Deferred Interest Payments Sample Clauses
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Deferred Interest Payments. The Lender agrees to defer payments of accrued interest on the Loan that are due during the Forbearance Period (the “Deferred Interest”); provided that interest shall continue to accrue during the Forbearance Period at the rate set forth in the Term Note. The interest that accrues during the Forbearance Period shall be paid-in-kind (which, for the avoidance of doubt, will result in the monthly compounding of interest) and shall be deemed added to the outstanding principal balance of the Loan with respect to which such interest has accrued on the applicable Payment Days during such Forbearance Period. The Deferred Interest added to the outstanding principal balance of Loan during the Forbearance Period shall be due and payable in full on the Maturity Date. The Obligors hereby acknowledge that the Lender’s agreement regarding the Deferred Interest is in the nature of a conditional forbearance only, and that the Lender has not made any agreement or commitment to modify or extend the Loan Documents beyond the Forbearance Period, and that, upon the termination of the Forbearance Period, the Lender shall have the immediate right to exercise all remedies under the Loan Documents.
Deferred Interest Payments. In the event that Borrower is not permitted under the terms of the Intercreditor Agreement to make all or part of any interest payment as and when due in accordance with the terms of this Agreement, Lender hereby agrees that it shall not declare the Debt to be immediately due and payable, provided that (i) the Debt, including for greater certainty any and all interest that is due and that remains unpaid, shall bear interest at the Default Rate in accordance with Section 1.7 hereof until all unpaid interest is paid in full, (ii) Borrower shall pay all unpaid interest (including interest thereon) from time to time as and when such payment shall be permitted under the terms of the Intercreditor Agreement, and (iii) notwithstanding the terms of the Intercreditor Agreement, no interest payment shall remain unpaid for a period of more than 180 days from the initial scheduled interest payment date. In the event of a default of any of the foregoing, Lender shall be entitled to declare the Debt immediately due and payable and shall be permitted to exercise all of its rights and recourses under this Agreement.
Deferred Interest Payments. Notwithstanding anything contained in the Credit Agreement, as amended hereby, to the contrary, on each Interest Payment Date (as that term is defined in the Interest Rate Annex) occurring after May 31, 1996 and prior to October 1, 1996 (and subject to Section 11.7 of the Credit Agreement), payments of interest on Base Rate Borrowings shall be made as if the Base Rate in effect on each day during the calendar month to which such Interest Payment Date relates was equal to the Prime Rate for such day plus one percent (1%). All interest so deferred which has accrued to October 1, 1996 and which has not otherwise been paid shall be due and payable on such day.
Deferred Interest Payments. Upon the occurrence of a Mandatory Payment Event or a Mandatory Partial Payment Event, all Deferred Interest Payments will become mandatorily due and payable in full on the date of either such event, notwithstanding any further Deferral Notice or an occurrence or continuance of a Required Deferral Condition.
Deferred Interest Payments. If the Company provides the Agent with the Senior Noteholders’ written agreement to defer payments owed on account of the Senior Notes through May 20, 2020, payment of the interest payable under the Term Note on (i) March 20, 2020 and (ii) April 20, 2020 shall be deferred to (and shall be immediately due and payable upon) May 20, 2020. All other interest installments payable under the Term Note shall remain due and payable upon their respective payment dates as set forth in the Term Note.”
Deferred Interest Payments. WOF agrees to defer the April Interest Payment until the last payment of WOF's Outstanding Debt is made, provided interest will accrue thereon at the rate and terms prescribed in Section 2.2 of the Loan Amendment Agreement for the "WOF Debt" (as defined therein), until payment of the April Interest Payment and accrued interest has been paid in full to WOF.
Deferred Interest Payments. If the Company provides the Agent with the Senior Noteholders’ written agreement to defer payments owed on account of the Senior Notes through May 20, 2020, payment of the interest payable under the Term Note on (i) March 20, 2020 and (ii) April 20, 2020 shall be deferred to (and shall be immediately due and payable upon) May 20, 2020. All other interest installments payable under the Term Note shall remain due and payable upon their respective payment dates as set forth in the Term Note.”
1.2 Amendment to Section 6.1(g) of the Credit Agreement. Section 6.1(g) of the Credit Agreement is hereby amended in its entirety to read as follows:
Deferred Interest Payments. Upon the Parties’ execution hereof and ▇▇▇▇▇▇▇▇’s timely and complete satisfaction of the Conditions Precedent, the Note and other Loan Documents are amended such that Borrower shall not have to pay the Deferred Interest Payments as and when owing under the Note. Borrower shall instead be responsible for paying the Deferred Interests Payments to Lender in a lump sum payment in full on the Maturity Date, in addition to all other indebtedness owing to Lender under the Note and Loan Documents.
Deferred Interest Payments. On the Interest Payment Dates occurring on April 1, 2020, May 1, 2020 and June 1, 2020 (the period commencing on April 1, 2020 and ending on June 1, 2020 being the “Deferral Period”), all regularly scheduled monthly payments of interest under the Note, Loan Agreement and the other Loan Documents shall be deferred (“Deferred Payments”). Notwithstanding anything herein or in any of the Loan Documents to the contrary, interest shall continue to accrue on the Loan at the Applicable Interest Rate specified in the Loan Agreement; provided, however, that the Deferred Payments shall not accrue interest but shall be deemed principal to be repaid in total as set forth herein. Regularly scheduled monthly interest payments as provided for in the Note and Loan Agreement shall recommence on July 1, 2020, being the first Interest Payment Date following the expiration of the Deferral Period. All Deferred Payments shall be due and payable in full on or before June 30, 2021 (the “Deferral Repayment Date”); provided, however, (i) the Borrower may prepay the Deferred Payments in whole or in part without penalty or any other cost or charge at its sole option at any time prior to the Deferral Repayment Date, and (ii) in the event that Lenders accelerate Borrower’s obligations under the Loan Documents as allowed in accordance with the terms and conditions thereof on an earlier date, then the Deferred Payments, together with all other amounts due and payable on the Maturity Date pursuant to Section 2.5 of the Loan Agreement, shall be due and payable in full on the date of such acceleration as set forth in Section 2.5 of the Loan Agreement.