Mandatory Principal Payment Amount definition

Mandatory Principal Payment Amount means the portion of the Securities’ principal required to be paid as of each AHYDO Payment Date to prevent the Securities from being treated as an AHYDO within the meaning of Section 163(i)(1) of the Code. 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. 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. 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. ARTICLE FOUR

Mandatory Principal Payment Amount means the portion of this Security’s principal required to be paid as of each AHYDO Payment Date to prevent this Security from being treated as an AHYDO within the meaning of Section 163(i)(1) of the Code. No partial payments, redemptions or repurchases of this Security prior to an AHYDO Payment Date pursuant to any other provision of the Indenture or this Security will alter the Company’s obligation to make the Mandatory Principal Payment with respect to the amount of this Security that remain outstanding on an AHYDO Payment Date. Solely for U.S. federal income tax purposes, any Mandatory Principal Payment shall be treated as a payment of accrued OID that constitutes interest for purposes of Section 163(i)(2) of the Code. 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.”

Mandatory Principal Payment Amount for any Loan on any AHYDO Determination Date means the amount for a portion of a Loan required to be paid on such AHYDO Determination Date to prevent such Loan from being treated as an “applicable high yield discount obligation” within the meaning of Section 163(i)(1) of the Tax Code. No partial payment of the Loans prior to an AHYDO Determination Date pursuant to any other provision of this Agreement will alter the Borrower’s obligation to make the Mandatory Principal Payment with respect to Loans that remain outstanding on an AHYDO Determination Date. Any prepayment under this Section 2.14 shall first reduce principal attributable to any Permitted Accrued Interest on the applicable Loan before reducing any Exchangeable Portion of such Loan.

Examples of Mandatory Principal Payment Amount in a sentence

• If this Security would otherwise constitute “applicable high yield discount obligations” (“AHYDOs”) within the meaning of Section 163(i)(1) of the Code, at the end of all accrual periods ending after December 19, 2024 (each, an “AHYDO Payment Date”), but not including the final accrual period, the Company will make pro-rata cash payments to all Holders of this Security then outstanding in an amount equal to the Mandatory Principal Payment Amount (each such payment, a “Mandatory Principal Payment”).

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• Following payment of all items and fees as required by Section 2.1(e)(ii)(1) – (5), inclusive (other than the Mandatory Principal Payment Amount), on each Payment Date, an amount equal to twenty percent (20%) of all amounts collected into the Lock Box Account shall be paid to Lender to reduce the then outstanding principal balance of all Revolving Loans hereunder (the “Mandatory Principal Repayment Amount”).

More Definitions of Mandatory Principal Payment Amount

Mandatory Principal Payment Amount 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.

Mandatory Principal Payment Amount means the portion of a Note’s principal required to be paid to prevent such Note from being treated as an AHYDO within the meaning of Section 163(i)(1) of the Code. No partial payments, redemptions or repurchases of the Notes prior to an AHYDO redemption date pursuant to any other provision of this Indenture or the Notes will alter the Company’s obligation to make the Mandatory Principal Payment with respect to the Notes that remain outstanding on an AHYDO payment date. The Trustee shall have no duty or obligation with respect to any determination or calculation pursuant to this Section 4.13.

Mandatory Principal Payment Amount means with respect to the Mandatory Payment Date occurring on (a) September 1, 2009, an installment of principal equal to $500,000 and (b) October 1, 2009, an installment of principal equal to $500,000.