Principal Payment of the Loan Sample Clauses

Principal Payment of the Loan. The Borrower shall pay the principal amount of the Loan to the Lender over a period of seven (7) years in consecutive semi-annual installments of principal, the first such installment being due on the first Business Day of the seventh (7th) complete calendar month following the date hereof and subsequent installments being due on the first Business Day of every sixth (6th) month thereafter (each such date, a "Principal Payment Date") . The first two (2) installments of principal shall be in amounts equal to One Million Dollars ($1,000,000) each. Beginning with the third installment and continuing for each installment thereafter, each installment of principal shall be in an amount equal to One Million Five Hundred Thousand Dollars ($1,500,000). Unless sooner paid, and subject to acceleration, the unpaid Principal Amount of the Loan, together with all accrued and unpaid interest thereon, shall be due and payable in full by the Borrower to the Lender on July 31, 2004, without notice by or demand of the Lender (the "Scheduled Maturity Date")
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Principal Payment of the Loan. The Borrower shall repay the principal amount of the Loan over a period of ten (10) years in forty (40) consecutive quarterly installments, commencing on March 17, 2004 and continuing thereafter on the same day of each third month thereafter until paid in full. The first thirty-nine (39) such principal installments shall be in the amount of $487,500 each, and the final principal installment, due on December 17, 2013, shall be in an amount equal to the then unpaid principal balance of the Loan. Unless sooner paid, all sums due under the Loan shall be due and payable in full on December 17, 2013 (the “Maturity Date”).
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Related to Principal Payment of the Loan

  • Repayment of the Loan The Borrower shall repay the outstanding principal amount of the Loan in full on the Maturity Date.

  • Prepayment of the Loan The Company may from time to time prepay all or any portion of the Loan without premium or penalty of any type. The Company shall give the Lender at least three Business Day prior written notice of its intention to prepay the Loan, specifying the date of payment and the total amount of the Loan to be paid on such date.

  • Non-Payment of the Loans, etc Default in the payment when due of the principal of any Loan; or default, and continuance thereof for five days, in the payment when due of any interest, fee, reimbursement obligation with respect to any Letter of Credit or other amount payable by the Company hereunder or under any other Loan Document.

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

  • Repayment of the Loans The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Laurus under this Agreement and the Ancillary Agreements; and (c) subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

  • Mandatory Principal Payments If, on any day, the Total Outstandings exceed the Maximum Loan Amount, then the Borrower shall make a principal payment to Administrative Agent in the amount of such excess, in immediately available funds within ten (10) Business Days of demand from the Administrative Agent (a “Mandatory Principal Payment”); with such payment being applied to the principal balances due hereunder is such fashion as the Borrower may designate; provided, however, that if during such ten (10) Business Day period, the Borrower delivers to the Administrative Agent Funding Evidence, such ten (10) Business Day period shall be extended for such additional time as the Administrative Agent determines, in its reasonable discretion, to be required by the Borrower to make the Mandatory Principal Payment but in no event shall such period exceed a maximum of sixty (60) days from the date that the Mandatory Principal Payment would otherwise be due hereunder.

  • Optional Principal Payments 11 2.8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

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