Monthly Amortization Payment definition

Monthly Amortization Payment means a payment of principal of the Term Loans in an amount equal to (x) the then-outstanding principal amount (including any PIK Interest) divided by (y) the number of months left until the Maturity Date. The Monthly Amortization Payment shall be calculated by the Borrower, and provided to the Lender for review, initially prior to the first such payment and recalculated following any prepayment of the Term Loans and/or incurrence of any Delayed Draw Term Loans.

Monthly Amortization Payment means, with respect to each Monthly Amortization Payment Date, an amount equal to the applicable principal component of a notional monthly constant payment of principal and interest, computed as of the first Monthly Amortization Payment Date on the basis of (a) the then outstanding principal balance of the Loan, (b) a rate per annum equal to the Interest Rate hereunder as of the date of computation, and (c) a thirty (30) year amortization period, as determined by Lender in its sole and absolute discretion.

Monthly Amortization Payment has the meaning assigned to such term in Section 2.01 of this Agreement.

Examples of Monthly Amortization Payment in a sentence

• Each Monthly Amortization Payment shall be due on such date and the last day of each calendar month thereafter until the Maturity Date.

• In addition to monthly payments of interest as provided for herein, commencing as of May 1, 2023, Borrower shall make monthly principal payments on each Interest Payment Date equal to the Monthly Amortization Payment Amount.

• The Borrowers shall pay to the Agent (i) on each Payment Date commencing on December 29, 2017, the interest accrued on the Loan for the preceding Interest Period (the “Monthly Interest Payment”) and (ii) commencing on the thirteenth (13th) Payment Date (i.e., December 31, 2018 after giving effect to the Business Day convention contained in the definition of “Payment Date”) and on each Payment Date thereafter, in addition to the Monthly Interest Payment, the Monthly Amortization Payment.

• For purposes of this section, the Base Rent for the third Lease Year shall be deemed to be [ * ] plus the product of the Monthly Amortization Payment (as defined in Section 6(b)) multiplied by 12.

• If and for so long as Borrower’s amortization of the Maximum Loan Amount is at least 30 days ahead of the schedule (“Amortization Schedule”) required under Section 2.4.1 (Minimum Monthly Amortization) (i.e., in the event the amount of the next Minimum Monthly Amortization Payment is zero), then the amount required to be deposited in the Interest Reserve Account shall be a minimum of an amount equal to six (6) months’ interest due on the Maximum Loan Amount on the date of such determination.

More Definitions of Monthly Amortization Payment

Monthly Amortization Payment has the meaning set forth in Section 3.2.

Monthly Amortization Payment has the meaning ascribed thereto in the Notes.

Monthly Amortization Payment has the meaning set forth in Section 3.01(a). “Multiemployer Plan” means any multiemployer plan, as defined in Section 400l(a)(3) of ERISA, to which any ERISA Affiliate incurs or otherwise has any obligation or liability, contingent or otherwise.

Monthly Amortization Payment means a payment of principal of the Term Loans in an amount equal to (i) the then-outstanding principal amount of the Term Loans (including any PIK Interest) divided by (ii) the difference of (1) 36 minus (2) the number of months occurring after September 6, 2019 for which a Monthly Amortization Payment has been made. The Monthly Amortization Payment shall be calculated by the Borrower, and provided to the Lender for review and revision in its reasonable discretion, initially prior to the first such payment and recalculated following any prepayment of the Term Loans.

Monthly Amortization Payment. With respect to any Inventory Loan Tranche, the lesser of (x) an amount equal to (i) the outstanding principal balance of such Inventory Loan Tranche as of the first day of the calendar month immediately preceding the 25th Monthly Payment Date following the date on which the related Advance was made, divided by (ii) 60, and (y) the outstanding principal balance of such Inventory Loan Tranche.

Monthly Amortization Payment means, with respect the thirteenth (13th) Payment Date (i.e., December 31, 2018 after giving effect to the Business Day convention contained in the definition of “Payment Date”) and on each Payment Date thereafter, a principal payment of $266,000.00 (to be the original principal amount divided by 300; i.e., 25-year amortization).

Monthly Amortization Payment means each installment of principal of the Loan required to be paid pursuant to clause (b) of Section 2.4 hereof.