Interest Payable on Series 2002-1 Notes Sample Clauses

Interest Payable on Series 2002-1 Notes. The Initial Interest Rate Adjustment Dates for each series of Series 2002-1 Notes shall be (i) with respect to the Series 2002-1A Notes, October 18, 2002, and (ii) with respect to the Series 2002-1B Notes and the Series 2002-1C Notes, October 25, 2002. During the Initial Interest Period, each series of Series 2002-1 Notes shall bear interest at the Series 2002-1 Note Initial Interest Rate for such series. Thereafter, except with respect to an Auction Period Adjustment, the Series 2002-1 Notes shall bear interest at a Series 2002-1 Note Auction Rate based on a 28-day Auction Period, as determined pursuant to this Section 3 and Sections 4 through 12 hereof. The Series 2002-1 Note Auction Rate to be borne by each series of Series 2002-1 Notes after such Initial Interest Period for each Auction Period until an Auction Period Adjustment, if any, shall be determined as hereinbelow described. Each such Auction Period shall commence on and include the Thursday (or, if such Thursday is not a Business Day, the next succeeding Business Day) following the expiration of the immediately preceding Auction Period and terminate on and include the last day immediately preceding the Thursday (or, if such Thursday is not a Business Day, the next succeeding Business Day) of the fourth following week; provided, however, that in the case of the Auction Period that immediately follows the Initial Interest Period for a series of Series 2002-1 Notes, such Auction Period shall commence on the Initial Interest Rate Adjustment Date for such series. The Series 2002-1 Note Auction Rate on each series of Series 2002-1 Notes for each Auction Period shall be the lesser of (i) the Net Loan Rate in effect for such Auction Period, and (ii) the Auction Rate in effect for such Auction Period as determined in accordance with Section 4 hereof; provided that if, on any Interest Rate Determination Date, an Auction is not held for any reason, then the Series 2002-1 Note Auction Rate on such series for the next succeeding Auction Period shall equal the lesser of (a) the Maximum Auction Rate and (b) the Net Loan Rate. Notwithstanding the foregoing:
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Related to Interest Payable on Series 2002-1 Notes

  • Calculation of Principal Amount of Notes The aggregate principal amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so consented, by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, and Section 13.06 of this Indenture. Any calculation of the Applicable Premium made pursuant to this Section 2.13 shall be made by the Company and delivered to the Trustee pursuant to an Officers’ Certificate.

  • Repayment of Notes Each of the parties hereto agrees that all repayments of the Notes (including any accrued interest thereon) by the Company (other than by conversion of the Notes) will be paid pro rata to the holders thereof based upon the principal amount then outstanding to each of such holders.

  • Requirements of Series Supplement Such other funds, accounts, documents, certificates, agreements, instruments or opinions as may be required by the terms of the Series Supplement.

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

  • Designation Amount and Issue of Notes The Notes shall be designated as “Tranche B Zero Coupon Guaranteed Senior Unsecured Notes”. Notes not to exceed the aggregate principal amount of $84,000,000 (except pursuant to Sections 2.05 and 2.06 hereof) upon the execution of this Indenture, or from time to time thereafter, may be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall thereupon authenticate and deliver said Notes to or upon the written order of the Company, signed by its Chairman of the Board, Chief Executive Officer, President or any Vice President (whether or not designated by a number or numbers or word or words added before or after the title “Vice President”), the Treasurer or any Assistant Treasurer or the Secretary or Assistant Secretary, without any further action by the Company hereunder.

  • Class B Notes On each Distribution Date occurring on or after the date a withdrawal is made from the Series 2015-3 Collection Account pursuant to Section 3.5(a) or amounts are deposited in the Series 2015-3 Distribution Account pursuant to Section 3.5(c) and/or (d), the Paying Agent shall, in accordance with Section 6.1 of the Base Indenture, pay to the Administrative Agent for the accounts of the Purchaser Groups from the Series 2015-3 Distribution Account the amount deposited therein pursuant to Section 3.5(a), (c) and/or (d) less the aggregate amount applied to make payments required pursuant to Section 3.5(e)(i), to the extent necessary to pay the Class B Controlled Distribution Amount with respect to Related Month during the Class B Controlled Amortization Period or to the extent necessary to pay the Class B Invested Amount during the Series 2015-3 Rapid Amortization Period.

  • Distribution of Interest Payments by Issuing Lender Promptly upon receipt by any Issuing Lender of any payment of interest pursuant to subsection 3.3D(i) with respect to a drawing honored under a Letter of Credit issued by it, (a) such Issuing Lender shall distribute to each other Lender, out of the interest received by such Issuing Lender in respect of the period from the date such drawing is honored to but excluding the date on which such Issuing Lender is reimbursed for the amount of such drawing (including any such reimbursement out of the proceeds of Revolving Loans pursuant to subsection 3.3B), the amount that such other Lender would have been entitled to receive in respect of the letter of credit fee that would have been payable in respect of such Letter of Credit for such period pursuant to subsection 3.2 if no drawing had been honored under such Letter of Credit, and (b) in the event such Issuing Lender shall have been reimbursed by other Lenders pursuant to subsection 3.3C(i) for all or any portion of such honored drawing, such Issuing Lender shall distribute to each other Lender which has paid all amounts payable by it under subsection 3.3C(i) with respect to such honored drawing such other Lender's Pro Rata Share of any interest received by such Issuing Lender in respect of that portion of such honored drawing so reimbursed by other Lenders for the period from the date on which such Issuing Lender was so reimbursed by other Lenders to but excluding the date on which such portion of such honored drawing is reimbursed by Company. Any such distribution shall be made to a Lender at its primary address set forth below its name on the appropriate signature page hereof or at such other address as such Lender may request.

  • Designation of Additional Amounts to Be Included in the Excess Spread Amount for the DiscoverSeries Notes At any time that any outstanding Series of certificates issued by the Master Trust provides that the Series Principal Collections allocated to such Series will be deposited into the Group Finance Charge Collections Reallocation Account for the Master Trust to the extent necessary for application to cover shortfalls for other Series issued by the Master Trust, an amount equal to (x) all Series Principal Collections allocated to such Series, multiplied by (y) a fraction, the numerator of which is the sum of the Nominal Liquidation Amounts for each outstanding Tranche of the DiscoverSeries Notes (including these notes) and the denominator of which is (i) the Aggregate Investor Interest for the Master Trust minus (ii) the sum of the Series Investor Interests for all such Series that provide that the Series Principal Collections allocated to such Series will be so deposited, is hereby designated to be included in the Excess Spread Amount and shall be treated as Series Finance Charge Amounts for the DiscoverSeries.

  • Prepayment of Notes No prepayment of the Notes may be made except to the extent and in the manner expressly provided in this Agreement.

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