Common use of Minimum Monthly Principal Payments Clause in Contracts

Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "PRINCIPAL AMOUNT") shall begin on July 1, 2004 and shall recur on the first calendar day of each succeeding month thereafter until the Maturity Date (each, an "AMORTIZATION DATE") as set forth in the table below: ------------------------------- ---------------------------- ---------------------------- ---------------------------- Date Principal Amount Date Principal Amount ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/04 $25,000 10/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 8/1/04 $25,000 11/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 9/1/04 $25,000 12/1/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 10/1/04 $25,000 1/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 11/1/04 $25,000 2/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 12/1/04 $25,000 3/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 1/1/05 $25,000 4/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 2/1/05 $25,000 5/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 3/1/05 $25,000 6/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 4/1/05 $45,000 7/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 5/1/05 $45,000 8/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 6/1/05 $45,000 9/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/05 $45,000 10/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 8/1/05 $45,000 11/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 9/1/05 $45,000 12/1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 1/1/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 2/1/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 3/1/07 $55833.39 ------------------------------- ---------------------------- ---------------------------- ---------------------------- Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount set forth above, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then owing under this Note but have not been paid (collectively, the "MONTHLY AMOUNT")

Minimum Monthly Principal Payments. Amortizing payments of the aggregate principal amount outstanding under this Note at any time (the "PRINCIPAL AMOUNT") shall begin on July 1the first business day in September, 2004 and shall recur and be due and payable on the first calendar business day of each succeeding month thereafter until the Maturity Date (each, an "AMORTIZATION DATE") as set forth in the table below: ------------------------------- ---------------------------- ---------------------------- ---------------------------- Date -------------------------------------------------------------------------------- Month Principal Amount Date Month Principal Amount ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/04 -------------------------------------------------------------------------------- 9/04 $25,000 10/1/05 75,000 4/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 8/1/04 150,000 -------------------------------------------------------------------------------- 10/04 $25,000 11/1/05 75,000 5/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 9/1/04 150,000 -------------------------------------------------------------------------------- 11/04 $25,000 12/1/05 75,000 6/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 10/1/04 190,000 -------------------------------------------------------------------------------- 12/04 $25,000 1/1/06 75,000 7/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 11/1/04 190,000 -------------------------------------------------------------------------------- 1/05 $25,000 2/1/06 75,000 8/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 12/1/04 190,000 -------------------------------------------------------------------------------- 2/05 $25,000 3/1/06 75,000 9/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 1/1/05 190,000 -------------------------------------------------------------------------------- 3/05 $25,000 4/1/06 75,000 10/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 2/1/05 190,000 -------------------------------------------------------------------------------- 4/05 $25,000 5/1/06 75,000 11/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 3/1/05 190,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 5/05 $25,000 6/1/06 75,000 12/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 4/1/05 190,000 -------------------------------------------------------------------------------- 6/05 $45,000 7/1/06 150,000 1/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 5/1/05 190,000 -------------------------------------------------------------------------------- 7/05 $45,000 8/1/06 150,000 2/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 6/1/05 190,000 -------------------------------------------------------------------------------- 8/05 $45,000 9/1/06 150,000 3/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 7/1/05 190,000 -------------------------------------------------------------------------------- 9/05 $45,000 10/1/06 150,000 4/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 8/1/05 190,000 -------------------------------------------------------------------------------- 10/05 $45,000 11/1/06 150,000 5/07 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 9/1/05 435,000 -------------------------------------------------------------------------------- 11/05 $45,000 12/1/06 150,000 -------------------------------------------------------------------------------- 12/05 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 1/1/07 150,000 -------------------------------------------------------------------------------- 1/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 2/1/07 150,000 -------------------------------------------------------------------------------- 2/06 $55833.33 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 3/1/07 150,000 -------------------------------------------------------------------------------- 3/06 $55833.39 ------------------------------- ---------------------------- ---------------------------- ---------------------------- 150,000 -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Subject to Section 3 below, beginning on the first Amortization Date, the Borrower shall make monthly payments to the Holder on each Repayment Date, each in the amount set forth above, together with any accrued and unpaid interest to date on such portion of the Principal Amount plus any and all other amounts which are then due and owing under this Note but have not been paid (collectively, the "MONTHLY AMOUNT"). Any Principal Amount that remains outstanding on the Maturity Date shall be due and payable on the Maturity Date.