Common use of Repayment of Term Loan Clause in Contracts

Repayment of Term Loan. The Term Loan shall be repaid in thirty-six (36) equal monthly installments of Fifty-Five Thousand Five Hundred Fifty-Six and No/Dollars ($55,556) payable on the first day of each month; provided, that any remaining outstanding principal balance of the Term Loan shall be repaid at the end of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof. If any such payment due date is not a Business Day, then such payment may be made on the next succeeding Business Day and such extension of time shall be included in the computation of the amount of interest and fees due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Horizon Medical Products Inc)

AutoNDA by SimpleDocs

Repayment of Term Loan. The Term Loan shall be repaid in thirtyninety-six (3696) equal monthly installments of Fifty-Five Thousand Five Two Hundred Fifty-Six Eight and No/33/100 Dollars ($55,5565,208.33) payable on the first day that is thirty (30) days from the date of such advance and on the last day of each monthmonth thereafter; provided, that any remaining outstanding principal balance of the Term Loan shall be repaid at the end of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereofTerm. If any such payment due date is not a Business Day, then such payment may be made on the next succeeding Business Day and such extension of time shall be included in the computation of the amount of interest and fees due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Obsidian Enterprises Inc)

Repayment of Term Loan. The principal of the Term Loan shall be repaid in thirtyseventy-six two (3672) equal monthly installments of Fifty-Five One Thousand Five Hundred FiftyEighty-Six Three and No/33/100 Dollars ($55,5561,583.33) payable on March 1, 2004 and the first day of each monthmonth thereafter; provided, that any remaining outstanding principal balance of the Term Loan shall be repaid at the end of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof. If any such payment due date is not a Business Day, then such payment may be made on the next succeeding Business Day and such extension of time shall be included in the computation of the amount of interest and fees due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Delphax Technologies Inc)

Repayment of Term Loan. The Term Loan shall be repaid in thirtyeighty-six four (3684) equal monthly installments of Fifty-Five Thousand Five Hundred Fifty-Six and No/Dollars ($55,556) payable on the first day that is 30 days from the date of such advance and on the corresponding day of each month thereafter (or if there is no corresponding day, on the last day of the month); provided, provided that any remaining outstanding principal balance of the Term Loan shall be repaid at the end of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof. If any such payment due date is not a Business Day, then such payment may be made on the next succeeding Business Day and such extension of time shall be included in the computation of the amount of interest and fees due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Perry-Judds Inc)

AutoNDA by SimpleDocs

Repayment of Term Loan. The Commencing with March 31, 2007, the Term Loan shall be repaid in thirty-six sixty (3660) equal monthly installments of Fifty-Five Thousand Five Six Hundred Fifty-Sixteen Thousand, Six Hundred, Sixty Six and No/67/100 Dollars ($55,556616,666.67) payable on the first last day of each month; provided, provided that any remaining outstanding principal balance of the Term Loan shall be repaid at the end of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof. If any such payment due date is not a Business Day, then such payment may be made on the next succeeding Business Day and such extension of time shall be included in the computation of the amount of interest and fees due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Omni Energy Services Corp)

Repayment of Term Loan. The Term Loan shall be repaid in thirty-six sixty (3660) equal monthly principal installments of FiftyTwenty-Five Three Thousand Five Two Hundred FiftyThirty-Six Three and No/33/100 Dollars ($55,55623,233.33) payable on the first day of September, 2004, and on the corresponding day of each monthmonth thereafter; provided, that any remaining outstanding principal balance of the Term Loan shall be repaid at the end of the Original Term or any Renewal Term if this Agreement is renewed pursuant to Section 10 hereof. If any such payment due date is not a Business Day, then such payment may be made on the next succeeding Business Day and such extension of time shall be included in the computation of the amount of interest and fees due hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Tarpon Industries, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!