Term Loan Interest Only Period definition

Term Loan Interest Only Period means, for each Term Loan, the period of time commencing on its Term Loan Funding Date through the day before the Term Loan Amortization Date.
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Term Loan Interest Only Period is the period commencing on the first (1st) calendar day of the first (1st) month following the month in which the Funding Date for such Term Loan Advance occurs and ending on June 1, 2018; provided, however, (a) upon Bank’s receipt of evidence satisfactory to Bank in its sole and reasonable discretion that Borrower has, after the First Amendment Effective Date, received milestone payments in the aggregate amount of not less than Two Million Dollars ($2,000,000), the Term Loan Interest-Only Period shall automatically be extended to December 1, 2018, and (b) upon the Funding Date of the initial Tranche Two Term Loan Advance, the Term Loan Interest-Only Period shall automatically be extended to June 1, 2019.
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Term Loan Interest Only Period is the period commencing on the first (1st) calendar day of the first (1st) month following the month in which the Funding Date for such Term Loan Advance occurs and ending on June 1, 2018; provided, however, (a) on the Funding Date of the Tranche Two Term Loan Advance in the amount of Two Million Dollars ($2,000,000) subject to the terms and conditions herein, the Term Loan Interest-Only Period shall automatically be extended to December 1, 2018, and (b) upon Bank’s receipt of evidence satisfactory to Bank in its sole and reasonable discretion that Borrower has, after the First Amendment Effective Date, satisfied the Milestone and Partnership Covenant, the Term Loan Interest-Only Period shall automatically be extended to June 1, 2019.
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Examples of Term Loan Interest Only Period in a sentence

  • Payments under the Term Note shall commence on January 1, 1996, and interest only shall continue to be due and payable on each April 1, July 1, October 1 and January 1 thereafter through the Term Loan Interest Only Period.

  • Borrower shall make monthly payments of interest only on the Bank Term Loan commencing on the first day of the month following the month in which the Bank Term Loan Funding Date occurs and continuing thereafter on the first day of each successive calendar month (each a “Bank Term Loan Interest Only Payment Date”) during the Bank Term Loan Interest Only Period.

  • For each Term Loan, Borrower shall make monthly payments of interest only commencing on May 1, 2012 and continuing thereafter on the first day of each successive calendar month during the Term Loan Interest Only Period.

  • For each Term Loan, Borrower shall make monthly payments of interest only commencing on the first day of the month following the month in which the Term Loan Funding Date occurs with respect to such Term Loan and continuing thereafter on the first day of each successive calendar month during the Term Loan Interest Only Period.

Related to Term Loan Interest Only Period

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.

  • Subsequent Interest Period has the meaning specified in Section 307.

  • Accrued Interest Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month’s interest on the applicable Principal Deficiency Amount at the Net WAC of the applicable Loan Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Simple Interest Advance means, with respect to a Simple Interest Receivable, the amount, as of the last day of a Collection Period, which is advanced with respect to such Simple Interest Receivable by the Servicer pursuant to Section 4.4(a) of the Sale and Servicing Agreement.

  • Interest Only Mortgage Loan A Mortgage Loan for which an interest-only payment feature is allowed during the interest-only period set forth in the related Mortgage Note.

  • Term Loan Election has the meaning specified in Section 2.06.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Initial Term Loan Repayment Date shall have the meaning provided in Section 2.5(b).

  • Term Loan Conversion Date means the Termination Date on which all Revolving Credit Advances outstanding on such date are converted into a term loan pursuant to Section 2.06.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date; and

  • Term Loan Installment Date means any Term B Loan Installment Date or any Incremental Term Loan Installment Date.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (a) accrued interest at the Uncertificated REMIC 2 Pass-Through Rate applicable to REMIC 2 Regular Interest LTZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC 2 Regular Interest LTZZ minus the REMIC 2 Overcollateralization Amount, in each case for such Distribution Date, over (b) the sum of the Uncertificated Accrued Interest on REMIC 2 Regular Interest LTAV1, REMIC 2 Regular Interest LTAV2, REMIC 2 Regular Interest LTAV3, REMIC 2 Regular Interest LTAF1, REMIC 2 Regular Interest LTAF2, REMIC 2 Regular Interest LTAF3, REMIC 2 Regular Interest LTAF4, REMIC 2 Regular Interest LTAF5, REMIC 2 Regular Interest LTAF6, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8 and REMIC 2 Regular Interest LTM9, with the rate on each such REMIC 2 Regular Interest subject to a cap equal to the Pass-Through Rate for the related Corresponding Certificate for the purpose of this calculation; provided, however, that for this purpose, calculations of the Uncertificated REMIC 2 Pass-Through Rate and the related caps with respect to each such REMIC 2 Regular Interest for which the Corresponding Certificate is a Group I Certificate shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Period and the denominator of which is 30.

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Term Loan A Note means a promissory note made by the Borrower in favor of a Term Loan A Lender evidencing the portion of the Term Loan A made by such Term Loan A Lender, substantially in the form of Exhibit C-1.

  • Incremental Term Loan Repayment Dates means the dates scheduled for the repayment of principal of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.