Effective Maturity Date definition
Examples of Effective Maturity Date in a sentence
The Borrower may, by written request to the Agent and the Lenders given not later than one hundred eighty (180) days prior to the Maturity Date then in effect (the “Effective Maturity Date”) request (an “Extension Request”) that such Effective Maturity Date be extended to a date which is twenty-four (24) months after such Effective Maturity Date.
Interest on the outstanding principal balance of each Component of the Loan shall accrue from the Closing Date up to but excluding the Effective Maturity Date at the Initial Interest Rate.
Lender shall have the right to exercise Borrower’s approval rights, if any, with respect to each Annual Budget covering any period of time after the Effective Maturity Date or after the occurrence of an Event of Default.
Borrower shall make a payment to Lender of principal and interest in the amount of the Monthly Debt Service Payment Amount on the Debt Service Payment Date occurring in September, 1999 and on each Debt Service Payment Date thereafter to and including the Effective Maturity Date.
All Leases to which Borrower is a party and all renewals, amendments and modifications thereof executed after the Effective Maturity Date shall be subject to Lender’s prior approval, except with respect to Leases that have been assigned to the Hotel Lessees.