Payments and Prepayments of Principal Clause Samples

The "Payments and Prepayments of Principal" clause defines the rules and procedures for repaying the main amount borrowed under a loan agreement, including both scheduled payments and any early repayments. It typically outlines when and how principal payments must be made, whether prepayments are allowed without penalty, and any notice requirements or restrictions on prepaying the loan. This clause ensures both parties understand the timing and conditions for reducing the outstanding loan balance, thereby providing clarity and predictability in the repayment process.
Payments and Prepayments of Principal. Section 2.7 Taxes..................................................
View Source
Payments and Prepayments of Principal. 37 Section 3.2 Interest on Obligations; Margins; Break Funding......... 37 Section 3.3 Interest Payment Dates.................................. 40 Section 3.4
View Source
Payments and Prepayments of Principal. (a) The Borrower may, upon two (2) Business Days' advance notice to the Bank, which if not in writing shall be promptly confirmed in writing, make voluntary full or partial prepayments of the outstanding principal amount of any Prime Rate Loan on any Business Day and any LIBOR Rate Loan on the last day of any Interest Period applicable thereto, in integral multiples of $100,000, without premium or penalty. Each such voluntary prepayment shall be applied to the last maturing installment or installments of principal of the Loan in inverse order of their maturity. (b) On the date of consummation of a public offering of preferred stock or other equity interest of Realty, the Borrower shall prepay the outstanding principal amount of the Loan together with all accrued and unpaid interest thereon to the full extent of the proceeds of each such offering net of customary and usual fees incurred in connection therein including underwriter commissions. In the event any prepayment of the Loan pursuant to this Section 2.6(b) would require an indemnity payment to the Bank in accordance with Section 2.10 then, the Bank in its discretion may either (i) hold the payment in an interest-bearing account at the Bank under the Bank's sole dominion and control as cash collateral for the Obligations and not credit the same to payment of the Loan until the last day of the Interest Period then in effect or, if earlier, the date of any acceleration of the Loan or (ii) waive payment of the fee pursuant to Section 2.10. The interest accrued on any such cash collateral shall be remitted to the Borrower to the extent of any such interest after payment in full of the Loan, the interest thereon and all fees, expenses and other obligations due hereunder and under the other Loan Documents. (c) No amount prepaid on the Loan may be reborrowed.
View Source
Payments and Prepayments of Principal. 9 2.7. Method of Computing Interest..............................10 2.8. Place and Method of Payments..............................10 2.9.
View Source
Payments and Prepayments of Principal. (a) The Loan Balance shall be repaid by Borrowers in full (together with all accrued but unpaid interest thereon) on the Maturity Date. (b) Within five (5) Business Days after the consummation of any Partial PDC Sale, the Borrowers shall prepay the Loan Balance together with all accrued but unpaid interest thereon in amount equal to the PDC Loan Mandatory Prepayment Amount with respect to such Partial PDC Sale, provided, that to the extent the Borrowers pay a PDC Loan Mandatory Prepayment Amount in respect of a property which is not a PDC Mortgaged Property, then the allocated amounts set forth on Schedule 1 hereto shall each be reduced pro rata by an aggregate amount equal to the amounts of such PDC Loan Mandatory Prepayment Amount. (c) Upon not less than five (5) Business Days’ prior notice in writing to Lender, Borrowers may prepay the Loan Balance in its entirety or in part on any Business Day without premium or penalty of any kind, but together with all accrued but unpaid interest on the amount thereof that is prepaid. If such notice is given, the amount specified therein shall be due and payable on the date specified therein.. (d) Upon receipt by Lender of the amount of any payment pursuant to this Section 5, the Mortgages and all other liens and security interests securing the Loans (or, in the case of a prepayment pursuant to Section 5(b) above, the applicable Mortgages and all other liens and security interests securing the Loans with respect to the applicable Mortgaged Properties subject to such Partial PDC Sale) shall be terminated and released, and Lender shall execute and deliver to Borrowers all documents and instruments reasonably requested by Borrowers to evidence such termination and release. (e) Borrowers hereby waive presentment and protest of any instrument and notice thereof, and, to the extent permitted by applicable law, all other notices to which Borrower might otherwise be entitled.
View Source
Payments and Prepayments of Principal 
View SourceView Similar (7)

Related to Payments and Prepayments of Principal

  • 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.

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 33 Section 3.02 Interest 33 Section 3.03 Alternate Rate of Interest 34 Section 3.04 Prepayments 35 Section 3.05 Fees 36

  • 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 and Prepayments 1.1 Payments and prepayments of principal and interest on this Note shall be made to Payee at ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇. 10604. 1.2 Payments and prepayments of principal and interest on this Note shall be made in lawful money of the United States of America. 1.3 If any payment on this Note becomes due and payable on a Saturday, Sunday or other day an which commercial banks in New York City are authorized or required by law to close, the maturity thereof shall be extended to the next succeeding business day, and, with respect to payments of principal, interest thereon shall be payable during such extension at the then applicable rate. 1.4 The Company shall be obligated to prepay the outstanding principal amount of this Note within ten (10) days after such time as (i) the Company receives net proceeds of at least $1,000,000 from an equity financing, or (ii) the Company sells substantially all its assets. The Company shall have the right at any time and from time to time to prepay this Note in whole or in part, together with interest on the amount prepaid to the date of prepayment, without penalty or premium. Upon payment of part of the principal amount of this Note, the Company may require the holder to present this Note for notation of such payment and, if this Note is paid in full, require the holder to surrender this Note. 1.5 Upon payrnent in full of all outstanding principal and interest due under this Note, the Company's obligations in respect of payment of this Note shall terminate and the holder shall return it to the Company.

  • Repayments and Prepayments The Borrower shall repay the Loans in fourteen equal semi-annual installments on the last day of each Interest Period, as set forth on Schedule II hereto. In addition, the Borrower (a) may, from time to time on any Business Day, make a voluntary prepayment, in whole or in part, of the outstanding principal amount of the Loans; provided that (i) any such prepayment shall be made pro rata among all Loans and applied in inverse order of maturity; (ii) all such voluntary prepayments shall require at least three Business Days (or, if such prepayment is to be made on the last day of an Interest Period for the Loans, two Business Days) prior written notice to the Administrative Agent; and (iii) all such voluntary partial prepayments shall be in an aggregate minimum amount of $10,000,000 and a multiple of $1,000,000 (or the remaining amount of the Loans being prepaid); and (b) shall, immediately upon any acceleration of the Stated Maturity Date of the Loans pursuant to Section 8.2 or 8.3 or the mandatory repayment of the Loans pursuant to Section 9.2, repay all Loans. Each prepayment of any Loans made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4, provided that any prepayment under this Agreement shall be made subject to payment by the Borrower to the Administrative Agent (for the account of the FEC Counterparty) of any FEC Break Costs on written demand by the FEC Counterparty, which demand shall set forth the amount of the FEC Break Costs and reasonably detailed calculations thereof.