Common use of Payments and Maturity Clause in Contracts

Payments and Maturity. The unpaid Principal Sum, together with interest thereon at the rate or rates provided above, shall be payable as follows: (a) Interest only on the unpaid Principal Sum shall be due and payable in accordance with Section 2.5.3 (Payment of Interest) of the Financing Agreement; and (b) Unless sooner paid, the unpaid Principal Sum, together with interest accrued and unpaid thereon, shall be due and payable in full on the Revolving Credit Termination Date (as defined in the Financing Agreement). The fact that the balance hereunder may be reduced to zero from time to time pursuant to the Financing Agreement will not affect the continuing validity of this Note or the Financing Agreement, and the balance may be increased to the Principal Sum after any such reduction to zero.

Appears in 3 contracts

Samples: Post Petition Financing Agreement (Tvi Corp), Revolving Credit Note (Tvi Corp), Revolving Credit Note (Tvi Corp)

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Payments and Maturity. The unpaid Principal Sum, together with interest thereon at the rate or rates provided above, shall be payable as follows: (a) Interest only on the unpaid Principal Sum shall be due and payable in accordance with Section 2.5.3 2.4.4 (Payment of Interest) of the Financing Agreement; and (b) Unless sooner paid, the unpaid Principal Sum, together with interest accrued and unpaid thereon, shall be due and payable in full on the Revolving Credit Termination Date (as defined in the Financing Agreement). The fact that the balance hereunder may be reduced to zero from time to time pursuant to the Financing Agreement will not affect the continuing validity of this Note or the Financing Agreement, and the balance may be increased to the Principal Sum after any such reduction to zero.

Appears in 2 contracts

Samples: Financing and Security Agreement (Tvi Corp), Financing and Security Agreement (Tvi Corp)

Payments and Maturity. The unpaid Principal Sum, together with interest thereon at the rate or rates provided above, shall be payable as follows: (a) Interest only on the unpaid Principal Sum shall be due and payable at the times provided in accordance with the Financing Agreement, Section 2.5.3 2.3.1 (Payment of Interest) of the Financing AgreementAgreement being the current provision therefor; and (b) Unless sooner paid, the unpaid Principal Sum, together with interest accrued and unpaid thereon, shall be due and payable in full on the Revolving Credit Termination Expiration Date (as that term is defined in the Financing Agreement). The fact that the balance hereunder may be reduced to zero from time to time pursuant to the Financing Agreement will not affect the continuing validity of this Note or the Financing Agreement, and the balance may be increased to the Principal Sum after any such reduction to zero.

Appears in 1 contract

Samples: Revolving Credit Note (Dcap Group Inc)

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Payments and Maturity. The unpaid Principal Sum, together with interest thereon at the rate or rates provided above, shall be payable as follows: (a) Interest only on the unpaid Principal Sum shall be due and payable on each Interest Payment Date (as that term is defined in accordance with Section 2.5.3 (Payment of Interest) of the Financing Credit Agreement); and (b) Unless sooner paid, the unpaid Principal Sum, together with interest accrued and unpaid thereon, shall be due and payable in full on the Revolving Credit Termination Maturity Date (as that term is defined in the Financing Credit Agreement). The fact that the balance hereunder may be reduced to zero from time to time pursuant to the Financing Credit Agreement will not affect the continuing validity of this Note or the Financing Credit Agreement, and the balance may be increased to the Principal Sum after any such reduction to zero.

Appears in 1 contract

Samples: Revolving Credit Note (Mam Software Group, Inc.)

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