Interest Payment Frequency Interest Payment Dates Sample Clauses
The 'Interest Payment Frequency and Interest Payment Dates' clause defines how often and on which specific dates interest payments are due on a financial obligation, such as a loan or bond. Typically, this clause will specify whether interest is paid monthly, quarterly, semi-annually, or annually, and will list the exact calendar dates when payments must be made. By clearly outlining the timing and regularity of interest payments, this clause ensures both parties have a mutual understanding of payment expectations, reducing the risk of missed payments or disputes over payment schedules.
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Interest Payment Frequency Interest Payment Dates. Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of every third month, beginning in the third calendar month following the month this Note was issued. Semi-annually Fifteenth day of every sixth month, beginning in the sixth calendar month following the month this Note was issued. Annually Fifteenth day of every twelfth month, beginning in the twelfth calendar month following the month this Note was issued. Unless otherwise specified above, the Regular Record Date for any interest payment date shall be the first day of the calendar month in which the interest payment date occurs, except that the Regular Record Date for interest due on this Note’s stated maturity date or date of earlier redemption or repayment shall be that particular date. If any interest payment date other than the maturity date falls on a day that is not a Business Day, such interest payment date shall be postponed to the following Business Day, except that, if this is a LIBOR Note or a floating rate Note for which LIBOR is an applicable base rate, if that Business Day falls in the next succeeding calendar month, the interest payment date shall be the immediately preceding Business Day. If the maturity date falls on a day that is not a Business Day, the related payment of principal, premium, if any, and interest shall be made on the next Business Day as if it were made on the date that payment was due, and no interest shall accrue for the period from that maturity date to the date of payment. Except as otherwise provided in the Indenture, any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Notes of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture.
Interest Payment Frequency Interest Payment Dates. Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of every third calendar month, beginning in the third calendar month following the month this Note was issued. Semi-annual Fifteenth day of every sixth calendar month, beginning in the sixth calendar month following the month this Note was issued. Annual Fifteenth day of every twelfth calendar month, beginning in the twelfth calendar month following the month this Note was issued.
Interest Payment Frequency Interest Payment Dates. Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of each March, June, September and December, beginning on the first such date following the date this Note was issued. Semi-annual Fifteenth day of the two months of each year specified on the face hereof, beginning on the first such date following the date this Note was issued. Annual Fifteenth day of the month of each year specified on the face hereof, beginning on the first such date following the date this Note was issued.
Interest Payment Frequency Interest Payment Dates. Monthly: 15th day of each calendar month, beginning in the first calendar month following the month in which the Note was issued. Quarterly: 15th day of every third month, beginning in the third calendar month following the month in which the Note was issued. Semiannually: 15th day of every sixth month, beginning in the sixth calendar month following the month in which the Note was issued. Annually: 15th day of every twelfth month, beginning in the twelfth calendar month following the month in which the Note was issued. Calculation of Interest: Interest on each Note (including payments for partial periods) will be calculated on the basis of a 360-day year of twelve 30-day months.