Payments of Interest and Principal Sample Clauses
POPULAR SAMPLE Copied 1 times
Payments of Interest and Principal. The Paying Agent shall act as Paying Agent for the Bonds and in such capacity it shall:
(i) with funds provided by Issuer, pay the interest upon the Bonds by mailing checks to the persons entitled to receive such interest, as determined by the registry of the Issuer maintained by the Paying Agent, provided that Issuer shall have deposited with the Paying Agent, on or before the day upon which interest checks are to be mailed, sufficient funds to cover payment of such interest;
(ii) with funds provided by Issuer, pay the principal amount (including premium, if any) of the Bonds to the registered holders of such Bonds, upon the maturity date or earlier redemption date upon which the principal is to become payable and upon delivery to the Paying Agent of a Bond certificate with respect to which such principal payment shall have become payable, provided that the Issuer shall have deposited with the Paying Agent, on or before the payment date, sufficient immediately available funds to pay the aggregate principal amount (including premium, if any) due on all Bonds so payable;
(iii) if a Bondholder shall report to the Paying Agent that any check so mailed for the payment of interest or principal has been lost and that the proceeds thereof, have not been received and if the check has not been paid then, upon execution of an indemnity agreement satisfactory to the Paying Agent and the Issuer, stop payment upon such check, and issue and deliver to such Bondholder a new check for like amount; provided, however, that it may, at its discretion, defer the issuance of the new check for a reasonable period of time;
(iv) record the fact of payment and cancel Bonds surrendered to it for payment, coincident with such payment being made to the person thereto entitled; and
(v) have no liability for interest on any funds received by it; any unclaimed funds remaining in the possession of the Paying Agent for payment of the Bonds will be escheated in accordance with applicable law and the Paying Agent’s policies and procedures.
Payments of Interest and Principal. 10 Section 2.06. Form of Delivery of Class B(2008-3) Notes; Denominations 10
Payments of Interest and Principal. (a) Any installment of interest or principal, if any, payable on any Class A(2017-3) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2017-3) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee.
(b) The right of the Class A(2017-3) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2017-3) Termination Date.
Payments of Interest and Principal. (a) [The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture Supplement; and provided, further, that if a Class B ( - ) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class B ( - ) Notes in accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class B ( - ) Notes shall be made as set forth in Section 1102 of the Indenture.]
(b) The right of the Class B ( - ) Noteholders to receive payments from the Issuer will terminate on the Class B ( - ) Termination Date.
(c) All payments of principal, interest or other amounts to the Class B ( - ) Noteholders will be made pro rata based on the Stated Principal Amount of their Class B ( - ) Notes.
Payments of Interest and Principal. (a) [The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture Supplement; and provided, further, that if a Class A( - ) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class A( - ) Notes in accordance with Sections 3.01 and 3.05
Payments of Interest and Principal. Borrower shall pay to Lenders all accrued interest on the Loan in arrears on each Payment Date, upon a prepayment of such Loan in accordance with Section 2.8 and at maturity in cash. Any partial prepayment of the Loan shall be applied in inverse order of maturity and so shall not reduce the amount of any quarterly principal amortization payment required pursuant to Section 2.9.1 (but this shall not be construed as permitting any partial prepayment other than as may be expressly permitted elsewhere in this Agreement).
Payments of Interest and Principal. (a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture Supplement; and provided, further, that if a Class C(2010-1) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class C(2010-1) Notes in accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class C(2010-1) Notes shall be made as set forth in Section 1101 of the Indenture.
(b) The right of the Class C(2010-1) Noteholders to receive payments from the Issuer will terminate on the Class C(2010-1) Termination Date.
(c) All payments of principal, interest or other amounts to the Class C(2010-1) Noteholders will be made pro rata based on the Stated Principal Amount of their Class C(2010-
1) Notes.
Payments of Interest and Principal. Interest on the borrowed outstanding principal balance under this Note shall be payable quarterly, commencing on the first banking day of each quarter, including credit for an October 1, 2008 payment, and a January 1, 2009 payment, and thereafter, until the Maturity Date (each, an “Interest Date”); provided however, the first payments, otherwise due under the August 22, 2008 Superseding Note on October 1, 2008, and otherwise due on January 1, 2009, will be added to principal and treated as paid but reborrowed under the terms hereof.
Payments of Interest and Principal. The Borrowers shall make payments of interest and principal on the Note as follows:
(i) The Borrowers shall make a payment to Lender of interest only on the Closing Date for the period from and including the Closing Date through and including the last day of the calendar month in which the Closing occurs; and
(ii) Commencing on August 1, 2004 and on each Payment Date thereafter through but not including the Maturity Date, the Borrowers shall make a payment of interest on the Loan for the prior calendar month, and in addition shall make a payment of principal on the Loan in an amount equal to the Scheduled Mortgage Principal Payment for such Payment Date.
Payments of Interest and Principal. The Borrowers shall make payments of interest and principal on the Note as follows:
(i) The Borrowers shall make a payment to Lender of interest only on the Closing Date for the first Interest Accrual Period;
(ii) On each Payment Date commencing with the Payment Date in December 2002, and on each Payment Date thereafter through but not including the Payment Date in December 2003, the Borrowers shall make a payment of interest on the Loan for the Interest Accrual Period immediately preceding each such Payment Date, and in addition shall make a payment of principal on the Loan in an amount equal to the lesser of (x) the Scheduled Mortgage Principal Payment or (y) Mortgage Lender's Percentage of all Excess Cash Flow; provided that the amount of Mortgage Lender's Percentage of the amount of any Release Price Excess for any Property released during such period shall be deemed applied (without duplication) in reduction of each of the Scheduled Mortgage Principal Payments next becoming due and payable under this clause (ii) and under clause (iii) of this Section 2.4(A) through the Scheduled Maturity Date (but not beyond) in an amount equal to (x) Mortgage Lender's Percentage of such Release Price Excess divided by (y) the number of such Scheduled Mortgage Principal Payments remaining through the Scheduled Maturity Date; and
(iii) On each Payment Date commencing with the Payment Date in December 2003, and on each Payment Date thereafter through the Maturity Date, the Borrowers shall make
(iv) On each Payment Date prior to the Payment Date in December 2003, if Mortgage Lender's Percentage of Excess Cash Flow in any month exceeds the Scheduled Mortgage Principal Payment for such month, such excess amount shall be paid to Lender and applied to principal on the Loan until the amount of any Amortization Deficiency has been reduced to zero, and any remainder Excess Cash Flow thereafter shall be distributed in accordance with the terms of the Cash Management Agreement; and
(v) At any time the then Aggregate Outstanding Principal Balance is less than $90,812,257.80, Mortgage Lender's Percentage of Excess Cash Flow shall be paid to Lender and applied on each Payment Date in reduction of the principal balance of the Loan (which payment shall be made without the imposition of any Prepayment Consideration).