Interest and Principal Clause Samples

Interest and Principal. The Notes will mature on July 1, 2020 and will bear interest at the rate of 4.250% per annum. The Issuers will pay interest on the Notes on each January 1 and July 1 (each an “Interest Payment Date”), beginning on January 1, 2016, to the Holders of record on the immediately preceding December 15 or June 15 (each a “Record Date”), respectively. 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 and including the date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.

Interest and Principal. The Issuer promises to pay interest on the principal amount of the Superpriority Notes (i) at a rate per annum equal to the Benchmark for the Interest Period plus the Applicable Margin, and (ii) in the manner specified below. The interest rate for any Interest Period will be the Compounded SOFR plus the Applicable Margin. Interest on the Superpriority Notes will accrue from and including the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance, to but excluding such Payment Date, calculated on the basis of a 360-day year composed of twelve 30-day months. Interest on the Superpriority Notes will be payable as Cash Interest; provided that the Issuer shall be entitled to elect to pay the Applicable Margin portion of interest (but not the Compounded SOFR portion of interest) on the Superpriority Notes in the form of PIK Interest as provided below and in accordance with the terms of the Indenture. In the event the Issuer elects to pay PIK Interest for the applicable Interest Period, one (1) Business Day prior to the commencement of the applicable Interest Period, the Issuer shall deliver to the Trustee a PIK Notice (i) stating that the Issuer has elected to pay PIK Interest on the applicable Interest Payment Date, (ii) setting forth the total amount of interest due and payable on the applicable Interest Payment Date, (iii) setting forth the amount of Cash Interest PIK Interest to be paid on the applicable Interest Payment Date, and (iv) directing the Trustee to increase the aggregate principal amount of the outstanding Superpriority Notes as of the applicable Interest Payment Date in an amount equal to the PIK Interest payable on such date, which PIK Notice the Trustee and the Paying Agents shall be entitled to conclusively rely upon. The Trustee shall promptly deliver a copy of the PIK Notice to the Holders of the Superpriority Notes. Notwithstanding the foregoing, interest on the Superpriority Notes for the first Interest Period that is payable on the first Interest Payment Date of February 28, 2025 shall be payable as PIK Interest and the Issuer shall not be required to deliver a PIK Notice in respect thereof. The interest rate and amount of interest to be paid on the Superpriority Notes for each Interest Period will be determined by the Issuer. All determinations made by the Issuer shall, in the absence of manifest error, be conclusive for all purposes and binding on the Issuer and the Ho...

Interest and Principal. The interest on this Debenture is payable in any one (but not more than one) of the following three ways, at the Company's option (prior to an Event of Default): (a) in such coin or currency of the United States as of the time of payment is legal tender for payment of public and private debts, (i) by wire transfer of immediately available funds to the account designated in writing by the Holder or, in the absence of such designation, (ii) at the address last appearing on the Debenture Register of the Company as designated in writing by the Holder hereof from time to time. (b) by delivering a number of fully registered, freely tradable shares of Common Stock equal to the interest due on such Interest Payment date divided by 95% of the average of the closing bid prices of a share of Common Stock on the Principal Market ("CLOSING BID") for the five (5) Trading Days immediately prior to but not including the Interest Payment Date ("COMMON STOCK INTEREST"); or; (c) by adding the amount thereof to the Outstanding Principal Amount due under this Debenture ("PIK INTEREST"). Except as herein provided for interest, all amounts payable under this Debenture shall be paid as provided in clause (a) above. The Company's election under (a), (b) or (c) above is irrevocable. (d) The Company shall exercise its interest payment option hereunder by delivering an irrevocable statement in the form of Exhibit 1 hereto ("PAYMENT STATEMENT") at least ten (10) Trading Days prior to the applicable Interest Payment Date and applicable for such Interest Payment Date only. If the Payment Statement is not timely delivered to the Holder in the form elected by the Company and as otherwise provided herein, the payment with respect to such Interest Payment Date shall be paid, at the exclusive option of the Holder, either (i) in immediately available funds, or (ii) in PIK Interest. Any PIK Interest when so added to the Outstanding Principal Amount due under this Debenture shall, for all purposes of this Debenture, be deemed to be part of the principal indebtedness evidenced by this Debenture including, without limitation, for purposes of determining interest payable hereunder after the applicable Interest Payment Date for which such PIK Interest is paid and amounts convertible into Common Shares hereunder after the applicable Interest Payment Date for which such PIK Interest is paid. The Company will pay any principal due and all accrued and unpaid interest due upon this Debenture to the pers...

Interest and Principal. (a) On each Payment Date, Borrower shall pay to Lender interest in arrears on each Note for the applicable Interest Accrual Period at the applicable Interest Rate (except that in each case, interest shall be payable on the Indebtedness, including due but unpaid interest, at the Default Rate with respect to any portion of such Interest Accrual Period falling during the continuance of an Event of Default). (b) The Loan may be prepaid in whole or in part on any Business Day; provided that any prepayment hereunder shall be accompanied by all interest accrued on the amount prepaid through and including the date of such prepayment, plus all other amounts then due under the Loan Documents. The entire outstanding principal balance of the Loan, together with interest through the Maturity Date and all other amounts then due under the Loan Documents, shall be due and payable by Borrower to Lender on the Maturity Date. Interest will cease to accrue on any portion of the Principal Indebtedness that has been repaid to Lender. (c) Any payments of interest and/or principal not paid when due hereunder shall bear interest at the applicable Default Rate. (d) Any and all payments by or on account of any obligation of Borrower hereunder shall be made without deduction or withholding for any taxes, except as required by law; provided that to the extent any deduction or withholding is so required by law, Borrower shall be entitled to so deduct or withhold the amounts required to be withheld or deducted from any such payment.

Interest and Principal. The Notes will mature on May 15, 2023 and will bear interest at the rate of 6.625% per annum. The Company will pay interest on the Notes on each May 15 and November 15, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”), beginning on November 15, 2015, to the Holders of record on the immediately preceding May 1 or November 1 (each a “Record Date”), respectively. 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 date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.

Interest and Principal. The Borrower shall pay interest on any short-term loan at the rate fixed in the way described in 3 and 4 above, together with the repayment of the short-term loan in question. Interest shall be calculated on the basis of the actual number of days elapsed and a year of 360 days or 365 days, dependent on the desired currency. Each short-term loan shall be repaid on the last day of the loan period. Premature repayment is not permitted.

Interest and Principal. The Issuers promise to pay principal on the Notes (based on the aggregate principal amount of the Notes on the Closing Date, i.e. $[_________]) in the amounts and on the Payment Dates set forth in the Indenture (the “Anticipated Principal Payment Schedule”), as such amounts may be increased or reduced, on a pro rata basis, from time to time, as provided in Section 2.01(d), Section 2.11, Section 3.07(e), Section 3.08(g), Section 3.09(k), and Section 4.34(f) of the Indenture. For the avoidance of doubt, any payment of premium due under the Indenture shall not reduce the Anticipated Principal Payment Schedule. To the extent not otherwise paid, the outstanding principal amount of the Notes shall be paid in full on October 20, 2025. The Notes will bear interest at a rate of 4.500% per annum on the outstanding principal amount thereof. Interest on the Notes is payable quarterly in arrears on each Payment Date and will accrue from and including the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance, to but excluding such Payment Date, calculated on the basis of a 360-day year composed of twelve 30-day months. Interest will also be paid on each prepayment date, redemption date or repurchase date, as the case may be, as provided in the Indenture on the amount of principal so paid for the period from and including the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance to but excluding such date of payment.

Interest and Principal. Interest on the principal amount outstanding under the Loan from time to time shall accrue at a variable rate of the Prime Rate, plus seventy-five basis points (0.75%) per annum, which accrued interest shall be payable quarterly in arrears. The principal of the Note shall be repaid in full on the Maturity Date, together with all accrued but unpaid interest.

Interest and Principal. Interest and principal under the notes contemplated in the Credit Agreement have been paid current.