Interim Principal Payment definition
Interim Principal Payment means a repayment of all or a portion of the principal amount of a Note outstanding hereunder on a day other than a Remittance Date.
Examples of Interim Principal Payment in a sentence
In addition, (a) one half of the maximum amount of principal and interest at any time outstanding under the Loans shall be due and payable the earlier of (1) December 31, 2003 and (2) three years after the last Loan is made (the "Interim Principal Payment"); and (b) all principal and accrued but unpaid interest shall be due and payable the earlier of (1) December 31, 2004 and (2) four years after the last Loan is made (the "Final Principal Payment").