Principal Reduction Payments. Paydown on Government Securities, per paydown $ 8.00
Principal Reduction Payments. Per Paydown $10.00
Principal Reduction Payments. In addition to the payments set forth in Section 2.4 above, CAS shall make a monthly principal payment equal to one hundred percent (100%) of the amount of the gross sales proceeds collected that are derived from any of the Engines or any of its components (each a "Principal Reduction Payment") during the prior month as of the last day of such month.
Principal Reduction Payments. The principal reduction payment covenant set forth in Section 3(a) of Amendment No. 4 to Forbearance Agreement is modified to require monthly principal reduction payments of at least $100,000, effective as of the date of this Amendment.
Principal Reduction Payments. The Company shall make principal reduction payments to the Purchasers in respect of the loan evidenced by an aggregate of $2,900,000 of Promissory Notes executed by the Company and each of the Purchasers on August 12, 2010 and as amended, modified and extended through and as of the date hereof (each, a “Note” and, collectively, the “Notes”) in the aggregate amount of $2,552,000 (each, a “Principal Reduction Payment”) in accordance with the payment schedule set forth in Schedule 1 attached hereto. The amount of each Principal Reduction Payment shall be allocated among the Purchasers in accordance with Schedule 2 attached hereto. After giving effect to the payment of the Principal Reduction Payment, the outstanding principal amount of the Notes of $2,552,000 (the “Outstanding Principal Amount”) shall be reduced to $0; provided, however, that the Notes shall be deemed to remain outstanding and in full force and effect until all amounts payable to Purchasers under the Notes and this letter agreement have been paid in full.
Principal Reduction Payments. During the term of this Agreement, Borrower may at any time make principal reduction payments for the benefit of Lender without penalty or premium. Borrower shall make such payments by wire transfer to Farm Credit Mid-America pursuant to the wire transfer instructions attached hereto as Exhibit A. Advance Authority. The following Persons are authorized to request Advances under the Loan: (i) Xxxx Xxxxxx, President, and (ii) Xxxxx Xxxxxxxx, Chief Financial Officer. Borrower shall provide written notice to Lender of any additions or deletions as to the Persons authorized to request Advances from time to time. Step Down. The Commitment shall decrease by two and fifty hundredths percent (2.50%) per year on each anniversary of this Agreement (the “Step Down”).
Principal Reduction Payments. Photronics shall have the right to make Principal Reduction Payments in addition to the Base Rent due and payable under this Lease subject to and upon satisfaction of the following terms and conditions:
(i) No uncured monetary Default then exists;
(ii) A Principal Reduction Payment shall be made no more frequently than one time in each calendar quarter of the term (and shall be made in the same manner as then required for payment of Base Rent (e.g., wire transfer)) following at least ten (10) Business Days' prior written notice thereof to Micron specifying the amount and the date upon which such partial prepayment shall be made;
(iii) Such Principal Reduction Payment shall constitute an advance payment to be applied first towards outstanding principal payable under the Lease and not an early payment of the immediately succeeding quarterly installment of Base Rent or principal then payable hereunder. For purposes of the foregoing, principal means the principal portion of the Base Rent payable under this Lease and shall be such amount as would be set forth in a then current Lease Payment Schedule reflecting all then current adjustments, if any, to Base Rent as of such date pursuant to this Lease (e.g., taking into account prior Partial Prepayments). Following any such Principal Reduction Payment, the Lease Payment Schedule shall be modified to reflect the aforesaid interest and principal prepayment and the amounts payable under the Base Rent, Interest, Principal, Repayment Amount/Balance, Cumulative Interest Paid and Principal Paid and Default Rent Reimbursement columns of the Lease Payment Schedule shall be appropriately adjusted for the quarter after the date of such Principal Reduction Payment through the balance of the payments to be made for the term taking into account such adjustments; and
(iv) Prior to the occurrence of the [****], Photronics shall not have the right to prepay more than [****] of the principal balance of the Base Rent which is payable for the period from the Rent Commencement Date through the Qual Period End Date.
Principal Reduction Payments. During the term of this Agreement, Borrower may at any time make principal reduction payments for the benefit of Lender without penalty or premium. Borrower shall make such payments by wire transfer to Farm Credit Mid-America pursuant to the wire transfer instructions attached as Exhibit A to the Consolidated Loan Agreement.
Principal Reduction Payments. Per Paydown $ 6.50
Principal Reduction Payments. Lender hereby agrees to waive payment by Borrower of a principal reduction in the amount of $50,000 due on or before December 31, 2012 pursuant to the First Allonge. On or before December 31, 2013, and thereafter on or before December 31 of each succeeding year until the Note is paid in full, Borrower shall make a principal reduction payment to Lender in the amount of $50,000 (“Annual Principal Reduction Payment”). Lender, in her sole discretion, shall have the right upon written notice to Borrower given not later than September 30 of each year, to waive any given Annual Principal Reduction Payment.
