Closing Date Prepayment definition

Closing Date Prepayment means the prepayment on or prior to the Closing Date of a portion of the Existing Subordinated Notes in an aggregate principal amount of $3,000,000, plus a further reduction on the Closing Date in the aggregate principal amount of the Existing Subordinated Notes resulting from the set-off against the aggregate principal amount thereof on the Closing Date of a $920,000 receivable owed by one or more of the holders of the Existing Subordinated Notes.
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Closing Date Prepayment has the meaning specified in Section 2.05(b)(viii).
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Closing Date Prepayment has the meaning specified in the last paragraph of Section 2.05(c).
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Examples of Closing Date Prepayment in a sentence

  • After receipt of the Closing Date Prepayment Amount, the Administrative Agent and the Lenders agree to release and discharge from any liability associated with the Indebtedness under this Agreement each of the Closing Date Released Parties and the Administrative Agent is irrevocably authorized to execute such releases and terminations of Liens and financings statements as shall be appropriate in light of the release and discharge of the Closing Date Released Parties.

  • On the Closing Date, the Initial Co-Borrower and Borrower shall make a prepayment of the Indebtedness outstanding hereunder in an amount equal to the Closing Date Prepayment Amount.

  • On the date hereof and after giving effect to the Closing Date Prepayment, the Existing Term Loans and $5,000,000 of Existing Revolver Outstandings shall be converted to and shall be deemed to be, and hereby constitute, on the Closing Date, the “Term Loan” hereunder, which shall be outstanding in the aggregate principal amount of $15,232,000.

  • Upon the consummation of the Closing Date Prepayment in full on the Closing Date, without any further action by any party hereto, the Revolving Credit Commitment of each Revolving Credit Lender shall increase automatically by such Revolving Credit Lender’s Pro Rata Share of the amount of the Closing Date Prepayment.

  • Closing Date Prepayment and Related Waivers: · Borrower will prepay $15,000,000 of the principal of the Loan on the Closing Date in lieu of payment contemplated by Section 2.3(a)(v) of the Facility Agreement (the “Prepayment”).

  • It being understood that such fee shall be paid-in-kind on the Closing Date (after giving effect to the Closing Date Prepayment) by adding such amount to the principal amount of such Initial Term Loans and shall be treated as original issue discount.

  • After the Incremental Assumption Closing Date, as Extended FL Term Loans, the Converted Term Loans shall be entitled to share on a pro rata basis in all optional and mandatory prepayments as provided in Section 2(d) and (e) above other than with respect to the Incremental Assumption Closing Date Prepayment.

  • On the Closing Date, MidContinent or PESC shall make a prepayment of the Indebtedness outstanding (i) under the Prior First Lien Credit Agreement in an amount equal to the Closing Date Prepayment Amount relating thereto; and under the Prior Midstream Agreement in an amount equal to the Closing Date Prepayment Amount relating thereto.

  • Closing Date Prepayment and Related Waivers: ● Borrower will prepay $15,000,000 of the principal of the Loan on the Closing Date in lieu of payment contemplated by Section 2.3(a)(v) of the Facility Agreement (the “Prepayment”).

  • After giving effect to the Incremental Assumption Closing Date Prepayment, the Extended FL Term Loans shall have no scheduled amortization prior to the Incremental Term Facility Maturity Date.


More Definitions of Closing Date Prepayment

Closing Date Prepayment means a prepayment of principal by the Master Tenant Affiliates of the Subordinated Debt on the date hereof in the amount of in the amount of $5,000,000.
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Related to Closing Date Prepayment

  • Initial Prepayment shall have the meaning set forth in Section 7.2 of this Agreement.

  • Optional Prepayment Date has the meaning specified in Section 4.b hereof.

  • Optional Prepayment shall have the meaning set forth in Section 2.10.

  • ECF Prepayment Amount has the meaning assigned to such term in Section 2.11(b)(i).

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.

  • Proposed Prepayment Date is defined in Section 8.3(c).

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Partial Prepayment Amount means the amount required to prepay a portion of the Annual Special Tax obligation for an Assessor’s Parcel as described in Section H.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Mandatory Prepayment Date as defined in Section 2.12(e).

  • Optional Prepayment Price shall have the meaning set forth in Section 14.02(a).

  • Full Prepayment Any payment of the entire principal balance of a Mortgage Loan which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

  • Closing Date Term Loans as defined in Section 2.1.

  • Mandatory Prepayment Amount for any Debentures shall equal the sum of (i) the greater of: (A) 130% of the principal amount of Debentures to be prepaid, plus all accrued and unpaid interest thereon, or (B) the principal amount of Debentures to be prepaid, plus all other accrued and unpaid interest hereon, divided by the Conversion Price on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is less, multiplied by the VWAP on (x) the date the Mandatory Prepayment Amount is demanded or otherwise due or (y) the date the Mandatory Prepayment Amount is paid in full, whichever is greater, and (ii) all other amounts, costs, expenses and liquidated damages due in respect of such Debentures.

  • Principal Prepayment Any payment of principal or other recovery on a Mortgage Loan, including a recovery that takes the form of Liquidation Proceeds or Insurance Proceeds, which is received in advance of its scheduled Due Date and is not accompanied by an amount as to interest representing scheduled interest on such payment due on any date or dates in any month or months subsequent to the month of prepayment.

  • Required Prepayment Date as defined in Section 2.15(c).

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Acceptable Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Closing Date Term Loan has the meaning specified in Section 2.01(a).

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.

  • Required Prepayment Lenders the Majority Facility Lenders in respect of each Facility.

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.