Principal and Interest definition
Principal and Interest. Payments of Interest will be payable to the person in whose name a Certificated Note is registered at the close of business on the Regular Record Date next preceding an Interest Payment Date; provided, however, that, in the case of a Certificated Note originally issued between a Regular Record Date and an Interest Payment Date, the first payment of interest will be made on the Interest Payment Date following the next succeeding Regular Record Date to the person in whose name such Note was registered at the close of business on such next Regular Record Date. Unless other arrangements are made acceptable to the Company, all interest payments (excluding interest payments made on the Maturity Date or the Redemption Date) on a Certificated Note will be made by check mailed to the person entitled thereto as provided above. BNY will pay the principal amount of each Certificated Note on the Maturity Date upon presentation of such Certificated Note to BNY. Such payment, together with payment of interest due on the Maturity Date, will be made from funds deposited with BNY by the Company. BNY will be responsible for withholding taxes on interest paid on Certificated Notes as required by applicable law. Within 10 days following each Regular Record Date, the Indenture Trustee will inform the Company of the total amount of the interest payments to be made by the Company on the next succeeding Interest Payment Date. The Indenture Trustee will provide monthly to the Company a list of the principal and interest to be paid on Certificated Notes maturing in the next succeeding month.
Principal and Interest means the aggregate principal amount of a Claim plus accrued and unpaid interest thereon to the Petition Date.
Principal and Interest payments shall be in money of the United States of America, lawful at such times for the satisfaction of public and private debts, and shall be in immediately available funds. Schwab promises to pay the costs of collection, including reasonable attorney's fees, if default is made in the payment of this Note. The terms and provisions of this Note shall be governed by the applicable laws of the State of California.
Examples of Principal and Interest in a sentence
This Certificate is limited in right of payment to certain collections and recoveries relating to the Home Equity Loans and amounts on deposit in the Certificate Account and the Principal and Interest Account (except as otherwise provided in the Pooling and Servicing Agreement), as more specifically set forth hereinabove and in the Pooling and Servicing Agreement.
The Holder and the Company shall maintain records showing the Principal and Interest converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Company, so as not to require physical surrender of this Note upon conversion.
In connection with such purchase, the Servicer shall remit to the Trustee all amounts then on deposit in the Principal and Interest Account for deposit to the Certificate Account, which deposit shall be deemed to have occurred immediately preceding such purchase.
Any references herein to amounts on deposit in the Principal and Interest Account shall refer to amounts net of such investment earnings.
This Certificate is limited in right of payment to certain collections and recoveries relating to the Home Equity Loans and amounts on deposit in the Certificate Account and the Principal and Interest Account (except as otherwise provided in the Pooling and Servicing Agreement).
More Definitions of Principal and Interest
Principal and Interest means all scheduled payments during the applicable period of principal and cash interest obligations on the Company's Indebtedness."
Principal and Interest any principal, interest or any other sum payable under this Agreement or the Notes shall not be paid within five days of when due;
Principal and Interest. This Discount has an Issue Price (as specified on the face hereof) that is less than 100% of the principal amount thereof (i.e., par) by more than a percentage equal to the product of 0.25% and the number of full years to the Stated Maturity Date. This Discount Note will bear interest in the same manner as set forth in Section 3(a) above, and payments of principal and interest shall be made as set forth on the face hereof. Discount Notes may not bear any interest currently or may bear interest at a rate that is below market rates at the time of issuance. The difference between the Issue Price of a Discount Note and par is referred to as the "Discount".
Principal and Interest. Any moneys on deposit in the Bond Fund, other than the LOC Debt Service Account, shall be credited against the obligation of the Corporation under Section 4.02(a) and/or (b) hereof for the payment of principal of and interest on the Bonds.
Principal and Interest. This Promissory Note ("Note") shall be paid as follows: l payment of principal and interest in 2016 or $250,000, 1 payment of principal and interest in 2017 of $250,000, 1 payment of principal and interest in 2018 of $250,000, and the balance of principal and interest due on January 1 , 2019. Payments of both principal and interest are to be made in lawful money of the United States of America in immediately available funds. Prepayment: Debtor shall have the privilege of prepaying without penalty al! or any part of this Note, al any time, that includes the full interest payment.
Principal and Interest. All scheduled payments of principal and cash interest obligations of the Borrowers and their Subsidiaries during the period EBITDA to Principal and Interest Ratio Minimum EBITDA to Principal and Interest Ratio In Compliance Yes/No Date: ,
Principal and Interest. For value received, as herein provided, Celularity Inc., a Delaware corporation (“Borrower”) promises to pay to Sorrento Therapeutics, Inc., a Delaware corporation (“Lender”), the principal sum of up to $10,000,000, subject to the terms herein. On October 31, 2016, Lender advanced $5,000,000 as principal to Borrower and, on May 31, 2017, Lender advanced an additional $2,000,000 as principal to Borrower (collectively, the “Initial Loan”). No later than the first business day immediately following the date Borrower and Lender execute and deliver a contribution agreement in substantially the form agreed to by Borrower and Lender as of June 12, 2017 (such deadline, the “Execution Date”), Lender shall loan to Borrower an additional $1,000,000 (the “Subsequent Loan”), provided there is not any uncured Event of Default (as defined below) as of the Execution Date. Furthermore, by July 3, 2017, Lender shall loan to Borrower an additional $2,000,000 (or such lesser amount so that the aggregate amount advanced by Lender under this Note after giving effect to such loan totals $10,000,000) (the “Final Loan” and collectively with the Initial Loan and the Subsequent Loan, the “Loan”), provided that there is not then any uncured Event of Default. Interest shall accrue on the Initial Loan, the Subsequent Loan and the Final Loan, as applicable, from the date of such advance at a per annum rate equal to the lesser of (i) 10.0% and (ii) the maximum interest rate permitted by law.”