Common use of Capitalized Interest Period Clause in Contracts

Capitalized Interest Period. No payment of any Installment Payment 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 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 Balance (and the corresponding unpaid Principal Components of the Installment Payments). Interest on Capitalized Interest shall commence accruing at the WIFIA Interest Rate on the date such Capitalized Interest is added to the unpaid Principal Components of the Installment Payments during the Capitalized Interest Period pursuant to this Section 8(c) (and the corresponding Section 4.4(c) (Installment Payments – Initial Installment Payment Schedule; Adjustments to Installment Payment Schedule) of the ISA). Within thirty (30) days after the end of the Capitalized Interest Period, it is anticipated that the WIFIA Credit Provider shall give written notice to the City stating the unpaid Principal Components of the 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, however, that no failure to give or delay in giving such notice shall affect any of the obligations of the City under this Agreement, the ISA or under any of the other WIFIA Credit Documents. Notwithstanding the foregoing, the Capitalized Interest Period shall end immediately upon written notification to the 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 ISA shall no longer apply, and accrued interest on the unpaid

Capitalized Interest Period. No (a) Except as provided in Section 3.2(b), no payment of any Installment Payment the principal of or interest on the Loan is required to be made during the Capitalized Interest Period. On Interest accrued on the Loan in each May 1 and November 1 full calendar month occurring during the Capitalized Interest 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 Period shall be capitalized and added to the Outstanding Balance (and the corresponding unpaid Principal Components outstanding principal balance of the Installment Payments)Loan on the next calendar day immediately following such full calendar month. Interest on Capitalized Interest shall commence accruing at the WIFIA Interest Rate accrued on the date such Capitalized Interest is added to the unpaid Principal Components of the Installment Payments Loan for any partial calendar month during the Capitalized Interest Period pursuant shall be capitalized and added to this Section 8(c) (and the corresponding Section 4.4(c) (Installment Payments – Initial Installment Payment Schedule; Adjustments to Installment Payment Schedule) outstanding principal balance of the ISA)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 thirty (30) 30 days after the end of the Capitalized Interest Period, it is anticipated that the WIFIA Credit Provider Lender shall give written notice to the City Borrower stating the unpaid Principal Components outstanding principal balance of the Installment Payments, which aggregate amount shall be equal to the Outstanding Balance, in either case, 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, however, provided that no failure to give or delay in giving such notice shall affect any of the obligations of the City under this Agreement, the ISA Borrower hereunder or under any other Loan Document. (b) Notwithstanding anything in Section 3.2(a) or any other provision of the other WIFIA Credit Documents. Notwithstanding Loan Documents to the foregoingcontrary, 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 end immediately upon written notification not be capitalized and (ii) for the remainder of the Capitalized Interest Period, the Borrower shall pay to the City by Lender the WIFIA Credit Provider amount of such additional interest accruing monthly that an Event of Default has occurred, in could not be capitalized. Such payments shall be made monthly on the same day on which case the provisions of this such additional interest would have been capitalized pursuant to Section 8(c) and the provisions of Section 4.4(c)(ii3.2(a) (Installment Payments – Initial Installment Payment Scheduleor 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; Adjustments provided that no failure to Installment Payment Schedule) give or delay in giving such notice shall affect any of the ISA shall no longer apply, and accrued interest on obligations of the unpaidBorrower hereunder or under any other Loan Document.

Capitalized Interest Period. No payment of any Installment Payment 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 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 Balance (and the corresponding unpaid Principal Components of the Installment Payments). Interest on Capitalized Interest shall commence accruing at the WIFIA Interest Rate on the date such Capitalized Interest is added to the unpaid Principal Components of the Installment Payments during the Capitalized Interest Period pursuant to this Section 8(c) (and the corresponding Section 4.4(c) (Installment Payments – Initial Installment Payment Schedule; Adjustments to Installment Payment Schedule) of the ISA). Within thirty (30) days after the end of the Capitalized Interest Period, it is anticipated that the WIFIA Credit Provider shall give written notice to the City stating the unpaid Principal Components of the 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, however, that no failure to give or delay in giving such notice shall affect any of the obligations of the City under this Agreement, the ISA or under any of the other WIFIA Credit Documents. Notwithstanding the foregoing, the Capitalized Interest Period shall end immediately upon written notification to the 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 ISA shall no longer apply, and accrued interest on the unpaidunpaid Principal Components of the Installment Payments shall no longer be permitted to be capitalized and each Installment Payment following the end of the Capitalized Interest Period shall include an Interest Component calculated as set forth in Section 4.4(b) (Installment Payments – Calculation of Interest Components) of the ISA and Installment Payments shall be payable as set forth in Section 4.4(g) (Installment Payments – Manner of Payments) of the ISA. For purposes of this subsection, an Event of Default under Section 17(a)(v) (

Capitalized Interest Period. No (a) Except as provided in Section 3.2(b), no payment of any Installment Payment the principal of or interest on the Loan is required to be made during the Capitalized Interest Period. On Interest accrued on the Loan in each May 1 and November 1 full calendar month occurring during the Capitalized Interest 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 Period shall be capitalized and added to the Outstanding Balance (and the corresponding unpaid Principal Components outstanding principal balance of the Installment Payments)Loan on the next calendar day immediately following such full calendar month. Interest on Capitalized Interest shall commence accruing at the WIFIA Interest Rate accrued on the date such Capitalized Interest is added to the unpaid Principal Components of the Installment Payments Loan for any partial calendar month during the Capitalized Interest Period pursuant shall be capitalized and added to this Section 8(c) (and the corresponding Section 4.4(c) (Installment Payments – Initial Installment Payment Schedule; Adjustments to Installment Payment Schedule) outstanding principal balance of the ISA)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 thirty (30) 30 days after the end of the Capitalized Interest Period, it is anticipated that the WIFIA Credit Provider Lender shall give written notice to the City Borrower stating the unpaid Principal Components outstanding principal balance of the Installment Payments, which aggregate amount shall be equal to the Outstanding Balance, in either case, 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, however, provided that no failure to give or delay in giving such notice shall affect any of the obligations of the City under this Agreement, the ISA Borrower hereunder or under any other Loan Document. (b) Notwithstanding anything in Section 3.2(a) or any other provision of the other WIFIA Credit Documents. Notwithstanding Loan Documents to the foregoingcontrary, 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 end immediately upon written notification not be capitalized and (ii) for the remainder of the Capitalized Interest Period, the Borrower shall pay to the City by Lender the WIFIA Credit Provider amount of such additional interest accruing monthly that an Event of Default has occurred, in could not be capitalized. Such payments shall be made monthly on the same day on which case the provisions of this such additional interest would have been capitalized pursuant to Section 8(c) and the provisions of Section 4.4(c)(ii3.2(a) (Installment Payments – Initial Installment Payment Scheduleor 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; Adjustments provided that no failure to Installment Payment Schedule) give or delay in giving such notice shall affect any of the ISA shall no longer apply, and accrued interest on obligations of the unpaidBorrower hereunder or under any other Loan Document.