Interest and Interest Rate Clause Samples
The 'Interest and Interest Rate' clause defines the terms under which interest will accrue on outstanding amounts owed between parties, specifying the applicable interest rate and the circumstances triggering its application. Typically, this clause outlines whether interest is simple or compound, the frequency of compounding, and the reference rate (such as a central bank rate plus a margin). For example, it may apply to late payments or overdue invoices, ensuring that the party owed money is compensated for the time value of money. Its core practical function is to incentivize timely payments and provide a clear, agreed-upon method for calculating additional charges if payments are delayed, thereby reducing disputes and financial uncertainty.
POPULAR SAMPLE Copied 3 times
Interest and Interest Rate. (a) The Designated Securities will bear interest from March 8, 2017 or from the most recent date through which the Issuer has paid or provided for interest on the Designated Securities at an annual rate of 4.103%.
(b) The Issuer or the Guarantor, as the case may be, will pay interest on the Designated Securities semi-annually on March 8 and September 8 of each year, beginning on September 8, 2017 until the Stated Maturity, and on the Stated Maturity (each an “Interest Payment Date”).
(c) Interest on the Designated Securities will be computed on the basis of a 360-day year of twelve 30-day months. Except as described below for the first Interest Payment Date, on each Interest Payment Date, the Issuer or the Guarantor, as the case may be, will pay interest on the Designated Securities for the period commencing on and including the immediately preceding Interest Payment Date and ending on and including the day immediately preceding that Interest Payment Date.
(d) On the first Interest Payment Date, the Issuer or the Guarantor, as the case may be, will pay interest for the period beginning on and including the issue date of the Designated Securities and ending on and including September 7, 2017.
(e) If any Interest Payment Date falls on a day that is not a Fixed Rate Business Day, the interest payment shall be postponed to the next day that is a Fixed Rate Business Day, and no interest on such payment shall accrue for the period from and after such Interest Payment Date.
(f) If the Stated Maturity of any Designated Security is not a Fixed Rate Business Day, payment of principal and interest on the applicable Designated Security will be made on the next succeeding day that is a Fixed Rate Business Day, and no interest will accrue for the period from and after such Stated Maturity.
(g) Interest on each Designated Security will be paid only to the Person in whose name such Designated Security was registered at the close of business on the Regular Record Date for the applicable Interest Payment Date.
Interest and Interest Rate. The Notes will bear interest at a rate of 6.95% per annum, from April 10, 2002 (or, in the case of Notes issued upon the reopening of this series of Notes, from the date designated by the Company in connection with such reopening) or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable semiannually on each April 1 and October 1, commencing October 1, 2002 (each of which shall be an "Interest Payment Date"), to the Persons in whose names the Notes are registered in the Security Register at the close of business on the day falling 14 calendar days (whether or not a Business Day) next preceding such Interest Payment Date (each, a "Regular Record Date").
Interest and Interest Rate. Your Account is not an interest-bearing account.
Interest and Interest Rate. (a) The Notes shall accrue interest at the Interest Rate per annum. Interest on the Notes shall be payable semi-annually in arrears on each Interest Payment Date to Holders of record on the record date immediately preceding such Interest Payment Date. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. Interest on the Notes shall accrue from the most recent date to which Interest has been paid, or if no Interest has been paid, from the Issue Date, until the Principal Amount or Redemption Price, if applicable, is paid or duly made available for payment.
(b) If prior to any Interest Payment Date, any Additional Interest has accrued pursuant to the Registration Rights Agreement or any Special Interest has accrued pursuant to Section 7.03 hereof, and not theretofore been paid in full or any Late Charge has accrued and not theretofore been paid in full, any such Additional Interest, Special Interest or Late Charge shall be due and payable on such Interest Payment Date, and shall be included in Interest payable on such Interest Payment Date and shall be paid in the manner provided for herein for the payment of Interest (unless otherwise specified in the applicable Transaction Document).
(c) Interest shall be payable on each Interest Date, to each Holder on the applicable Interest Payment Date in cash (“Cash Interest”); provided, however, that at any time after September 30, 2009, so long as (i) there has been no Equity Conditions Failure (unless the applicable Holder has waived such Equity Conditions Failure) and (ii) the Consolidated Cash Flow for the 12 calendar months for which financial statements are publicly available immediately preceding the applicable Interest Payment Date is not greater than $10,000,000 (the “Consolidated Cash Flow Test”), the Company may at its option, as indicated on the Interest Election Notice, add the Interest (other than Additional Interest, Special Interest and Late Charges) due on such Interest Payment Date to the Principal Amount of the Notes as Capitalized Interest. In order to exercise the Company’s right to pay the Interest (other than Additional Interest, Special Interest and Late Charges) due on the applicable Interest Payment Date as Capitalized Interest, the Company shall deliver a written notice (each, an “Interest Election Notice”) to each Holder and the Trustee at least 20 Trading Days prior to the Interest Payment Date (the date such notice is delivered to all of the Holders, ...
Interest and Interest Rate. The Notes will bear interest at a rate of 8 1/2% per annum, from November 30, 1998 (or, in the case of Notes issued upon the reopening of this series of Notes, from the date designated by the Company in connection with such reopening) or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable monthly in arrears on the 15th of each month, commencing January 15, 1998 (each of which shall be an "Interest Payment Date"), to the Persons in whose names the Notes are registered in the Security Register at the close of business on the first day of each month (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date (each, a "Regular Record Date").
Interest and Interest Rate. The Notes will bear interest at a rate of 8-5/8% per annum, from December 20, 2001 (or, in the case of Notes issued upon the reopening of this series of Notes, from the date designated by the Company in connection with such reopening) or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable semiannually on each January 15 and July 15, commencing July 15, 2002 (each of which shall be an "Interest Payment Date"), to the Persons in whose names the Notes are registered in the Security Register at the close of business on January 1 and July 1, as the case may be (whether or not a Business Day), next preceding such Interest Payment Date (each, a "Regular Record Date").
Interest and Interest Rate. The Notes will bear interest at a rate of 3.950% per annum, from October 26, 2017 (or, in the case of Notes issued upon the reopening of this series of Notes, from the date designated by the Company in connection with such reopening), or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable semi-annually in arrears on January 15 and July 15 of each year, commencing July 15, 2018, or if such day is not a Business Day, on the next succeeding Business Day (each of which shall be an “Interest Payment Date”), to the Persons in whose names the Notes are registered in the Security Register at the close of business on the Regular Record Date for such interest, which shall be January 1 or July 1 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date (each, a “Regular Record Date”).
Interest and Interest Rate. The Notes will bear interest at a rate of 2.95% per annum, from December 20, 2019 (or, in the case of Notes issued upon the reopening of this series of Notes, from the date designated by the Issuer in connection with such reopening) or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable semiannually in arrears on each July 15 and January 15, commencing July 15, 2020 (each of which shall be an “Interest Payment Date”), to the Persons in whose names the Notes are registered in the Security Register at the close of business on the July 15 or January 15, as the case may be (whether or not a Business Day), next preceding such Interest Payment Date (each, a “Regular Record Date”).
Interest and Interest Rate. The rate at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.
Interest and Interest Rate. The Notes will bear interest at a rate of 4.375% per annum, from February 8, 2021 (or, in the case of Notes issued after February 8, 2021, from the date designated by the Company in connection with such issuance), or from the immediately preceding Interest Payment Date to which interest has been paid or duly provided for, payable semi-annually in arrears on March 1 and September 1 of each year, commencing September 1, 2021 (each of which shall be an “Interest Payment Date”), or if such day is not a Business Day, on the next succeeding Business Day, to the Persons in whose names the Notes are registered in the Security Register at the close of business on the Regular Record Date for such interest, which shall be February 15 or August 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date (each, a “Regular Record Date”).