Interest Deferral. (A) The obligation of Party B to pay the Party B Floating Rate Amount on any Party B Floating Rate Payer Payment Date will be reduced to the extent that, on such Party B Floating Rate Payer Payment Date, the amount of MTN Issuer Available Funds (Series 03-2 Class A), and hence the amount of Party B Available Funds (Series 03-2 Class A), is less than the Party B Floating Rate Amount calculated for such Party B Floating Rate Payer Payment Date (the amount of any such reduction, the "DEFERRED INTEREST AMOUNT" for that Party B Floating Rate Payer Payment Date). "MTN ISSUER AVAILABLE FUNDS (SERIES 03-2 CLASS A)" means, in relation to any Party B Floating Rate Payer Payment Date, the aggregate amount of Finance Charge Collections and Acquired Interchange that is distributed by the Receivables Trustee to Barclaycard Funding plc (the "MTN ISSUER") by the Receivables Trustee (and deposited in the Series 03-2 Distribution Account) on the related Distribution Date in respect of the Class A Monthly Finance Amount (provided that, for the avoidance of doubt, MTN Issuer Available Funds (Series 03-2 Class A) excludes any amounts distributed by the Receivables Trustee to the MTN Issuer in respect of Excess Finance Charge Amounts). "PARTY B AVAILABLE FUNDS (SERIES 03-2 CLASS A)" means, in relation to any Party B Floating Rate Payer Payment Date, the amount that is available to Party B for payment of the Party B Floating Rate Payer Payment Amount calculated for that Party B Floating Rate Payer Payment Date in accordance with the priority of payments set forth in the Trust Deed (provided that, for the avoidance of doubt, Party B Available Funds (Series 03-2 Class A) shall exclude any amounts received by Party B in respect of Further Interest on the Series 03-2 MTN Certificate). The obligation of Party A to pay the Party A Floating Rate Amount on any Party A Floating Rate Payer Payment Date will be reduced by an amount equal to the Party A Floating Rate Amount otherwise payable on such Party A Floating Rate Payer Payment Date (prior to any adjustment thereof in accordance with this Section 3.2) multiplied by the Reduction Ratio. The "REDUCTION RATIO" is a fraction equal to: Deferred Interest Amount -------------------------------- Aggregate Party B Payment Amount The "AGGREGATE PARTY B PAYMENT AMOUNT" is equal to the Party B Floating Rate Amount, before any adjustment thereof in accordance with the terms of the provisions of this Section 3.2, that would otherwise have been pay...
Interest Deferral. (a) Interest accrued on the Notes otherwise required to be paid in cash on July 15, 2017 shall instead be required to be paid in cash on January 31, 2018, plus interest accrued on such interest from July 15, 2017 to the date of payment thereof at a rate equal to 6.00% per annum plus 100 basis points.
Interest Deferral. Subject to the provisions of the following paragraphs, on each Interest Payment Date, the Issuer shall pay interest on the Securities accrued to (but excluding) that date in respect of the Interest Period ending immediately prior to such Interest Payment Date.
Interest Deferral. (A1) The obligation of Party B to pay the Party B Floating Rate Amount on any Party B Floating Rate Payer Payment Date will be reduced to the extent that, on such Party B Floating Rate Payer Payment Date, the amount of MTN Issuer Available Funds (Series 03-3 Class C), and hence the amount of Party B Available Funds (Series 03-3 Class C), is less than the Party B Floating Rate Amount calculated for such Party B Floating Rate Payer Payment Date (the amount of any such reduction, the "Deferred Interest Amount" for that Party B Floating Rate Payer Payment Date). "
Interest Deferral. (a) The Company shall have the option to defer interest payments on the Debentures as follows:
Interest Deferral. The Borrower may not defer interest payments on the Loans.
Interest Deferral. To the extent that the monies which are deposited to the Series Distribution Account for the relevant Series by the Receivables Trustee on an Interest Payment Date are insufficient to pay the full amount of interest on any Class of Notes, payment of the shortfall ("DEFERRED INTEREST"), which will be borne by each Note of the relevant Class, in a proportion equal to the proportion that the Principal Amount Outstanding of the relevant Class of Note bears to the aggregate Principal Amount Outstanding of all the Notes of the same Class (in each case as determined on the Interest Payment Date on which such Deferred Interest arises), will be deferred until the Interest Payment Date thereafter on which funds are available to the Issuer (by being paid to the Issuer by the Receivables Trustee on such Interest Payment Date) to pay such Deferred Interest to the extent of such available funds. Such Deferred Interest will accrue interest ("ADDITIONAL INTEREST") at the then applicable Interest Rate as adjusted by any Margin plus an additional margin of 2 per cent. per annum, and payment of any Additional Interest will also be deferred until the earlier of the Interest Payment Date thereafter on which funds are available to the Issuer to pay such Additional Interest to the extent of such available funds and the Series Termination Date as specified in the Applicable Supplement.
Interest Deferral. At or prior to the Effective Time, Company shall pay or cause to be paid all interest payments deferred on the Debt Securities and all distributions on the underlying capital securities with the effect that the interest payments on the Debt Securities and the distributions on the capital securities will be current at the Effective Time.
Interest Deferral. If, as a result of Section 3.1, the Corporation does not pay interest on any required payment date, then such interest will be deferred and not be due or payable until (i) the Corporation has paid all accrued interest on and other charges or expenses in connection with Senior Indebtedness, and (ii) the amount of outstanding obligations for principal to holders of Senior Indebtedness is equal to or less than (A) the maximum amount of outstanding obligations for principal due holders of Senior Indebtedness at any time after the issuance of this Note less (B) $21,500,000. If the Penalty Interest Provisions of Section 3.5 are waived, the deferred interest will not bear interest.
Interest Deferral. Section 2.02 of the Agreement is hereby amended and restated in its entirety as follows:
