Payment Schedule and Maturity Date Clause Samples
The Payment Schedule and Maturity Date clause defines when and how payments must be made under an agreement, as well as the final date by which all outstanding amounts must be paid. Typically, this clause outlines the frequency of payments (such as monthly or quarterly), the specific due dates, and the ultimate maturity date when the full balance is expected to be settled. By clearly specifying these terms, the clause ensures both parties understand their financial obligations and timelines, reducing the risk of missed payments or disputes over when payments are due.
POPULAR SAMPLE Copied 9 times
Payment Schedule and Maturity Date. The entire principal balance of the Loan then unpaid and all accrued interest then unpaid shall be due and payable in full in immediately available funds on the Maturity Date. Accrued unpaid interest shall be due and payable on the last Business Day of the first calendar month after Closing Date and on the last Business Day of each succeeding calendar month thereafter until all principal and accrued interest owing on the Loan shall have been fully paid and satisfied.
Payment Schedule and Maturity Date. This Note is one of the Notes referred to in Credit Agreement and is entitled to the benefits thereof and subject to prepayment in whole or part as provided therein. The entire principal balance of this Note then unpaid shall be due and payable at the times as set forth in the Credit Agreement. Accrued unpaid interest shall be due and payable at the times and at the interest rate as set forth in the Credit Agreement until all principal and accrued interest owing on this Note shall have been fully paid and satisfied. Any amount not paid when due and payable hereunder shall, to the extent permitted by applicable Law, bear interest at the Past Due Rate, as set forth in the Credit Agreement.
Payment Schedule and Maturity Date. The entire principal balance of this Note then unpaid shall be due and payable in full on April 21, 2008 (the "Maturity Date"), the final maturity of this Note. Accrued unpaid interest only shall be due and payable on December 21, 2006, and on the twenty-first (21st) day of each succeeding month thereafter until all principal and accrued interest owing on this Note shall have been fully paid and satisfied.
Payment Schedule and Maturity Date. (a) Accrued unpaid interest shall be due and payable on the first day of the calendar month after the date of this Agreement and on the same day of each succeeding calendar month thereafter until all principal and accrued interest owing on this Loan shall have been fully paid and satisfied.
(b) Commencing on the date (the "Amortization Date") which is the first day of the month commencing on or after the twelfth month anniversary of the date hereof, the principal of the Loan shall be due and payable in monthly installments equal to the amount for the applicable month (by specific calendar months) set forth on Exhibit D (each such monthly amount, a "Monthly Principal Amount"). Such principal amortization payments shall be due and payable on the Amortization Date and on the first day of each succeeding month thereafter until the Loan shall have been fully paid and satisfied, provided that on the Maturity Date the entire principal balance of the Loan then unpaid and all accrued interest then unpaid shall be finally due and payable.
(c) Borrower may elect to extend the Maturity Date for up to two (2) one-year periods (each such period, an "Extension Term" and the end of such Extension Term, if the applicable extension option is validly exercised, the "Extended Maturity Date"), upon and subject to the following terms and conditions (which shall be required to be satisfied separately with respect to each of such two extension options):
Payment Schedule and Maturity Date. 1.13.1 Accrued and unpaid interest shall be due and payable commencing on May 15, 2010 and on the 15th day of each succeeding month thereafter until all principal and accrued interest owning on the Loan shall have been fully paid and satisfied.
1.13.2 Commencing on the 15th day of the first calendar month following the first payment of rent by Skechers pursuant to the Lease and continuing on the 15th day of each and every calendar month thereafter until the Loan has been repaid in full, Borrower shall make principal payments in an amount derived assuming a thirty (30) year amortization and interest at the rate of the greater of eight percent (8%) per annum or the rate then paid on ten (10) year Treasury Notes, plus TWO HUNDRED AND FIFTY (250) basis points; provided, that on the Maturity Date the entire principal balance of the Loan then unpaid and all accrued interest then unpaid shall be finally due and payable. It is acknowledged and agreed that the interest rate set forth in this Section 1.13.2 shall not be the interest rate under the Loan (which interest rate is set forth in Section 1.7 above), but rather shall be used solely for the determination of the amount of each principal payment to be made pursuant to this Section 1.13.2).
1.13.3 Administrative Agent shall grant a request by Borrower to extend the Maturity Date of the Loan to October 30, 2012 (the “Extended Maturity Date”), upon and subject to the following terms and conditions:
Payment Schedule and Maturity Date. Accrued unpaid interest on the principal balance outstanding hereunder shall be due and payable semi-annually, in arrears, commencing on the first day of November following the Effective Date, and continuing on the 1st day of each succeeding November and May thereafter until all principal and accrued interest owing on this Note shall have been fully paid and satisfied. Borrower may, in its sole discretion, elect to make any interest payment by adding the amount of such payment, as of the date that such payment is due and owing, to the principal balance of this Note. The entire amount of this Note then unpaid shall be due and payable in full on the last day of the month which is the thirty-sixth month following the Effective Date (such date, or any earlier date on which such amounts may become due and payable pursuant to Section 7 hereof, the "Maturity Date").
Payment Schedule and Maturity Date. (a) The entire Principal Debt then unpaid and all accrued interest then unpaid shall be due and payable in full on the Maturity Date. Accrued unpaid interest shall be due and payable in arrears on the first day of the first calendar month after the Closing Date and on the same day of each succeeding calendar month thereafter until all principal and accrued interest owing on the Loan shall have been fully paid and satisfied.
(b) Subject to the conditions set forth in Exhibit “I”, Borrower shall have an option to extend the Maturity Date from the Initial Maturity Date to the Extended Maturity Date (such extension period is referred to herein as the “Extension Term”).
(c) In the event the Maturity Date is extended from the Initial Maturity Date to the Extended Maturity Date, principal payments on the Loan, each in an amount equal to the Required Amortization Payment, shall be due and payable on February 1, 2018 and on the first day of each succeeding calendar month thereafter during the Extension Term until all principal owing on the Loan shall have been fully paid and satisfied.
Payment Schedule and Maturity Date. Prior to maturity, accrued and unpaid interest shall be due and payable in arrears on the 1st day of each month commencing on August 1, 2011. The principal of this Note shall be due and payable in equal installments of $14,600.00 each, on June 1, 2012 and on the 1st day of each succeeding month thereafter until this Note shall have been fully paid and satisfied; provided, that on December 1, 2012 (the “Maturity Date”), the final maturity of this Note, the entire principal balance of this Note then unpaid and all accrued interest then unpaid shall be finally due and payable.
Payment Schedule and Maturity Date. (a) The entire Principal Debt then unpaid and all accrued interest then unpaid shall be due and payable in full on the Maturity Date. Accrued unpaid interest shall be due and payable in arrears on the first day of the first calendar month after the Closing Date and on the same day of each succeeding calendar month thereafter until all principal and accrued interest owing on the Loan shall have been fully paid and satisfied.
(b) Subject to the conditions set forth in Exhibit “I”, Borrowers shall have two (2) option(s) to extend the then Maturity Date. The first option shall extend the Maturity Date from the Initial Maturity Date to the First Extended Maturity Date (such extension period is referred to herein as the “First Extension Term”). The second option shall extend the Maturity Date from the First Extended Maturity Date to the Second Extended Maturity Date (such extension period is referred to herein as the “Second Extension Term”, and together with the First Extension Term, each an “Extension Term”).
Payment Schedule and Maturity Date. (a) Prior to final maturity, the First Replacement Note shall be due and payable in installments of $21,221.38 each, inclusive of interest, based on a twenty (20) year amortization schedule for $2,500,000 in principal and interest accruing at a fixed rate of eleven percent (11%) per annum. The first installment shall be due and payable on May 1, 1997 and a like installment shall be due and payable on the first day of each succeeding month thereafter; provided, however, that on December 31, 1997, the final maturity of the First Replacement Note, the entire principal balance of the First Replacement Note then unpaid and all accrued interest then unpaid shall be finally due and payable.
(b) Prior to final maturity, the Second Replacement Note shall accrue interest at a fixed rate of eleven percent (11%) per annum which shall be due and payable commencing on May 1, 1997 and on the first day of each succeeding month thereafter. On December 31, 1997, the final maturity of the Second Replacement Note, the entire principal balance of the Second Replacement Note then unpaid and all accrued interest then unpaid shall be finally due and payable.