Interest on the Senior Notes Clause Samples
The 'Interest on the Senior Notes' clause defines the terms under which interest accrues and is paid on the senior notes issued under an agreement. It typically specifies the interest rate, the frequency of interest payments (such as semi-annually or annually), and the calculation method for interest accrual. For example, it may state that interest is calculated on the outstanding principal amount and paid to noteholders on predetermined dates. This clause ensures that both the issuer and the holders of the senior notes have a clear understanding of the financial obligations regarding interest, thereby reducing the risk of disputes and ensuring predictable cash flows for investors.
Interest on the Senior Notes. Interest shall accrue from the date set forth, and shall be payable on the Senior Notes in the amount and as otherwise set forth, in the form of such Senior Note appearing in Article VI of this Fifth Supplemental Indenture.
Interest on the Senior Notes. (a) The 2028 Senior Notes will bear interest at the rate of 4.550% per annum and the 2033 Senior Notes will bear interest at the rate of 5.400% per annum, in each case, accruing from March 12, 2026, or from the most recent Interest Payment Date through which interest has been paid or duly provided for with respect to the applicable series of Senior Notes.
(b) Interest on the Senior Notes will be payable semi-annually:
(i) with respect to the 2028 Senior Notes, on each March 15 and September 15 (each such date, a “2028 Senior Notes Interest Payment Date”), beginning on September 15, 2026, until the principal amount has been paid or made available for payment, to Holders at the close of business on March 1 or September 1 (whether or not a Business Day), as the case may be, immediately preceding the applicable 2028 Senior Notes Interest Payment Date (each such date, a “2028 Senior Notes Regular Record Date”); and
(ii) with respect to the 2033 Senior Notes, on each March 15 and September 15 (each such date, a “2033 Senior Notes Interest Payment Date,” and, together with each 2028 Senior Notes Interest Payment Date, an “Interest Payment Date”), beginning on September 15, 2026, until the principal amount has been paid or made available for payment, to Holders at the close of business on March 1 or September 1 (whether or not a Business Day), as the case may be, immediately preceding the applicable 2033 Senior Notes Interest Payment Date (each such date, a “2033 Senior Notes Regular Record Date,” and, together with each 2028 Senior Notes Regular Record Date, a “Regular Record Date”).
(c) If any Interest Payment Date, Stated Maturity or Redemption Date falls on a day that is not a Business Day, the payment due on such date will be made on the next Business Day, and no interest will accrue for the period from and after such Interest Payment Date, Stated Maturity or Redemption Date.
(d) Interest on the Senior Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full monthly period shall be computed on the basis of the actual number of calendar days elapsed in such period.
Interest on the Senior Notes. (a) The Senior Notes will bear interest at the rate of 1.200% per annum, accruing from February 26, 2021, or from the most recent Interest Payment Date through which interest has been paid or duly provided for.
(b) Interest on the Senior Notes will be payable semi-annually on each March 1 and September 1 (each such date, an “Interest Payment Date”), beginning on September 1, 2021, until the principal amount has been paid or made available for payment, to Holders at the close of business on February 15 or August 15 (whether or not a Business Day), as the case may be, immediately preceding the applicable Interest Payment Date (each such date, a “Regular Record Date”).
(c) If any Interest Payment Date, Stated Maturity or Redemption Date falls on a day that is not a Business Day, the payment due on such date will be made on the next Business Day, and no interest will accrue for the period from and after such Interest Payment Date, Stated Maturity or Redemption Date.
(d) Interest on the Senior Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full monthly period shall be computed on the basis of the actual number of calendar days elapsed in such period.
Interest on the Senior Notes. (a) The Senior Notes will bear interest at the rate of 5.500% per annum from June 13, 2025, or from the most recent Interest Payment Date through which interest has been paid or duly provided for.
(b) Interest on the Senior Notes will be payable semi-annually in arrears on June 13 and December 13 of each year (each such date, an “Interest Payment Date”), beginning on December 13, 2025, until the principal amount has been paid or made available for payment, to Holders of record at the close of business on June 1 or December 1, as the case may be, immediately preceding the applicable Interest Payment Date, whether or not a Business Day (each such date, a “Regular Record Date”). The rights of Holders of beneficial interests of Senior Notes to receive the payments of interest on the Senior Notes are subject to the applicable procedures of the Depositary.
(c) If any Interest Payment Date, Stated Maturity or Redemption Date falls on a day that is not a Business Day, the payment will be made on the next Business Day, and no interest will accrue for the period from and after such Interest Payment Date, Stated Maturity or Redemption Date.
(d) Interest on the Senior Notes will be computed on the basis of a 360-day year consisting of twelve 30-day months. The amount of interest payable for any period shorter than a full monthly period shall be computed on the basis of the actual number of calendar days elapsed in such period.
(e) Claims against the Company for payment of principal, premium, if any, and interest on the Senior Notes will become void unless presentment for payment is made (where so required under the Indenture) within, in the case of principal and premium, if any, a period of ten years or, in the case of interest, a period of five years, in each case from the applicable original date of payment therefor.
Interest on the Senior Notes