Term Notes and Amortization Sample Clauses

Term Notes and Amortization. The Borrower's obligation to pay the principal of, and interest on, the Term Loans maintained outstanding by each Term Lender shall be further evidenced by the Borrower's issuance, execution and delivery of a Term Note payable to the order of each such Term Lender in the principal amount of such Term Lender's Term Commitment, and shall be dated as of the date of issuance of such Term Note. The aggregate principal amount of the Term Notes applicable to the aggregate Term Loans of all the Term Lenders shall be payable in quarterly installments of the amounts set forth below: Quarterly Date Amount -------------- -------------------------- September 30, 2002 $ 375,000 December 31, 2002 $ 375,000 March 31, 2003 $ 375,000 June 30, 2003 $ 375,000 September 30, 2003 $ 375,000 December 31, 2003 $ 375,000 March 31, 2004 $ 375,000 June 30, 2004 $ 375,000 September 30, 2004 $ 375,000 December 31, 2004 $ 375,000 March 31, 2005 $ 375,000 June 30, 2005 $ 375,000 September 30, 2005 $ 375,000 December 31, 2005 $ 375,000 March 31, 2006 $ 375,000 June 30, 2006 $ 375,000 September 30, 2006 $36,000,000 December 31, 2006 $36,000,000 March 31, 2007 $36,000,000 Term Maturity Date Aggregate Unpaid Principal Balance The first such quarterly installment shall be payable on September 30, 2002, and the remaining quarterly installments shall be payable on each Quarterly Date thereafter, with the final installment in the amount of the aggregate unpaid principal balance then owing being payable on or before the Term Maturity Date.
Sample 1
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Term Notes and Amortization. The Borrower's obligation to pay the principal of, and interest on, the Term Loans maintained outstanding by each Lender shall be further evidenced by the Borrower's issuance, execution and delivery of a Term Note payable to the order of each such Lender in the amount of such Lender's Term Loan Commitment (if issued prior to the Closing Date) or in the principal amount of such Lender's Term Loans (if issued after the Closing Date), and dated as of the date of issuance of such Term Note. The aggregate amount of the Term Notes applicable to the aggregate Term Loans of all Lenders shall be payable in monthly installments of principal and interest in the amount of $384,665 each. Each such installment shall be applied first to accrued but unpaid interest and then to principal. The first such monthly installment shall be payable on January 31, 2000, and the remaining monthly installments shall be payable on each Monthly Date thereafter, with the final installment in the amount of the aggregate unpaid principal balance then owing, together with all accrued and unpaid interest, being payable on or before the Term Loan Maturity Date. Notwithstanding anything to the contrary contained herein, the Borrower shall make a payment of all accrued and unpaid interest on the outstanding principal balance of the Term Loans on December 31, 1999.
Sample 1
Term Notes and Amortization. The Borrower's obligation to pay the principal of, and interest on, the Term A Loans and SPA Term Loans maintained outstanding by each Lender shall be further evidenced by the Borrower's issuance, execution and delivery of a Term A Note and SPA Term Note, respectively, payable to the order of each such Lender in the amount of such Lender's Term A Loan Commitment (if issued at or prior to the Closing Date) and SPA Term Loan Commitment (if issued prior to the Separation Agreement Payment Date), respectively, or in the principal amount of such Lender's Term A Loans (if issued after the Closing Date) and SPA Term Loans (if issued after the Separation Agreement Payment Date), respectively (if issued after the Closing Date), and dated as of the date of issuance of such Term A Note and SPA Term Note, respectively. The aggregate principal amount of the Term A Notes applicable to the aggregate Term A Loans of all Lenders shall be payable in monthly installments of principal and interest in the amount of $92,631.29 each, and the aggregate principal amount of the SPA Term Notes applicable to the aggregate SPA Term Loans of all Lenders shall be payable in monthly installments of principal in the amount of $50,000.00 each plus interest thereon. Each such installment shall be applied first to accrued but unpaid interest on the Term A Loans and the SPA Term Loans, as applicable, and then to principal on the Term A Loans and the SPA Term Loans, as applicable. The first such monthly installment with respect to Term A Loans shall be payable on August 1, 2003, and the first such monthly installments with respect to SPA Term Loans shall be payable on the first day of the calendar month immediately following the Separation Agreement Payment Date. The remaining monthly installments with respect to each of the Term A Loans and the SPA Term Loans shall be payable on each Monthly Date after the applicable date set forth in the preceding sentence, with the final installments in the amounts of the aggregate unpaid principal balance on the Term A Loans and the SPA Term Loans, as applicable, then owing, together with all accrued and unpaid interest, being payable on or before the Term A Loan Maturity Date in the case of the Term A Loans and the SPA Term Loan Maturity Date in the case of the SPA Term Loans.
Sample 1
Term Notes and Amortization 
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Related to Term Notes and Amortization

  • Amortization Payments The Company shall make three payments (each an “Amortization Payment”) as follows: on the six-month anniversary of the Original Issue Date, on the seven-month anniversary of the Original Issue Date, and on the Maturity Date (each such date a “Payment Date”), provided that if any Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day. Each Amortization Payment shall be equal to one-third of the original principal amount of the Note, plus all accrued interest thereon as of the Payment Date, as adjusted pursuant to Section 2(c) below. At the Holder’s option (except as set forth herein), payment may be made in cash or in duly authorized, validly issued, fully paid and non-assessable shares of Common Stock, provided the Company complies with the Equity Conditions provided in Section 2(d), below.

  • Repayment and Amortization of Loans; Evidence of Debt (a) The Borrowers hereby unconditionally promise to pay (i) to the Administrative Agent for the account of each Revolving Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date, (ii) to the Administrative Agent the then unpaid amount of each Protective Advance on the earlier of the Maturity Date and demand by the Administrative Agent, and (iii) to the Administrative Agent the then unpaid principal amount of each Overadvance on the earlier of the Maturity Date and demand by the Administrative Agent.

  • Term Notes The Term Loan made by each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request of any Lender, Borrowers shall deliver a Term Note to such Lender.

  • Rapid Amortization Events If any one of the following events occurs during the Managed Amortization Period:

  • Collections Following Amortization On the Amortization Date and on each day thereafter, Servicer shall set aside and hold in trust for the benefit of Agent and the Purchasers, in the Collection Accounts in the manner set forth in Sections 7.1(j) and 8.2, all Collections and/or Deemed Collections received on such day and any additional amount for the payment of any Aggregate Unpaids owed by Seller and not previously paid by Seller in accordance with Section 2.1. On and after the Amortization Date, Servicer shall, at any time upon the request from time to time by (or pursuant to standing instructions from) Agent (i) remit to the Second-Tier Account the amounts set aside pursuant to the preceding sentence (to the extent such amounts are not already on deposit therein) and (ii) apply such amounts at Agent’s direction to reduce the Aggregate Capital and any other Aggregate Unpaids (it being understood and agreed that, in any event, no portion of the RPA Deferred Purchase Price may be paid to Seller on a date on or after the Amortization Date and prior to the Final Payout Date). If there shall be insufficient funds on deposit for Servicer to distribute funds in payment in full of the aforementioned amounts, Servicer shall distribute funds in accordance with the applicable Payment Instructions: first, to the reimbursement of Agent’s and each Purchaser’s costs of collection and enforcement of this Agreement, second, ratably to the payment of all accrued and unpaid fees under any Fee Letter and all accrued and unpaid Purchaser Yield, third, to the payment of Servicer’s reasonable out-of-pocket costs and expenses in connection with servicing, administering and collecting the Receivables, including the Servicing Fee, if Seller, or one of its Affiliates is not then acting as Servicer, fourth, to the ratable reduction of Aggregate Capital to zero, fifth, for the ratable payment of all other unpaid Obligations, provided that to the extent such Obligations relate to the payment of Servicer costs and expenses, including the Servicing Fee, when Seller or one of its Affiliates is acting as Servicer, such costs and expenses will not be paid until after the payment in full of all other Obligations, sixth, to the ratable payment in full of all other Aggregate Unpaids, and seventh, after the Facility Termination Date when the Aggregate Unpaids have been indefeasibly reduced to zero, to Seller as RPA Deferred Purchase Price, any remaining Collections.

  • Negative Amortization To the extent any Mortgage Loan provides for negative amortization, such as a GPM or GPARM Loan, the Servicer must assure that the Unpaid Principal Balance of such Mortgage Loan never exceeds the related Maximum Negative Amortization Amount, and that the related Monthly Payment is recast as provided for in the Mortgage Note such that the balance fully amortizes within the remaining term of such Mortgage Loan.

  • Collections Prior to Amortization Prior to the Amortization Date, any Collections and/or Deemed Collections received by the Servicer shall be set aside and held in trust by the Servicer for the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If on any Business Day prior to the Amortization Date, any Collections are received by the Servicer after payment of any Obligations that are then due and owing, Seller hereby requests and the Purchasers hereby agree to make, simultaneously with such receipt, a reinvestment (each, a “Reinvestment”) with that portion of the balance of each and every Collection received by the Servicer that is part of any Purchaser Interest, such that after giving effect to such Reinvestment, the amount of Capital of such Purchaser Interest immediately after such receipt and corresponding Reinvestment shall be equal to the amount of Capital immediately prior to such receipt. On each Settlement Date prior to the occurrence of the Amortization Date, the Servicer shall remit to the Fifth Third Account and the PNC Account each Purchaser’s respective Percentage of the amounts set aside during the preceding Settlement Period that have not been subject to a Reinvestment and apply such amounts (if not previously paid in accordance with Section 2.1) to reduce the Obligations. Once such Obligations shall be reduced to zero, any additional Collections received by the Servicer (i) if applicable, shall be remitted to the Fifth Third Account and the PNC Account no later than 12:00 noon (New York time) to the extent required to fund the Purchasers’ respective Percentages of any Aggregate Reduction on such Settlement Date and (ii) any balance remaining thereafter shall be remitted from the Servicer to Seller on such Settlement Date.

  • Amortization Events or Potential Amortization Events The occurrence of each Amortization Event and each Potential Amortization Event, by a statement of an Authorized Officer of such Seller Party.

  • Expected Amortization Schedule for Principal Unless an Event of Default shall have occurred and be continuing on each Payment Date, the Indenture Trustee shall distribute to the Holders of record as of the related Record Date amounts payable pursuant to Section 8.02(e) of the Indenture as principal, in the following order and priority: [(1) to the holders of the Tranche A-1 Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; (2) to the holders of the Tranche A-2 Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; (3) to the holders of the Tranche A-3 Recovery Bonds, until the Outstanding Amount of such Tranche of Recovery Bonds thereof has been reduced to zero; provided, however, that in no event shall a principal payment pursuant to this Section 3(c) on any Tranche on a Payment Date be greater than the amount necessary to reduce the Outstanding Amount of such Tranche of Recovery Bonds to the amount specified in the Expected Amortization Schedule set forth on Schedule A hereto for such Tranche and Payment Date.

  • Additional Amortization Events If any one of the following events shall occur:

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