Disbursement of Interest Sample Clauses

Disbursement of Interest. Escrow Agent is hereby directed to invest all funds deposited in the escrow account in one month US Treasury Bills unless otherwise directed. All residual funds resulting from round-xxxx purchases (typically less than $1,000.00) should be placed in an interest bearing demand account insured by the Federal Deposit Insurance Corporation or a US Treasury collateralized flex repo account. Escrowed funds should fully collateralized by US Treasury securities and/or insured by the Federal Deposit Insurance Corporation at all times. All account deposits and withdrawals are performed by U. S. Bank, N.A. XXX and City shall provide Escrow Agent with a W-9 or W-8 IRS tax form prior to the disbursement of interest and Escrow Agent will file the appropriate 1099 or other required forms pursuant to Federal and Oregon laws. A statement of citizenship will be provided if requested by Escrow Agent. Escrow Agent shall not be responsible for maximizing the yield on the Proceeds. Escrow Agent shall not be liable for losses, penalties or charges incurred upon any sale or purchase of any such investment. XXX, City and Escrow Agent agree that interest earned on the deposited monies under this agreement shall be disbursed to the same parties, at the same time, and in the same proportion as the principal. Disbursement shall in no way constitute or be considered a waiver by the City to any other claims the City may have to penalties, late payment interest, recomputation expenses, etc. XXX and City acknowledge that regulations of the Comptroller of the Currency xxxxx XXX and City the right to receive brokerage confirmations of the security transactions as they occur. XXX and City specifically waive compliance with 12CFR12 and herein notify Agent that no brokerage confirmations need be sent relating to investment transactions as they occur. Escrow Agent will send monthly statements of all account activity to City and XXX. SECTION FIVE
Sample 1
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Disbursement of Interest. The amount set forth under the ------------------------ Item "Interest" shall be periodically disbursed directly to Lender in order to pay interest. No amounts under the Item "Interest" shall be disbursed from Loan proceeds subsequent to the date of Completion of Construction until Lender makes the Final Disbursement of Loan Proceeds pursuant to the terms of Section 5.11 hereof. Pursuant to Section 2.15 hereinbelow, Lender is authorized to credit to Borrower's demand deposit account with Lender and to make Disbursements automatically from such demand deposit account to pay interest without request from or prior notice to Borrower. The amount of such Disbursements shall be added to the principal amount of the Loan, and Lender will provide Borrower with a monthly statement showing the total amount of such Disbursements. Depletion of the amounts set forth for the Item "Interest" shall not release Borrower from any of Borrower's obligations under the Loan Documents, including but not limited to its obligation to pay interest on the Loan.
Sample 1
Disbursement of Interest. Interest earned on the Escrow Deposit shall not constitute a part of the Escrow Deposit. Accrued and credited interest in the Escrow Deposit shall be paid to the Partners’ Representatives within thirty (30) days after the end of each calendar quarter, and concurrently with the final disbursement from the Escrow Deposit. The parties agree that Escrow Agent does not have any interest in the Escrow Deposit, but is serving only as an escrow agent hereunder. All taxes in respect of earnings on the Escrow Deposit will be the obligation of and will be paid when due by the recipient of such earnings, who shall indemnify and hold Escrow Agent harmless from and against any liability arising from such taxes, including the failure to pay such taxes, provided however, that Escrow Agent shall be responsible for reporting any dividends, interest and other income earned to the Internal Revenue Service, provided further that Partners’ Representatives acknowledge that payments of any dividends, interest and other income earned on the Escrow Deposits will be subject to backup withholding penalties unless a properly completed Internal Revenue Service form W-8, or W-9 certification is submitted to Escrow Agent on behalf of the Partners’ Representatives.
Sample 1

Related to Disbursement of Interest

  • Payment of Interest The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling at six monthly intervals after the first day of the Interest Period).

  • Payment of Interest and Fees Notwithstanding any other provision of this Agreement or any provision of any Related Document, Borrower does not agree or intend to pay, and Lender does not agree or intend to charge, collect, take, reserve or receive (collectively referred to herein as “charge or collect”), any amount in the nature of interest or in the nature of a fee for the Loan which would in any way or event (including demand, prepayment, or acceleration) cause Lender to contract for, charge or collect more for the Loan than the maximum Lender would be permitted to charge or collect by any applicable federal or Texas state law. Any such excess interest or unauthorized fee will, instead of anything stated to the contrary, be applied first to reduce the unpaid principal balance of the Loan, and when the principal has been paid in full, be refunded to Borrower.

  • Rates and Payment of Interest (a) The Obligations shall bear interest (i) if a Base Rate Loan, at the Base Rate in effect from time to time, plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. Interest shall accrue from the date the Loan is advanced or the Obligation is incurred or payable, until paid by Borrowers. If a Loan is repaid on the same day made, one day’s interest shall accrue.

  • Accrual and Payment of Interest Interest shall accrue from and including the date of any Borrowing to but excluding the date of any prepayment or repayment thereof and shall be payable by the Borrower on a joint and several basis: (i) in respect of each Base Rate Loan, quarterly in arrears on the last Business Day of each March, June, September and December (ii) in respect of each Eurodollar Loan, on the last day of each Interest Period applicable thereto and, in the case of an Interest Period in excess of three months, on the dates that are successively three months after the commencement of such Interest Period; (iii) in respect of any Swing Loan, on the Swing Loan Maturity Date applicable thereto; and (iv) in respect of all Loans, other than Revolving Loans accruing interest at the Base Rate, on any repayment, prepayment or Conversion (on the amount repaid, prepaid or Converted), at maturity (whether by acceleration or otherwise), and, after such maturity or, in the case of any interest payable pursuant to Section 2.11(c), on demand.

  • Assignment of Interest The lessee may not assign or sublet any interest held under this lease, including a security interest, without the prior written approval of the lessor. The lessor may approve such assignment or subletting if the lessor finds it to be in the best interest of the state. No such assignment or subletting will be effective until approved by the lessor in writing, and the assignee agrees to be subject to and governed by the provisions of this lease, any subsequent amendments to this lease, any additional stipulations, or reappraisal as deemed appropriate by the lessor, and all applicable laws, regulations, and ordinances in the same manner as the original lessee. No assignment or subletting of the leasehold, or any portion thereof, by the lessee will annul the lessee's obligation to pay the compensation required for the full term of this lease. Except as provided in this lease, no subdivision of the leasehold interest may occur without the prior written approval of the lessor.

  • Calculation and Payment of Interest (a) Interest on the outstanding principal amount from time to time of each Base Rate Canada Loan shall accrue from day to day from and including the date on which credit is obtained by way of such Loan to but excluding the date on which such Loan is repaid in full (both before and after maturity and as well after as before judgment) and shall be calculated on the basis of the actual number of days elapsed divided by 365 or 366, as the case may be.

  • Payment of Interest and Principal All unpaid principal, together with any then accrued and unpaid interest and any other amounts payable hereunder, shall be due and payable on November 30, 2020 (the “Maturity Date”). If any payment hereunder becomes due and payable on a Saturday, Sunday or legal holiday under the laws of the United States of America or the State of Minnesota, or both, the due date thereof shall be extended to the next business day and interest shall be payable for any principal so extended for the period of such extension. Payments of principal and interest are to be made at the address provided herein for the Holder (or at such other place as the Holder shall have notified the Debtor in writing at least five (5) days before such payment is due) or by wire transfer pursuant to the Holder’s written instructions. Payments of interest and principal are subordinate to any indebtedness held by Lone Star Value Investors, LP.

  • Payment of Interest on the Credit Extensions (a) Interest Rate.

  • Amount and Payment of Special Interest Any Special Interest that accrues on a Note pursuant to Section 7.03(A) will be payable on the same dates and in the same manner as the Stated Interest on such Note and will accrue at a rate per annum equal to one quarter of one percent (0.25%) of the principal amount thereof for the first ninety (90) days on which Special Interest accrues and, thereafter, at a rate per annum equal to one half of one percent (0.50%) of the principal amount thereof; provided, however, that in no event will Special Interest, together with any Additional Interest, accrue on any day on a Note at a combined rate per annum that exceeds one half of one percent (0.50%). For the avoidance of doubt, any Special Interest that accrues on a Note will be in addition to the Stated Interest that accrues on such Note and, subject to the proviso of the immediately preceding sentence, in addition to any Additional Interest that accrues on such Note.

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