Remargining Principal Payments Sample Clauses

Remargining Principal Payments. Notwithstanding anything to the contrary set forth elsewhere in any Loan Document, at no time shall the aggregate Outstanding Loan Borrowings exceed the Available Loan Commitment. If, at any time, the aggregate Outstanding Loan Borrowings exceed the Available Loan Commitment, (including, without limitation, by reason of Commitment Amount reductions, changes in Appraised Values, exclusion of Eligible Collateral, adjustments to the Borrowing Base or Collateral Value, or otherwise), Borrower shall be obligated to make a payment to Lender in an amount equal to that amount by which the Outstanding Loan Borrowings exceed the Available Loan Commitment (a “Remargining Payment”). Any such Remargining Payment will be due no later than 2:00 p.m. (Eastern Time) on the fifth (5th) day after the day upon which Lender notifies Borrower (which notice may be given telephonically, by facsimile or in writing to the chief financial officer, corporate controller, or treasurer of Borrower) that such Remargining Payment is required.
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Remargining Principal Payments. Anything in the Loan Documents to the contrary notwithstanding, the total of Outstanding Borrowings may not at any time exceed the Available Commitment, and Borrower shall not be entitled to any Advances or the issuance of any Letters of Credit if the effect thereof would be to cause the Outstanding Borrowings to exceed the Available Commitment. If for any reason at any time the total of Outstanding Borrowings exceeds the Available Commitment (including, without limitation, by reason of Commitment Amount reductions, changes in Unit Appraised Values or A&D Project Appraised Values, adjustments to the Borrowing Base or Collateral Value, or otherwise), Borrower will make a principal payment to the Agent, as agent for and on behalf of the Banks, in an amount equal to such excess amount. Each payment pursuant to this Section 2.9 will be due no later than 11:00 a.m. (Phoenix, Arizona time) on the 1st Business Day after the day upon which the Agent notifies Borrower (which notice may be given telephonically to the chief financial officer or treasurer of Borrower, by facsimile or in writing) that such payment is required.
Sample 1
Remargining Principal Payments. Notwithstanding anything to the contrary set forth elsewhere in any Loan Document, at no time shall the Available Loan Commitment be less than Zero and No/100 Dollars ($0.00) (including, without limitation, by reason of changes in Appraised Values, release of Borrowing Base Collateral, adjustments to the Maximum Allowed Advance, or otherwise). If, at any time, the amount of the Available Loan Commitment is less than Zero and No/100 Dollars ($0.00), Borrower shall be obligated to make a principal payment to Lender in an amount equal to the amount necessary to restore the Available Loan Commitment to Zero and No/100 Dollars ($0.00) (a “Remargining Payment”). Any such Remargining Payment will be due no later than the fifth (5th) day after the day upon which Lender notifies Borrower (which notice may be given telephonically, by facsimile or in writing to the chief financial officer, corporate controller, or treasurer of Borrower) that such Remargining Payment is required.
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Remargining Principal Payments 
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Related to Remargining Principal Payments

  • Minimum Monthly Principal Payments Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the “Principal Amount”) shall begin on December 1, 2004 and shall recur on the first business day of each succeeding month thereafter until the Maturity Date (each, an “Amortization Date”). Subject to Article 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount of $187,500, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note, the Purchase Agreement or any other Related Agreement but have not been paid (collectively, the “Monthly Amount”). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.

  • Principal Payments Originator is authorized and directed by SPV to enter on the grid attached hereto, or, at its option, in its books and records, the date and amount of each loan made by it which is evidenced by this Subordinated Note and the amount of each payment of principal made by SPV, and absent manifest error, such entries shall constitute prima facie evidence of the accuracy of the information so entered; provided that neither the failure of Originator to make any such entry or any error therein shall expand, limit or affect the obligations of SPV hereunder.

  • Optional Principal Payments 11 2.8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

  • Scheduled Principal Payments The Borrower shall make payments of principal to Holder as follows: (i) on the first anniversary of this Note, the sum of $279,500, which represents 10% of original principal amount of this Note, (ii) on the second anniversary of this Note, the sum of $1,118,000, which represents 40% of original principal amount of this Note, and (iii) on May 18, 2010 (the “Maturity Date”), a final payment of the sum of the outstanding principal balance of this Note, including the amount of any PIK Interest, together with accrued and unpaid interest thereon, and all other obligations and indebtedness owing hereunder, if not sooner paid.

  • Principal Payment The Borrower shall fail to pay any principal of any Note when the same becomes due and payable as set forth in this Agreement;

  • Mandatory Principal Payments If, on any day, the Total Outstandings exceed the Maximum Loan Amount, then the Borrower shall make a principal payment to Administrative Agent in the amount of such excess, in immediately available funds within ten (10) Business Days of demand from the Administrative Agent (a “Mandatory Principal Payment”); with such payment being applied to the principal balances due hereunder is such fashion as the Borrower may designate; provided, however, that if during such ten (10) Business Day period, the Borrower delivers to the Administrative Agent Funding Evidence, such ten (10) Business Day period shall be extended for such additional time as the Administrative Agent determines, in its reasonable discretion, to be required by the Borrower to make the Mandatory Principal Payment but in no event shall such period exceed a maximum of sixty (60) days from the date that the Mandatory Principal Payment would otherwise be due hereunder.

  • Principal Payment Dates Subject to the Subordination Provisions set forth below, payments of the principal amount of this Company Note shall be made as follows:

  • Principal Payment Date Any unpaid principal of this promissory note (this "Demand Note") shall be paid on the Demand Date.

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • 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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