Principal and Interest Payments Clause Samples

Principal and Interest Payments. For each Growth Capital Advance, Borrower shall make thirty-six (36) consecutive equal monthly payments of principal and interest each in an amount which would fully amortize the outstanding Growth Capital Advances, as of the Conversion Date, over the Growth Capital Repayment Period (the “Growth Capital Scheduled Payment”), which payment shall commence on July 1, 2014 (the “Conversion Date”). All unpaid principal and accrued and unpaid interest on the Growth Capital Advances is due and payable in full on the Growth Capital Maturity Date.

Principal and Interest Payments. Borrower hereby agrees to continue to make equal monthly payments of principal and interest on the Prior Equipment Loan of Sixty Thousand Four Hundred Seventy Dollars and Eight-Two Cents ($60,470.82) commencing on the first (1st) calendar day of the first (1st) month after the Effective Date and continuing thereafter on the first (1st) calendar day of each successive month (each, a “Payment Date”). All unpaid principal and accrued and unpaid interest on the Prior Equipment Loan is due and payable in full on the Prior Equipment Maturity Date. The Prior Equipment Loan shall continue to accrue interest at a fixed per annum rate of five and one half of one percent (5.50%).

Principal and Interest Payments. The entire outstanding principal of the Notes shall be payable on June 15, 2024 (the “Maturity Date”). The rate at which the Notes shall bear interest shall be 6.25% per annum (the “Applicable Interest Rate”). The date from which interest shall accrue on the Notes shall be the most recent Interest Payment Date immediately preceding the date of issuance of the Notes from time to time (except that if Notes are issued after a Regular Record Date (as such dates are noted below) such Notes will not accrue interest for the period from such date of issuance to the Interest Payment Date immediately following such Regular Record Date); the Interest Payment Dates for the Notes shall be March 15, June 15, September 15 and December 15 of each year, commencing the Interest Payment Date immediately following the date of issuance of the Notes from time to time (except that if Notes are issued after a Regular Record Date, the initial Interest Payment Date for such Notes will be the Interest Payment Date following the Interest Payment Date immediately following the date of issuance of the Notes)(in each case, if an Interest Payment Date falls on a day that is not a Business Day, then the applicable interest payment will be made on the next succeeding Business Day and no additional interest will accrue as a result of such delayed payment); the initial interest period will be the period from and including the most recent Interest Payment Date immediately preceding the date of issuance of the Notes from time to time to, but excluding, the next Interest Payment Date (except that if Notes are issued after a Regular Record Date, the initial interest period will be the period from and including the Interest Payment Date immediately following the issuance date of such Notes to, but excluding, the next Interest Payment Date), and the subsequent interest periods will be the periods from and including an Interest Payment Date to, but excluding, the next Interest Payment Date or the Stated Maturity, as the case may be; the interest so payable, and punctually paid or duly provided for, on any Interest Payment Date, will be paid to the Person in whose name the Note (or one or more predecessor Notes) is registered at the close of business on the Regular Record Date for such interest, which shall be March 1, June 1, September 1 or December 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Payment of principal of (and premium, if any) and any...

Principal and Interest Payments. Section 2.01 The entire principal amount of this Note together with accrued and unpaid interest thereon will be due and payable on July 30, 2017 (the “Repayment Date”). Section 2.02 The principal and interest on this Note will be payable in the lawful currency of the United States of America by wire transfer or other such immediately available funds and without set-off or counterclaim, free and clear of and without deduction for any present or future taxes, restrictions or conditions of any nature. Section 2.03 All payments under this Note prior to demand or acceleration will be applied first, to any and all costs, expenses or charges then owed by the Company to the Holder, second, to accrued and unpaid interest, and third, to the unpaid principal balance. All payments so received after demand or acceleration will be applied in such manner as the Holder may determine in its sole and absolute discretion. Section 2.04 Whenever any payment on this Note is stated to be due on a day which is not a business day, the payment will be made on the next succeeding business day and the extension of time will be included in the computation of the payment of interest of this Note. Section 2.05 Overdue principal and interest will bear interest at a rate equal to the greater of (i) twenty-five percent (25%) or (ii) the highest rate permitted by applicable law. Overdue principal and interest will be payable on demand. Section 2.06 This Note may be prepaid at any time.

Principal and Interest Payments. (a) Each of the Series A Notes shall bear interest on the Relevant Principal Amount at the interest rate therefor specified in each such Series A Note from time to time outstanding in respect of the period commencing on and including the Commencement Date and ending on the date when the principal amount of such Series A Note shall have been paid in full, payable on each January 2 and July 2 in each year (the "Interest Payment Dates"), commencing the respective dates specified in Schedule 1.4 hereto in the column headed "Interest Payment Commencement Date"; provided, that if the Accreted Value of such Series A Note is not paid when due (upon redemption or acceleration or otherwise) during the Pre-Commencement Date Period, interest on the Accreted Value of such Series A Note as at the date such Accreted Value was not paid shall accrue (and be payable on demand of the Noteholder of record of such Series A Note) at the same interest rate per annum as is specified pursuant to Section 1.4 hereof from such date until such Accreted Value shall have been paid in full; provided, further, that additional interest accrued to any Interest Payment Date as the result of any increase in the interest rate borne by any Series A Note as provided in Section 1.4(b) hereof over what would have accrued or accreted to such date shall be paid in cash to the Noteholders of such Series A Note whether or not the Commencement Date for such Series A Note has occurred; and provided, further, that any other amounts payable to the Indenture Trustee or any Noteholder under this Indenture, any Series A Note or any other Operative Agreement but not paid in full when due (whether at Stated Maturity, by acceleration or otherwise), including any Defaulted Installment and, to the extent permitted by Applicable Law, Defaulted Interest, but excluding unpaid Accreted Value (which shall accrue interest pursuant to the first proviso of this paragraph), shall, for the period from and including the date such amount becomes due and payable until such amount shall have been paid in full, accrue interest at the applicable Late Rate.

Principal and Interest Payments. The Borrower fails to make payment (x) when due of any principal or interest installment on any Note, any unused facility fee, any commitment fee, engineering fee or any other Indebtedness incurred pursuant to this Agreement to the Agent or any Bank, and such failure continues unremedied for a period of three (3) Business Days after the earlier of (i) notice thereof being given by the Agent to the Borrower or (ii) such default otherwise becoming known to the president or chief financial officer of the Borrower or (y) when due of any mandatory prepayment under Subsection 2.4(b) or Subsection 2.4(c).

Principal and Interest Payments. On Payment Dates. Borrower shall repay each Equipment Advance pursuant to the terms set forth in the corresponding Loan Supplement. For each Equipment Advance, Borrower shall make equal monthly payments of principal and interest, in advance, calculated by the Bank based upon: (1) the amount of the Equipment Advance, (2) the Basic Rate, and (3) an amortization schedule equal to the Repayment Period (individually, the "Scheduled Payment", and collectively, "Scheduled Payments"), on the first Business Day of the month following the month in which the Funding Date occurs (or commencing on the Funding Date if the Funding Date is the first Business Day of the month) with respect to such Equipment Advance and continuing thereafter during the Repayment Period on the first Business Day of each successive calendar month (each a "Payment Date"). All unpaid principal and accrued interest is due and payable in full on the last Payment Date with respect to such Equipment Advance. Payments received after 12:00 noon Eastern time are considered received at the opening of business on the next Business Day. An Equipment Advance may only be prepaid in accordance with Sections 2.2(e) and 2.2(g).

Principal and Interest Payments. For each Growth Capital Advance outstanding as of the last day of the Growth Capital Interest-Only Period, Borrower shall make twenty-four (24) consecutive equal monthly payments of principal and accrued but unpaid interest commencing on the first (1st) Business Day of the first (1st) month after the Growth Capital Interest-Only Period (the “Growth Capital Conversion Date”), in amounts that would fully amortize the applicable Growth Capital Advance, as of the Growth Capital Conversion Date, over the Growth Capital Repayment Period. The Growth Capital Final Payment and all unpaid principal and accrued and unpaid interest on each Growth Capital Advance are due and payable in full on the Growth Capital Maturity Date.

Principal and Interest Payments. Borrower fails to pay any amount due hereunder, under the Note (including without limitation principal and interest payments) or any other Loan Document within ten (10) days of the applicable due date; provided, however, no grace period shall be permitted for the final payment of principal and interest due on any applicable maturity date; or