Common use of Capitalized Interest Period Clause in Contracts

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. (a) Except as provided in Section 3.2(b), no No payment of the principal of or interest on the Loan any Installment Payment is required to be made during the Capitalized Interest Period. Interest accrued on the Loan in On each full calendar month May 1 and November 1 occurring during the Capitalized Interest Period Period, interest accrued on the Outstanding Balance (and the corresponding unpaid Principal Components of the Installment Payments) in the six (6) month period ending immediately prior to such date shall be capitalized and added to the outstanding principal balance Outstanding Balance (and the corresponding unpaid Principal Components of the Loan Installment Payments). Interest on Capitalized Interest shall commence accruing at the WIFIA Interest Rate on the next calendar day immediately following date such full calendar month. Capitalized Interest accrued on is added to the Loan for any partial calendar month unpaid Principal Components of the Installment Payments during the Capitalized Interest Period shall be capitalized pursuant to this Section 8(c) (and added the corresponding Section 4.4(c) (Installment Payments – Initial Installment Payment Schedule; Adjustments to the outstanding principal balance Installment Payment Schedule) 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 PeriodISA). Within 30 thirty (30) days after the end of the Capitalized Interest Period, it is anticipated that the Lender WIFIA Credit Provider shall give written notice to the Borrower City stating the outstanding principal balance unpaid Principal Components of the Loan Installment Payments, which aggregate amount shall be equal to the Outstanding Balance, in either case, 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 provided, however, that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder City under this Agreement, the ISA or under any other Loan Document. (b) Notwithstanding anything in Section 3.2(a) or any other provision of the Loan Documents to other WIFIA Credit Documents. Notwithstanding the contraryforegoing, if, and to the extent that, the capitalization of additional interest during the Capitalized Interest Period would cause shall end immediately upon written notification to the principal amount City by the WIFIA Credit Provider that an Event of Default has occurred, in which case the provisions of this Section 8(c) and the provisions of Section 4.4(c)(ii) (Installment Payments – Initial Installment Payment Schedule; Adjustments to Installment Payment Schedule) of the Loan (including ISA shall no longer apply, and accrued interest capitalized theretofore and such additional interest on the unpaid Principal Components of the Installment Payments shall no longer be permitted to be capitalized) to exceed capitalized and each Installment Payment following the maximum amount end of the Capitalized Interest Period shall include an Interest Component calculated as set forth in Section 2.1, 4.4(b) (iInstallment Payments – Calculation of Interest Components) 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 ISA and Installment Payments shall be made monthly on the same day on which such additional interest would have been capitalized pursuant to payable as set forth in Section 3.2(a4.4(g) (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 Installment Payments – Manner 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 Payments) of the obligations ISA. For purposes of the Borrower hereunder or this subsection, an Event of Default under any other Loan Document.Section 17(a)(v) (

Capitalized Interest Period. (a) Except as provided in Section 3.2(b), no No payment of the principal of or interest on the Loan any Installment Payment is required to be made during the Capitalized Interest Period. Interest accrued on the Loan in On each full calendar month May 1 and November 1 occurring during the Capitalized Interest Period Period, interest accrued on the Outstanding Balance (and the corresponding unpaid Principal Components of the Installment Payments) in the six (6) month period ending immediately prior to such date shall be capitalized and added to the outstanding principal balance Outstanding Balance (and the corresponding unpaid Principal Components of the Loan Installment Payments). Interest on Capitalized Interest shall commence accruing at the WIFIA Interest Rate on the next calendar day immediately following date such full calendar month. Capitalized Interest accrued on is added to the Loan for any partial calendar month unpaid Principal Components of the Installment Payments during the Capitalized Interest Period shall be capitalized pursuant to this Section 8(c) (and added the corresponding Section 4.4(c) (Installment Payments – Initial Installment Payment Schedule; Adjustments to the outstanding principal balance Installment Payment Schedule) 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 PeriodISA). Within 30 thirty (30) days after the end of the Capitalized Interest Period, it is anticipated that the Lender WIFIA Credit Provider shall give written notice to the Borrower City stating the outstanding principal balance unpaid Principal Components of the Loan Installment Payments, which aggregate amount shall be equal to the Outstanding Balance, in either case, 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 provided, however, that no failure to give or delay in giving such notice shall affect any of the obligations of the Borrower hereunder City under this Agreement, the ISA or under any other Loan Document. (b) Notwithstanding anything in Section 3.2(a) or any other provision of the Loan Documents to other WIFIA Credit Documents. Notwithstanding the contraryforegoing, if, and to the extent that, the capitalization of additional interest during the Capitalized Interest Period would cause shall end immediately upon written notification to the principal amount City by the WIFIA Credit Provider that an Event of Default has occurred, in which case the provisions of this Section 8(c) and the provisions of Section 4.4(c)(ii) (Installment Payments – Initial Installment Payment Schedule; Adjustments to Installment Payment Schedule) of the Loan (including ISA shall no longer apply, and accrued 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.unpaid

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, 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 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 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, which statement thereof shall be deemed conclusive thereof 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 other Loan Document.