Principal Reduction Payment definition

Principal Reduction Payment means, with respect to a class of the LIBOR Rate Notes, a payment of principal on such class of the LIBOR Rate Notes prior to the Stated Maturity thereof.

Principal Reduction Payment means a payment of principal on the respective Tranche of the 2002 Bonds prior to maturity thereof.

Principal Reduction Payment means a payment of principal from funds available for such purpose on the respective Tranche of the Notes on the Distribution Dates prior to maturity thereof.

Examples of Principal Reduction Payment in a sentence

• Loans shall be interest only; provided, however, if the Venture has cash available for distribution to the Venturers after paying all accrued interest due and payable to AIOP, fifty percent (50%) of the remaining available cash shall be paid to AIOP to reduce the principal balance due on such loan(s) (the "Principal Reduction Payment").

• The Principal Reduction Payment shall be considered a principal reduction payment and not an advance principal payment.

• If, as of any Distribution Date, (a) Lenders have not received Principal Reduction Payments which total at least twenty percent (20%) of the original principal amount of the Loan or (b) the then most-recently calculated Debt Service Coverage Ratio is less than 1.4:1, on each such Distribution Date one hundred percent (100%) of all then existing Excess Net Cash Flow (if any) shall be paid to Agent, for the account of Lenders as a Principal Reduction Payment.

• In consideration of the issuance of the Conversion Shares, including the New Shares and the Principal Reduction Payment, concurrent with the execution and delivery of this letter agreement by the Purchasers, the Company’s obligation to issue an aggregate of 58,000 shares of common stock to the Purchasers on or about May 2, 2011 (the “Forfeited Shares”) is hereby terminated and the Purchasers hereby surrender, waive and forefeit all rights, title and interest in the Forfeited Shares.

• Failure to make a Principal Reduction Payment on a class of the LIBOR Rate Notes in the amount set forth in the Targeted Amortization Schedule on the Principal Reduction Payment Date shall not constitute an Event of Default under the Indenture.

More Definitions of Principal Reduction Payment

Principal Reduction Payment means, with respect to the Class A-1L Notes, a payment of principal on the Class A-1L Notes prior to the Stated Maturity thereof.

Principal Reduction Payment means a pro rata reduction of principal for a designated Series of Notes in accordance with an applicable Targeted Amortization Schedule for such Series.

Principal Reduction Payment means a principal and interest payment installment in an amount equal to the sum that would be owing for such calendar month based upon a twenty-five (25) year mortgage amortization of the amount of the Outstanding Principal Balance on the first day of the twenty-fifth (25th) calendar month from the date of this Note and at the Interest Rate set forth in Section 2.1 hereof on such day. Any capitalized term used in this Note and not otherwise defined herein shall have the meaning ascribed to each such term in the Loan Agreement. All terms used herein, whether or not defined in this Section 2.3, and whether used in singular or plural form, shall be deemed to refer to the object of such term whether such is singular or plural in nature, as the context may suggest or require.

Principal Reduction Payment means the partial prepayment of a portion of the outstanding principal balance of the Base Rent pursuant to the terms and conditions of Section 5.3(b).

Principal Reduction Payment has the meaning assigned in Section 8.15(d).

Principal Reduction Payment means a payment of principal in an amount that, if it had been made and applied to the principal balance of the Loan on the last day of the applicable calendar quarter, would have reduced the principal balance of the Loan to an amount that would have enabled the Debt Service Coverage Ratio to be in compliance with the then applicable requirement of Section 8.15(b) and the Project Yield to be in compliance with the then applicable requirement of Section 8.15(c). The Principal Reduction Payment shall be determined by Administrative Agent in its good faith business judgment. For avoidance of doubt, no prepayment premium shall be payable in connection with a Principal Reduction Payment.

Principal Reduction Payment means the payment of $1,500,000.00 in reduction of the principal amount outstanding under the Bank Indebtedness in accordance with the terms of the Loan Agreement.