Common use of Repayment of Principal and Interest Clause in Contracts

Repayment of Principal and Interest. (i) Subject to (i) the Loan extension provisions of Section 2.1.6, (ii) the mandatory prepayment provisions of Section 2.3.3(i) and (iii) any earlier acceleration of the Loan following an Event of Default, the Principal Amount, all unpaid accrued interest, all interest that would accrue on the Principal Amount through and including the Maturity Date, and all other fees and sums then payable hereunder or under the Loan Documents (collectively, the Maturity Date Payment), shall be due and payable in full on the Maturity Date. Principal amounts of the Loan that are repaid or prepaid by Borrower may be not be reborrowed. (ii) All amounts advanced by Lenders pursuant to the Loan Documents, other than the Principal Amount, or other charges provided in the Loan Documents, shall be due and payable as provided in the Loan Documents. In the event any such advance or charge is not so repaid by Borrower, Administrative Agent may, at its option, first apply any payments received under the Note to repay such advances, together with any interest thereon, or other charges as provided in the Loan Documents, and the balance, if any, shall be applied in payment of any installment of interest or principal then due and payable.

Appears in 1 contract

Sources: Loan and Security Agreement (Strategic Hotels & Resorts, Inc)

Repayment of Principal and Interest. (ia) Subject to (i) the The entire outstanding principal balance of each Loan extension provisions of Section 2.1.6, (ii) the mandatory prepayment provisions of Section 2.3.3(i) and (iii) any earlier acceleration of the Loan following an Event of Default, the Principal Amount, all unpaid accrued interest, all interest that would accrue on the Principal Amount through and including the Maturity Date, and all other fees and sums then payable hereunder or under the Loan Documents (collectively, the Maturity Date Payment), shall be due and payable in full by no later than 5:00 p.m. (Eastern Time) on the Maturity DateBusiness Day on which repayment of such Loan is demanded by the Lender, together with all remaining accrued and unpaid interest thereon, unless an extension of no more than three additional days is authorized by the Lender. Principal amounts Notwithstanding any terms in this Agreement to the contrary, the enumeration in this Agreement of specific obligations of Borrower to Lender and/or conditions to the availability of funds under this Agreement shall not be construed to qualify, define, or otherwise limit Lender’s right, power or ability, at any time and for any reason, under applicable law, to require full payment of the Loan that are repaid or prepaid by Borrower may be not be reborrowedLoans and all accrued and unpaid interest and all other amounts payable under this Agreement ON DEMAND. (iib) All amounts advanced by Lenders pursuant to Interest, at the Loan Documents, other than the Principal Amount, or other charges provided in the Loan Documentsapplicable rate for each Loan, shall be due payable ON DEMAND. In addition, ▇▇▇▇▇▇▇▇ shall pay all accrued interest on the last business day of each Interest Period. (c) Any of the Loans may be prepaid in whole or in part at any time without premium or penalty. Any such prepayment made on any Loan shall be applied, first, to interest accrued thereon through the date thereof and payable as provided then to the principal balance thereof. (d) Each payment and prepayment of principal of any Loan and each payment of interest on any Loan shall be made to the Lender and applied to outstanding Loan balances in the Loan Documents. In order specified by the event any such advance or charge is not so repaid by Borrower, Administrative Agent may, at its option, first apply any payments received under the Note to repay such advances, together with any interest thereon, or other charges as provided Borrower (in the Loan Documents, case of voluntary payment) and in the balance, if any, shall be applied order specified by the Lender (in the case of payment of any installment of interest or principal then due and payableafter demand by the Lender).

Appears in 1 contract

Sources: Reciprocal Demand Loan Agreement (Gainbridge Life Insurance Co)

Repayment of Principal and Interest. (i) Subject to (i) the Loan extension provisions of Section 2.1.6, (ii) the mandatory prepayment provisions of Section 2.3.3(i), (ii) the Loan extension provisions of Section 2.1.6 below, and (iii) any earlier acceleration of the Loan following an Event of Default, the Principal Amount, all unpaid accrued interest, all interest that would accrue on the Principal Amount through and including the Maturity Date, and all other fees and sums then payable hereunder or under the Loan Documents Documents, including, without limitation the Prepayment Premium, if applicable (collectively, the Maturity Date Payment), shall be due and payable in full on the Maturity Date. Principal amounts of the Loan that are repaid or prepaid by Borrower may be not be reborrowed. (ii) All amounts advanced by Lenders pursuant to the Loan Documents, other than the Principal Amount, or and other charges provided in the Loan Documents, shall be due and payable as provided in the Loan Documents. In the event any such advance or charge is not so repaid by Borrower, Administrative Agent may, at its option, first apply any payments received under the Note Notes to repay such advances, together with any interest thereon, or other charges as provided in the Loan Documents, together with any interest thereon, and the balance, if any, shall be applied in payment of any installment of interest or principal then due and payable.

Appears in 1 contract

Sources: Loan and Security Agreement (Morgans Hotel Group Co.)

Repayment of Principal and Interest. (i) Subject to (i) mandatory prepayment provisions of Section 2.3.3(i), (ii) the Loan extension provisions of Section 2.1.62.1.6 below, (ii) the mandatory prepayment provisions of Section 2.3.3(i) and (iii) any earlier acceleration of the Loan following an Event of Default, the Principal Amount, all unpaid accrued interest, all interest that would accrue on the Principal Amount through and including the Maturity Date, and all other fees and sums then payable hereunder or under the Loan Documents Documents, including, without limitation the Prepayment Premium, if applicable (collectively, the Maturity Date Payment), shall be due and payable in full on the Maturity Date. Principal amounts of the Loan that are repaid or prepaid by the Borrower may be not be reborrowed. (ii) All amounts advanced by Lenders pursuant to the Loan Documents, other than the Principal Amount, or other charges provided in the Loan Documents, shall be due and payable as provided in the Loan Documents. In the event any such advance or charge is not so repaid by Borrower, Administrative Agent may, at its option, first apply any payments received under the Note to repay such advances, together with any interest thereon, or other charges as provided in the Loan Documents, and the balance, if any, shall be applied in payment of any installment of interest or principal then due and payable.

Appears in 1 contract

Sources: Loan and Security Agreement (Strategic Hotels & Resorts, Inc)

Repayment of Principal and Interest. (i) Subject to (i) mandatory prepayment provisions of Section 2.3.3(i), (ii) the Loan extension provisions of Section 2.1.62.1.6 below, (ii) the mandatory prepayment provisions of Section 2.3.3(i) and (iii) any earlier acceleration of the Loan following an Event of Default, the Principal Amount, all unpaid accrued interest, all interest that would accrue on the Principal Amount through and including the Maturity Date, and all other fees and sums then payable hereunder or under the Loan Documents Documents, including, without limitation the Prepayment Fee, if applicable (collectively, the Maturity Date Payment), shall be due and payable in full on the Maturity Date. Principal amounts of the Loan that are repaid or prepaid by the Borrower may be not be reborrowed. (ii) All amounts advanced by Lenders pursuant to the Loan Documents, other than the Principal Amount, or other charges provided in the Loan Documents, shall be due and payable as provided in the Loan Documents. In the event any such advance or charge is not so repaid by Borrower, Administrative Agent may, at its option, first apply any payments received under the Note to repay such advances, together with any interest thereon, or other charges as provided in the Loan Documents, and the balance, if any, shall be applied in payment of any installment of interest or principal then due and payable.

Appears in 1 contract

Sources: Loan and Security Agreement (Strategic Hotels & Resorts, Inc)