Principal Paydown. (a) For any Repurchase Date not resulting from an Event of Default hereunder, the Principal Paydown will equal the aggregate principal amount of the CLO Notes to be redeemed pursuant to the CLO Indenture; (b) for any Repurchase Date resulting from an Event of Default hereunder, the Principal Paydown will be equal to the Class A Maximum Principal Amount (as defined in the CLO Indenture) minus any principal payments previously made on the CLO Notes; and (c) for any Repurchase Date on which a Purchase Date does not occur due to an Excess Paydown Event, the Principal Paydown will be equal to the aggregate outstanding principal amount of the CLO Notes.
Principal Paydown. (a) For any Repurchase Date not resulting from an Event of Default hereunder, the Principal Paydown will equal the aggregate principal amount of the CLO Notes to be redeemed pursuant to the CLO Indenture; (b) for any Repurchase Date resulting from an Event of Default hereunder, the Principal Paydown will be equal to the Class A Maximum Principal Amount (as defined in the CLO Indenture) minus any principal payments previously made on the CLO Notes; and
Principal Paydown. Administrative Agent shall have received payment of principal, for the account of the Lenders, in an amount not less than $49,000,000, to be applied ratably to the Loans as set forth in Sections 3.04(c)(v) and (vi) of the Original Credit Agreement.
Principal Paydown. The Lenders party hereto hereby waive the requirements of any provision of the Loan Documents that might otherwise prohibit the repayment of Loans required hereunder or, without such waiver, result in a breach of any Loan Document or a Default or Event of Default thereunder upon compliance with the requirement hereunder to repay Loans.
Principal Paydown. Borrower pays One Million and 00/100 Dollars ($1,000,000.00) of the outstanding principal balance of the Loan to Lender.
Principal Paydown. On or before the Effective Date (as hereinafter defined), Borrower shall pay to Lender, in immediately available funds, the amount of Eleven Million Seventy Thousand Three Hundred Ninety-Nine and 55/100 Dollars ($11,070,399.55) (the “Principal Paydown”). Borrower hereby irrevocably and unconditionally instructs and authorizes Lender to apply the Principal Paydown to reduce Borrower’s obligations under the Loan in such order as Lender shall determine in its sole discretion. Borrower acknowledges and agrees that the Principal Paydown is made freely and voluntarily. Borrower further acknowledges and agrees that amounts repaid under the Loan may not be reborrowed. No Prepayment Charge shall be payable in connection with such Principal Paydown.
Principal Paydown. Upon execution of this Agreement, Borrower shall pay to Lender a principal paydown of One Million Dollars ($1,000,000).
Principal Paydown. Effective on the date of this Amendment, Borrower has made a one time principal payment in the amount of $500,000.00 which shall be applied to the Note and shall permanently reduce the amount thereof.
Principal Paydown. The Borrower shall have paid to the Lender the amount of Three Million and 00/100 Dollars ($3,000,000.00) to reduce the principal amount of the Note.
Principal Paydown. Borrowers agree to make a principal paydown, in the amount of $209,000, on or before November 24, 2004. Failure to make said payment of principal will constitute an event of default under the Promissory Note.
