Required Amortization Payments Sample Clauses
Required Amortization Payments. The Required Amortization Payments shall:
(i) be applied to the Total Amortization Amount on a pro rata basis determined by the Administrative Agent as of the date of each Required Amortization Payment; and
(ii) continue until the earlier of (i) a Full Waiver or Cure, or (ii) all Total Outstandings have been Fully Satisfied.
Required Amortization Payments. On each Payment Date occurring from and after the Modification Effective Date, in addition to the monthly payments of interest required to be paid by Borrower pursuant to Section 2.5 of the Existing Loan Agreement, Borrower shall make an amortization payment in the amount of (i) $250,000 on the Payment Dates occurring on January 11, 2003; February 11, 2003; March 11, 2003 and April 11, 2003 and (ii) $200,000 on each subsequent Payment Date (each, a “Required Amortization Payment”), each of which shall be applied by Lender towards the outstanding principal amount of the Loan. Accordingly, all references in the Existing Loan Agreement to “Debt Service” or the “Required Debt Service Payment” (including Section 7.1(i) and (ii)) shall be deemed to include the Required Amortization Payments.