Repayments. 5.2.1 The Borrower shall pay all unpaid and accrued interest in respect of each Tranche outstanding on each Monthly Repayment Date. 5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3. 5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions. 5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D. 5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose. 5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term. 5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable. 5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows: 5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and 5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche. 5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents. 5.2.10 Any amount repaid or prepaid may not be redrawn. 5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 3 contracts
Samples: Loan Agreement, Loan Agreement (TiGenix NV), Loan Agreement (TiGenix NV)
Repayments. 5.2.1 The (1) If the applicable Borrower shall pay all unpaid and accrued interest in respect of each Tranche outstanding on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount be required to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities Accommodations Outstanding under the Finance Documents.
5.2.10 Any amount repaid Credit Facility pursuant to ARTICLE 2 or prepaid may not be redrawn.
5.2.11 If ARTICLE 10, then the Drawdown Date is not a Monthly Repayment Date, the applicable Borrower shall pay to the Lender on Fronting Letter of Credit Lender, to the Drawdown Date extent required pursuant thereto and in the amount provided therein, an amount equal to the Fronting Letter of Credit Lender’s contingent liability in respect of any Letter of Credit outstanding hereunder, including any Letter of Credit which is the subject matter of any order, judgment, injunction or other such determination (by way of deduction a “Judicial Order”) restricting payment by the Fronting Letter of Credit Lender under and in accordance with such Letter of Credit beyond the expiration date stated therein other than any Judicial Order permanently enjoining the Fronting Letter of Credit Lender from paying under such Letter of Credit. Payment in respect of each such Letter of Credit shall be due in the currency in which such Letter of Credit is denominated.
(2) The Fronting Letter of Credit Lender shall, with respect to any Letter of Credit issued by it, upon the date on which any final and non-appealable order, judgment or other such determination has been rendered or issued either terminating the applicable Judicial Order or permanently enjoining the Fronting Letter of Credit Lender from paying under such Letter of Credit, pay to the applicable Borrower an amount equal to the aggregate of (y) the difference between the amount of the Tranche actually advanced paid to the BorrowerFronting Letter of Credit Lender pursuant to Section 5.09(1) and the amounts paid by the Fronting Letter of Credit Lender under such Letter of Credit, and (z) interest on such amount, if any, determined at the Fronting Letter of Credit Lender’s applicable wholesale deposit rate for the relevant currency.
(3) The Fronting Letter of Credit Lender shall, with respect to any Letter of Credit issued by it, upon the earlier of (i) the Interim Repayment date on which shall discharge either (x) the original counterpart of such Letter of Credit is returned to the Fronting Letter of Credit Lender for cancellation, or (y) the Fronting Letter of Credit Lender is released by the Beneficiary from any further obligations in respect thereof; and (ii) the expiry (to the extent permitted by Law) of such Letter of Credit, pay to the Borrower an amount equal to the aggregate of (y) the difference between the amount paid to the Fronting Letter of Credit Lender pursuant to Section 5.09(1) and the amounts paid by the Fronting Letter of Credit Lender under such Letter of Credit, and (z) interest accrued on such amount, if any, determined at the Tranche Fronting Letter of Credit Lender’s applicable wholesale deposit rate for the period from the Drawdown Date to First Monthly Repayment Daterelevant currency.
Appears in 2 contracts
Samples: Senior Secured Credit Agreement (Tucows Inc /Pa/), Senior Secured Credit Agreement (Tucows Inc /Pa/)
Repayments. 5.2.1 The Borrower shall pay all unpaid and accrued interest in respect of each Tranche outstanding on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Subject to the Repayment Term, the Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date in respect of each Tranche as shall be produced and may be revised from time to time if by the parties so agree Lender in accordance with the terms of this Loan Agreement (the “Repayment Schedule”) (save that the first six Monthly Repayments of any Tranche shall be interest only). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except 5.2.5 The Repayment Schedule set out in Part B of Schedule A is in respect of the Tranche 1 only (calculated on the assumption that the Drawdown Date for Tranche 1 is the initial one year interest-only periodAgreement Date and that Drawdown Notice for Tranche 1 is for an amount of €6,000,000) and whilst it is recognised and agreed by the parties that the principles and basis of calculation contained therein (and otherwise provided for in this Loan Agreement) shall be applied consistently in respect of other Repayment Schedules produced by the Lender in respect of Further Tranches, the Borrower acknowledges that the Repayment Schedule shall set out equal monthly payments comprising accrued interest in Part B of Schedule A is for indicative purposes only (and principalis not conclusive and binding on the Lender) in respect of Further Tranches.
5.2.6 The Lender shall have the right to issue a revised Repayment Schedule from time to time (and the Borrower acknowledges that the amount required to be repaid pursuant to Clause 5.2.3 may be increased from time to time in accordance with any revised Repayment Schedule) if the Lender considers it necessary following any failure by the Borrower to make any Monthly Repayment on the due date in order to ensure that, so that in respect of each Tranche shall amortise fully over Tranche, on the expiry of the Loan Term there will be no amounts owing from the Borrower to the Lender pursuant to this Loan Agreement, or in the event of any manifest error contained in a prior Repayment TermSchedule.
5.2.7 The Borrower shall with respect to each Tranche repay the principal amount of each the Loan for such Tranche outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All Payment for such Tranche, all unpaid fees, costs and expenses and all other sums due and payable by the Borrower to the Lender under this Loan Agreement in respect of such Tranche and the Security Documents shall be paid when due and payableon the expiry of the Loan Term with respect to each Tranche.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all outstanding fees, costs and expenses of or due to the Lender in respect of such Tranche;
5.2.8.2 secondly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly5.2.8.3 thirdly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The For the avoidance of doubt, the Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documentsamount in respect of any Tranche.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Albireo Pharma, Inc.)
Repayments. 5.2.1 5.1.1 The Borrower shall pay all unpaid repay, in advance, principal (and accrued interest in accordance with Clause 6.1) in respect of each Tranche outstanding on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower shall on each Monthly Repayment Date other than PROVIDED THAT, subject to Clause 5.1.2, the First first twelve (12) monthly payments in relation to each Tranche shall comprise interest only (the “Interest Only Period”), and thereafter shall comprise equal instalments of principal and interest. Prior to each Drawdown Date, the Lender shall prepare a repayment schedule specifying the amounts payable, in accordance with the above principles, on each Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount attach such schedule to the Lender relevant Drawdown Notice, as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date as same may be revised from time to time if by the parties so agree Lender in accordance with Clause 5.1.4 (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On 5.1.2 In the date event that the Borrower (i) shall have received a minimum of this Loan Agreement$10,000,000 by way of new Equity Financings occurring on or after 3o July 2019 but before the end of the Interest Only Period (and provided satisfactory evidence thereof to the Lender); and (ii) provided satisfactory evidence to the Lender that a Local Coverage Determination (LCD) affording Medicare coverage for the SelectMDx for Prostate Cancer test has become effective, the Lender Interest Only Period shall provide a repayment schedule be extended to the Borrower setting out the repayment of the Loan Agreement based on the assumption that first eighteen (18) monthly payments in relation to each Tranche (the “Extension Period”) and following the Extension Period the payment period for payments of principal and interest shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached reduced to this Loan Agreement thirty (30) monthly payments, in Schedule D.relation to each Tranche.
5.2.5 5.1.3 All payments that the Borrower makes under this Loan Agreement shall shall, subject to Clause 10.6, be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for 5.1.4 The Lender shall have the initial one year interest-only period, the right to issue a revised Repayment Schedule shall set out equal monthly payments comprising accrued interest and principalfrom time to time if the Lender, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount in its sole discretion, considers it necessary in order to correct an error or to ensure that, in respect of each Loan outstanding together with all accrued and unpaid interestTranche, and on the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by Term there will be no amounts owing from the Borrower to the Lender under this Loan Agreement in respect of the relevant Tranche(s) (and the Security Documents Borrower acknowledges that as a result the monthly amount required to be paid pursuant to Clause 5.1.1 may be increased from time to time in accordance with any revised Repayment Schedule) PROVIDED THAT all monthly repayments after the Interest Only Period shall be paid when due equal instalments of principal and payableinterest.
5.2.8 5.1.5 Subject to clause 5.2.9Clause 5.1.6, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly(i) first, to discharge all outstanding fees, costs and expenses of or due to the Lender in respect of such Tranche;
(ii) secondly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly(iii) thirdly, to reduce the outstanding principal balance of such Tranche.
5.2.9 5.1.6 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documentsamount in respect of any Tranche.
5.2.10 5.1.7 Any amount repaid or prepaid may not be redrawn.
5.2.11 5.1.8 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender Lender, on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) ), the Interim Repayment Payment
5.1.9 If a payment date under Clause 5.1.1 falls on a day which is not a Business Day, the relevant payment date shall discharge interest accrued on be the Tranche for the period from the Drawdown Date to First Monthly Repayment Datenext Business Day in that calendar month.
Appears in 2 contracts
Samples: Loan Agreement (MDxHealth SA), Loan Agreement (MDxHealth SA)
Repayments. 5.2.1 The (a) Subject to paragraph (b) below, the Borrower shall pay all unpaid repay the Loan as from the Starting Date of Repayment in twenty-four (24) consecutive and accrued interest equal semi-annual installments on the dates and in respect the amounts set out in Schedule B (Repayment Schedule), the first of each Tranche which shall occur six (6) months after the Starting Date of Repayment and the last of which shall occur on the Final Maturity Date.
(i) Schedule B (Repayment Schedule) has been prepared as at the date of this Agreement on the assumptions that:
(A) the Disbursement Date will be the Original Scheduled Delivery Date;
(B) the principal amount of the Loan advanced under this Agreement will be the Maximum Loan Amount; and
(C) the Loan will not be prepaid in whole or in part.
(ii) If any of these assumptions proves to be incorrect then, as soon as reasonably practicable, the Facility Agent shall, in consultation with the Borrower and the Funding Entity, prepare a substitute Schedule B (Repayment Schedule) on the same basis as the existing Schedule B (Repayment Schedule) but reflecting the correct Disbursement Date, amount of the Loan advanced or, as the case may be, principal amount of the Loan outstanding on each Monthly after any such prepayment.
(iii) The Facility Agent shall provide the Lenders and the Borrower with a copy of the substitute Schedule B (Repayment Schedule) promptly following its preparation and in any event at least ten (10) Business Days prior to the first or, as applicable, next Repayment Date.
5.2.2 The (iv) Upon the receipt by the Lenders and the Borrower shall repay principal in respect of each Tranche outstanding the substitute Schedule B (Repayment Schedule), subject to there being no manifest error therein, such substitute schedule will replace the existing Schedule B (Repayment Schedule) and all repayments of the Loan will, subject to the further application of clause (i) above, be made in accordance with Clause 5.2.3the substitute Schedule B (Repayment Schedule).
5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only periodc) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable No amounts repaid by the Borrower to the Lender under this Loan Agreement and the Security Documents shall may be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received reborrowed by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such TrancheBorrower.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 1 contract
Repayments. 5.2.1 The (a) Subject to paragraph (b) below (which it is acknowledged that as of the First Deferred Tranche Effective Date and the Second Deferred Tranche Effective Date, did not apply), the Borrower shall pay all unpaid repay (i) the Loan (but for this purpose excluding the Deferred Tranches) in the installments and accrued interest on the dates set out in respect Part A of Schedule B (Repayment Schedule), (ii) the First Deferred Tranche, in the installments and on the dates set out in Part B of Schedule B (Repayment Schedule) and (iii) the Second Deferred Tranche, in the instalments and on the dates set out in Part C of Schedule B (Repayment Schedule), in each case as such Schedule B was substituted on the Second Deferred Tranche outstanding Effective Date, it being acknowledged and agreed that that the repayment installments of the Loan falling during the Second Deferral Period (and for this purpose including the repayment installments of the First Deferred Tranche falling due during this period) shall be deemed to be repaid pursuant to a deemed advance of the Second Deferred Tranche to be made on each Monthly relevant Repayment Date falling during such Second Deferral Period and being, in each case, in an amount equal to the principal amount of the Loan (including the relevant part of the First Deferred Tranche falling due for payment on those Repayment Dates).
(i) Schedule B (Repayment Schedule) has been prepared as at the date of this Agreement on the assumptions that:
(A) the Disbursement Date will be the Original Scheduled Delivery Date;
(B) the principal amount of the Loan advanced under this Agreement will be the Maximum Loan Amount; and
(C) the Loan will not be prepaid in whole or in part.
(ii) If any of these assumptions proves to be incorrect then, as soon as reasonably practicable, the Facility Agent shall, in consultation with the Borrower and the Funding Entity, prepare a substitute Schedule B (Repayment Schedule) on the same basis as the existing Schedule B (Repayment Schedule) but reflecting the correct Disbursement Date, amount of the Loan advanced or, as the case may be, principal amount of the Loan outstanding after any such prepayment.
(iii) The Facility Agent shall provide the Lenders, the Borrower and the Funding Entity with a copy of the substitute Schedule B (Repayment Schedule) promptly following its preparation and in any event at least ten (10) Business Days prior to the first or, as applicable, next Repayment Date.
5.2.2 The (iv) Upon the receipt by the Lenders and the Borrower shall repay principal in respect of each Tranche outstanding the substitute Schedule B (Repayment Schedule), subject to there being no manifest error therein, such substitute schedule will replace the existing Schedule B (Repayment Schedule) and all repayments of the Loan will, subject to the further application of clause (i) above, be made in accordance with Clause 5.2.3the substitute Schedule B (Repayment Schedule).
5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only periodi) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested If with respect to omitted portions.
5.2.4 On the any date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to which an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums principal and/or interest is due and payable by the Borrower to the Lender under this Loan Agreement (the “EUR Amount”) and an amount of principal and/or interest is due and payable by the Borrower under the USD Facility Agreement (the “USD Amount”), the Borrower becomes aware that it will be making a payment that is not sufficient to pay in full both the EUR Amount and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not USD Amount (a Monthly Repayment Date“Short Payment”), the Borrower shall pay inform the Facility Agent and the USD Facility Agent thereof in advance in writing and shall share the Short Payment such that each of the Facility Agent and the USD Facility Agent receives the payment to be made to it under each of the Agreement and the USD Facility Agreement on a pro rata and pari-passu basis as provided in paragraph (ii) below.
(ii) Such pro rata and pari-passu payment shall be made by reference to the Lender on the Drawdown Date (by way of deduction by the Lender of the then outstanding principal amount of the Tranche actually advanced Loan and the then outstanding principal amount of the loan under the USD Facility Agreement (after converting the same into EUR at the Applicable Spot Rate on that date).
(iii) The Borrower only (and, for the avoidance of doubt, not the Finance Parties or the USD Finance Parties) shall be responsible for the ongoing monitoring of the pro- rata and pari-passu payment share so that any Short Payment is made on a pro rata and pari-passu basis between the Lenders and the USD Facility Lenders. If the Borrower fails to comply with the provisions of this Clause 5.1(c), no Finance Party shall be required to repay to the BorrowerBorrower or to any USD Facility Finance Party any amount received from the Borrower as payment for the EUR Amount or the USD Amount, as the case may be.
(iv) On the date on which the Borrower makes a Short Payment it shall provide reasonable written details to each of the Facility Agent and the USD Facility Agent of (A) the Interim Repayment which shall discharge interest accrued then outstanding principal amount of the Loan and the then outstanding principal amount of the loan under the USD Facility Agreement (converted into EUR at the Applicable Spot Rate on that date) and (B) how it calculated the apportionment of the Short Payment, including a screen shot of the Applicable Spot Rate.
(v) The provisions of this Clause 5.1(c) are not to be regarded as a waiver by any Finance Party of any failure by the Borrower to pay in full any EUR Amount on the Tranche for relevant due date and the period from compliance by the Drawdown Date to First Monthly Repayment Date.Borrower with the provisions of this Clause 5.1
Appears in 1 contract
Repayments. 5.2.1 1. The Borrower shall pay all unpaid lender appoints the following bank accounts as the fund collecting accounts, it should be only the accounts collects the money. The lender should provides the transfer in and accrued interest out situation in respect of each Tranche outstanding time. The borrower have the rights to ask the lender to explain huge amount or unusual amount flowing and do the inspection on each Monthly Repayment Date.the accounts. Account name: Ningbo Keyuan Plastics Co., Ltd Account No: 383159759542
5.2.2 The 2. Unless otherwise agreed by both Parties, the Borrower shall repay principal in respect the loan hereunder pursuant to the following item:
(1) The whole loan hereunder shall be repaid on the date of each Tranche outstanding in accordance with Clause 5.2.3expiration of the term of the loan.
5.2.3 (2) The loan hereunder shall be repaid pursuant to the following repayment schedule: Repayment Time Repayment Amounts
(3) Other repayment plan: / To change the above repayment schedule, the Borrower shall on each Monthly Repayment Date other than shall, three banking days prior to expiration of the First Monthly Repayment Date and in respect of each Trancherelevant loan amount, pay a fixed monthly amount apply to the Lender as specified in a fully-amortising writing, and change to such repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior shall be subject to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portionswritten confirmation of both Parties.
5.2.4 On 3. Unless otherwise agreed by both Parties, on condition that the date Borrower defaults in payment of this Loan Agreementboth the principal and interests, the Lender shall provide have the right to decide the sequence of payment of principal and interests; if there are several mature loans and overdue loans hereunder in case of repayment by installments, the Lender shall have the right to decide the sequence of repayment of certain loan by the Borrower; if there are several mature loan contracts between both Parties, the Lender shall have the right to decide the sequence of performance of each contract by the Borrower.
4. Unless otherwise agreed by both Parties, the Borrower may repay the loan in advance, provided that it shall give a repayment schedule written notice of __5___ banking days to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche Lender. The amount repaid in advance shall be drawn on firstly used to repay the last day of loan to be mature lastly, i.e. repayment by the relevant Availability Periodreverse sequence. Such repayment schedule The Lender shall be attached have the right to this Loan Agreement in Schedule D.
5.2.5 All payments that charge the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower compensatory fees for the purposeloan repaid in advance at _/_.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 5. The Borrower shall repay the principal amount loan hereunder by _(1)_ of the following:
(1) The Borrower shall, no later than three__ banking days prior to maturity of each Loan outstanding together with all accrued sum of principal and unpaid interestinterests, deposit adequate funds into the following account for repayment of the loan, and the End Lender shall have the right to actively collect the sum from such account on the mature date of Loan Fee on expiry each sum of the relevant Loan Termprincipal and interest. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payableRepayment account: Ningbo Keyuan Plastics Co., Ltd Account No.: __383159759542____.
5.2.8 Subject to clause 5.2.9, each payment received (2) Other repayment method as agreed by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Trancheboth Parties: _ / .
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 1 contract
Repayments. 5.2.1 (a) The Borrower Company shall have the right, exercisable at any time upon 2 Trading Days notice to the Holder of the Debentures given at any time the Company receives a Conversion Notice and the Conversion Price in effect in connection with such Conversion Notice is less than $1.25, to repay, from funds legally available therefor at the time of such repayment, all or any portion of the outstanding principal amount of the Debentures which have been tendered for conversion, at a price equal to the sum of 120% of the aggregate principal amount of Debentures to be repaid. In addition, the Company shall pay the aggregate of all accrued but unpaid interest and accrued interest other amounts owing in respect of each Tranche outstanding on each Monthly Repayment Datethe Debentures to be repaid. The entire repayment price shall be paid in cash. Notwithstanding anything to the contrary contained herein, the Company shall not have the right to repay the Debenture pursuant to this Section 5(a) if repayment of the Debenture is required pursuant to another section of this Debenture or pursuant to the Purchase Agreement.
5.2.2 The Borrower (b) If any portion of the applicable repayment price under Sections 6(a) shall repay principal not be paid by the Company within thirty (30) calendar days after the original Conversion Date as set forth in respect such Conversion Notice, interest shall accrue thereon at the rate of each Tranche outstanding 15% per annum until the repayment price plus all such interest is paid in full (which amount shall be paid as liquidated damages and not as a penalty). In addition, if any portion of such repayment price remains unpaid for more than seven (7) calendar days after the date due, the Holder of the Debentures subject to such repayment may elect, by written notice to the Company given within seven (7) calendar days after the date due, to either (i) demand conversion in accordance with Clause 5.2.3.
5.2.3 The Borrower the formula and the time frame therefor set forth in Section 4 of all Debentures for which such repayment price, plus accrued liquidated damages thereof, has not been paid in full (the "Unpaid Repayment Shares"), in which event the Per Share Market Price for such shares shall be the lower of the Per Share Market Price calculated on each Monthly the date such repayment price was originally due and the Per Share Market Price as of the Holder's written demand for conversion, or (ii) invalidate ab initio such repayment, notwithstanding anything herein contained to the contrary. If the Holder elects option (i) above, the Company shall within three (3) Trading Days of its receipt of such election deliver to the Holder the shares of the Common Stock issuable upon conversion of the Unpaid Repayment Date other than Shares subject to such Holder conversion demand and otherwise perform its obligations hereunder with respect thereto; or, if the First Monthly Repayment Date Holder elects option (ii) above, the Company shall promptly, and in respect any event not later than three (3) Trading Days from receipt of each TrancheXxxxxx's notice of such election, pay a fixed monthly amount return to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for Holder all of the initial one-year interest-only period) issued Debentures. Notwithstanding anything to the contrary contained herein, the Company may not, without the written consent of the holder, repay Debentures unless both the payment thereof and the retention of such paid cash by the Lender holder is consented to in writing free of any subordination prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date thereto by all lenders or holders of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment any indebtedness or class of securities of the Loan Agreement based on Company who have the assumption that each Tranche shall be drawn on right to consent to or force the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect subordination of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranchepayment.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 1 contract
Repayments. 5.2.1 5.1.1 The Borrower shall pay all unpaid repay, in advance, principal (and accrued interest in accordance with Clause 6.1) in respect of each Tranche outstanding on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower shall on each Monthly Repayment Date other than in the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as amounts specified in a fully-amortising the repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the relevant Drawdown Date and attached to the relevant Drawdown Notice as may be revised from time to time if by the parties so agree Lender in accordance with Clause 5.1.3 (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with ) PROVIDED THAT the Commission. Confidential treatment has been requested with respect first twelve (12) monthly payments in relation to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on comprise interest only (the last day of the relevant Availability “Interest Only Period. Such repayment schedule ”), and thereafter shall be attached to this Loan Agreement in Schedule D.comprise principal and interest.
5.2.5 5.1.2 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for 5.1.3 The Lender shall have the initial one year interest-only period, the right to issue a revised Repayment Schedule shall set out equal monthly payments comprising accrued interest and principalfrom time to time if the Lender, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount in its sole discretion, considers it necessary in order to correct an error or to ensure that, in respect of each Loan outstanding together with all accrued and unpaid interestTranche, and on the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by Term there will be no amounts owing from the Borrower to the Lender under this Loan Agreement in respect of the relevant Tranche(s) (and the Security Documents shall Borrower acknowledges that as a result the monthly amount required to be paid when due and payablepursuant to Clause 5.1.1 may be increased from time to time in accordance with any revised Repayment Schedule).
5.2.8 5.1.4 Subject to clause 5.2.9Clause 5.1.5, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly(i) first, to discharge all outstanding fees, costs and expenses of or due to the Lender in respect of such Tranche;
(ii) secondly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly(iii) thirdly, to reduce the outstanding principal balance of such Tranche.
5.2.9 5.1.5 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documentsamount in respect of any Tranche.
5.2.10 5.1.6 Any amount repaid or prepaid may not be redrawn.
5.2.11 5.1.7 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender Lender, on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) ), the Interim Repayment Payment.
5.1.8 If a payment date under Clause 5.1.1 falls on a day which is not a Business Day, the relevant payment date shall discharge interest accrued on be the Tranche for the period from the Drawdown Date to First Monthly Repayment Datenext Business Day in that calendar month.
Appears in 1 contract
Samples: Loan Agreement (Orphazyme a/S)
Repayments. 5.2.1 The the Borrower shall pay all unpaid and accrued interest in respect of each the Tranche outstanding on each Monthly Repayment Date.
5.2.2 The (principal and interest accrued thereon) via bank transfer to an account designated by Lender by way of forty-eight (48) monthly payments as follows: the Borrower shall repay principal first pay twelve (12) monthly payments of interest only, and thereafter, the Borrower shall pay, in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed principal and interest accrued thereon in thirty-six (36) equal monthly payments, each such payment in an amount equal to 3.178% of the amount of the Tranche with the last of such payments already paid to the Lender as the Advance Payment. For the avoidance of doubt, each of such thirty-six (36) monthly payments is already inclusive of interest. Each monthly payment shall be paid to the Lender on the first Business Day of each calendar month or, if such day is not a Business Day, the first Business Day thereafter, commencing on (and including) the first calendar month following the Drawdown Date, all as specified in a fully-amortising amortizing repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9Clause 5.2.2, each payment received by the Lender in respect of any the Tranche shall be applied as follows:
5.2.8.1 5.2.1.1 firstly, to discharge all outstanding fees, costs and expenses of or due to the Lender in respect of the Tranche;
5.2.1.2 secondly, to discharge all accrued interest in respect of such the Tranche; and
5.2.8.2 secondly5.2.1.3 thirdly, to reduce the outstanding principal balance of such the Tranche.
5.2.9 The 5.2.2 For the avoidance of doubt, the Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documentsamount.
5.2.10 5.2.3 Any amount repaid or prepaid may not be redrawn.
5.2.11 5.2.4 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the BorrowerTranche) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date. For the purpose of this Clause 5.2.4 “Interim Repayment” shall mean an amount equal to the Monthly Repayment amount multiplied by a fraction of which numerator shall be the number of days from the relevant Drawdown Date to the First Monthly Repayment Date of the Tranche and denominator of which shall be the number of calendar days in the month of the Drawdown Date. For the avoidance of doubt, the Interim Repayment shall not be applied towards a repayment of the principal amount of the Tranche.
Appears in 1 contract
Samples: Loan Agreement (BioLineRx Ltd.)
Repayments. 5.2.1 The 1. Unless otherwise agreed by both parties, the Borrower shall pay repay the borrowing under the Contract according to the repayment plan (2) as listed below:
(1) To repay all unpaid borrowings under the Contract on the maturity date of the borrowing.
(2) To repay the borrowings under the Contract according to the following repayment plan: 30 January 2011 30 million 30 April 2011 30 million 30 July 2011 30 million 30 October 2011 30 million 30 January 2012 30 million 30 April 2012 30 million 30 July 2012 30 million 30 October 2012 30 million 30 January 2013 30 million 29 April 2013 30 million If changes to the above repayment plan are required, the Borrower shall submit written applications to the Lender 60 bank business days prior to the maturity dates of the respective loans. Changes to the repayment plan are subject to the joint written confirmations of both parties.
2. Unless otherwise agreed by both parties, where both the principal and accrued interest of the borrowings are overdue by the Borrower, the Lender shall have the right to decide on the order of repayments of principal or interest; where there are a number of borrowings due and overdue under the repayments by instalments of the Contract, the Lender shall have the right to decide on the order of repayments of certain instalments of the Borrower; where there are a number of overdue borrowing contracts between the Borrower and the Lender, the Lender shall have to decide the order of the contracts fulfilled by each repayment of the Borrower.
3. Unless otherwise agreed by both parties, the Borrower may make early repayments by giving N/A bank business days’ written notice in advance to the Lender. The amount of early repayment shall apply first to the last instalment of the loan due in the reverse order of repayment. The Lender shall have the right to charge a compensation fee in respect of each Tranche outstanding the amount of early repayment based on each Monthly Repayment Datethe tariff of remaining number of days of credit X normal loan interest rate marked up by 50% interest.
5.2.2 4. The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.according to method (1) as listed below:
5.2.3 (1) The Borrower shall on each Monthly Repayment Date other deposit sufficient funds no later than 2 bank business days in advance of the First Monthly Repayment Date and in respect due date of each Tranche, pay a fixed monthly amount to instalment of principal and interest into the Lender as specified in a fully-amortising following repayment schedule (fully-amortised except account ready for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”)repayment. [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the The Lender shall provide a repayment schedule have the right to deduct and collect the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to funds from this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds account on the due date to an account which the Lender may specify to the Borrower of each instalment of principal and interest unilaterally. Name of Account for the purposeRepayment: China Northeast Logistics City Co., Ltd. Account Number: 814009361608091001.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable (2) Other repayment method agreed by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.both parties: N/A.
Appears in 1 contract
Samples: Renminbi Denominated Borrowing Contract (Medium/Long Term) (CHINA METRO-RURAL HOLDINGS LTD)
Repayments. 5.2.1 The (a) Subject to paragraph (b) below, the Borrower shall pay all unpaid repay the Loan as from the Starting Date of Repayment in twenty-four (24) consecutive and accrued interest equal semi-annual installments on the dates and in respect the amounts set out in Schedule B (Repayment Schedule), the first of each Tranche which shall occur six (6) months after the Starting Date of Repayment and the last of which shall occur on the Final Maturity Date.
(i) Schedule B (Repayment Schedule) has been prepared as at the date of this Agreement on the assumptions that:
(A) the Disbursement Date will be the Original Scheduled Delivery Date;
(B) the principal amount of the Loan advanced under this Agreement will be the Maximum Loan Amount; and
(C) the Loan will not be prepaid in whole or in part.
(ii) If any of these assumptions proves to be incorrect then, as soon as reasonably practicable, the Facility Agent shall, in consultation with the Borrower and the Funding Entity, prepare a substitute Schedule B (Repayment Schedule) on the same basis as the existing Schedule B (Repayment Schedule) but reflecting the correct Disbursement Date, amount of the Loan advanced or, as the case may be, principal amount of the Loan outstanding on each Monthly after any such prepayment.
(iii) The Facility Agent shall provide the Lenders, the Borrower and the Funding Entity with a copy of the substitute Schedule B (Repayment Schedule) promptly following its preparation and in any event at least ten (10) Business Days prior to the first or, as applicable, next Repayment Date.
5.2.2 The (iv) Upon the receipt by the Lenders and the Borrower shall repay principal in respect of each Tranche outstanding the substitute Schedule B (Repayment Schedule), subject to there being no manifest error therein, such substitute schedule will replace the existing Schedule B (Repayment Schedule) and all repayments of the Loan will, subject to the further application of clause (i) above, be made in accordance with Clause 5.2.3the substitute Schedule B (Repayment Schedule).
5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only periodi) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested If with respect to omitted portions.
5.2.4 On the any date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to which an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums principal and/or interest is due and payable by the Borrower to the Lender under this Loan Agreement (the “EUR Amount”) and an amount of principal and/or interest is due and payable by the Borrower under the USD Facility Agreement (the “USD Amount”), the Borrower becomes aware that it will be making a payment that is not sufficient to pay in full both the EUR Amount and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not USD Amount (a Monthly Repayment Date“Short Payment”), the Borrower shall pay inform the Facility Agent and the USD Facility Agent thereof in advance in writing and shall share the Short Payment such that each of the Facility Agent and the USD Facility Agent receives the payment to be made to it under each of the Agreement and the USD Facility Agreement on a pro rata and pari-passu basis as provided in paragraph (ii) below.
(ii) Such pro rata and pari-passu payment shall be made by reference to the Lender on the Drawdown Date (by way of deduction by the Lender of the then outstanding principal amount of the Tranche actually advanced Loan and the then outstanding principal amount of the loan under the USD Facility Agreement (after converting the same into EUR at the Applicable Spot Rate on that date).
(iii) The Borrower only (and, for the avoidance of doubt, not the Finance Parties or the USD Finance Parties) shall be responsible for the ongoing monitoring of the pro-rata and pari-passu payment share so that any Short Payment is made on a pro rata and pari-passu basis between the Lenders and the USD Facility Lenders. If the Borrower fails to comply with the provisions of this Clause 5.1(c), no Finance Party shall be required to repay to the BorrowerBorrower or to any USD Facility Finance Party any amount received from the Borrower as payment for the EUR Amount or the USD Amount, as the case may be.
(iv) On the date on which the Borrower makes a Short Payment it shall provide reasonable written details to each of the Facility Agent and the USD Facility Agent of (A) the Interim Repayment which shall discharge interest accrued then outstanding principal amount of the Loan and the then outstanding principal amount of the loan under the USD Facility Agreement (converted into EUR at the Applicable Spot Rate on that date) and (B) how it calculated the apportionment of the Short Payment, including a screen shot of the Applicable Spot Rate.
(v) The provisions of this Clause 5.1(c) are not to be regarded as a waiver by any Finance Party of any failure by the Borrower to pay in full any EUR Amount on the Tranche for relevant due date and the period from compliance by the Drawdown Date to First Monthly Repayment Date.Borrower with the provisions of this Clause 5.1
Appears in 1 contract
Repayments. 5.2.1 The the Borrower shall pay all unpaid and accrued interest in respect of each Tranche outstanding on (principal and interest accrued thereon) separately by way of standing order (“Hora’at Xxxx”), by way of thirty-six (36) monthly payments as follows: with respect to each Monthly Repayment Date.
5.2.2 The Tranche, the Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and pay, in respect of each Tranche, pay a fixed principal and interest accrued thereon in thirty-six (36) equal monthly payments, each such payment in an amount equal to 3.3109% of the amount of such Tranche. Each monthly payment shall be paid to the Lender on the first Business Day of each calendar month or, if such day is not a Business Day, the first Business Day thereafter, commencing on (and including) the first calendar month following the Drawdown Date of such Tranche, all as specified in a fully-amortising amortizing repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the Drawdown Date as may be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Period. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9Clause 5.2.2, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 5.2.1.1 firstly, to discharge all outstanding fees, costs and expenses of or due to the Lender in respect of such Tranche;
5.2.1.2 secondly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly5.2.1.3 thirdly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The 5.2.2 For the avoidance of doubt, the Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documentsamount in respect of any Tranche.
5.2.10 5.2.3 Any amount repaid or prepaid may not be redrawn.
5.2.11 5.2.4 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.Monthly
Appears in 1 contract
Repayments. 5.2.1 5.1.1 The Borrower shall pay all unpaid repay, in advance, principal (and accrued interest in accordance with Clause 6.1) in respect of each Tranche outstanding on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower shall on each Monthly Repayment Date other than in the First Monthly Repayment Date and in respect of each Tranche, pay a fixed monthly amount to the Lender as amounts specified in a fully-amortising the repayment schedule (fully-amortised except for the initial one-year interest-only period) issued by the Lender prior to the relevant Drawdown Date and attached to the relevant Drawdown Notice as may be revised from time to time if by the parties so agree Lender in accordance with Clause 5.1.3 (the “"Repayment Schedule”). [***] Certain information has been omitted and filed separately with ") PROVIDED THAT the Commission. Confidential treatment has been requested with respect first twelve (12) monthly payments in relation to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on comprise interest only (the last day of the relevant Availability "Interest Only Period. Such repayment schedule "), and thereafter shall be attached to this Loan Agreement in Schedule D.comprise principal and interest.
5.2.5 5.1.2 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purpose.
5.2.6 Except for 5.1.3 The Lender shall have the initial one year interest-only period, the right to issue a revised Repayment Schedule shall set out equal monthly payments comprising accrued interest and principalfrom time to time if the Lender, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount in its sole discretion, considers it necessary in order to correct an error or to ensure that, in respect of each Loan outstanding together with all accrued and unpaid interestTranche, and on the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by Term there will be no amounts owing from the Borrower to the Lender under this Loan Agreement in respect of the relevant Tranche(s) (and the Security Documents shall Borrower acknowledges that as a result the monthly amount required to be paid when due and payablepursuant to Clause 5.1.1 may be increased from time to time in accordance with any revised Repayment Schedule).
5.2.8 5.1.4 Subject to clause 5.2.9Clause 5.1.5, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly(i) first, to discharge all outstanding fees, costs and expenses of or due to the Lender in respect of such Tranche;
(ii) secondly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly(iii) thirdly, to reduce the outstanding principal balance of such Tranche.
5.2.9 5.1.5 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documentsamount in respect of any Tranche.
5.2.10 5.1.6 Any amount repaid or prepaid may not be redrawn.
5.2.11 5.1.7 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender Lender, on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) ), the Interim Repayment Payment.
5.1.8 If a payment date under Clause 5.1.1 falls on a day which is not a Business Day, the relevant payment date shall discharge interest accrued on be the Tranche for the period from the Drawdown Date to First Monthly Repayment Datenext Business Day in that calendar month.
Appears in 1 contract
Samples: Loan Agreement (Orphazyme a/S)
Repayments. 5.2.1 5.1 The Lender reserves the right to attach conditions to the approval of a loan, which may include but is not limited to; requirement to build savings in a non-withdrawable account whilst loan repayments are made; requirement to transfer a benefit from which repayments will be taken.
5.2 The Borrower shall pay all unpaid and accrued interest in respect of each Tranche outstanding agrees to make repayments on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding the due dates in accordance with Clause 5.2.3the terms of the Loan Agreement.
5.2.3 5.3 Failure to make the agreed repayments in accordance with the Loan Agreement constitutes a breach of the Terms & Conditions.
5.4 The Lender reserves the right to charge the Borrower default interest which can be retrospectively charged from the first day of the breach.
5.5 The Lender reserves the right to withhold the Borrower’s shares in the event of a default. Should the Borrower be remanded or sentenced by the court under Her Majesty’s Prison service and begin to serve any length of sentence, the account will automatically be considered to be defaulted. The account will also automatically be considered to be defaulted if the Borrower’s membership of Sheffield Credit Union is revoked (following appeal process).
5.6 In the event of a default by the Borrower and should a satisfactory proposal for payment from the Borrower not be reached or maintained, the loan balance and any accrued interest may be passed to an external debt collection agency. The Borrower shall on each Monthly Repayment Date other than the First Monthly Repayment Date and will be notified in respect writing of each Tranche, pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for the initial one-year interest-only period) issued this by the Lender prior to the Drawdown Date as may Lender, allowing not less than 7 days notice. Significant additional costs will be revised from time to time if the parties so agree (the “Repayment Schedule”). [***] Certain information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to omitted portions.
5.2.4 On the date of this Loan Agreement, the Lender shall provide a repayment schedule passed to the Borrower setting out up to a maximum of 50% plus VAT of the loan balance and interest. In addition an administration fee of £20 may be added by the Lender.
5.7 Information about the Borrower's loan and balance may be passed to the Department of Work and Pensions for their consideration of deductions from any eligible benefits that the Borrower may be entitled to.
5.8 The Lender may also make an application for a court order for the repayment of the Loan Agreement based on the assumption that each Tranche shall be drawn on the last day of the relevant Availability Periodany unpaid debts. Such repayment schedule shall be attached to this Loan Agreement in Schedule D.
5.2.5 All payments that the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender This may specify include but is not limited to the Borrower following actions being taken; applications for the purpose.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount county court judgements; attachment of each Loan outstanding together with all accrued and unpaid interest, earnings; enforcement and the End use of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payablebailiffs.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 1 contract
Repayments. 5.2.1 17.1 The Borrower shall pay all unpaid and accrued interest in respect of each Tranche outstanding on each Monthly Repayment Date.
5.2.2 The Borrower shall repay principal in respect of each Tranche outstanding in accordance with Clause 5.2.3.
5.2.3 The Borrower Successful Applicant shall on each Monthly Repayment Date other than the First Monthly Repayment Date and in respect of each Tranche, demand pay a fixed monthly amount to the Lender as specified in a fully-amortising repayment schedule (fully-amortised except for Bank the initial one-year interest-only period) issued by Indebtedness or the Lender prior to the Drawdown Date as may be revised balance thereof from time to time if which are still outstanding with interest thereon at the parties so agree (rate more specifically stated under Clause 7 above, and all other monies herein covenanted to be paid and until demand as aforesaid shall repay the “Repayment Schedule”). [***] Certain information has been omitted Facility with interest thereon at the aforesaid rate by the number of monthly installments and filed separately amount indicated herein or otherwise at the Bank’s discretion with prior notice to the Successful Applicant.
17.2 The first of such installment is to be paid on the first day of the next subsequent month following the complete disbursement of the Facility or such other date as the Bank in its absolute discretion shall decide and each subsequent installment shall be paid on the first day of every consecutive month or on whichever date as the Bank deems fit with prior notice until the whole Indebtedness and interest thereon shall be fully paid and satisfied.
17.3 During the repayment period, the principal amount together with the Commission. Confidential treatment has been requested with respect interest amount shall be paid by way of equal monthly installments as set out in the Disbursement Letter which also sets out the Facility monthly installment period and other information sent to omitted portionsthe successful applicant upon approval of the Facility.
5.2.4 On 17.4 The Bank shall be entitled at its absolute discretion to withdraw or terminate the date of this Loan Agreement, the Lender shall provide a repayment schedule to the Borrower setting out Facility and demand the repayment of all sums of money owing under this Facility or vary or amend the Loan Agreement based Facility on such terms as the Bank may at its absolute discretion determine.
17.5 In the event the Bank shall demand repayment of the Facility, the Successful Applicant shall be liable to pay additional default interest on the assumption that each Tranche outstanding Facility amount and unpaid Facility monthly installments after demand for repayment at such interest rate as shall be drawn imposed by the Bank at its sole and absolute discretion. Default interest shall accrue on a daily basis (after judgment or court order as well as before) and remaining unpaid, shall be debited to the last day account of the relevant Availability Period. Such repayment schedule shall Successful Applicant at the end of every calendar month and be attached liable thereupon to this Loan Agreement in Schedule D.
5.2.5 All payments that interest at the Borrower makes under this Loan Agreement shall be made in full, without any deduction, set-off or counterclaim and in immediately available cleared funds on the due date to an account which the Lender may specify to the Borrower for the purposedefault interest as therein provided.
5.2.6 Except for the initial one year interest-only period, the Repayment Schedule shall set out equal monthly payments comprising accrued interest and principal, so that each Tranche shall amortise fully over the Repayment Term.
5.2.7 The Borrower shall repay the principal amount of each Loan outstanding together with all accrued and unpaid interest, and the End of Loan Fee on expiry of the relevant Loan Term. All other sums due and payable by the Borrower to the Lender under this Loan Agreement and the Security Documents shall be paid when due and payable.
5.2.8 Subject to clause 5.2.9, each payment received by the Lender in respect of any Tranche shall be applied as follows:
5.2.8.1 firstly, to discharge all accrued interest in respect of such Tranche; and
5.2.8.2 secondly, to reduce the outstanding principal balance of such Tranche.
5.2.9 The Lender may in its discretion apply any payment received or recovered from the Borrower to discharge any due and unpaid fees, costs, expenses or indemnities under the Finance Documents.
5.2.10 Any amount repaid or prepaid may not be redrawn.
5.2.11 If the Drawdown Date is not a Monthly Repayment Date, the Borrower shall pay to the Lender on the Drawdown Date (by way of deduction by the Lender of the amount of the Tranche actually advanced to the Borrower) the Interim Repayment which shall discharge interest accrued on the Tranche for the period from the Drawdown Date to First Monthly Repayment Date.
Appears in 1 contract
Samples: Personal Loan Agreement
