Prepayments of Principal Sample Clauses

The "Prepayments of Principal" clause defines the rules and procedures for a borrower to pay back part or all of the loan principal before the scheduled due dates. Typically, this clause outlines whether prepayments are allowed, if any penalties or fees apply, and how such payments affect the loan balance and future interest calculations. For example, it may specify that prepayments reduce the outstanding principal and can shorten the loan term or lower total interest costs. The core function of this clause is to provide flexibility for borrowers to manage their debt more efficiently while protecting the lender’s interests by clarifying the terms and consequences of early repayment.
Prepayments of Principal. The following provisions apply in respect of prepayment of the Loans by the Company: (a) The Company may prepay Floating Rate Loans in whole or in part on any Business Day in amounts aggregating $5,000,000 or any larger multiple of $5,000,000 (unless such prepayment would cause the aggregate outstanding principal amount of Floating Rate Loans to be less than $5,000,000, in which event prepayment may only be made in an amount equal to the entire outstanding principal amount of Floating Rate Loans), by paying the principal amount being prepaid together with accrued interest thereon to the date of prepayment. Each prepayment in part of such Loans shall be applied to such Loans of the Banks ratably in accordance with their respective shares of the aggregate outstanding principal amount of the Floating Rate Loans. (b) The Company may, upon at least three Business Days' notice to the Agent, prepay any Fixed Base Rate Syndicated Borrowing in whole or in part on any Business Day in the amount of $10,000,000 or any larger multiple of $5,000,000 (unless such prepayment would cause the aggregate outstanding principal amount of such Fixed Base Rate Syndicated Borrowing to be less than $10,000,000, in which event prepayment may only be made in an amount equal to the outstanding unpaid principal amount of such Fixed Base Rate Syndicated Borrowing), by paying the principal amount being prepaid together with accrued interest thereon to the date of prepayment; provided, however, that the Company shall compensate the Banks pursuant to Section 5.5 for any losses or expenses incurred as a result thereof. Each prepayment in part of any Fixed Base Rate Syndicated Borrowing shall be applied to the Fixed Base Rate Syndicated Loans comprising such Borrowing of the Banks ratably in accordance with their respective shares of the aggregate outstanding principal amount of such Loans. MASCOTECH, INC. CREDIT AGREEMENT (c) Unless otherwise required by this Agreement, the Company may not prepay any Bid-Option Loan in whole or in part without the consent of the Bank that made such Bid-Option Loan.
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Prepayments of Principal. Borrower, at its option, subject to the limitations contained in the Loan Documents and the payment of any applicable Prepayment Premium as set forth in the Loan Documents and the payment of accrued interest to the date of prepayment, may prepay, all or part of the principal this Note. All such prepayments shall be applied in the inverse order of maturity without suspension of regularly scheduled payments due under this Note. This Note is secured by a mortgage and associated security agreements dated April 19, 1993, as modified, ("Mortgage") and the terms and conditions of the Mortgage are incorporated herein by reference and Lender is entitled to the benefits thereof. The holder of this Note may enforce the agreements of Borrower contained in the Loan Documents and Mortgage and may exercise the remedies provided for therein or otherwise available at law or in equity. Upon the occurrence of an event of default as described in the Loan Documents or the Mortgage, any principal amounts advanced under the Note, interest accrued thereon, and other charges due hereunder or under the Loan Documents, may be declared to be immediately due and payable as provided in the Loan Documents. This Note may be enforced in any court or other tribunal having jurisdiction over the subject matter hereof, and Borrower shall pay to the holder hereof on demand such amounts in United States dollars as shall be sufficient to pay the enforcement costs and expenses of such holder, including, without limitation, reasonable attorney's fees and expenses, including those attorney's fees and expenses incurred on appeal or in the event the holder takes actions to protects its interest hereunder in proceedings in bankruptcy. As used herein, attorney's fees shall include a separate award for paralegal or legal assistant's fees. Such costs, expenses and attorney's fees shall become part of the indebtedness secured by the Mortgage and shall draw interest from the date incurred until paid at the applicable Default Rate of interest provided in the Loan Documents. No reference herein to the Loan Documents and no provision of this Note or the Loan Documents shall alter or impair the obligation of Borrower, which is absolute and unconditional, to pay the principal of and interest (and any default interest rate or other charges due) on this Note as provided herein. Borrower shall be in default under this Note upon the happening of any of the following events, circumstances or conditions; namely:
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Prepayments of Principal. Section 2.9(b) of the Credit Agreement is hereby amended to delete the last sentence thereof in its entirety, which prior to the Fourth Amendment reads as follows: "Borrower shall have no right to prepay Term Loan II, unless Borrower shall have prepaid in full Term Loan I and terminated the Revolving Credit Commitment, in which event Term Loan II shall be prepaid in full and without premium or penalty applicable to Term Loan II."
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Prepayments of Principal. 30 2.10 Time and Place of Payments.............................32 2.11
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Prepayments of Principal. 6 Section 2.4 Time and Place of Payments....................................7 Section 2.5 Application of Funds..........................................7 Section 2.6 Payments to be Free of Deductions.............................7
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Prepayments of Principal. Use of Proceeds. All references to "the ▇▇▇▇▇▇▇▇▇ Acquisition" in Sections 2.9(d) and 2.13 of the Credit Agreement are hereby amended to read "the Landmaster Acquisition or the Weed Wizard Acquisition".
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Prepayments of Principal 
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Related to 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.

  • 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.

  • 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 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

  • Payments of Principal and Interest (a) The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes shall accrue interest during each Interest Period at the Class A-1 Rate, the Class A-2 Rate, the Class A-3 Rate, the Class A-4 Rate and the Class B Rate, respectively, and such interest shall be payable on each related Payment Date as specified in such Notes, pursuant to Section 5.06 of the Sale and Servicing Agreement and Section 3.01 hereof. Any installment of interest or principal payable on any Note that is punctually paid or duly provided for by the 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 by wire transfer in immediately available funds to the account designated by such Person. (b) The principal of each Note shall be payable in installments on each Payment Date pursuant to Section 5.06 of the Sale and Servicing Agreement and subject to the availability of funds therefor. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of such Class entitled thereto. In accordance with Section 10.01, the Indenture 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 final installment of principal of and interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile not less than 15 nor more than 30 days prior to such final Payment Date, 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. (c) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to the Noteholders, such tax shall reduce the amount otherwise distributable to the Noteholders in accordance with this Section. The Issuer will instruct the Indenture Trustee regarding the imposition of such withholding tax and, upon receiving such instruction, the Indenture Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Indenture Trustee from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to the Noteholders shall be treated as cash distributed to the Noteholders at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to any distribution (such as any distribution to a Non-U.S. Person), the Indenture Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c). In the event that any Noteholder wishes to apply for a refund of any such withholding tax, the Indenture Trustee shall reasonably cooperate with the Noteholder in making such claim so long as the Noteholder agrees to reimburse the Indenture Trustee for any out-of-pocket expenses incurred.