Capitalized Interest Period Clause Samples

Capitalized Interest Period. No payment of the principal of or interest on the TIFIA Loan is required to be made during the Capitalized Interest Period. On each May 1 and November 1 occurring during the Capitalized Interest Period (and on the Semi-Annual Payment Date immediately following the end of the Capitalized Interest Period), interest accrued on the TIFIA Loan in the six (6)-month period ending immediately prior to such date shall be capitalized and added to the Outstanding TIFIA Loan Balance. Within thirty (30) days after the end of the Capitalized Interest Period, the TIFIA Lender shall give written notice to the Borrower stating the Outstanding TIFIA Loan Balance as of the close of business on the last day of the Capitalized Interest Period, which statement thereof shall be deemed conclusive absent manifest error; provided, however, that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder or under any of the other TIFIA Loan Documents.‌

Capitalized Interest Period. (a) Except as provided in Section 3.2(b), no payment of the principal of or interest on the Loan is required to be made during the Capitalized Interest Period. Interest accrued on the Loan in each full calendar month occurring during the Capitalized Interest Period shall be capitalized and added to the outstanding principal balance of the Loan on the next calendar day immediately following such full calendar month. Interest accrued on the Loan for any partial calendar month during the Capitalized Interest Period shall be capitalized and added to the outstanding principal balance of the Loan on the earlier of (i) the next calendar day immediately following such partial calendar month or (ii) the next calendar day immediately following the last day of the Capitalized Interest Period. Within 30 days after the end of the Capitalized Interest Period, the Lender shall give written notice to the Borrower stating the outstanding principal balance of the Loan as of the close of business on the last day of the Capitalized Interest Period; provided that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder or under any other Loan Document. (b) Notwithstanding anything in Section 3.2(a) or any other provision of the Loan Documents to the contrary, if, and to the extent that, the capitalization of additional interest during the Capitalized Interest Period would cause the principal amount of the Loan (including interest capitalized theretofore and such additional interest to be capitalized) to exceed the maximum amount set forth in Section 2.1, (i) such additional interest (in excess of such maximum amount) shall not be capitalized and (ii) for the remainder of the Capitalized Interest Period, the Borrower shall pay to the Lender the amount of such additional interest accruing monthly that could not be capitalized. Such payments shall be made monthly on the same day on which such additional interest would have been capitalized pursuant to Section 3.2(a) (or if such day is not a Business Day, then on the next occurring Business Day). The Lender shall give written notice to the Borrower stating the amount of each monthly payment at least five Business Days before the payment is due; provided that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder or under any other Loan Document.

Capitalized Interest Period. During the Capitalized Interest ----------------------------- Period, interest shall accrue on all principal amounts outstanding under the Note at the Interest Rate, and up to an aggregate of the maximum amount of Capitalized Interest set forth on Schedule 2.02 hereto of such interest shall be ------------- capitalized, in arrears, and added to the principal amount of the Note by Lender, on behalf of Borrower, on the first day of each calendar month, thereby increasing the principal amount of the Note. The Lender may also evidence such increase by noting the date and amount of each such addition on a schedule to the Note. Interest accruing during the Capitalized Interest Period in excess of the maximum aggregate amount of Capitalized Interest set forth on Schedule 2.02 ------------- hereto shall be paid by Borrower quarterly in arrears, on the last Business Day of the Calendar Quarter in which such limit is exceeded.

Capitalized Interest Period. No payment of the principal of or interest on the WIFIA Credit Facility is required to be made during the Capitalized Interest Period. On each Payment Date occurring during the Capitalized Interest Period, and on the day immediately following the end of the Capitalized Interest Period, interest accrued on the WIFIA Credit Facility in the six (6) month period ending immediately prior to such date (or such shorter period if the Capitalized Interest Period ends other than on a March 31 or September 30) shall be capitalized and added to the Outstanding WIFIA Credit Balance. Within thirty (30) days after the end of the

Capitalized Interest Period. The period of six full calendar months following the First Borrowing Date. During the Capitalized Interest Period, interest shall accrue on all principal amounts outstanding under the Note at the Interest Rate, and up to an aggregate of the maximum amount of Capitalized Interest shall be capitalized, monthly in arrears, and added to the principal amount of the Note by Lender, on behalf of Borrower, on the first day of each calendar month, thereby increasing the principal amount of the Note. The Lender may also evidence such increase by noting the date and amount of each such addition on a schedule to the Note. Interest accruing during the Capitalized Interest hereto shall be paid by Borrower monthly in arrears, on the first day of each calendar month, commencing on the first day of the month after the month in which such limit is exceeded.

Capitalized Interest Period. No payment of the principal of or interest on the WIFIA Credit Facility is required to be made during the Capitalized Interest Period. On each Payment Date occurring during the Capitalized Interest Period, and on the day immediately following the end of the Capitalized Interest Period, interest accrued on the WIFIA Credit Facility in the six (6) month period ending immediately prior to such date (or such shorter period if the Capitalized Interest Period ends other than on a March 31 or September 30) shall be capitalized and added to the Outstanding WIFIA Credit Balance. Within thirty (30) days after the end of the Capitalized Interest Period, the WIFIA Credit Provider shall give written notice to the Borrower stating the Outstanding WIFIA Credit Balance as of the close of business on the last day of the Capitalized Interest Period, which statement thereof shall be deemed conclusive absent manifest error; provided that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder or under any of the other WIFIA Credit Documents. Notwithstanding the foregoing, the Capitalized Interest Period shall end immediately upon written notification to the Borrower from the WIFIA Credit Provider that an Event of Default has occurred, in which case the provisions of this Section 8(b) shall no longer apply and payments of principal and interest shall be currently due and payable in accordance with the terms hereof and interest shall no longer be capitalized. For purposes of this Section 8(b), an Event of Default under Section 17(a)(v) (

Capitalized Interest Period. No payment of the principal of or interest on the TIFIA Loan is required to be made during the Capitalized Interest Period. On each May 1 and November 1 occurring during the Capitalized Interest Period, interest accrued on the TIFIA Loan in the six (6)-month period ending immediately prior to such date shall be capitalized and added to the Outstanding TIFIA Loan Balance. Within thirty (30) days after the end of the Capitalized Interest Period, the TIFIA Lender shall give written notice to the Borrower stating NYDOCS02/1164724.10 10 Lynnwood Link Extension and O&M Facility East Loan Agreement the Outstanding TIFIA Loan Balance as of the close of business on the last day of the Capitalized Interest Period, which statement thereof shall be deemed conclusive absent manifest error; provided, however, that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder or under any of the other TIFIA Loan Documents.

Capitalized Interest Period. No payment of the principal of or interest on the RRIF Loan is required to be made during the Capitalized Interest Period. On each May 1 and November 1 occurring during the Capitalized Interest Period (and on the Semi-Annual Payment Date immediately following the end of the Capitalized Interest Period), interest accrued on the RRIF Loan in the six (6)-month period ending immediately prior to such date shall be capitalized and added to the Outstanding RRIF Loan Balance. Within thirty (30) days after the end of the Capitalized Interest Period, the RRIF Lender shall give written notice to the Borrower stating the Outstanding RRIF Loan Balance as of the close of business on the last day of the Capitalized Interest Period, which statement thereof shall be deemed conclusive absent manifest error; provided that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder or under any of the other RRIF Loan Documents.‌