Term Loan Installment definition
Examples of Term Loan Installment in a sentence
The principal amount of the Term Loan shall be paid in installments (all such installment payments, collectively, the "Scheduled Term Loan Installment Payments") on the last day of each calendar quarter, commencing with the calendar quarter ending June 30, 2021, in an amount equal to 0.625% times the original principal amount of the Term Loan, as adjusted in accordance with Section 2.3.5 hereof.
The outstanding principal amount of this Term Loan Note shall be paid in installments on each Term Loan Installment Date and in the manner specified in the Credit Agreement referred to below.
The District will provide an ongoing salary increase of three percent (3%) to SRVEA members effective July 1, 2016 and a one-time payment of two percent (2%) based upon salary schedule placement as of November 1, 2017.
Co-Borrowers shall pay the Backend Financing Fee at the same time as the final Term Loan Installment of each Term Loan.
In the event that Co-Borrowers begin making Accelerated Term Loan Installments but the Cash Flow Ratio as at the end of any calendar month is equal to or greater than 4:1 for two (2) consecutive months, then Co-Borrowers shall resume, as of the next date that an Accelerated Term Loan Installment would fall due, making payments of principal and interest in an amount equal to the Term Loan Installments.
Subject to Section 2.08(d), all prepayments of the Term Loans shall be applied as follows: first, to reduce the principal amount payable by the Borrowers on the most remote scheduled Term Loan Installment Date and all accrued but unpaid interest thereon until such scheduled payment (and unpaid interest) is reduced to zero and second, to reduce the aggregate principal amount payable by the Borrowers on the then remaining Term Loan Installment Dates in the inverse order of their due dates.
In the event that either (i) the Cash Flow Ratio as at the end of any calendar month is less than 4:1 or (ii) there is a Material Adverse Event, then Co-Borrowers shall begin, as of the next date that a Term Loan Installment would fall due, making payments of principal and interest equal to two (2) times the Term Loan Installments (referred to herein collectively as "Accelerated Term Loan Installments" and individually as a "Accelerated Term Loan Installment").
All prepayments which are applied to reduce the principal amount of the Term Loans shall reduce the aggregate principal amount payable by the Borrowers on the then remaining Term Loan Installment Dates on a pro rata basis.
Each Senior Term Loan Note shall be dated the date of this Agreement and stated to mature in accordance with the Senior Term Loan Installment Payment Schedule.
Any optional or mandatory prepayment of Term Loans on or after the Amendment No. 4 Effective Date shall be applied to reduce the amount of subsequent Term Loan Installment Amounts in forward order of maturity.