Minimum Monthly Amortization Amount definition

Minimum Monthly Amortization Amount means with respect to the Tranche B Advance and any Payment Date, the amount corresponding to such Payment Date set forth under the heading “Minimum Amortization Schedule” on Schedule 2 attached hereto. If a Trigger Event has occurred and is continuing, the Minimum Monthly Amortization Amount with respect to the Tranche B Advance shall be 140% of the amount corresponding to such Payment Date set forth under the heading “Minimum Amortization Schedule” on Schedule 2 attached hereto.
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Minimum Monthly Amortization Amount as used in the Loan Agreement shall be and hereby is amended and restated to have the following meaning:
Sample 1
Minimum Monthly Amortization Amount means (a) $1,000,000.00 for each of the first twelve (12) monthly Payment Dates (ending on, and including, the Payment Date which is the first Business Day of January, 2002), (b) $800,000.00 for each of the second twelve (12) monthly Payment Dates (ending on, and including, the Payment Date which is the first Business Day of January, 2003)(the Payment Dates referred to in this clause (b) are herein sometimes referred to as the "2002 Payment Dates"), and (c) $2,333,000.00 for the Payment Date which is the first Business Day of February, 2003 and each monthly Payment Date thereafter; provided, that if no Event of Default exists and Borrower demonstrates to Lender's satisfaction (Lender's determinations in this respect being made in Lender's sole and absolute discretion) that Borrower has incurred net reductions in actual cash flow in calendar year 2002 (not otherwise offset by virtue of higher revenues or lower expenses in respect of other aspects of Borrower's direct or indirect operations and capital programs in relation to Borrower's 2002 budget and business plan previously submitted to Lender) due to tenant bankruptcies occurring in calendar year 2002 which were unplanned and not foreseen by Borrower or Lender to occur in calendar year 2002, including losses due to rent defaults on the part of bankrupt tenants occurring prior to such tenants' bankruptcy filings, so long as such bankruptcy filings actually occur ("Proven Unplanned Tenant Bankruptcy Losses"), Lender may elect by written notice to Borrower, if Borrower requests and Lender determines in Lender's sole and absolute discretion that an adjustment to the amount of the Loan amortization is necessary and appropriate under the circumstances (including a determination that no other cash reserves are available to Borrower to address the Proven Unplanned Bankruptcy Losses) and will result in increased Borrower cash flow sufficient to pay all Borrower's operating costs and expenses for the foreseeable future notwithstanding the occurrence of Proven Unplanned Tenant Bankruptcy Losses, to reduce the amount of the Minimum Monthly Amortization Amount payable on one or more of the 2002 Payment Dates occurring after such written notice is given by Lender, in each case in an amount determined by Lender, but in no event will the Minimum Monthly Amortization Amount be reduced below $500,000. In addition, the term "Applicable Current Pay Rate" as used in the Loan Agreement shall have the following meaning:
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Examples of Minimum Monthly Amortization Amount in a sentence

  • At the end of each calendar month following the Redemption Start Date, if the aggregate Redemption Amount paid in such month is less than the Minimum Monthly Amortization Amount, then by the fifth (5th) day of the following month, Borrower must pay in cash to Lender the difference between the Minimum Monthly Amortization Amount and the aggregate Redemption Amount paid for the applicable month.


More Definitions of Minimum Monthly Amortization Amount

Minimum Monthly Amortization Amount means $200,000.00.
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Minimum Monthly Amortization Amount means $90,000.00.
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Minimum Monthly Amortization Amount means $1,000,000.00 for each of the first twelve (12) monthly Payment Dates, $1,667,000.00 for each of the next twelve (12) monthly Payment Dates, and $2,333,000.00 for each monthly Payment Date thereafter.
Sample 1

Related to Minimum Monthly Amortization Amount

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2023-A Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Installment Amount means the sum of (A) (i) with respect to any Installment Date other than the Maturity Date, the lesser of (x) the quotient of (I) the Principal amount outstanding under this Note as of the initial Installment Date, divided by (II) the number of Installment Dates occurring hereunder (as determined as of the initial Installment Date assuming no Deferrals, Accelerations, redemptions or conversions hereunder prior to the Maturity Date) and (y) the Principal amount then outstanding under this Note as of such Installment Date, and (ii) with respect to the Installment Date that is the Maturity Date, the Principal amount then outstanding under this Note as of such Installment Date (in each case, as any such Installment Amount may be reduced pursuant to the terms of this Note, whether upon conversion, redemption or Deferral), (B) any Deferral Amount deferred pursuant to Section 8(d) and included in such Installment Amount in accordance therewith, (C) any Acceleration Amount accelerated pursuant to Section 8(e) and included in such Installment Amount in accordance therewith and (D) in each case of clauses (A) through (C) above, the sum of any accrued and unpaid Interest and Make-Whole Amount with respect thereto as of such Installment Date under this Note, if any, and accrued and unpaid Late Charges, if any, under this Note as of such Installment Date. In the event the Holder shall sell or otherwise transfer any portion of this Note, the transferee shall be allocated a pro rata portion of the each unpaid Installment Amount hereunder.

  • Scheduled Principal Distribution Amount With respect to each Distribution Date, an amount equal to the aggregate of the principal portions of:

  • Calculation Amount means the amount specified as such on the face of any Note, or if no such amount is so specified, the Denomination Amount of such Note as shown on the face thereof;

  • Scheduled Principal Payment Amount means, for the Notes of any Series or Class, as applicable, on any Payment Date, the excess, if any, of (x) the then Outstanding Principal Balance of such Series or Class of Notes, as applicable, over (y) the Scheduled Targeted Principal Balance of such Series or Class, as applicable, for such Payment Date.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Unscheduled Principal Distribution Amount With respect to any Distribution Date, an amount equal to the aggregate of: (a) all Principal Prepayments received on the Mortgage Loans during the related Collection Period (or, in the case of the Outside Serviced Mortgage Loans, all Principal Prepayments received during the period that renders them includable in the Aggregate Available Funds for such Distribution Date); and (b) any other collections (exclusive of payments by Mortgagors) received on the Mortgage Loans and, to the extent of the Trust’s interest therein, any REO Properties during the related Collection Period (or, in the case of an Outside Serviced Mortgage Loan or any interest in REO Property acquired with respect thereto, all such proceeds received during the period that renders them includable in the Aggregate Available Funds for such Distribution Date), whether in the form of Liquidation Proceeds, Insurance Proceeds, Condemnation proceeds, net income, rents, and REO Proceeds or otherwise, that were identified and applied by the Master Servicer (and/or, in the case of an Outside Serviced Mortgage Loan, the related Outside Servicer) as recoveries of previously unadvanced principal of the related Mortgage Loan.

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.

  • Early Amortization Event means the occurrence of any of the following:

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Accumulation Period Amount means $41,666,666.67; provided, however, if the Accumulation Period Length is determined to be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture Supplement.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Maturity Payment Amount shall have the meaning set forth in Section 2 of this Annex A.

  • Repayment Amount means the amount to be paid by the Recipient to the OPWC on each payment date of each year during the Term pursuant to the terms and conditions of the Note.

  • Auction Amount has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Interest Remittance Amount For any Distribution Date and Loan Group, an amount equal to the sum of (1) all interest collected (other than related Payaheads, if applicable) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Loan Group during the related Collection Period, the interest portion of Payaheads previously received and intended for application in the related Collection Period and the interest portion of all Payoffs and Curtailments received on the Mortgage Loans in such Loan Group during the related Prepayment Period (other than interest on Principal Prepayments that occur during the portion of the Prepayment Period that is in the same calendar month as the related Distribution Date), less (x) the Servicing Fees (other than any Excess Servicing Fee) and any lender paid Primary Insurance Policy premiums with respect to such Mortgage Loans and (y) unreimbursed Advances and other amounts due to a Servicer, the Back-Up Servicer or the Trustee with respect to such Mortgage Loans, to the extent allocable to interest, (2) all Compensating Interest Payments paid by a Servicer with respect to the related Mortgage Loans with respect to such Distribution Date, (3) the portion of any Substitution Adjustment Amount and Repurchase Price paid with respect to such Mortgage Loans during the calendar month immediately preceding the Distribution Date, in each case allocable to interest and the proceeds of any purchase of the Mortgage Loans by the Terminating Entity pursuant to Section 9.01 in an amount not exceeding the interest portion of the Par Value, (4) all Net Liquidation Proceeds, and any Insurance Proceeds and other recoveries (net of unreimbursed Advances, Servicing Advances and expenses, to the extent allocable to interest, and unpaid Servicing Fees) collected with respect to such Mortgage Loans during the prior calendar month, to the extent allocable to interest, (5) any amounts withdrawn from the Capitalized Interest Amount to pay interest on the related Certificates with respect to such Distribution Date and (6) the aggregate Excess Servicing Fee to be distributed to the Class A-IO-S Certificates.

  • Interest Distribution Amount With respect to any Distribution Date and any Class A Certificates, any Mezzanine Certificates and any Class CE Certificates, the aggregate Accrued Certificate Interest on the Certificates of such Class for such Distribution Date.

  • Amortization Date means the earliest to occur of (i) the Commitment Termination Date, (ii) the declaration or automatic occurrence of the Amortization Date pursuant to Section 7.03 and (iii) that Business Day which the Borrower designates as the Amortization Date by notice to the Administrative Agent at least five (5) Business Days prior to such Business Day.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Principal Remittance Amount for such Distribution Date over (ii) the Excess Subordinated Amount, if any, for such Distribution Date.