Mandatory Repayment of Principal Clause Samples

The Mandatory Repayment of Principal clause requires the borrower to repay specified portions of the loan’s principal amount according to a predetermined schedule or upon the occurrence of certain events. Typically, this clause outlines the timing and amounts of each principal payment, which may be structured as regular installments or triggered by events such as asset sales or excess cash flow. Its core function is to ensure that the lender receives timely repayment of the loan’s principal, thereby reducing credit risk and providing predictability in the loan’s amortization.
Mandatory Repayment of Principal. Credit Facility Subject to the terms hereof, the Borrower shall repay all Obligations that it owes in connection with the Credit Facility, including the outstanding principal amount of all Advances thereunder together with all accrued interest, fees and other amounts then unpaid by it with respect to such Advances (which, for greater certainty, shall include all amounts payable by the Borrower to the Agent with respect to any Bankers’ Acceptance Loans outstanding thereunder on the Final Repayment Date) in full on the Final Repayment Date, and the Credit Facility and the Commitments thereunder shall be automatically terminated on the Final Repayment Date. 2. Voluntary Repayments and Reductions Subject to the Agent receiving a Repayment Notice which shall be given not less than one (1) Business Day prior to the proposed repayment date and which shall be irrevocable, the Borrower may from time to time repay Advances outstanding under the Credit Facility without premium, penalty or bonus provided that each such repayment shall be in a minimum aggregate amount of $5,000,000 and in whole multiples of $100,000 for Advances denominated in Canadian Dollars and in a minimum aggregate amount of US$5,000,000 and in whole multiples of US$100,000 for Advances denominated in United States Dollars. Notwithstanding the foregoing (i) SOFR Advances may not be repaid prior to the end of the applicable Interest Period unless the Borrower pays to the Agent (for the account of each Lender) an amount equal to the Breakage Costs; and (ii) Bankers’ Acceptance Loans may not be repaid prior to their respective maturity or expiry dates. The determination of the amount of any Breakage Costs resulting from, arising out of, or imposed upon or incurred by any Lender as a result of the repayment of any SOFR Advance prior to the end of the applicable Interest Period, when evidenced by a certificate from that Lender giving a reasonably detailed calculation of the amount of such loss, cost or expense, shall be prima facie evidence of the same. 3. Currency Fluctuations If the Agent determines that on any day as a result of currency fluctuations the aggregate of (a) Advances in United States Dollars then outstanding under the Credit Facility, and (b) the Equivalent Amount in United States Dollars of Advances in Canadian Dollars then outstanding under the Credit Facility on such day exceeds the Commitments then in effect in respect of the Credit Facility by more than 5%, the Agent shall notify t...
View Source
Mandatory Repayment of Principal. Subject to any other terms of this Note requiring additional repayments, the principal balance of this Note shall be paid on July 30, 2006, together with all unpaid interest accrued thereon.
View Source
Mandatory Repayment of Principal. The Borrower shall (unless waived, extended, renegotiated or refinanced by written agreement between the Lender and Borrower) repay all LIBOR Loans, pay all interest and shall pay all other monetary Obligations on the Maturity Date except such principal amounts thereof as have been converted to Shares of the Borrower pursuant to the terms of the Notes.
View Source
Mandatory Repayment of Principal. (1) Subject to the terms hereof, the Borrower shall repay all Obligations that it owes in connection with the Credit Facility, including the outstanding principal amount of all Advances thereunder together with all accrued interest, fees and other amounts then unpaid by it with respect to such Advances in full on the Maturity Date, and the Credit Facility shall be automatically terminated on the Maturity Date.
View Source
Mandatory Repayment of Principal. Delayed Draw A Facility Subject to the terms hereof, the Borrower shall repay all Obligations that it owes in connection with the Delayed Draw A Facility, including the outstanding principal amount of all Advances thereunder together with all accrued interest, fees and other amounts then unpaid by it in full on the Final Repayment Date – Delayed Draw A, and the Delayed Draw A Facility and the Commitments thereunder shall be automatically terminated on the Final Repayment Date – Delayed Draw A.
View Source
Mandatory Repayment of Principal. Subject to the provisions of Section 10.02, the Borrower shall repay the outstanding principal amount of, and pay any accrued and unpaid interest on, Loans under the Credit Facility and the Optional Credit Facility as follows: (a) if (i) the Borrower borrows money from any person after the Combination Agreement Termination Date; or (ii) the Borrower issues and sells any shares of its share capital, or any securities convertible into or exercisable or exchangeable for any such shares, other than as required by the terms of any securities outstanding on the date of this Agreement or pursuant to any Options, Warrants or Restricted Share Units (each as defined in the Combination Agreement) issued or granted prior to the date of this Agreement, then the Borrower shall, within three Banking Days of the receipt thereof, apply any net cash proceeds (after deduction of any commissions, discounts or fees and the estimated costs of such issue and sale) received by the Borrower from such borrowing or such issue and sale, as the case may be, to, firstly, the payment of any accrued and unpaid interest on, and, secondly, the repayment of the principal amount then outstanding of, Loans (or, if such net cash proceeds are not in an amount sufficient to repay such principal amount in full, such Loans as shall be specified by the Borrower); and (b) the balance of any outstanding principal amount of, and any accrued and unpaid interest on, Loans on the Maturity Date.
View Source

Related to Mandatory Repayment of Principal

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payment of Principal Premium, if any, and Interest; ---------------------------------------------------- Interest on Overdue Principal and Premium, if any; Principal, Premium and ------------------------------------------------------------------------- Interest Rights Preserved. (a) The Notes shall accrue interest as provided in -------------------------- the form of the Note attached to the related Series Supplement which shall be substantially in the form of a Note set forth in Exhibit B hereto, at the applicable Note Interest Rate specified therein, and such interest shall be payable on each Payment Date as specified therein. Any installment of interest, principal or premium, if any, payable on any Note which is punctually paid or duly provided for by the Note Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date for such Payment Date, by check mailed first- class, postage prepaid to such Person's address as it appears on the Note Register on such Record Date or in such other manner as may be provided in the related Series Supplement, except that with respect to Notes registered on the Record Date in the name of the Certificate Trustee payments will be made by wire transfer in immediately available funds to the account designated by the Certificate Trustee and except for the final installment of principal and premium, if any, payable with respect to such Note on a Payment Date which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03 hereof. (b) The principal of each Note of each Series (and, if applicable, Class) shall be payable in installments on each Payment Date specified in the form of a Note attached to the related Series Supplement in the form of a Note set forth in Exhibit B hereto. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes of a Series shall be due and payable, if not previously paid, on the date on which an Event of Default shall have occurred and be continuing with respect to such Series, if the Note Trustee or the Holders of the Notes representing not less than a majority of the Outstanding Amount of the Notes of all Series have declared the Notes to be immediately due and payable in the manner provided in Section 5.02. All payments of principal and premium, if any, on the Notes of any Series shall be made pro rata to the Noteholders entitled thereto. The Note Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Payment Date on which the Note Issuer expects that the final installment of principal of and premium, if any, and interest on such Note will be paid. Such notice shall be mailed no later than five days prior to such final Payment Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.02. (c) If the Note Issuer defaults in a payment of interest on the Notes of any Series when due, the Note Issuer shall pay such defaulted interest (plus interest on such defaulted interest at the applicable Note Interest Rate to the extent lawful). The Note Issuer may pay such defaulted interest (plus interest on such defaulted interest) to the Persons who are Noteholders on a subsequent special record date, which date shall be at least five Business Days prior to the payment date. The Note Issuer shall fix or cause to be fixed any such special record date and payment date, and, at least 20 days before any such special record date, the Note Issuer shall mail to each affected Noteholder a notice that states the special record date, the payment date and the amount of defaulted interest (plus interest on such defaulted interest) to be paid.

  • LOANS AND PAYMENTS OF PRINCIPAL Amount of Principal Date Amount of Loan Type of Loan Repaid Maturity Date Notation Made By ----------------------------- ------------------ ------------------ --------------------- ---------------------- ------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------ EXHIBIT B Form of Money Market Quote Request [Date] To: ▇▇▇▇▇▇ Guaranty Trust Company of New York (the "Agent") From: U S WEST Communications, Inc. Re: 364-Day Credit Agreement (the "Credit Agreement") dated as of May 19, 1999 among U S WEST Communications, Inc., the Banks listed on the signature pages thereof, the other agents named therein and the Agent We hereby give notice pursuant to Section 2.03 of the Credit Agreement that we request Money Market Quotes for the following proposed Money Market Borrowing(s): Date of Borrowing: __________________ Principal Amount1 Interest Period2 $ Such Money Market Quotes should offer a Money Market [Margin] [Absolute Rate]. [The applicable base rate is the London Interbank Offered Rate.] Terms used herein have the meanings assigned to them in the Credit Agreement.

  • Payments of Principal If an Early Amortization Period has not begun, on the Expected Final Payment Date, or on each Payment Date for an Early Amortization Period, and if the Indenture Trustee has received the Monthly Investor Report by the related Determination Date, the Indenture Trustee (based on the information in the Monthly Investor Report) will withdraw an amount up to the aggregate Note Balance of Series 20 - from the Series 20 - Principal Funding Account for payment in the following order of priority: (i) to the Noteholders of [the][each Class of] Class A Notes, [pro rata based on the principal amount of each Class of Class A Notes,] until the Note Balance of [the][each Class of] Class A Notes is reduced to zero, (ii) to the Noteholders of Class B Notes, until the Note Balance of the Class B Notes is reduced to zero, (iii) to the Noteholders of the Class C Notes, until the Note Balance of the Class C Notes is reduced to zero and (iv) to the Noteholders of the Class D Notes, until the Note Balance of the Class D Notes is reduced to zero.

  • Default in Payment of Principal of Loans and Reimbursement Obligations The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).