INITIAL PRINCIPAL BALANCE; INTEREST RATE Sample Clauses

INITIAL PRINCIPAL BALANCE; INTEREST RATE. EXPECTED FINAL PAYMENT DATE; FINAL MATURITY DATE (a) The Transition Bonds of each Tranche of the Senior Secured Transition Bonds, Series A shall have the initial principal balance, Expected Final Payment Date and Final Maturity Date and bear interest at the interest rate (the "Interest Rate") as set forth below: Initial Principal Expected Final Final Series Balance Payment Date Maturity Date Interest Rate ----- ----------------- -------------- ------------- ------------- A-1 $250,000,000 2/1/09 2/1/11 4.84% A-2 $368,000,000 8/1/12 8/1/14 4.97% A-3 $252,000,000 2/1/14 8/1/15 5.09% A-4 $519,000,000 8/1/17 8/1/19 5.17% A-5 $462,000,000 8/1/19 8/1/20 5.302% (b) The Expected Final Payment Date for each Tranche of the Senior Secured Transition Bonds, Series A will be the date when the outstanding principal balance of that Tranche will be reduced to zero if payments are made according to the Expected Amortization Schedule for that Tranche. The Final Maturity Date for each Tranche of the Senior Secured Transition Bonds, Series A will be the date when the Issuer is required to pay the entire remaining unpaid principal balance, if any, of all outstanding Senior Secured Transition Bonds, Series A of that Tranche. (c) Interest on the Senior Secured Transition Bonds, Series A will be paid before Principal of the Senior Secured Transition Bonds, Series A. If there is a shortfall in the amounts available in the Collection Account to make interest payments, the Trustee will distribute Interest Pro Rata to each Outstanding Tranche of Senior Secured Transition Bonds, Series A based on the amount of Interest payable on each Outstanding Tranche. Interest on the Senior Secured Transition Bonds, Series A will be calculated on the basis of a 360-day year of twelve 30-day months.
Sample 1
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INITIAL PRINCIPAL BALANCE; INTEREST RATE. EXPECTED FINAL PAYMENT DATE; FINAL MATURITY DATE (a) The Storm Recovery Bonds of each Tranche of the 2008 Senior Secured Storm Recovery Bonds shall have the initial principal balance, Expected Final Payment Date and Final Maturity Date and bear interest at the interest rate (the “Interest Rate”) as set forth below: A-1 $ 113,000,000 3/1/2017 3/1/2020 4.41 % A-2 $ 67,600,000 3/1/2020 3/1/2023 5.61 % (b) The Expected Final Payment Date for each Tranche of the 2008 Senior Secured Storm Recovery Bonds will be the date when the outstanding principal balance of that Tranche will be reduced to zero if payments are made according to the Expected Amortization Schedule for that Tranche. The Final Maturity Date for each Tranche of the 2008 Senior Secured Storm Recovery Bonds will be the date when the Issuer is required to pay the entire remaining unpaid principal balance, if any, of all outstanding 2008 Senior Secured Storm Recovery Bonds of that Tranche. (c) Interest on the 2008 Senior Secured Storm Recovery Bonds will be paid before Principal of the 2008 Senior Secured Storm Recovery Bonds. If there is a shortfall in the amounts available in the Collection Account to make interest payments, the Trustee will distribute Interest Pro Rata to each Outstanding Tranche of 2008 Senior Secured Storm Recovery Bonds based on the amount of Interest payable on each Outstanding Tranche. Interest on the 2008 Senior Secured Storm Recovery Bonds will be calculated on the basis of a 360-day year of twelve 30-day months.
Sample 1

Related to INITIAL PRINCIPAL BALANCE; INTEREST RATE

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $ 350,274,594.21.

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • Outstanding Principal Balance Each Receivable has an outstanding principal balance of at least $500.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Applicable Interest Rate 5.10.1 In respect of Pre-Delivery Interest Periods or Interest Periods pursuant to Clause 5.3.1 and subject to Clause 5.3.1, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during a Pre-Delivery Interest Period or an Interest Period shall be the Floating Interest Rate. 5.10.2 In respect of Interest Periods pursuant to Clause 5.3.2 and subject to Clause 5.3.2, Clause 5.12 and Clause 6, the rate of interest applicable to the Loan (or relevant part in the case of the division of the Loan under Clause 5.8) during an Interest Period shall be the Fixed Rate.

  • Maximum Interest Rate In no event shall any interest rate provided for hereunder exceed the maximum rate legally chargeable under applicable law with respect to loans of the Type provided for hereunder (the “Maximum Rate”). If, in any month, any interest rate, absent such limitation, would have exceeded the Maximum Rate, then the interest rate for that month shall be the Maximum Rate, and, if in future months, that interest rate would otherwise be less than the Maximum Rate, then that interest rate shall remain at the Maximum Rate until such time as the amount of interest paid hereunder equals the amount of interest which would have been paid if the same had not been limited by the Maximum Rate. In the event that, upon payment in full of the Obligations, the total amount of interest paid or accrued under the terms of this Agreement is less than the total amount of interest which would, but for this Section 3.3, have been paid or accrued if the interest rate otherwise set forth in this Agreement had at all times been in effect, then the Borrower shall, to the extent permitted by applicable law, pay the Agent, for the account of the applicable Lenders, an amount equal to the excess of (a) the lesser of (i) the amount of interest which would have been charged if the Maximum Rate had, at all times, been in effect or (ii) the amount of interest which would have accrued had the interest rate otherwise set forth in this Agreement, at all times, been in effect over (b) the amount of interest actually paid or accrued under this Agreement. If a court of competent jurisdiction determines that the Agent and/or any Lender has received interest and other charges hereunder in excess of the Maximum Rate, such excess shall be deemed received on account of, and shall automatically be applied to reduce, the Obligations other than interest, and if there are no Obligations outstanding, the Agent and/or such Lender shall refund to the Borrower such excess.

  • Applicable Interest Rates (a) U.S.

  • Optional Principal Payments 8 Method of Selecting Types and Interest Periods for New Advances..........................................12 2.9 Conversion and Continuation of Outstanding Advances......................................................12 2.10 Changes in Interest Rate, etc...........................................................................12 2.11

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