Repayment of Principal definition

Repayment of Principal. The principal of the Term Loan shall be payable on May 5, 2004. Interest: The Term Loan shall bear interest at a rate per annum (based on a 360-day year of (A) the Prime Rate of the Lender as publicly announced from time to time (the "Alternate Base Rate" or "ABR") plus (B) 1.00% per annum. Changes in the Prime Rate will be effective concurrently with the announcement thereof. The Prime Rate of the Lender is not intended to be the lowest rate it charges its borrowers for loans. The interest on the Term Loan shall be payable until due (whether as scheduled or by acceleration) quarterly in arrears on the last day of each March, June, September and December (each a "Payment Date") commencing December 31, 2002 and thereafter from time to time upon demand, and upon payment in full. At the reasonable request of the Lender at any time and from time to time, the Borrower agrees, at the Borrower's expense (including the cost of any debit and transfer), to promptly take any necessary action to allow quarterly interest payments to be automatically debited from an account of the Borrower at a financial institution and wired to the Lender. Term Note: The Term Loan will be evidenced by a promissory note in the form attached hereto as Exhibit A. (the "Term Note").
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Repayment of Principal. The principal of the Term Loan shall be payable on May 5, 2004. Interest: The Term Loan shall bear interest at a rate per annum (based on a 360-day year for Loans in excess of $25,000 and a 365-day year for Loans less than or equal to $25,000) equal to the sum of (A) the highest of (i) the Prime Rate of the Lender as publicly announced from time to time, (ii) the Federal Funds Effective Rate plus .50% per annum and (iii) the Base CD Rate plus 1.00% per annum (the "Alternate Base Rate" or "ABR") plus (B) 1.00% per annum. Changes in the Prime Rate, the Federal Funds Effective Rate and the Base CD Rate will be effective concurrently with the announcement thereof. The Prime Rate of the Lender is not intended to be the lowest rate it charges its borrowers for loans. The interest on the Term Loan shall be payable until due (whether as scheduled or by acceleration) quarterly in arrears on the last day of each March, June, September and December (each a "Payment Date") commencing March 31, 2000 and thereafter from time to time upon demand, and upon payment in full. At the reasonable request of the Lender at any time and from time to time, the Borrower agrees, at the Borrower's expense (including the cost of any debit and transfer), to promptly take any necessary action to allow quarterly interest payments to be automatically debited from an account of the Borrower at a financial institution and wired to the Lender. Term Note: The Term Loan will be evidenced by a promissory note in the form attached hereto as Exhibit A if such Term Loan is in an amount in excess of $25,000 and in the form attached hereto as Exhibit B if such Term Loan is in an amount less than or equal $25,000 (the "Term Note"). Optional Prepayment: The Borrower, at his option, may from time to time prepay the principal due on the Term Loan, in whole or in part, without premium or penalty, with written notice to the Lender received one Business Day prior to such prepayment specifying the amount of prepayment. Partial prepayments of principal shall be in whole multiples of $1,000, but in no event less than $5,000. as scheduled or by acceleration) quarterly in arrears on the last day of each March, June, September
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Repayment of Principal. The Trustee will pay the principal amount of each Note at Maturity or upon redemption, together with accrued interest due. The Trustee will mark the Note "paid" and send it directly to the Accounting Services Department of Ford Credit with an appropriate debit advice.
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Examples of Repayment of Principal in a sentence

  • Repayment of Principal of the Loan..........................................................

  • Repayment of Principal due and payable under this loan agreement.

  • Repayment of Principal due and payable under this loan agreement or under any other.

  • The Borrower applies to the Administration of Exchange Control for opening the "Special Account for the Foreign Exchange On-lending Loan" and the "Account for Repayment of Principal with Interest of Foreign Exchange On-lending Loan" in the Lender's International Business Department .

  • The Borrower shall deposit in time a full amount in the "Account for the Repayment of Principal with Interest of Foreign Exchange On-lending" and be ready for payment in foreign exchange.

  • Detailed interest payment plan as well as the method of payment shall be carried out in accordance with the "Schedule for Repayment of Principal with interest" (Appendix 3), and "Special Fund Accord" (Appendix 1).

  • Upon a request by the Company in the form of Exhibit E hereto, Lender may, in its sole and absolute discretion, advance additional Loan amounts requested by the Company, whereupon Lender shall annotate the Table of Advances and Repayment of Principal attached to the Note to record such Loan advance, thereby increasing the Loan and the then outstanding principal balance owed under the Note by the amount of such advance.

  • Subject to the stipulations of Article 3 (Payment of Interest – Repayment of Principal) any prepayment of a principal amount must be accompanied by the payment of the accrued interest on the principal amount repaid up to the value date of this prepayment.

  • The Term Note is amended by inserting the following provision at the end of the second sentence of the section entitled Repayment of Principal and Payment of Interest: , provided, the Income Recapture Payment due in calendar year 1997 shall be due and payable on August 6, 1997.

  • Syndicated Notes; Repayment of Principal................................


More Definitions of Repayment of Principal

Repayment of Principal. The principal of the Term Loan shall be payable on May 5, 2004. Interest: The Term Loan shall bear interest at a rate per annum (based on a 360-day year for Loans in excess of $25,000 and a 365-day year for Loans less than or equal to QuickLinks
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Repayment of Principal and Interest on Refinancing Loan. The first payment on the funds advanced under the Refinancing Loan shall be due and payable on February 1, 1998 (the "First Interest Only Payment Date") and shall be a payment of interest only, but not principal, such payment to be the amount of interest accrued from the date on which the Refinancing Loan is first funded until the First Interest Only Payment Date. The next thirteen (13) payments on the Refinancing Loan shall be made on the first Business Day of each of the thirteen (13) calendar months following the First Interest Only Payment Date and shall be a payment of accrued interest only and not principal. (The date on which the last of such payments is due will be hereinafter referred to as the "Last Interest Only Payment Date.") The principal amount of and the interest accrued on the Refinancing Loan shall then be repaid in thirty-four (34) monthly installments, each payment (other than the final payment) equal to an amount set forth in a schedule to be provided to Borrowers, sufficient to amortize the principal amount of the Loan over forty-eight (48) months. Such payments will be due in arrears on the first day of each month, beginning April 1, 1999, unless such day is not a Business Day, in which event payment shall be due on the first Business Day thereafter, with the final payment of interest and all outstanding principal due on January 1, 2002. All unpaid principal and accrued and unpaid interest shall be due and payable on the Final Payment Date.
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Repayment of Principal. The principal owed under each Loan to be granted by the Bank in accordance with this Agreement shall be repaid by the Debtor in five annual and successive installments for the amounts and on the dates to be indicated below: Installment number 1 for an amount equivalent to 14.28% of the Loan expressed in Unidades de Fomento maturing on May 31, 2024; installment number 2 for an amount equivalent to 14.28% of the Loan expressed in Unidades de Fomento maturing on May 30, 2025; installment number 3 for an amount equivalent to 14.28% of the Loan stated in Unidades de Fomento maturing on May 29, 2026; installment number 4 for an amount equivalent to 14.28% of the Loan expressed in Unidades de Fomento maturing on May 31, 2027; installment number 5 for an amount equivalent to 42.88% of the Loan expressed in Unidades de Fomento maturing on May 31, 2028, hereinafter also referred to as the “Maturity Date”.” Four.- SCOTIABANK CHILE and the Debtor hereby agree to replace, as of this date, letter A of the Fifth Clause, as follows:
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Repayment of Principal. On Demand. PRICING: CAD Loans: First Chicago NBD Bank, Canada Prime, floating. USD Loans: First Chicago NBD Bank, Canada U.S. Prime Rate, floating.
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Related to Repayment of Principal

  • Fourth Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance, the Class C Note Balance and the Class D Note Balance as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal for such Payment Date; provided, however, that the Fourth Allocation of Principal on and after the Final Scheduled Payment Date for the Class D Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class D Notes to zero (after the application of the First Allocation of Principal, the Second Allocation of Principal and the Third Allocation of Principal).

  • Regular Allocation of Principal means, with respect to any Payment Date, an amount not less than zero equal to (1) the excess, if any, of (a) the Note Balance of the Notes as of such Payment Date (before giving effect to any principal payments made on the Notes on such Payment Date) over (b) (i) the Pool Balance as of the end of the related Collection Period less (ii) the Targeted Overcollateralization Amount minus (2) the sum of the First Allocation of Principal, the Second Allocation of Principal, the Third Allocation of Principal, the Fourth Allocation of Principal and the Fifth Allocation of Principal for such Payment Date.

  • First Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period; provided, however, that the First Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero.

  • Third Allocation of Principal means, with respect to any Payment Date, an amount equal to (1) the excess, if any, of (a) the sum of the Class A Note Balance, the Class B Note Balance and the Class C Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes, the Class B Notes and the Class C Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period minus (2) the sum of the First Allocation of Principal and the Second Allocation of Principal for such Payment Date; provided, however, that the Third Allocation of Principal on and after the Final Scheduled Payment Date for the Class C Notes shall not be less than the amount that is necessary to reduce the outstanding principal amount of the Class C Notes to zero (after the application of the First Allocation of Principal and the Second Allocation of Principal).

  • Payments of Principal and Interest Payments of Principal and Interest. Promptly after each Regular Record Date, the Trustee will deliver to the Company and DTC a written notice specifying by CUSIP number the amount of interest, if any, to be paid on each Global Note on the following Interest Payment Date (other than an Interest Payment Date coinciding with a Maturity Date) and the total of such amounts. DTC will confirm the amount payable on each Global Note on such Interest Payment Date by reference to the daily bond reports published by Standard & Poor's. On such Interest Payment Date, the Company will pay to the Trustee, and the Trustee in turn will pay to DTC, such total amount of interest due (other than on the Maturity Date), at the times and in the manner set forth below under "Manner of Payment". If any Interest Payment Date for any Note is not a Business Day, the payment due on such day shall be made on the next succeeding Business Day and no interest shall accrue on such payment for the period from and after such Interest Payment Date.