Common use of Repayment of Principal Clause in Contracts

Repayment of Principal. (a) The Borrower shall repay to the Administrative Agent for the benefit of the Lenders the outstanding principal balance of the Loans (and the outstanding principal of the Loans shall be due and payable) on the Maturity Date with respect to such Loans or on such date on which the Loans become due and payable pursuant to Section 2.4 or 2.5 or Article IX. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent, on behalf of the Borrower, shall maintain the Register, and a subaccount therein for each Lender, in which shall be recorded (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof. The Register shall be available for inspection by each Loan Party, the Administrative Agent and any Lender at any reasonable time and from time to time upon reasonable prior notice. (d) The entries made in the Register and the accounts of each Lender maintained pursuant to Section 2.6(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance with the terms of this Agreement or the Borrower's entitlement to credit for any payment of principal or interest on the Loans.

Repayment of Principal. (a) The Borrower Parent shall repay to the Administrative Agent for the benefit of the Lenders the outstanding principal balance of the Loans (and the outstanding principal of the Loans shall be due and payable) on the Maturity Termination Date with respect to such the principal amount of all Loans or on such date on which the Loans become due and payable pursuant to Section 2.4 or 2.5 or Article IXthen outstanding. (b) Each Lender shall maintain In the event that the Bank determines, based on its computation made in accordance with its usual practice an account Section 2.04(c) or accounts evidencing Indebtedness at any other time, that the Dollar Equivalent of the Borrower then outstanding Loans, Letter of Credit Obligations and allocations exceeds 105% of the Commitment, the Bank shall give prompt notice to such Lender resulting from each Loan the Parent of such Lender from time to time, including the amounts fact and of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent, on behalf of the Borrower, shall maintain the Register, and a subaccount therein for each Lender, in which shall be recorded (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal such excess. Within 30 days after the date on which the Parent receives such notice, the Parent shall prepay Loans or interest due and payable collateralize Letter of Credit Obligations or to become due and payable from allocations with cash (as set forth below), in the Borrower to each Lender hereunder and (iii) both the aggregate amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereofsuch excess. The Register Any such prepayment of LIBOR Rate Loans shall be available for inspection by each Loan Party, made together with interest on the Administrative Agent principal amount thereof and any Lender at any reasonable time and from time amount required to time upon reasonable prior notice. (d) The entries made be paid in the Register and the accounts of each Lender maintained connection therewith pursuant to Section 2.6(b4.04. Any prepayments pursuant to this Section 2.06(b) shallshall be applied, first, to any Base Rate Loans then outstanding, second, to LIBOR Rate Loans having Interest Periods ending on the date of such prepayment, and third, to the extent permitted that the amounts referred to in clauses “first” and “second” are not sufficient to satisfy the entire prepayment requirement under this Section 2.06(b) or there are no such Loans outstanding on the date such prepayment would be required, then the remaining amount that would be required to be prepaid under this Section 2.06(b) shall be deposited in a cash collateral account maintained by applicable lawthe Bank, to be prima facie evidence held as security for the Obligations hereunder pursuant to a cash collateral agreement to be entered into in form and substance reasonably satisfactory to the Bank and the Parent, and to be applied to the prepayment of LIBOR Rate Loans at the end of the existence respective Interest Periods therefor and amounts of the obligations of the Borrower therein recorded; provided, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance with the terms of this Agreement or the Borrower's entitlement to credit for any payment of principal or interest on Reimbursement Obligations as the Loanssame become due.

Repayment of Principal. (a) The Borrower Unless otherwise required or permitted to be sooner paid pursuant to the provisions hereof, the Borrowers shall repay the unpaid outstanding principal amount of Loans (including capitalized and accrued interest to the Administrative Agent for extent such interest is not paid in cash and is added to the benefit principal balance thereon) (the “Principal”) in full at the earliest of (i) the Interim Facility Maturity Date, if the Final DIP Financing Order has not been entered by the Bankruptcy Court on or prior to such date, (ii) the date a sale is consummated of all or substantially all of the Lenders the outstanding principal balance capital stock and/or assets and business of the Loans Borrowers (the “Borrowers’ Sale”), (iii) February 6, 2009, (iv) the earlier of the effective date and the outstanding principal date of the substantial consummation (as defined in Section 1101(2) of the Bankruptcy Code), in each case, of a plan of reorganization satisfactory to the Agent and the Lenders (a “Plan of Reorganization”) in the Reorganization Cases that has been confirmed by an order of the Bankruptcy Court and (v) the date on which all of the Loans shall be due and payable) on the Maturity Date with respect to such Loans or on such date on which the Loans become due and payable pursuant in accordance with the terms of the Loan Documents, including upon acceleration under Section 9.02(a) (such earliest date, the “Maturity Date”); provided, that the Maturity Date may be extended by the Agent and the Lenders in their sole and absolute discretion. Whenever any payment to Section 2.4 or 2.5 or Article IXbe made hereunder shall be stated to be due on a day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day. (b) It is understood and agreed that any confirmation order entered in the Reorganization Cases shall not discharge or otherwise affect in any way any of the Obligations of the Borrowers to the Lenders and the Agent under this Agreement, other than after the payment-in-full in cash to the Lenders and the Agent of all Obligations on or before the effective date of the Plan of Reorganization. (c) Each Business Day, at or before 12:00 noon, the Agent shall apply all immediately available funds received from the Collection Account in accordance with the provisions of Section 4.07. (d) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing Indebtedness the indebtedness of the Borrower Borrowers to such Lender resulting from each Loan of made by such Lender from time to timeLender, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreementhereunder. (ce) The Administrative Agent, on behalf of the Borrower, Agent shall maintain the Register, and a subaccount therein for each Lender, accounts in which it shall be recorded record (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable theretohereunder, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower Borrowers to each Lender hereunder hereunder, and (iii) both the amount of any sum received by the Administrative Agent hereunder from for the Borrower account of the Lenders and each Lender's ’s share thereof. The Register shall be available for inspection by each Loan Party, the Administrative Agent and any Lender at any reasonable time and from time to time upon reasonable prior notice. (df) The entries made in the Register and the accounts of each Lender maintained pursuant to Section 2.6(b4.03(e)) shall, to the extent permitted by applicable law, shall be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recordedrecorded therein; provided, provided that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, accounts or any error therein, therein shall not in any manner affect the obligation of the Borrower Borrowers to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance with the terms of this Agreement or the Borrower's entitlement to credit for any payment of principal or interest on the LoansAgreement.

Repayment of Principal. (a) The Borrower shall repay to the Administrative Agent for the benefit of the Lenders the outstanding principal balance of the Loans (and the outstanding principal of the Loans shall be due and payable) on the Maturity Date with respect to such Loans or on such date on which the Loans become due and payable pursuant to Section 2.4 or 2.5 or Article IX. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent, on behalf of the Borrower, shall maintain the Register, and a subaccount therein for each Lender, in which shall be recorded (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's ’s share thereof. The Register shall be available for inspection by each Loan Party, the Administrative Agent and any Lender at any reasonable time and from time to time upon reasonable prior notice. (d) The entries made in the Register and the accounts of each Lender maintained pursuant to Section 2.6(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance with the terms of this Agreement or the Borrower's ’s entitlement to credit for any payment of principal or interest on the Loans.

Repayment of Principal. a. Each payment or prepayment of principal on the Loans from amounts on deposit in the Deposit Account or from collections of Eligible Accounts required to be deposited in the Deposit Account in accordance with Section 2.3(a), shall be allocated (ai) The Borrower shall repay first, to the Administrative repayment of all outstanding Loans from Trellus, and (ii) second, only after the repayment of all outstanding Loans from Trellus, pro rata among the other Lenders, in accordance with the first sentence of Section 2.1(b)(iii), to the repayment of all outstanding Accounts Receivable Loans. b. Each payment or prepayment of principal on the Loans, other than from amounts on deposit in the Deposit Account or from collections of Eligible Accounts required to be deposited in the Deposit Account in accordance with Section 2.3(a), shall be allocated (i) first, to the repayment of all outstanding Loans from Trellus, (ii) second, pro rata among the other Lenders who have advanced Accommodation Loans, in accordance with the ratio that the aggregate principal amount of Accommodation Loans outstanding for each such Lender bears to the Outstanding Accommodation Loan Amount; (iii) only after the repayment of all outstanding Loans from Trellus and all outstanding Accommodation Loans, pro rata among the other Lenders, in accordance with the first sentence of Section 2.1(b)(iii), to the repayment of all outstanding Accounts Receivable Loans. c. Notwithstanding the foregoing Section 2.6(a) and (b), upon the occurrence and during the existence of an Event of Default or the exercise by the Agent for the benefit of or the Lenders the outstanding of any remedies hereunder, each payment or prepayment of principal balance of the Loans (and the outstanding principal of on the Loans shall be due and payable) on the Maturity Date with respect to such Loans or on such date on which the Loans become due and payable pursuant to Section 2.4 or 2.5 or Article IX. (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing Indebtedness of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent, on behalf of the Borrower, shall maintain the Register, and a subaccount therein for each Lender, in which shall be recorded allocated (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof. The Register shall be available for inspection by each Loan Party, the Administrative Agent and any Lender at any reasonable time and from time to time upon reasonable prior notice. (d) The entries made in the Register and the accounts of each Lender maintained pursuant to Section 2.6(b) shallfirst, to the extent permitted by applicable lawof funds in the Deposit Account and collections of accounts receivable, be prima facie evidence pro rata among the Lenders in the proportion of the existence then outstanding principal amount of Accounts Receivable Loans made by each Lender to the Outstanding Accounts Receivable Loan Amount and amounts (ii) second, after such application, pro rata among the Lenders in the proportion of the obligations of the Borrower therein recorded; provided, that the failure then outstanding principal amount of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the then remaining Loans made by each Lender to the Borrower by such Lender in accordance with the terms of this Agreement or the Borrower's entitlement to credit for any payment of principal or interest on the Loansthen Outstanding Loan Amount.

Repayment of Principal. (a) The Borrower shall repay to the Administrative Agent for the benefit Principal of the Lenders the outstanding principal balance of the Loans (and the outstanding principal of the Loans Loan shall be due and payablepayable as follows: (a) on upon the Maturity Date with respect sale of a Lot and/or Unit in a Project, the Borrower shall repay the principal amount of the Loan (i) at the rate of one hundred fifteen percent (115%) of (A) the total amount of the Loan disbursed for the acquisition of such Lot plus (B) the total amount of the Loan budgeted for the Development Work related to such Loans or Lot, and (ii) at the rate of one hundred percent (100%) of the total amount of the Loan disbursed for the Construction Improvements related to the Home on such date on which Lot, until such time as the Loans become due and payable pursuant to Section 2.4 or 2.5 or Article IX. (b) Each Lender shall maintain total amount of the Loan disbursed for such Project has been paid in full; during the Approval Period, principal repaid in accordance with its usual practice an account or accounts evidencing Indebtedness of the Borrower this SUBPARAGRAPH (a) may be reborrowed subject to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent, on behalf of the Borrower, shall maintain the Register, and a subaccount therein for each Lender, in which shall be recorded (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof. The Register shall be available for inspection by each Loan Party, the Administrative Agent and any Lender at any reasonable time and from time to time upon reasonable prior notice. (d) The entries made in the Register and the accounts of each Lender maintained pursuant to Section 2.6(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance compliance with the terms of this Agreement Loan Agreement; (b) upon disbursement of proceeds of the Loan for a Home within a Project, the principal amount of the Loan (i) disbursed to acquire the related Lot, (ii) budgeted for the Development Work related to such Lot, and (iii) disbursed for the Construction Improvements related to the Home on such Lot, is required to be repaid twelve (12) months from the date Loan proceeds are first disbursed for the Construction Improvements for such Home, unless the Unit sells prior to such date, in which event the principal shall be repaid in accordance with SUBPARAGRAPH (a) above; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (b) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; (c) if the amount of the Loan disbursed for a Project has not been repaid on or before the Borrower's entitlement date Project Maturity Date, the Borrower shall on such date repay the entire principal amount of the Loan allocable to credit such Project; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (c) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; (d) upon the sale or refinancing of a Model Home, the Borrower shall repay the principal amount of the Loan at the rate of one hundred percent (100%) of the total amount of the Loan disbursed for any payment the Model Home; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (d) may be reborrowed subject to and upon compliance with the terms of principal or interest this Loan Agreement; and (e) on the LoansMaturity Date, the Borrower shall repay the entire remaining principal amount of the Loan.

Repayment of Principal. (a) The Borrower shall repay to the Administrative Agent for the benefit Principal of the Lenders the outstanding principal balance of the Loans (and the outstanding principal of the Loans Loan shall be due and payablepayable as follows: (a) with respect to the Projects as to which proceeds of the Loan are to be disbursed to construct the Construction Improvements within the Project, upon the sale of a Lot and/or Unit in such Project, the Borrower shall repay the principal amount of the Loan (i) at the rate of one hundred fifteen percent (115%) of (A) the total amount of the Loan disbursed for the acquisition of such Lot plus (B) the total amount of the Loan budgeted for the Development Work related to such Lot, and (ii) at the rate of one hundred percent (100%) of the total amount of the Loan disbursed for the Construction Improvements related to the Home on such Lot, until such time as the total amount of the Loan disbursed for such Project has been paid in full; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (a) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; (b) with respect to the Projects as to which proceeds of the Loan are to be disbursed to construct the Construction Improvements within the Project, upon disbursement of proceeds of the Loan for a Home within the Project, the principal amount of the Loan (i) disbursed to acquire the related Lot, (ii) budgeted for the Development Work related to such Lot, and (iii) disbursed for the Construction Improvements related to the Home on such Lot, is required to be repaid twelve (12) months from the date Loan proceeds are first disbursed for the Construction Improvements for such Home, unless the Unit sells prior to such date, in which event the principal shall be repaid in accordance with SUBPARAGRAPH (a) above; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (b) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; (c) with respect to the Projects as to which proceeds of the ABF Loan are to be disbursed with respect to the Construction Improvements within the Project, upon pledge of a Lot within the Project to become part of the Borrowing Base Collateral (as such term is defined in the ABF Loan Agreement), the Borrower shall repay the principal amount of the Loan at the rate of one hundred fifteen percent (115%) of (i) the total amount of the Loan disbursed for the acquisition of such Lot plus (ii) the total amount of the Loan budgeted for the Development Work related to such Lot, until such time as the total amount of the Loan disbursed for such Project has been paid in full; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (c) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; (d) if the amount of the Loan disbursed for a Project has not been repaid on or before the Project Maturity Date, the Borrower shall on such date repay the entire principal amount of the Loan allocable to such Project; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (d) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; (e) upon the sale or refinancing of a Model Home, the Borrower shall repay the principal amount of the Loan at the rate of one hundred percent (100%) of the total amount of the Loan disbursed for the Model Home; during the Approval Period, principal repaid in accordance with this SUBPARAGRAPH (e) may be reborrowed subject to and upon compliance with the terms of this Loan Agreement; and (f) on the Maturity Date with respect to such Loans or on such date on which Date, the Loans become due and payable pursuant to Section 2.4 or 2.5 or Article IX. (b) Each Lender Borrower shall maintain in accordance with its usual practice an account or accounts evidencing Indebtedness repay the entire remaining principal amount of the Borrower to such Lender resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. (c) The Administrative Agent, on behalf of the Borrower, shall maintain the Register, and a subaccount therein for each Lender, in which shall be recorded (i) the amount and Series of each Loan made hereunder and, if applicable, the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof. The Register shall be available for inspection by each Loan Party, the Administrative Agent and any Lender at any reasonable time and from time to time upon reasonable prior noticeLoan. (d) ADDITION OF SECTION 2.15 -- ADJUSTMENTS TO PROJECT LOAN AMOUNT AND ABF LOAN AMOUNT. The entries made in Project Loan Agreement is hereby amended to add the Register and the accounts of each Lender maintained pursuant to Section 2.6(b) shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, that the failure of any Lender or the Administrative Agent to maintain the Register or any such account, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Loans made to the Borrower by such Lender in accordance with the terms of this Agreement or the Borrower's entitlement to credit for any payment of principal or interest on the Loans.following new SECTION 2.15: