Examples of Quarterly Interest Payment in a sentence
No later than one (1) Business Day prior to a Quarterly Interest Payment Date, Party B, or the Master Issuer Cash Manager acting on its behalf, will notify Party A of the amount of (a) any principal payments to be made on the Relevant Notes on such Quarterly Interest Payment Date and (b) any interest payments otherwise due to be made on such Quarterly Interest Payment Date that will be deferred in accordance with the terms and conditions of the Relevant Notes.
If any payment of interest under the Relevant Notes is deferred in accordance with the terms and conditions of the Relevant Notes, a corresponding part as determined by the Calculation Agent of the Party A Floating Amount and a pro rata part as determined by the Calculation Agent of the Party B Floating Amount which, in each case, would otherwise be due in respect of the relevant Quarterly Interest Payment Date will be deferred.
The Calculation Agent will calculate the Floating Rate with respect to each Floating Rate Period and the amount of Interest payable on each Quarterly Interest Payment Date as promptly as practicable according to the appropriate method described herein.
If any payment of interest under the Series 2 Class C Seventh Issuer Notes is deferred in accordance with the terms and conditions of the Series 2 Class C Seventh Issuer Notes, a corresponding part as determined by the Calculation Agent of the Party A Floating Amount and a pro rata part as determined by the Calculation Agent of the Party B Floating Amount which, in each case, would otherwise be due in respect of the relevant Quarterly Interest Payment Date will be deferred.
If any Quarterly Interest Payment Date is not a Business Day, the Quarterly Interest Payment Date shall be postponed to the following Business Day unless such Business Day would fall in the next calendar month, in which case the Quarterly Interest Payment Date shall be the preceding Business Day.
The cash management fee referred to in Clause 8.1 shall be paid to the Master Issuer Cash Manager in arrear on each Quarterly Interest Payment Date in the manner contemplated by and in accordance with the provisions of the Master Issuer Pre-Enforcement Revenue Priority of Payments or, as the case may be, the Master Issuer Post-Enforcement Priority of Payments.
However, if any Quarterly Interest Payment Date falls on a date fixed for early redemption, or other redemption or repayment, and such day is not a Business Day, the interest payment due on that date shall be postponed to the next day that is a Business Day and no interest shall accrue as a result of that postponement.
Any conversion of interest due and owing under this Note pursuant to Section 6(a) in excess of any amount required to be paid on the next Interest Payment Date shall be credited and applied against the next Quarterly Interest Payment or such other specified Quarterly Interest Payment, in each case, as designated by the Holder.
If any payment of interest under the Series 2 Class B Seventh Issuer Notes is deferred in accordance with the terms and conditions of the Series 2 Class B Seventh Issuer Notes, a corresponding part as determined by the Calculation Agent of the Party A Floating Amount and a pro rata part as determined by the Calculation Agent of the Party B Floating Amount which, in each case, would otherwise be due in respect of the relevant Quarterly Interest Payment Date will be deferred.
Interest in respect of the Outstanding Amount shall be due and payable by way of a Quarterly Interest Payment on each and every Interest Payment Date during which the Outstanding Amount remains outstanding, on the Maturity Date and on each Repayment Date, as applicable.