Remainder of Galaxy Loan Balance Sample Clauses

Remainder of Galaxy Loan Balance. On the Closing Date, VCI shall pay to Mortco, by check dated the Closing Date and sent via an overnight express mail delivery service for next day delivery, one million one hundred seventeen thousand one dollars and 49/100 (US$1,117,001.49), which amount represents that portion of the Galaxy Loan Balance that is not converted into VCI Preferred Shares pursuant to Section 1.1 hereof (the "Remaining Galaxy Loan Balance"). If the check does not clear in the ordinary course of business, commencing on the date that Rentrak receives notice of insufficient funds and continuing until payment is made in full, VCI shall pay interest on the entire unpaid balance of the Remaining Galaxy Loan Balance, if any, at a rate of twenty-four percent (24%) per annum; provided, however, that if interest accruing at such rate would be deemed ----------------- usurious, the rate shall be reduced to the highest rate allowed by law. All such interest payments shall be due and payable, in full, on the first calendar day of each month until the Remaining Galaxy Loan Balance and all accrued interest thereon is paid in full.
Sample 1
AutoNDA by SimpleDocs

Related to Remainder of Galaxy Loan Balance

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

  • Termination and Reduction of Aggregate Maximum Credit Amounts (a) Scheduled Termination of Commitments. Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts are terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

  • 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.

  • Mortgage Loan Liquidated by _________________ (The Company hereby certifies that all proceeds of foreclosure, insurance, condemnation or other liquidation have been finally received and credited to the Collection Account pursuant to the Pooling and Servicing Agreement.)

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

  • Limitation on Aggregate Principal Amount The aggregate principal amount of the Notes shall not be limited. The Company shall not execute and the Trustee shall not authenticate or deliver Notes except as permitted by the terms of the Indenture.

  • Simple Interest Mortgage Loans None of the Mortgage Loans are simple interest Mortgage Loans.

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

  • Interest on Amounts Paid Under Letters of Credit (i) Payment of Interest by Company. Company agrees to pay to each Issuing Lender, with respect to drawings honored under any Letters of Credit issued by it, interest on the amount paid by such Issuing Lender in respect of each such honored drawing from the date such drawing is honored to but excluding the date such amount is reimbursed by Company (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B) at a rate equal to (a) for the period from the date such drawing is honored to but excluding the Reimbursement Date, the rate then in effect under this Agreement with respect to Revolving Loans that are Base Rate Loans and (b) thereafter, a rate which is 2% per annum in excess of the rate of interest otherwise payable under this Agreement with respect to Revolving Loans that are Base Rate Loans. Interest payable pursuant to this subsection 3.3D(i) shall be computed on the basis of a 360-day year for the actual number of days elapsed in the period during which it accrues and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full.

Time is Money Join Law Insider Premium to draft better contracts faster.