Stated Maturity or Payment in Full Clause Samples

The 'Stated Maturity or Payment in Full' clause defines the point at which an obligation, typically a debt or financial instrument, is considered fully satisfied—either upon reaching its scheduled maturity date or when the full amount owed is paid earlier. In practice, this means that the borrower's responsibilities end once the agreed-upon term concludes or if they repay the entire outstanding balance before that date. This clause ensures clarity regarding when contractual obligations are discharged, preventing disputes over whether further payments or actions are required after the maturity date or upon full payment.
Stated Maturity or Payment in Full. On the earlier to occur of the Stated Maturity and the Payment Date on which the Outstanding Note Balance of all Classes of Notes will be reduced to zero, the Indenture Trustee shall withdraw all amounts on deposit in the General Reserve Account and shall deposit such amounts in the Collection Account for distribution in accordance with Section 3.4 or Section 6.6 hereof, as applicable.
View SourceView Similar (50)
Stated Maturity or Payment in Full. On the Stated Maturity, the Indenture Trustee shall withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account. If, on any Determination Date, the amounts on deposit in the Reserve Account is equal to or greater than the Outstanding Note Balance, all accrued and unpaid interest on the Notes, and any amounts due to the Indenture Trustee, the Servicer, the Backup Servicer and the Custodian pursuant to the Transaction Documents, the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account for distribution on the related Payment Date.
View SourceView Similar (2)
Stated Maturity or Payment in Full. On the earlier to occur of the Stated Maturity and the Payment Date on which the Outstanding Note Balance of the Note will be reduced to zero, or following the expiration or termination of the Reinvestment Period, the Collateral Agent shall withdraw all amounts on deposit in the Reinvestment Account and shall deposit such amounts in the Collection Account for distribution in accordance with Section 3.4 hereof.
View SourceView Similar (2)
Stated Maturity or Payment in Full. Upon the earlier of (1) receipt of a statement furnished by the Manager that no further payments pursuant to Section 2.2(a)(i) will be made or (2) 90 days after the Final Closing Date (or if Timeshare Loans are not sold by the Depositor to the Note Issuer on the Final Closing Date using all of the remaining gross proceeds from the Offering, 90 days after the earlier of the date the Timeshare Loans are sold to the Note Issuer or the Final Loan Date, the Collateral Agent shall withdraw all amounts on deposit in the Fee and Expense Account and shall deposit such amounts in the Collection Account for distribution in accordance with Section 3.4 hereof.
View Source

Related to Stated Maturity or Payment in Full

  • Stated Maturity 10 Subsidiary.....................................................................................10

  • Payment in Full at Maturity On the Maturity Date, the entire outstanding principal balance of all Loans, together with accrued but unpaid interest and all other sums owing under this Credit Agreement, shall be due and payable in full, unless accelerated sooner pursuant to Section 10 hereof.

  • No Payment When Senior Indebtedness in Default (a) In the event and during the continuation of any default in the payment of principal of (or premium, if any) or interest on any Senior Indebtedness beyond any applicable grace period with respect thereto, or in the event that any event of default with respect to any Senior Indebtedness shall have occurred and be continuing and shall have resulted in such Senior Indebtedness becoming or being declared due and payable prior to the date on which it would otherwise have become due and payable, unless and until such event of default shall have been cured or waived or shall have ceased to exist and such acceleration shall have been rescinded or annulled, or (b) in the event any judicial proceeding shall be pending with respect to any such default in payment or event of default, then no payment shall be made by the Company on account of principal of (or premium, if any) or interest on the Securities or on account of the purchase or other acquisition of Securities; provided , however , that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article XII by delivering and crediting pursuant to Section 12.02 Securities which have been acquired (upon redemption or otherwise) prior to such default or which have been converted pursuant to Article XIV. In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Security prohibited by the foregoing provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. The provisions of this Section shall not apply to any payment with respect to which Section 15.02 would be applicable.

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

  • Maturity; Surrender, Etc In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment, together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any. From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.