Common use of Interest Shortfall Clause in Contracts

Interest Shortfall. 8.1 If on any CBC Payment Date the CBC has insufficient funds available to satisfy its obligations to pay the full amount of interest that would have been due on the Subordinated Loan, the amount available (if any) shall be applied to pay interest on such Subordinated Loan, subject to Clause 8.2. 8.2 In the event of a shortfall as described in Clause 8.1, such shortfall shall not be treated as due on that CBC Payment Date for the purposes of this Agreement, but shall accrue interest as long as it remains outstanding at the rate of interest applicable to the Subordinated Loan for such period, and such shortfall and accrued interest thereon will be aggregated as if it were interest due on the next succeeding CBC Payment Date and the CBC, or the Administrator on its behalf, shall credit the Subordinated Loan Interest Deficiency Ledger pursuant to Clause 6 of the Administration Agreement with the amount of such shortfall.

Interest Shortfall. 8.1 If on any CBC Payment Date the CBC has insufficient funds available to it to satisfy its obligations to pay the full amount of interest that would have been due on the Subordinated LoanLoan but for Clause 8.2, the amount available (if any) shall be applied to pay interest on such Subordinated Loan, subject to Clause 8.2. 8.2 In the event of a shortfall as described in Clause 8.1, such shortfall shall not be treated as due on that CBC Payment Date for the purposes of this Agreement, but shall accrue interest as long as it remains outstanding at the rate of interest applicable to the Subordinated Loan for such period, and such shortfall and accrued interest thereon will be aggregated as if it were interest due on the next succeeding CBC Payment Date and the CBC, or the Administrator on its behalf, shall credit the Subordinated Loan Interest Deficiency Ledger pursuant to Clause 6 of the Administration Agreement with the amount of such shortfall.

Interest Shortfall. 8.1 8.1. If on any CBC Payment Date the CBC has insufficient funds available to it to satisfy its obligations to pay the full any amount of interest that would have been due on the Subordinated Loan, the amount available (if any) shall be applied to pay the amount of interest due on such Subordinated Loan, subject to Clause 8.2. 8.2 8.2. In the event of a shortfall as described in Clause 8.1, such shortfall shall not be treated as due on that CBC Payment Date for the purposes of this Agreement, but shall accrue interest as long as it remains outstanding at the rate of interest applicable to the Subordinated Loan for such period, and such shortfall and accrued interest thereon will be aggregated as if it were interest due on the next succeeding CBC Payment Date and the CBC, or the Administrator on its behalf, shall credit the Subordinated Loan Interest Deficiency Ledger pursuant to Clause 6 of the Administration Agreement with the amount of such shortfall.