Common use of Interest Payment or Accrual Clause in Contracts

Interest Payment or Accrual. (i) During the Deferred Interest Period, accrued and unpaid interest on the Principal of the Original Loan shall be added to the aggregate principal amount of the Original Loan as of the close of business on each Quarterly Payment Date (the “Deferred Interest Portion”) commencing with the Quarterly Payment Date on March 31, 2001. At the expiration of the Deferred Interest Period, the entire Deferred Interest Portion shall be payable upon demand. Thereafter, accrued interest shall be due and payable quarterly in arrears on each Quarterly Payment Date. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the Original Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(i) to the Original Loan is set forth on Schedule 2.3(b)(i) attached hereto. (ii) During the Deferred Interest Period, accrued interest on the Principal of the First Amendment Loans shall be added to the Principal of the First Amendment Loans as of the close of business on the Quarterly Payment Date. Thereafter, accrued interest shall be due and payable in arrears on each Quarterly Payment Date. The Principal amount of the First Amendment Loans, including all amounts added thereto pursuant to this Section 2.3(b)(ii), shall be payable in accordance with Section 2.2 hereof. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the First Amendment Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(ii) to the First Amendment Loans is set forth on Schedule 2.3(b)(ii) attached hereto.

Appears in 1 contract

Samples: Senior Subordinated Loan Agreement (Clarion Technologies Inc/De/)

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Interest Payment or Accrual. (i) During the Deferred Interest Period, accrued and unpaid interest on the Principal of the Original Loan shall be added to the aggregate principal amount of the Original Loan as of the close of business on each Quarterly Payment Date (the "Deferred Interest Portion") commencing with the Quarterly Payment Date on March 31, 2001. At the expiration of the Deferred Interest Period, the entire Deferred Interest Portion shall be payable upon demand. Thereafter, accrued interest shall be due and payable quarterly in arrears on each Quarterly Payment Date. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the Original Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(i) to the Original Loan is set forth on Schedule 2.3(b)(i) attached hereto. (ii) During the Deferred Interest Period, accrued interest on the Principal of the First Amendment Loans shall be added to the Principal of the First Amendment Loans as of the close of business on the Quarterly Payment Date. Thereafter, accrued interest shall be due and payable in arrears on each Quarterly Payment Date. The Principal amount of the First Amendment Loans, including all amounts added thereto pursuant to this Section 2.3(b)(ii), shall be payable in accordance with Section 2.2 hereof. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the First Amendment Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(ii) to the First Amendment Loans is set forth on Schedule 2.3(b)(ii) attached hereto.

Appears in 1 contract

Samples: Senior Subordinated Loan Agreement (William Blair Mezzanine Capital Fund Iii L P)

Interest Payment or Accrual. (i) During the Deferred Interest Period, accrued and unpaid interest on the Principal of the Original Loan shall be added to the aggregate principal amount of the Original Loan as of the close of business on each Quarterly Payment Date (the “Deferred Interest Portion”) commencing with the Quarterly Payment Date on March 31, 2001. At the expiration of the Deferred Interest Period, the entire Deferred Interest Portion shall be payable upon demand. Thereafter, accrued interest shall be due and payable quarterly in arrears on each Quarterly Payment Date. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the Original Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(i) to the Original Loan is set forth on Schedule 2.3(b)(i) attached hereto. (ii) During the Deferred Interest Period, accrued interest on the Principal of the First Amendment Loans shall be added to the Principal of the First Amendment Loans as of the close of business on the Quarterly Payment Date. Thereafter, accrued interest shall be due and payable in arrears on each Quarterly Payment Date. The Principal amount of the First Amendment Loans, including all amounts added thereto pursuant to this Section 2.3(b)(ii), shall be payable in accordance with Section 2.2 hereof. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the First Amendment Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(ii) to the First Amendment Loans is set forth on Schedule 2.3(b)(ii) attached hereto. (iii) During the Deferred Interest Period, accrued interest on the Principal of the Second Amendment Loans shall be added to the Principal of the Second Amendment Loans as of the close of business on the Quarterly Payment Date. Thereafter, accrued interest shall be due and payable in arrears on each Quarterly Payment Date. The Principal amount of the Second Amendment Loans, including all amounts added thereto pursuant to this Section 2.3(b)(iii), shall be payable on June 30, 2004. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the Second Amendment Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(iii) to the Second Amendment Loans is set forth on Schedule 2.3(b)(iii) attached hereto.

Appears in 1 contract

Samples: Senior Subordinated Loan Documents (Clarion Technologies Inc/De/)

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Interest Payment or Accrual. (i) During the Deferred Interest Period, accrued and unpaid interest on the Principal of the Original Loan shall be added to the aggregate principal amount of the Original Loan as of the close of business on each Quarterly Payment Date (the "Deferred Interest Portion") commencing with the Quarterly Payment Date on March 31, 2001. At the expiration of the Deferred Interest Period, the entire Deferred Interest Portion shall be payable upon demand. Thereafter, accrued interest shall be due and payable quarterly in arrears on each Quarterly Payment Date. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the Original Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(i) to the Original Loan is set forth on Schedule 2.3(b)(i) attached hereto. (ii) During the Deferred Interest Period, accrued interest on the Principal of the First Amendment Loans shall be added to the Principal of the First Amendment Loans as of the close of business on the Quarterly Payment Date. Thereafter, accrued interest shall be due and payable in arrears on each Quarterly Payment Date. The Principal amount of the First Amendment Loans, including all amounts added thereto pursuant to this Section 2.3(b)(ii), shall be payable in accordance with Section 2.2 hereof. In addition, all accrued and unpaid interest shall be paid upon the payment in full of the Principal of the First Amendment Loan and, if payment in full is not made when due, thereafter on demand. For illustration purposes only, an interest calculation reflecting the application of this Section 2.3(b)(ii) to the First Amendment Loans is set forth on Schedule 2.3(b)(ii) attached hereto. (iii) During the Deferred Interest Period, accrued interest on the Principal of the Second Amendment Loans shall be added to the Principal of the Second Amendment Loans as of the close of business on the Quarterly Payment Date. Thereafter, accrued interest shall be due and payable in arrears on each Quarterly Payment Date. The Principal amount of the Second Amendment Loans, including all amounts added thereto pursuant to this Section 2.3(b)(iii), shall be payable on June 30,

Appears in 1 contract

Samples: Senior Subordinated Loan Documents (William Blair Mezzanine Capital Fund Iii L P)

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