Principal Plants Sample Clauses

Principal Plants. The Borrower will not create, assume, guarantee or otherwise become liable with respect to (collectively, "incur"), and will not cause, suffer or permit any Restricted Subsidiary to incur, any Debt secured by a Lien on any Principal Plant, or on any capital stock of any Restricted Subsidiary, without making effective provisions whereby the Commitments shall be equally and ratably secured thereby, provided that the foregoing shall not apply to: a) purchase money pledges of, or purchase money mortgages or liens on, property acquired (including through merger or consolidation) after the date of execution of this Agreement, so long as such pledges, mortgages and liens shall attach only to the assets so acquired, b) Liens existing at the time of acquisition (including through merger or consolidation) on property acquired after the date of execution of this Agreement, so long as such Liens (A) were not created or incurred in connection with or in contemplation of such acquisition and (B) shall attach only to the assets so acquired, c) Liens existing on property of a Subsidiary at the time it becomes a Restricted Subsidiary, so long as such Liens were not created or incurred in connection with or in contemplation of such Subsidiary becoming a Restricted Subsidiary, d) Liens to secure all or any part of the cost of development or construction of any property or assets or improvements thereon and which shall be released or satisfied within 120 days after completion of such development or construction, e) Liens required in connection with the acquisition, construction or development of additions or extensions to Principal Plants which shall be financed by obligations described in Section 103(b)(4)-(7) of the Code or by obligations entitled to substantially similar tax benefits under other legislation or regulations in effect from time to time, f) Liens securing Debt owing to the Borrower or a Restricted Subsidiary by a Restricted Subsidiary, g) Liens existing as of the Effective Date, h) extensions, renewals or replacements of pledges, mortgages or liens referred to in clauses (i) to (vii), inclusive, above, and any subsequent refinancings of the Debt secured thereby, provided that the amount of Debt secured by such extension, renewal, replacement or subsequent refinancing shall not exceed the principal amount of Debt being extended, renewed, replaced or subsequently refinanced, nor shall the pledge, mortgage or lien be extended to any additional Principal Plant or ...
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Related to Principal Plants

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

  • 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.

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

  • 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

  • Senior Certificates The Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-X-1, Class 1-X-2, Class 1-X-3 and Class A-R Certificates.

  • Pool Balance 1. Pool Balance on the close of the last day of the preceding Collection Period $

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:

  • Average Invested Assets For a specified period, the average of the aggregate book value of the assets of the Company invested, directly or indirectly, in Investments before deducting depreciation, bad debts or other non-cash reserves, computed by taking the average of such values at the end of each month during such period.

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