Reduction of Principal Amount Sample Clauses

Reduction of Principal Amount. The Company agrees to reduce the ----------------------------- Principal Amount as follows:
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Reduction of Principal Amount. Notwithstanding any other provision contained in the Agreement, effective as of May 30, 2017, the aggregate amount of all Advances outstanding shall be deemed to be reduced by Three Million United States Dollars (US$3,000,000).
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Reduction of Principal Amount. 1.1. If the Closing Date Net Tangible Assets (as determined pursuant to Section 2(f) of the Asset Purchase Agreement) is less than Seven Million and Four Hundred Thousand Dollars ($7,400,000), then the principal amount of this Note shall be reduced by an amount (the "NTA Shortfall Amount") equal to one dollar for each one dollar that such Closing Date Net Tangible Assets are less than $7,400,000.
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Reduction of Principal Amount. The principal amount of this Note shall be subject to reduction in accordance with the terms and conditions of the VAT Escrow Agreement dated as of the date hereof, by and among by and among Obligor, Kara Sub, Inc., KCS Investment I, Ltd., KCS Acquisition Subsidiary, Inc., Caymex Transportation, Inc., Grupo MM, S.A., MM Holdings, S.A. de C.V., MM Multimodal, S.A. de C.V. and the Escrow Agent named therein (the "VAT Escrow Agreement").
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Reduction of Principal Amount. All amounts due under this Note shall be subject to reduction in accordance with the terms and conditions of the Indemnity Escrow Agreement dated as of the date hereof by and among Obligor, Grupo TMM, S.A., and the Escrow Agent named therein.
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Reduction of Principal Amount. In the event that the Firm elects the Professional Person's Deferred Payment Conversion at any time as permitted under the Plan, Maker shall deliver to Holder a copy of the written notice of such election (a "CONVERSION NOTICE") from the Firm promptly after Maker's receipt thereof, and Maker will deliver to Holder written notice (the "CONVERSION Confirmation") of the delivery of Maker's stock to the Firm in accordance with the Plan and the applicable Conversion Notice concurrent with the delivery of such stock by Maker. Upon Holder's receipt of the Conversion Confirmation, the principal amount of this Note shall be reduced by the amount of the applicable Profession Person's Deferred Claim converted pursuant to the Conversion Notice.
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Reduction of Principal Amount. Each payment of principal and/or interest made by the Company to the Holder pursuant to the Lanxide Note shall reduce the outstanding balance of this Note by the amount of such payment.
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Reduction of Principal Amount. This Note represents a portion of the purchase price paid under the Purchase Agreement, the amount of which was determined by estimating the Payee's EBITDA for the 2002 calendar year at $1.5 million. Notwithstanding anything to the contrary in this Note, in the event Payee's EBITDA for the 2002 calendar year is less than $1.5 million, the Principal Amount of this Note shall be reduced by an amount equal to the product of (i) 3.6, multiplied by (ii) the difference between $1.5 million and Payee's EBITDA for the 2002 calendar year. For example, if Payee's 2002 EBITDA equals $1.4 million, then the Principal Amount of the Note would be reduced by $360,000. Any reduction in the Principal Amount shall be applied to payments due after the determination of Payee's 2002 EBITDA, beginning with the last payment to be due hereunder and working backwards as necessary. Under no circumstances shall any such reduction require Payee to repay any payments made hereunder prior to such reduction.
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Reduction of Principal Amount. The proceeds of the Term Loan shall be used to finance the repurchase of stock by the Company from existing shareholders in a tender offer filed with and in compliance with the applicable regulations of the Securities and Exchange Commission, through open-market purchases and to repurchase outstanding warrants for stock in an aggregate amount not to exceed Thirteen Million Five Hundred Thousand and No/100 Dollars ($13,500,000) on or prior to March 31, 2000 and to refinance the Company's existing Term Loan in the amount of Seven Million and No/100 Dollars ($7,000,000.00). On or before March 31, 2000, the Company shall deliver to the Bank a Certificate of an Authorized Officer certifying that the Company has used $13,500,000 of the Term Loan proceeds, or such lesser amount as actually used, to repurchase the common stock of the Company through the tender offer, open-market purchases or through the purchase of warrants. In the event that the Company has not fully utilized the $13,500,000 for such purpose by March 31, 2000, the remaining unused proceeds of the Term Loan, to the extent advanced, shall be immediately repaid by the Company as a prepayment of the Term Loan and shall be applied against the latest maturing installment of principal; and if not previously advanced, shall be cancelled, and in either event the annual principal payments shall be adjusted proportionately to reflect the actual principal amount outstanding.
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Related to Reduction of Principal Amount

  • Calculation of Principal Amount of Notes The aggregate principal amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so consented, by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, and Section 13.06 of this Indenture. Any calculation of the Applicable Premium made pursuant to this Section 2.13 shall be made by the Company and delivered to the Trustee pursuant to an Officers’ Certificate.

  • Prepayment of Principal Mandatory prepayments of principal, if any, of each Series of Notes shall be determined, allocated and distributed in accordance with the procedures set forth in the applicable Series Supplement, if not otherwise described herein.

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Additional Voting Terms; Calculation of Principal Amount All Notes issued under this Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter. Determinations as to whether holders of the requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.13.

  • Payments of Principal If an Early Amortization Period has not begun, on the Expected Final Payment Date, or on each Payment Date for an Early Amortization Period, and if the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will withdraw an amount up to the aggregate Note Balance of Series 20 - from the Series 20 - Principal Funding Account for payment in the following order of priority: (i) to the Noteholders of [the][each Class of] Class A Notes, [pro rata based on the principal amount of each Class of Class A Notes,] until the Note Balance of [the][each Class of] Class A Notes is reduced to zero, (ii) to the Noteholders of Class B Notes, until the Note Balance of the Class B Notes is reduced to zero, (iii) to the Noteholders of the Class C Notes, until the Note Balance of the Class C Notes is reduced to zero and (iv) to the Noteholders of the Class D Notes, until the Note Balance of the Class D Notes is reduced to zero.

  • Payment of Principal Premium, if any, and Interest; Interest on Overdue Principal; Principal, Premium, if any, and Interest Rights Preserved.

  • Repayment of Principal and Interest (a) The entire outstanding principal balance of the Loans shall be due and payable by no later than 5:00 p.m. (Eastern time) on the Business Day on which the Loan is due, together with all remaining accrued and unpaid interest thereon, unless an extension of no more than three additional days is authorized by the Lending Company.

  • Payment of Principal, Premium and Interest The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture.

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