Common use of Acquisition Property Payment Clause in Contracts

Acquisition Property Payment. (a) Interest. [Text in (i) and (ii) may change, depending on the bank commitment letter] (i) During the Initial Period, interest shall accrue on the Outstanding IP Principal Amount at the Initial Period Rate, which shall be determined, and fixed, on the AT Closing Date. (ii) During the Second Period, interest shall accrue on the Outstanding IP Principal Amount at the Second Period Rate. As reflected in the definition thereof, the Second Period Rate shall be adjusted on the SP Rate Change Date. (iii) During the Payment Period, interest shall accrue on the basis of a 360-day year based on the number of actual days elapsed.