Loan Payment Amount definition

Loan Payment Amount is the monthly payment amount calculated using these payment terms, with a minimum monthly payment of $25 per month for a combined MSFAA-Canada and MSFAA-Ontario Loan Payment Amount;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Loan Payment Amount is the monthly payment amount calculated using these payment terms (minimum monthly loan payment amount of $25);

Loan Payment Amount has the meaning ascribed to it in the Sale and Contribution Agreement.

Examples of Loan Payment Amount in a sentence

• For purposes of clarification, if any Lender elects to convert to Borrower Common Shares pursuant to Section 2.13 hereunder, the Borrower shall not have the option of paying the Loan Payment Amount or delivering Parent Exchange Shares.

• The Capex Term Loan shall be payable in eighty-three (83) consecutive monthly installments in an amount equal to the Capex Term Loan Payment Amount, commencing on the Capex Term Loan First Payment Date and continuing on each Regularly Scheduled Payment Date thereafter, with the balance thereof payable in full on the date that is eighty-four (84) months after the Capex Term Loan First Payment Date.

• For purposes of clarification, if any Lender elects to convert to Borrower Common Shares pursuant to Article X hereof, the Borrower shall not have the option of paying the Loan Payment Amount in cash to such Lender.

• Borrower shall provide five (5) Business Days prior written notice to the Agent of its election pursuant to this Section 2.12 either to pay the Loan Payment Amount or to provide the Parent Exchange Shares and Agent shall have three (3) Business Days from the date it receives such notice from Borrower to elect to convert into Borrower Common Shares pursuant to Section 2.13.

• If the Borrower fails to pay the Loan Payment Amount and/or deliver the Borrower Common Shares, as the case may be, to each Lender on the Optional Prepayment Date, then (in addition to all other remedies), at the option of the Agent, interest shall accrue on the Loan Payment Amount and the Loans, respectively, at the Default Rate from the Optional Prepayment Date, and all amounts due shall thereafter be payable on demand.

• If the Borrower fails to pay the Loan Payment Amount or deliver the Parent Exchange Shares or Borrower Common Shares, as the case may be, to each Lender on the Optional Prepayment Date, then (in addition to all other remedies) interest shall accrue on the Loan Payment Amount and the Loans, respectively, at the Default Rate, and all amounts due shall thereafter be payable on demand.

• Immediately prior to the Closing, there will be no outstanding Indebtedness (including any pre-payment fees, exit fees, rescheduling fees, or penalties) of the Company arising from obligations created by or on behalf of the Company or any Seller prior to the Closing other than the Closing Term Loan Payment Amount and the Closing Date Revolving Loan Amount.

• The Borrower shall provide five (5) Business Days prior written notice (if possible) to the Agent of its intent pursuant to this Section 8.2(a) to pay the Loan Payment Amount, and the Agent shall have three (3) Business Days from the date it receives such notice from the Borrower to elect to convert into Borrower Common Shares pursuant to Article X hereof.

• Borrower shall provide five (5) Business Days prior written notice to the Agent of its election pursuant to this Section 2.11 either to pay the Loan Payment Amount or to provide the Parent Exchange Shares and Agent shall have three (3) Business Days from the date it receives such notice from Borrower to elect to convert into Borrower Common Shares pursuant to Section 2.13.

• Concurrently with any payment or prepayment of the Loans pursuant to Sections 2.10, 2.11, 2.12(a) or 8.2(a), Borrower shall deliver to Agent a certificate of an Authorized Officer demonstrating the calculation, with respect to each Lender, of the Loan Payment Amount, the Parent Exchange Shares or the number of Borrower Common Shares to be delivered, as the case may be.

More Definitions of Loan Payment Amount

Loan Payment Amount is the monthly loan payment amount calculated using these repayment terms, with a minimum monthly loan payment of $25 per month for combined MSFAA-Canada and MSFAA-MB loan payments. Your Loan Payment Amount will be periodically reviewed to ensure the Loan Payment Amount is sufficient to repay the Outstanding Loan Balance for both your Canada Student Loan and your MB Student Loan by the last day of the Amortization Period, and you will be notified of any changes;

Loan Payment Amount means, with respect to each Lender, as of any date of determination, the sum of (i) all accrued and unpaid interest due under such Lender's Loans on such date of determination, plus (ii) the outstanding principal amount of such Lender's Loans on such date of determination plus (iii) an amount equal to the Loan Payment Percentage multiplied by the aggregate principal amounts of all Loans advanced by such Lender (whether or not they have been repaid) plus (iv) $3,000,000 less any amount of accrued Accreting Interest paid simultaneously therewith plus (v) an amount equal to the Loan Payment Percentage multiplied by $3,000,000.

Loan Payment Amount is the monthly loan payment amount calculated using these repayment terms, with a minimum monthly loan payment of $25 per month for combined Canada Student Loan and MB Student Loan payments. Your Loan Payment Amount will be periodically reviewed to ensure the Loan Payment Amount is sufficient to repay the Outstanding Loan Balance for both your Canada Student Loan and your MB Student Loan by the last day of the Amortization Period, and you will be notified of any changes;

Loan Payment Amount means, with respect to each Lender, as of any date of determination, the sum of (i) all accrued and unpaid interest due under such Lender’s Loans on such date of determination, plus (ii) the outstanding principal amount of such Lender’s Loans on such date of determination.

Loan Payment Amount means the principal (as payable at stated maturity or otherwise), interest and any redemption premium required to be paid by the County with respect to the Note.