal shows the aggregate outstanding principal balance of the Term Note to exceed one hundred percent (100%) of the Net Forced Liquidation Value of the subject Equipment, then the Borrowers, upon demand by Lender, shall in Lender’s discretion either make additional monthly principal payments in an amount equal to the amount of such excess divided by twelve (12) months, or immediately prepay the Term Note in the amount of such excess, in each case together with any prepayment or contracted funds breakage fee due pursuant to Section 2.8;
(d) All prepayments of principal with respect to the Term Note shall be applied to the most remote principal installment or installments then unpaid; and
(e) On the earlier of the consummation of the HK Sale or the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.
Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows:
Payment of Term Note. The outstanding principal balance of the Term Note as of June 30, 2011 shall be due and payable in full on the Termination Date.
Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows: In monthly installments commencing on March 1, 2002, and continuing on the first day of each month thereafter, in an amount equal to the greater of (1) $27,566.67 or (2) an amount sufficient to fully amortize the remaining principal balance of the Term Note over a period ending on February 1, 2007; In addition to the foregoing, on June 30, 2003, and on each June 30 thereafter, in an amount equal to 50% of the Borrower's Free Cash Flow for the immediately preceding fiscal year, which amount shall be applied by the Lender to the Obligations in such order and in such amounts as the Lender, in its discretion, may from time to time determine; In addition to the foregoing, within 30 days of any equity contribution to the Borrower, in an amount equal to 100% of such equity contribution, which amount shall be applied by the Lender to the Obligations in such order and in such amounts as the Lender, in its discretion, may from time to time determine; and On the earlier of the Maturity Date or February 1, 2007, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.
Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows:
(a) Beginning on the earlier of (i) the first day of the month following the last Term Advance and (ii) the first day of the third month following the first Term Advance, and on the first day of each month thereafter, in substantially equal monthly installments equal to an amount sufficient to fully amortize the principal balance of the Term Note over an assumed term ending on the third anniversary of the date of the first principal payment; and
(b) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable."
7. Section 3.6 of the Credit Agreement is amended by deleting the first sentence in that Section and replacing it with the following sentence: "The Borrower authorizes the Lender to file from time to time where permitted by law, such financing statements against collateral described as "all personal property" or describing specific items of collateral including commercial tort claims as the Lender deems necessary or useful to perfect the Security Interest."
Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows:
(a) In equal monthly installments of $5,555.56, beginning on January 1, 2007, and on the first day of each month thereafter; and
(b) If the Lender at any time obtains an appraisal of the Equipment as permitted under Section 6.9
Payment of Term Note. The outstanding principal balance of the Term Note shall be due and payable as follows:
(i) Beginning on October 31, 1999, and on the last day of each month thereafter, in equal monthly installments of an amount sufficient to fully amortize the principal balance of the Term Note over an assumed term of sixty (60) months; provided, however, that if Borrower shall make any prepayment on the Term Note as a result of the Transaction, then beginning on the last day of the calendar month during which such prepayment was made and on the last day of each month thereafter, the monthly installments of principal on the Term Note shall be made in a revised amount, which amount shall be sufficient to fully amortize the remaining principal balance of the Term Note following such prepayment over an assumed term of 60 months from the date of such prepayment; and
(ii) On the Termination Date, the entire unpaid principal balance of the Term Note, and all unpaid interest accrued thereon, shall in any event be due and payable.
