Reduction of Principal Balance Sample Clauses

Reduction of Principal Balance. The principal balance under each outstanding active retail installment contract purchased from SDAC will be reduced by the amount of $500 and such reduction will be credited when and if the contract principal balance reaches $500. After such credit, the contract will have a zero balance and the FSB lien will be released.
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Reduction of Principal Balance. The outstanding principal balance of the Note is hereby reduced to $4,000,000.
Sample 1
Reduction of Principal Balance. The consideration for the transfer, assignment and delivery of the Transferred Coins shall be a reduction in the Principal Balance by Lender in the amount of the Reduction Amount. The parties agree that the Reduction Amount represents the fair market value, in the aggregate, of the Transferred Coins. Subject to any adjustment required under Section 1(c) below, Lender hereby agrees, effective immediately, that the Principal Balance of the loan made under the Loan Agreement is reduced by the amount of the Reduction Amount.
Sample 1

Related to Reduction of Principal Balance

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,493,405.52.

  • ORIGINAL CLASS A NON-PO PRINCIPAL BALANCE The Original Class A Non-PO Principal Balance is $170,009,500.00.

  • 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.

  • 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.

  • 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.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $850,069,757.10

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

  • 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.

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