Examples of Loan Outstanding Principal Balance in a sentence
Interest on each of the Reduced Acquisition Loan Outstanding Principal Balance and the Construction Loan Outstanding Principal Balance shall accrue from the Closing Date to but excluding the Maturity Date at the Applicable Interest Rate.
Borrowers shall use the entire proceeds of the Loan solely to make equity contributions to Mortgage Borrowers, who shall use the entire amount of such equity contributions to repay a portion of the Mortgage Loan in order to reduce the Mortgage Loan Outstanding Principal Balance to $______________.00.
As a result of the partial prepayment of the Construction Loan made in connection with the sale of certain property by Adjacent Borrower and accounting for advances of the Construction Loan to date, the Construction Loan Outstanding Principal Balance is $467,443,347.38.
Following the expiration of the Closing Date -101- Interest Protection Agreement, at all times during the term of the Loan (including during any extension period), Borrower shall maintain in effect an Interest Rate Protection Agreement with a notional amount equal to at least the sum of (x) the Outstanding Principal Balance plus (y) the Building Loan Outstanding Principal Balance and with a Counterparty reasonably acceptable to Administrative Agent having a Minimum Counterparty Rating.
Such Seller will sell and assign the Letter of Credit reimbursement obligation from the Underlying Obligor on the Purchase Date (and upon a draw under the Letter of Credit to or on behalf of the Underlying Obligor, the Purchased Loan Outstanding Principal Balance will be increased by the amount of such reimbursement obligation from the Underlying Obligor).
Interest on each of the Reduced Acquisition Loan Outstanding Principal Balance and the Construction Loan Outstanding Principal Balance shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the Reduced Acquisition Loan Outstanding Principal Balance or the Construction Loan Outstanding Principal Balance, as applicable.