Principal Reduction. The principal of the Notes is subject to reduction, retroactive to the date of issuance of the Notes, by reason of a Merger Consideration Principal Reduction. The principal of the Notes is also subject to reduction, effective as of the date of payment, by reason of a Litigation Payment Principal Reduction. In the event of a Merger Consideration Principal Reduction or a Litigation Payment Principal Reduction, the aggregate principal of all outstanding Notes and all outstanding 3.5% Notes shall be reduced on a pro rata basis. The Company shall promptly give notice to the Trustee of any Merger Consideration Principal Reduction or Litigation Payment Principal Reduction (and concurrently send a copy of its notice to the Shareholder Representative).
Principal Reduction. Borrower has made a principal reduction payment to Administrative Agent in an amount equal to two million and 00/100ths dollars ($2,000,000.00) (the “Principal Reduction Payment”), such that after giving effect to the Principal Reduction Payment the outstanding principal balance of the Loans shall be $13,545,000;
Principal Reduction. In consideration of Lender entering into this Amendment and modifying the terms of the Loans as provided herein, as of the date hereof, Borrowers have made a partial paydown of the outstanding principal balance in the amount of Twenty-Two Million One Hundred Ninety-Nine Thousand Two Hundred Ninety-Five and 84/100 Dollars ($22,199,295.84) to reduce the outstanding principal amount of the Loans to Ninety-Seven Million Four Hundred Thousand and 00/100 Dollars ($97,400,000.00). Such principal paydown shall be allocated among the Loans as set forth on Exhibit A attached hereto and made a part hereof, which Exhibit A supersedes that certain Exhibit A attached to the Original Loan Agreement.
Principal Reduction. As of the Effective Date hereof, the outstanding amount of the advances made by the Lender to the Borrower under the Note shall not exceed $3,000,000.
Principal Reduction. Borrower shall concurrently pay to Silicon the sum of $500,000 to be applied to the Obligations in such order as Silicon shall determine in its discretion.
Principal Reduction. If not sooner repaid, Borrower shall repay the aggregate unpaid principal amount outstanding hereunder in One Hundred Twenty (120) installments in the amounts set forth on Exhibit "c" attached hereto, payable on the first (1st) day of each calendar month (commencing on the first such day to occur following the date hereof). The availability under this Note shall be reduced on a monthly basis on the same day and in the same amount as each scheduled principal payment.
Principal Reduction. On or before December 31, 2001, Borrower shall have paid to Bank the sum of $500,000.00 as a principal reduction of the Loan.
Principal Reduction. On April 16, 2011, Borrower agrees to provide a payment of ten million dollars ($10,000,000.00) to be applied towards the principal balance of the Loan. Should the Principal Reduction not be made by Borrower on or before April 16, 2011, Loan shall become immediately due and payable.
Principal Reduction. If at any time the Loan To Value Ratio is not satisfied, Borrower shall within thirty (30) days following Agent’s notice, make either (a) a principal payment in an amount sufficient to reduce the Loan To Value Ratio to not more than seventy-five percent (75%) or (b) deliver additional collateral to Agent acceptable to the Agent in its reasonable discretion, together with such customary documentation and due diligence as the Agent may reasonably require, with a value (as determined by the Agent in its reasonable discretion) sufficient to reduce the Loan to Value Ratio to not more than 75%. It shall be an Event of Default if such payment is not so made or additional collateral delivered within such thirty (30) day period.
Principal Reduction. The Corporation shall repay the principal balance due and owing along with accrued interest thereon calculated at the rate of 10.00% per annum in four (4) equal quarterly installments on each of December 31, 2018, March 29, 2019, June 28, 2019 and September 30, 2019. The entire principal balance plus all accrued interest shall be due and payable on or before September 30, 2019 (the “Maturity Date”). Interest shall be computed on the basis of a year consisting of twelve (12) months of thirty (30) days each. All payments shall be made in lawful money of the United States of America. Payment shall be credited first to the accrued interest then due and payable and the remainder applied to principal.
