Unscheduled Mandatory Payments Sample Clauses

Unscheduled Mandatory Payments. Borrower shall make principal payments on the Advances (the “Unscheduled Mandatory Payments”) whenever a reduction in the Collateral Pool LTV Amount or in the Maximum Collateral Pool Supported Amount causes the Allocated Facility Amount to be greater than the maximum amounts permitted under clauses (iv) or (v) of Section 2.1 above. Such principal payments shall be in the amount needed to reduce the Allocated Facility Amount to an amount equal to or less than such maximum amounts. Such mandatory principal payments shall be due and payable (i) in the case of any such reduction arising from results reported in a quarterly financial statement of Borrower and related compliance certificate, fifteen (15) Business Days after delivery of such quarterly financial statement and compliance certificate under Section 6.1 evidencing such reduction or (ii) in all other cases, fifteen (15) Business Days after Borrower’s receipt of notice from the Administrative Agent of any reduction in the amount contributed to the Adjusted Collateral Pool NOI or Collateral Pool LTV Amount on account of such Collateral Pool Property, whether by a reduction in the value reflected in the most recent Appraisal thereof or in the Adjusted Collateral Pool NOI attributable thereto.
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Unscheduled Mandatory Payments. Borrower shall make principal payments on the Advances (the “Unscheduled Mandatory Payments”) whenever a reduction in the Unencumbered Pool LTV Amount or in the Maximum Unencumbered Pool Supported Amount causes the Allocated Facility Amount to be greater than the maximum amounts permitted under clauses (iv) or (v) of Section 2.1 above. Such principal payments 13171960\V-5 shall be in the amount needed to reduce the Allocated Facility Amount to an amount equal to or less than such maximum amounts. Such mandatory principal payments shall be due and payable (i) in the case of any such reduction arising from results reported in a quarterly financial statement of Borrower and related compliance certificate, fifteen (15) Business Days after delivery of such quarterly financial statement and compliance certificate under Section 6.1 evidencing such reduction or (ii) in all other cases, fifteen (15) Business Days after Borrower’s receipt of notice from the Administrative Agent of any reduction in the amount contributed to the Adjusted Unencumbered Pool NOI or Unencumbered Pool LTV Amount on account of such Unencumbered Pool Property, whether by a reduction in the value reflected in the most recent Appraisal thereof or in the Adjusted Unencumbered Pool NOI attributable thereto.
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Unscheduled Mandatory Payments. Borrower shall make principal payments on the Advances in the following amounts in connection with the following events at the following times (the “Unscheduled Mandatory Payments”):
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Unscheduled Mandatory Payments. Borrower shall make principal payments on the Advances (the “Unscheduled Mandatory Payments”) whenever a reduction in the Collateral Pool Debt Service Coverage Ratio or the Collateral Pool LTV Amount causes the Outstanding Loan Amount to be greater than the Maximum Collateral Pool Supported Amount. Such principal payments shall be in the amount needed to reduce the Outstanding Loan Amount to an amount equal to or less than the Maximum Collateral Pool Supported Amount. Such mandatory principal payments shall be due and payable (i) in the case of any such reduction arising from results reported in a quarterly financial statement of Borrower and related compliance certificate, fifteen (15) Business Days after delivery of such quarterly financial statement and compliance certificate under Section 6.1 evidencing such reduction or (ii) in all other cases, fifteen (15) Business Days after Borrower’s receipt of notice from the Administrative Agent of any reduction in the amount contributed to the Collateral Pool Debt Service Coverage Ratio or Collateral Pool LTV Amount on account of such Collateral Pool Property. Notwithstanding anything contained in this Agreement to the contrary, in lieu of making any Unscheduled Mandatory Payments, Borrower can make deposits into the Cash Collateral Account in such amounts as are necessary to ensure that the Outstanding Loan Amount is not greater than the Maximum Collateral Pool Supported Amount. Any such deposits into the Cash Collateral Account made in lieu of any Unscheduled Mandatory Payments must be made within the time periods set forth in clauses (i) and (ii) hereinabove.
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Unscheduled Mandatory Payments 
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Related to Unscheduled Mandatory Payments

  • Mandatory Payments The Loans shall be subject to mandatory repayment or prepayment (in the case of any partial prepayment conforming to the requirements as to the amounts of partial prepayments set forth in Section 2.13(a) above), and the LC Outstandings shall be subject to cash collateralization requirements, in accordance with the following provisions:

  • Optional and Mandatory Prepayments (a) The Borrowers may, upon irrevocable notice from the Lead Borrower to the Agent, at any time or from time to time voluntarily prepay the outstanding amount of the Term Loan, in whole or in part, together with the Applicable Premium in respect of the principal amount so prepaid; provided that (i) such notice must be received by the Agent not later than 11:00 a.m. (A) three Business Days prior to any date of prepayment of the Term Loan, and (ii) any prepayment shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof, or, if less, the entire principal amount of the Term Loan then outstanding. Each such notice shall specify the date and amount of such prepayment. The Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Lead Borrower, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the outstanding amount of the Term Loan of the Lenders in accordance with their respective Applicable Percentages.

  • Mandatory Payment (a) If, at any time, the Revolving Credit Exposure shall exceed the Total Commitment Amount as then in effect, Borrowers shall, as promptly as practicable, but in no event later than the next Business Day, prepay an aggregate principal amount of the Loans sufficient to bring the Revolving Credit Exposure within the Total Commitment Amount.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

  • Mandatory Payments and Prepayments (a) Except to the extent due or paid sooner pursuant to the provisions of this Agreement, the aggregate outstanding principal of the Loans shall be due and payable in full on the Maturity Date.

  • Scheduled Payments As of the Cutoff Date, each Receivable had a first scheduled due date on or prior to the end of the third month immediately following the Cutoff Date.

  • Voluntary and Mandatory Prepayments Scheduled installments of principal of the Series [ ] New Term Loans set forth above shall be reduced in connection with any voluntary or mandatory prepayments of the Series [ ] New Term Loans in accordance with Sections 5.1 and 5.2 of the Credit Agreement respectively.

  • Advance Payments Payments made by the Borrower to satisfy future installments must be accounted for as prepaid installments of principal and interest. The Servicer should contact the Borrower if there is a question about the Borrower's intention in making any unscheduled payment.

  • Optional and Mandatory Prepayments of Loans SECTION 2.11 Alternate Rate of Interest

  • Prepayment Fees Borrower agrees to pay to each [New Term Loan Lender] the following prepayment fees, if any: [ ]. [Insert other additional prepayment provisions with respect to New Term Loans]

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