Example ContractsClausesPayment of Principal and Interest
Payment of Principal and Interest
Payment of Principal and Interest contract clause examples

PAYMENT OF PRINCIPAL AND INTEREST. Subject, in each case, to the Subordination Agreement:

Payment of Principal and Interest. The Company covenants and agrees for the benefit of the Noteholder that it will duly and punctually pay the principal of, and interest on, this Subordinated Note, in accordance with the terms hereof.

Payment of Principal and Interest. All principal and interest on this Note shall be due and payable as follows: # all accrued and unpaid interest shall be due and payable in consecutive quarterly installments commencing on the first business day immediately succeeding each fiscal quarter end for Solutions, to and until the Maturity Date, # TWO MILLION FIVE HUNDRED THOUSAND DOLLARS ($2,500,000.00) of the outstanding principal due under this Note shall be paid on or before April 1, 2023, # TWO MILLION DOLLARS ($2,000,000.00) of the outstanding principal due under this Note shall be paid on or before April 1, 2024, and # the remaining entire unpaid principal balance of and all accrued and unpaid interest on this Note, together with all other amounts due and owing under this Note, shall be due and payable in full on the Maturity Date. Notwithstanding any statement herein to the contrary, for each scheduled quarterly interest payment date the Makers may, at their sole election by prior written notice to the Lender, elect to defer, for up to eighteen (18) months from such date, the payment of up to sixty percent (60%) of the interest to be paid hereunder on such date, but only with respect to the principal amounts due under Sections 2(b) and 2(c). In such event, the aggregate amount of any such deferred interest shall accrue interest thereon until paid at the same per annum rate applicable to the outstanding principal balance hereof as set forth in Section 1 above. In the event the Makers do not provide such prior written notice of interest payment deferment and Makers then proceed to fail to pay the full amount of interest then due and owing, Lender shall have all rights and remedies available to it under this Note and the Security Instruments as a result of such nonpayment. For the avoidance of doubt, the Makers covenant and agree that the interest payment due on January 4, 2022, shall not be eligible for deferment.

PAYMENT OF PRINCIPAL AND INTEREST. Principal and interest shall be payable in accordance with the following provisions:

Payment of Principal and Interest. The Company covenants and agrees for the benefit of Noteholder that it will duly and punctually pay the principal of, and interest on, this Subordinated Note, in accordance with the terms hereof.

Payment of Principal and Interest. (a) On the first day of each month, beginning the next month succeeding the Closing Date, the Payor shall make a monthly payment of principal and interest in the amount of $44,268.65 and # all unpaid principal, together with any then unpaid and accrued interest and other amounts payable hereunder, shall be due and payable on the earlier of: # August 23, 2025 (the “Maturity Date”) and # the acceleration of this Note pursuant to Section 5(b). Any payment on this Note that would otherwise become due and payable on a day that is not a Business Day shall become due and payable on the next succeeding Business Day, with the same force and effect as if made on the date for payment of such principal or interest. In the event that pursuant to the terms of Section 4 hereof, the Payor is prohibited from making any payment hereunder, such payment shall be deferred until such time as the payment is permitted under Section 4.

Payment of Principal and Interest. The Company covenants and agrees for the benefit of the Holder that it will duly and punctually pay the principal of, and interest on, this Subordinated Note, in accordance with the terms hereof.

Payment of Principal and Interest. Borrower shall promptly pay when due the principal of and interest on the indebtedness evidenced by the Note, and late charges as provided in the Note, and shall perform all of Borrower’s other covenants contained in the Note.

Payment of Principal and Interest. All principal and interest on this Note shall be due and payable as follows: # all accrued and unpaid interest shall be due and payable in consecutive quarterly installments commencing on the first business day immediately succeeding each fiscal quarter end for Solutions, to and until the Maturity Date, # TWO MILLION FIVE HUNDRED THOUSAND DOLLARS ($2,500,000.00) of the outstanding principal due under this Note shall be paid on or before April 1, 2021, # TWO MILLION DOLLARS ($2,000,000.00) of the outstanding principal due under this Note shall be paid on or before April 1, 2023, and # the remaining entire unpaid principal balance of and all accrued and unpaid interest on this Note, together with all other amounts due and owing under this Note, shall be due and payable in full on the Maturity Date. Notwithstanding any statement herein to the contrary, on each interest payment date the Makers may, at their sole election by prior written notice to the Lender, elect to defer, for up to eighteen (18) months from such date, the payment of up to sixty percent (60%) of the interest to be paid hereunder on such date, but only with respect to the principal amounts due under Sections 2(b) and 2(c). In such event, the aggregate amount of any such deferred interest shall accrue interest thereon until paid at the same per annum rate applicable to the outstanding principal balance hereof as set forth in Section 1 above. In the event the Makers do not provide such prior written notice of interest payment deferment and Makers then proceed to fail to pay the full amount of interest then due and owing, Lender shall have all rights and remedies available to it under this Note and the Security Instruments as a result of such nonpayment.

PAYMENT OF PRINCIPAL AND INTEREST. Principal and interest shall be payable in accordance with the following provisions:

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