Example ContractsClausesInterest; Monthly Payments
Remove:

Interest; Monthly Payments. The outstanding principal sum of this Promissory Note shall bear interest at six percent (6.00 %) per annum commencing May 1, 2017. Maker shall repay this Note in six (6) equal monthly installments of principal and interest then accrued, commencing on May 1, 2017.

/

Monthly Payments. USPB shall pay CEO an additional month's salary in an amount equal to the annual salary under [Section 3(a)] [Annual Salary] that would be paid to CEO under this Agreement if CEO was employed or CEO's annual salary at the time of termination, whichever is greater, divided by twelve (12), which payments shall be paid at normal salary payment intervals in effect for USPB's management personnel; and

/

Interest only on the unpaid principal balance at the Regular Rate shall be due and payable in advance on the date funds are disbursed hereunder in an amount equal to interest accrued from and including the date of disbursement hereunder to the last day of April, 2018.

Monthly. After the end of each month of each fiscal year of Regional, and in any event within 30 days after the end of such period, # balance sheets and # statements of income of Regional and its Subsidiaries, prepared on a consolidating basis including Special Purpose Subsidiary; together with:

Interest Payments. Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

/

Interest Payments. Notwithstanding the definition of "Interest Payment Date" as set forth in the Credit Agreement and Section 2.4 of the Credit Agreement, during the Forbearance Period, Loan Parties agree that # the Interest Payment Date for each Eurodollar Loan will be the last day of each Interest Period with respect to such Eurodollar Loan and on the maturity date, and (y)(i) all interest accrued on the Eurodollar Loans otherwise payable on the Interest Payment Dates occurring during the Forbearance Period will be paid in kind and added to the outstanding principal balance of the Term Loans on such date, # all interest accrued on the Base Rate Loans otherwise payable on September 30, 2017 will be deemed to have been paid in kind and added to the outstanding principal balance of the Term Loans on such date, # all interest accrued on the Base Rate Loans otherwise payable on December 31, 2017 will be paid in kind and added to the outstanding principal balance of the Term Loans on such date, # all interest accrued on the Canadian Prime Rate Loans otherwise payable on September 30, 2017 will be deemed to have been paid in kind and added to the outstanding principal balance of the Term Loans on such date and # all interest accrued on the Canadian Prime Rate Loans otherwise payable on December 31, 2017 will be paid in kind and added to the outstanding principal balance of the Term Loans on such date. Amounts which have been added to the outstanding principal balance of the Term Loans pursuant to the foregoing subclause # shall thereafter bear interest in accordance with Section 2.4 and otherwise be treated as part of the outstanding principal balance of the Term Loans for all purposes under the Credit Agreement and the other Loan Documents.

Monthly Redeterminations. Based on the monthly reports of accounts receivable to be provided by Borrower, the Borrowing Base will be redetermined monthly. In the event the principal balance owing on Borrower’s line of credit note exceeds the Borrowing Base as such is redetermined, then Borrower will make such payment on the note as is necessary to reduce the principal balance to an amount equal to or less than the redetermined Borrowing Base, such payment to be made within five (5) days of the furnishing of the monthly listings report from which the Borrowing Base was redetermined.

Monthly Compensation. For any month, the monthly retainer and the aggregate of all meeting fees, committee fees and committee chairperson fees to which a Director is entitled for services rendered to the Company as a Director during the month, as established from time to time by resolution of the Board of Directors. For avoidance of doubt, Monthly Compensation does not include stock options granted to Directors or the Shares allocated pursuant to Section 6 of this Plan.

Time and Amount of Payments. The Borrower shall make monthly payments of principal and interest as follows:

Payments. On the first day of each month beginning on January 1, 2022, Borrower shall make monthly payments of accrued interest only through June 30, 2023. Commencing July 1, 2023, Borrower shall make monthly payments of Thirty Thousand and 00/100 Dollars ($30,000.00) in unpaid principal plus accrued and unpaid interest. All unpaid principal, accrued interest, fees and costs shall be fully due and payable on the Maturity Date.

Load more...
Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.