Common use of Scheduled Repayment Clause in Contracts

Scheduled Repayment. The Borrower will repay a portion of the Accounts Receivable at the end of each calendar year in an amount equal to the Scheduled Repayment Amount. The Scheduled Repayment Amount will be equal to the Repayment Schedule Percentage, as defined below, times the Accounts Receivable, as described in Paragraph 1 above, as of the Effective Date of this Agreement. The Repayment Schedule Percentage at the end of each calendar year is defined below: Calendar Year Repayment Schedule Percentage ------------- ----------------------------- 1994 20% 1995 20% 1996 20% 1997 20% 1998 20%