Mandatory Principal Payment definition

Mandatory Principal Payment shall have the meaning set forth in Section 2.3.8.
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Mandatory Principal Payment means the annual installment of principal established for Term Certificates by a Series Resolution (or certificate of KISTA accepting the successful bid for the sale of Series Certificates) which shall be paid on March 1 of each year for the retirement of Outstanding Certificates which mature after said March 1 date.
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Mandatory Principal Payment. With respect to each Payment Date, an amount equal to the result of (a) 120% of the Outstanding Principal Balance as of the last Business Day of the most recently completed calendar month preceding such Payment Date, minus (b) the sum of the aggregate principal amount of Eligible Mortgage Loans plus amounts on deposit in the Collection Account and other deposit accounts of the Issuer subject to Account Control Agreements, in each case as of such last Business Day; provided that if such result is less than zero, the Mandatory Principal Payment for such Payment Date shall be zero.
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Examples of Mandatory Principal Payment in a sentence

  • With respect to any such condemnation, the Borrower shall make the Mandatory Principal Payment, if any is required, set forth herein.

  • With respect to any such damage or destruction, the Borrower shall make the Mandatory Principal Payment, if any is required, set forth herein.

  • No partial payments, redemptions or repurchases of the Securities prior to an AHYDO Payment Date pursuant to any other provision of this Indenture or the Securities will alter the Company’s obligation to make the Mandatory Principal Payment with respect to the Securities that remain outstanding on an AHYDO Payment Date.

  • Any Mandatory Principal Payment paid with respect to Global Securities will be processed as a “partial redemption” through the Depositary, in accordance with its rules and procedures as a “Pro Rata Pass-Through Distribution of Principal.” Any Mandatory Principal Payment shall otherwise be made pursuant to the provisions of Sections 3.02 through 3.07.

  • To the extent that any Mandatory Principal Payment shall exceed the portion of the Loan subject to the Base Rate Option, the Borrower shall also pay to the Lender any amounts due under Section 3.13 hereof.

  • Solely for U.S. federal income tax purposes, any Mandatory Principal Payment shall be treated as a payment of accrued original issue discount that constitutes interest for purposes of Section 163(i)(2) of the Code.

  • Except as specifically provided in Section 2.3.9(ii), any Mandatory Principal Payment and any other partial prepayment of principal shall first be applied to the principal due in the reverse order of maturity, and no such partial prepayment shall relieve Borrower of the obligation to pay each installment of principal when due.

  • No partial redemption or repurchase of the Notes prior to the AHYDO payment date pursuant to any other provision of the Indenture will alter the Issuer’s obligation to make the Mandatory Principal Payment with respect to any Notes that remain outstanding on the AHYDO payment date.

  • All Bonds of all Classes within one Series at any time Outstanding (other than Compound Interest Bonds in such Series) shall be identical except for differences among the Bonds of the different Classes within such Series in Bond Interest Rates, priorities as to repayment of principal, First Mandatory Principal Payment Dates and Stated Maturities.

  • The Accounts shall each be in the name of the Shelbourne OP or an Other Party as provided above; provided, however, the Account Parties acknowledge and agree that the Depository Accounts, the T/I CAPEX Fund Account, the Mandatory Principal Payment Account, and the Cash Sweep Cash Collateral Account are subject to the sole dominion, control and discretion of Agent, its authorized agents or designees, subject to the terms hereof and the other Loan Documents.


More Definitions of Mandatory Principal Payment

Mandatory Principal Payment means the amount required to be paid to prevent such Note from being treated as an “applicable high yield discount obligation” within the meaning of Section 163(i)(1) of the Code. No partial redemption or repurchase of the Notes prior to the AHYDO payment date pursuant to any other provision of the Indenture will alter the Issuer’s obligation to make the Mandatory Principal Payment with respect to any Notes that remain outstanding on the AHYDO payment date. Upon the issuance of Subsequent Exchange Consideration in exchange for (or the proceeds of which are used to redeem, repay or refinance, as the case may be) Existing Senior Unsecured Notes outstanding after the Issue Date with any of the following features (a “Superior Subsequent Exchange”), the Issuers shall offer to issue Subsequent Exchange Consideration in exchange for any and all of the outstanding Notes on the same terms as such Superior Subsequent Exchange (a “Mandatory Exchange Offer”) if:
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Mandatory Principal Payment is hereby added to Section 1.1 of the Original Agreement immediately following the definition of "Majority Banks":
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Mandatory Principal Payment. The aggregate mandatory principal payments that will be due on the Private Placement Date pursuant to the 1995 Private Placement Agreement and the Private Placement Agreement."
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Related to Mandatory Principal Payment

  • Third Priority Principal Distributable Amount With respect to any Distribution Date, an amount, not less than zero, equal to the difference between (i) the excess, if any, of (a) the aggregate outstanding principal balance of the Class A Notes, the Class B Notes and the Class C Notes as of the preceding Distribution Date (after giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such preceding Distribution Date) over (b) the Aggregate Receivables Principal Balance as of the close of business on the last day of the immediately preceding Monthly Period, and (ii) the sum of (a) the First Priority Principal Distributable Amount, if any, with respect to such Distribution Date and (b) the Second Priority Principal Distributable Amount, if any, with respect to such Distribution Date.

  • Second Priority Principal Distributable Amount With respect to any Distribution Date, an amount, not less than zero, equal to the difference between (i) the excess, if any, of (a) the aggregate outstanding principal balance of the Class A Notes and the Class B Notes as of the preceding Distribution Date (after giving effect to any principal payments made on the Class A Notes and the Class B Notes on such preceding Distribution Date) over (b) the Aggregate Receivables Principal Balance as of the close of business on the last day of the immediately preceding Monthly Period, and (ii) the First Priority Principal Distributable Amount, if any, with respect to such Distribution Date.

  • Aggregate Noteholders’ Priority Principal Distributable Amount With respect to any Distribution Date, the sum of (i) the First Priority Principal Distributable Amount, (ii) the Second Priority Principal Distributable Amount, (iii) the Third Priority Principal Distributable Amount and (iv) the Fourth Priority Principal Distributable Amount, each as of such Distribution Date. Aggregate Principal Balance of Non-Subvented Receivables: As of any date, the present value as of such date of all scheduled monthly payments on all of the Non-Subvented Receivables (other than Liquidating Receivables) held by the Issuing Entity on such date which have not been applied on or prior to such date (determined after taking into account any Warranty Payments and Administrative Purchase Payments in respect of such Receivables), with each Receivable being discounted from the last day of the calendar month in which payments are to become due to such date at the greater of the Discount Rate and the Annual Percentage Rate.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Note Monthly Principal Distributable Amount means, with respect to any Payment Date, the Note Percentage of the Principal Distributable Amount for such Payment Date.

  • Expected Principal Payment Date means March 15, 2022.

  • First Priority Principal Distributable Amount With respect to any Distribution Date, an amount equal to the excess, if any, of (i) the aggregate outstanding principal balance of the Class A Notes as of the preceding Distribution Date (after giving effect to any principal payments made on the Class A Notes on such preceding Distribution Date) over (ii) the Aggregate Receivables Principal Balance as of the close of business on the last day of the immediately preceding Monthly Period.

  • Second Priority Principal Payment means, for a Payment Date, the greater of:

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • First Priority Principal Payment means, for a Payment Date, the greater of:

  • Principal Payments For any Purchased Asset, all payments and prepayments of principal received for such Purchased Asset, including insurance and condemnation proceeds which are permitted by the terms of the Purchased Asset Documents to be applied to principal and are, in fact, so applied and recoveries of principal from liquidation or foreclosure which are permitted by the terms of the Purchased Asset Documents to be applied to principal and are, in fact, so applied.