Note Interest Accrual Accounts Sample Clauses

Note Interest Accrual Accounts. 2.6.1 On or prior to the Issue Date, the Company shall cause to be established with the Note Disbursement Agent a Dollar-denominated deposit account in Macau in the name of the Company, designated the “Note Interest Accrual Account” with the account number set forth in Exhibit C hereto and may thereafter open further term deposit accounts with the Note Disbursement Agent bearing the same designation, with any such further term deposit accounts opened prior to the Issue Date having the account number set forth in Exhibit C (together, the “Note Interest Accrual Accounts”). The Note Interest Accrual Accounts shall be used, following the Opening Date, for the receipt of monthly deposits of amounts of not less than one-sixth of the aggregate amount of interest due on the next interest payment date for the Notes (adjusted, for the first interest payment date following the Opening Date only, for any part month and any amounts that have been transferred to the Note Interest Accrual Accounts from the Note Interest Reserve Accounts). The Collateral Agent shall have a perfected security interest in the Note Interest Accrual Accounts, any Interest Payment Amount and any Other Amounts on deposit in such account on an exclusive basis for the benefit of the Trustee and the holders of the Notes pursuant to the Security Document. The Company shall maintain the Note Interest Accrual Accounts until they may be closed pursuant to the terms of the Security Document. Accrued interest earned on any amounts in the Note Interest Accrual Accounts shall be credited to, and remain in, the Note Interest Accrual Accounts and may be transferred among Note Interest Accrual Accounts and otherwise applied like other Note Interest Accrual Account balances in accordance with this Agreement.
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Note Interest Accrual Accounts. The Issuer shall, as soon as practicable and in any case prior to December 30, 2016: (i) establish the Note Interest Accrual Accounts; (ii) effect the pledge of each Note Interest Accrual Account for the benefit of holders of the 2019 Notes or the 2021 Notes, as applicable, in accordance with the terms of the applicable Indenture; and (iii) substantially concurrently with such pledge, cause the delivery of customary opinion of counsel in relation to such pledge to the Representative and the applicable Trustee, in form and substance satisfactory to the Representative and the applicable Trustee.
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Related to Note Interest Accrual Accounts

  • Interest Accrual Each Class of Notes will accrue interest on its Note Balance for each Interest Period until the Note Balance has been paid in full at a rate per annum equal to its Note Interest Rate for that Interest Period. Interest on the Class A-1 and Class A-2b Notes will be calculated for each Interest Period on the basis of the actual number of days in the Interest Period and a 360-day year. Interest on the Notes (other than the Class A-1 and Class A-2b Notes) for each Interest Period will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on each Note for each Interest Period will be due and payable on the related Payment Date.

  • Capitalized Interest Account On the Closing Date, the Issuer shall deposit the Capitalized Interest Account Initial Deposit into the Capitalized Interest Account.

  • Distributions and Interest Amount (i) Interest Rate. "

  • Interest Accruing Each interest-bearing Receivable is, as of the Cut-off Date, accruing interest. Documents Data tape Procedures to be Performed

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Interest Amount Unless otherwise specified in Paragraph 13 and subject to Paragraph 4(a), in lieu of any interest, dividends or other amounts paid or deemed to have been paid with respect to Posted Collateral in the form of Cash (all of which may be retained by the Secured Party), the Secured Party will Transfer to the Pledgor at the times specified in Paragraph 13 the Interest Amount to the extent that a Delivery Amount would not be created or increased by that Transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed to be a Valuation Date for this purpose). The Interest Amount or portion thereof not Transferred pursuant to this Paragraph will constitute Posted Collateral in the form of Cash and will be subject to the security interest granted under Paragraph 2.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

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