Required Principal Payments. All principal shall be paid on the Maturity Date.
Required Principal Payments. In addition to, and not in lieu of, each monthly interest payment required under Section 5.1 hereof, commencing May 10, 2015, and continuing on the tenth (10th) day of each successive month thereafter until the Final Maturity Date, principal shall be due and payable in monthly installments. Each such installment shall be in an amount that would be sufficient to fully amortize the Loan on a twenty-five (25) year amortization schedule at a per annum rate of six percent (6%). Notwithstanding anything to the contrary, the aggregate outstanding balance of the Loan plus all accrued but unpaid interest shall be due and payable on the Final Maturity Date.
Required Principal Payments. Required Principal Payments shall be delivered to Bank immediately upon receipt thereof, to be applied first to the Term Loan as a permanent reduction of the principal amount thereof until reduced to zero (-0-), and then to the Line of Credit Loan as a permanent reduction of the principal amount thereof (unless Borrower elects to apply same otherwise by written notice to Bank).
Required Principal Payments. The aggregate outstanding principal balance of (a) the SBAC Revolving Loans shall never exceed the lesser of the SBAC Borrowing Base and the SBAC Revolving Commitments and (b) the SBF Revolving Loans shall never exceed the lesser of the SBF Borrowing Base and the SBF Revolving Commitments. Should the principal balance outstanding under any Loan ever exceed any of the foregoing limits, Borrowers covenant to make a principal payment to the Administrative Agent in an amount sufficient to bring the aggregate principal balance to within the foregoing limits in the manner and within the time limit required under Section 2.11.
Required Principal Payments. Borrower shall pay the principal of the Note as therein provided and as may be provided in the Specific Loan Terms attached hereto. Further, if, at any time, the outstanding balance of the Loan exceeds (a) the Loan Amount, (b) the Loans-to-One-Borrower Limitation, (c) the Borrowing Base approved by Lender, or (d) as to any individual Property, the Loan Allocation for that Property, then Borrower shall immediately pay in cash to Lender, following receipt of a written demand therefor, the amount of such excess. Further, at any time after the recording of a Mortgage in the Official Records, Lender shall have the right, but not at the expense of Borrower, unless such appraisal is required by federal regulations applicable to Lender, to obtain an appraisal of any Property covered by such Mortgage, from an appraiser satisfactory to Lender, and in the event such appraisal determines that the portion of the Loan disbursed by Lender for such Property exceeds the Loan Allocation for such Property, then Borrower shall also immediately pay in cash to Lender, following demand therefor, the amount of such excess. Notwithstanding the foregoing provisions of this Paragraph 8, but subject to all other provisions of this Loan Agreement, the aggregate Loan Allocations for Properties included in the Borrowing Base may exceed the Loan Amount; provided, however, (i) in no event shall such aggregate Loan Allocations exceed the amounts specified in Paragraph 19 of the Specific Loan Terms, and (ii) in no event shall the outstanding principal balance of the Loan exceed the Loan Amount.
Required Principal Payments. The aggregate outstanding balance of the Loan plus all accrued but unpaid interest shall be due and payable in full on the Final Maturity Date.
Required Principal Payments. Borrower shall make each Required Principal Payment in connection with each sale of a Home and Lot.
Required Principal Payments. (a) All principal shall be paid on or before the Maturity Date.
(b) If, at any time, Lender has determined in its reasonable discretion, or Borrower has actual knowledge, that the outstanding principal amount of the Loan exceeds the Borrowing Base, then Borrower shall promptly, but no later than ten (10) Business Days from receipt of notice or actual knowledge, prepay the Loan in an amount equal to the difference between the Borrowing Base and the outstanding principal amount of the Loan, as determined by Lender in its reasonable discretion.
Required Principal Payments. The outstanding principal balance of this Note shall be amortized over a period of sixty (60) months, beginning on the date of disbursement of the Draw (the “Draw Date”), with principal payable in equal successive installments on the first (1st) day of each calendar quarter over said amortization term (except that if the period between the Draw Date and the first day of the next calendar quarter is less than a full quarter, then the payment applicable to such partial quarter shall be prorated based on a thirty (30) day month), and continuing up to and including July 1, 2020, with a final installment consisting of all remaining unpaid principal due and payable in full on the Term Loan Maturity Date.
Required Principal Payments. The Company shall pay, and there shall become due and payable with respect to the Notes, the principal amount of $80,000,000 (each such payment a “Required Principal Payment”) on October 4 in each year commencing on October 4, 2013 to and including October 4, 2016; provided, however, that the principal amount of the Notes prepaid or purchased pursuant to Section 8.3 shall be applied against the principal amount of the Notes due at maturity and each Required Principal Payment becoming due under this Section 8.2(a) in inverse order of their scheduled due dates; and provided further that upon any partial prepayment of the Notes pursuant to Section 8.2(b) or Section 10.7, the principal amount of each Required Principal Prepayment of the Notes becoming due under this Section 8.2(a) on and after the date of such prepayment shall be reduced in the same proportion as the aggregate unpaid principal amount of the Notes is reduced as a result of such prepayment. Each Required Principal Payment shall be at 100% of the principal amount paid, together with interest accrued thereon to the date of payment. The entire remaining outstanding principal amount of the Notes, together with all accrued and unpaid interest thereon, shall be due and payable on October 4, 2017.
