How is Monthly Amortization Payment defined in a legal contract?
- Monthly Amortization Payment means the repayment of the principal of the term loans calculated by dividing the outstanding principal amount by the number of remaining months until the maturity date. This value is computed by the borrower and given to the lender for review before the first installment and after any adjustment of the term loans. Seen in 6 SEC filings.
- Monthly Amortization Payment means a principal and interest payment calculated every Monthly Amortization Payment Date. The calculation is based on the outstanding principal balance of the loan, an annual rate equivalent to the interest rate, and a 30-year amortization period. This value can be determined solely by the lender. Seen in 2 SEC filings.
- Monthly Amortization Payment means a monthly principal repayment computed at the closing date. This is based on an amortization schedule for a loan equalling the original principal balance of the loan, over a 30-year period, and with an annual interest rate equal to 6.75%. Seen in 2 SEC filings.
- Monthly Amortization Payment means the lesser amount when considering; the outstanding principal balance of an Inventory Loan Tranche at the start of the calendar month immediately before the 25th monthly payment date after the related advance was made divided by 60, and the outstanding principal balance of such Inventory Loan Tranche. Seen in 1 SEC filing.
Note: Definitions from further SEC filings have been omitted as they state that the term 'Monthly Amortization Payment' holds the meaning described in another document, thus making the definition non-tranferrable globally.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
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Which definition should you use?
🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Monthly Amortization Payment means the calculated repayment of outstanding loan principal over a certain period, taking into account the applicable interest rate.
Relevant Contract Types
Relevant Circumstances
- A company taking a business loan from a financial institution
- A customer applying for a mortgage
- An individual seeking an installment plan for a personal loan
- A business renting equipment via lease agreement
Relevant Sectors
Genie Definition 2
Monthly Amortization Payment means the lesser repayment amount of an inventory loan tranche at the start of the calendar month before the 25th payment.
Relevant Contract Types
Relevant Circumstances
- A retail business securing inventory financing for operations
- A manufacturing company using supply chain financing for production costs
Relevant Sectors
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Monthly Amortization Payment means the calculated repayment of outstanding loan principal over a certain period, taking into account the applicable interest rate
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