Monthly Interest Payments. Interest accrued on each Tranche as of the last day of each calendar month(“Monthly Interest Payments”) shall be:
(a) due and payable on the fifth calendar day of the following month; provided that if such date falls on a day other than a Saturday, Sunday or other day when banks are authorized or required to be closed in California, Minnesota, North Carolina or New York (a “Banking Day”), interest shall be due and payable on the next Banking Day; or
(b) with Lender’s consent, accrued on the fifth calendar day of the following month; provided that if such date falls on a day other than Banking Day, interest shall be accrued beginning on the next Banking Day, and compounded monthly until the principal balance of such Tranche is repaid, at which time such accrued and compounded interest shall be due and payable. The Minimum Advance requirement does not apply to interest accrued.
Monthly Interest Payments. Commencing on the twentieth day of ------------------------- the first month following the Closing, and continuing on the first day of each subsequent month through June, 1998, the Borrower shall make monthly Interest payments from sources other than License Payments and exploitation of the Products. Interest on the Undisputed Principal shall be paid directly to the Bank. Interest on the full amount of the fees and costs as asserted by the Bank as of the Closing shall be paid into a separate account maintained at the Bank and designated as the "Interest Impound Account" pending the determination of the Supplemental Principal amount under section 2.3 hereof.
Monthly Interest Payments. On the Closing Date, Borrower shall make a payment to Lender equal to the sum of (i) interest accrued during the First Interest Period. Thereafter, commencing on April 1, 2016 ("First Payment Due Date") and on the first (1st) day of each month thereafter (each a "Payment Due Date") until all principal and interest and other amounts due under the Loan Documents are paid in full, Borrower shall pay to Lender monthly payments of interest only in an amount equal to the monthly interest accrued on the Loan for the preceding Interest Period at the applicable Interest Rate (each a "Monthly Interest Payment"). Borrower agrees that if Loan proceeds are wired for the Loan closing, interest begins accruing from the date Loan proceeds are wired into escrow or funded into one or more of the reserve or impound accounts, regardless of whether the Closing Date occurs on the same date or a later date. For the avoidance of doubt, any Loan proceeds deposited in a reserve or impound pursuant to this Agreement shall begin accruing interest from the date such proceeds are disbursed into such reserve or impound.
Monthly Interest Payments. Maker shall pay Payee all accrued interest on the first (1st) day of each calendar month, beginning with the payment due on the first day of the first calendar month following the Closing Date of the Acquisition, and ending on the Maturity Date (each such payment, a “Monthly Interest Payment”). For the avoidance of doubt, during the period between such Closing Date and the Maturity Date, the payments are “interest only.” Attached as Attachment 1 is a schedule of the Monthly Interest Payment dates and amounts.
Monthly Interest Payments. Commencing on September 1, 1991 and continuing on the first (1st) day of each and every month thereafter through and including June 1, 2000, all interest accrued at the Basic Interest Rate shall be due and payable monthly in arrears."
Monthly Interest Payments. Interest on the principal amount outstanding under the Line of Credit Note shall be payable monthly in arrears commencing on August 1, 2009 and on the first day of each month thereafter, until all principal, interest and other amounts owing under the Line of Credit Note have been paid in full.
Monthly Interest Payments. Beginning on October 31, 2020, and on the last day of each and every calendar month thereafter (the “Monthly Payment Dates” and each a “Monthly Payment Date”) throughout the term of this Note and while any principal is outstanding, Borrower shall make monthly interest payments under this Note to Lender (the “Monthly Interest Payments” and each a “Monthly Interest Payment”), as described below. The Monthly Interest Payment amount for the interest payment due on each Monthly Payment Date shall consist of the interest accrued on the unpaid principal Loan Amount due under the Note during the calendar month ending on the applicable Monthly Payment Date, calculated on a daily basis using a 365 day year (the “Monthly Interest Amount”). For example purposes only and for clarification and avoidance of doubt, the initial Monthly Interest Amount shall be the interest accrued on the unpaid principal Loan Amount due under the Note during the 31 days of October
Monthly Interest Payments. Section 2 of the Ninth Amendment regarding Monthly Interest Payments of the Note is amended and replaced, in its entirety, by Section 1 of this Tenth Amendment with reference to “Section 3(b)”.
Monthly Interest Payments. Commencing on April 1, 2016 ("First Payment Due Date") and on the first (1st) day of each month thereafter (each a "Payment Due Date") until all principal and interest and other amounts due under the Loan Documents are paid in full, Borrower shall pay to Lender monthly payments of interest only in an amount equal to the monthly interest accrued on the Loan for the preceding Interest Period at the applicable Interest Rate (each a "Monthly Interest Payment"). Borrower agrees that if Loan proceeds are wired for the Loan closing, interest begins accruing from the date Loan proceeds are wired into escrow or funded into one or more of the reserve or impound accounts, regardless of whether the Closing Date occurs on the same date or a later date. For the avoidance of doubt, any Loan proceeds deposited in a reserve or impound pursuant to this Agreement shall begin accruing interest from the date such proceeds are disbursed into such reserve or impound.
Monthly Interest Payments. The Company agrees to make interest payments (the “Interest Payments”) in cash on the outstanding principal balance each month on the anniversary of the Financing Agreement during the term of the agreement. At the option of the Holder, Interest Payments may be added to the Face Amount to fund replacement Purchase Orders provided as Collateral under Section 1.2 of this Financing Agreement. If there is no outstanding balance on a given month, then no interest payment will be made, provided the Minimum Interest has already been paid to Holder.
