Payment of Current Interest Sample Clauses

Payment of Current Interest. Current Interest accrued under the Term Loan Facility is due and payable quarterly in arrears on the last calendar day of each quarter and also, at the option of Administrative Agent, on the last calendar day of each Interest Period for any Portion accruing interest at an Adjusted LIBO Rate. Such payments shall commence on the first such date after the Closing Date. Upon prior written notice of at least 30 calendar days from Administrative Agent to Borrowers, Administrative Agent may change the date during a quarter on which such payments are due and payable.
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Payment of Current Interest. The Company shall pay to --------------------------- Holders in U.S. Legal Tender on each interest payment date the maximum amount of the Current Interest then outstanding, which amount would not, after giving effect to the payment thereof on a pro forma basis as if paid on such interest payment date, decrease the Company's pro forma Current Interest Coverage Ratio for the four fiscal quarters most recently ended prior to such interest payment date, below 2.0 to 1.0. If, as a result of the limitation contained in the preceding sentence, or because the distribution of funds to the Company to make such payment would otherwise cause or result in a default or event of default under the Credit Facility or would not be permitted under applicable law, the Company is unable to pay all Current Interest otherwise due on an interest payment date, then the Company shall not be required to pay the portion of such interest that is in excess of the maximum amount permitted by the applicable limitation on such interest payment date, and the unpaid portion shall instead accrue interest at the annual interest rate borne by the Notes, compounding semiannually. To the extent that the Company is permitted to pay less than all of the then-outstanding Current Interest to Holders pursuant to this subsection (a), it shall pay, in U.S. Legal Tender to the Holders, such Current Interest pro rata in accordance with their respective Pro Rata Portions. Any Accumulated Interest shall be paid in U.S. Legal Tender, to the extent permitted by subsection (b) below, on the next interest payment date.
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Payment of Current Interest. Checkers acknowledges that the annual interest rate on the Note is currently 18%, and agrees that the Note shall continue to bear interest at an annual rate of 18% until the Closing Date. Until the Closing Date, Checkers shall continue to pay to NTDT on the first day of each month an amount in cash equal to the interest due under the Note for the preceding month. On the Closing Date, Checkers shall pay in cash the interest accrued through the Closing Date on the Note. Following the Closing Date, the New Notes shall bear interest at an annual rate of 18% until their conversion into Common Stock. Checkers shall pay to NTDT on the first day of each month an amount in cash equal to the interest due under the New Notes for the preceding month.
Sample 1
Payment of Current Interest. Interest (other than Deferred Interest) accrued under the Term Loan Facility is due and payable monthly in arrears on the last calendar day of each month and also, at the option of Administrative Agent, on the last calendar day of each Interest Period for any Portion accruing interest at an Adjusted LIBO Rate. Such payments shall commence on the first such date after the Closing Date. For the avoidance of doubt, this means that accrued interest (other than Deferred Interest) shall be due and payable from time to time on a current basis only to the extent of the following rates: (i) an Adjusted LIBO Rate plus 8.0% per annum for Portions accruing interest at an Adjusted LIBO Rate and (ii) the Prime Rate plus 6.0% per annum for Portions accruing interest at the Prime Rate. Upon prior written notice of at least 30 calendar days from Administrative Agent to Borrowers, Administrative Agent may change the date during a month on which such payments are due and payable.
Sample 1
Payment of Current Interest. Beginning on November 1, 1995, and on the first day of each month thereafter, Checkers shall pay to Rall-Folks an amount exxxx to the interest due under the Notes for the preceding month.
Sample 1
Payment of Current Interest. Current Interest accrued under the Term Loan Facility is due and payable monthly in arrears on the last calendar day of each month and also, at the option of Administrative Agent, on the last calendar day of each Interest Period for any Portion accruing interest at an Adjusted LIBO Rate. Upon prior written notice of at least 30 calendar days from Administrative Agent to Borrowers, Administrative Agent may change the date during a month on which such payments are due and payable. Administrative Agent, at the election of the Required Lenders, may at any time apply an Advance under Tranche B from the Interest Reserve to pay current interest due unless Borrowers shall make payment thereof as and when due and payable.
Sample 1

Related to Payment of Current Interest

  • 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.

  • Payment; Interest Computation Interest is payable monthly on the first calendar day of each month and shall be computed on the basis of a 360-day year for the actual number of days elapsed. In computing interest, (i) all payments received after 12:00 p.m. Pacific time on any day shall be deemed received at the opening of business on the next Business Day, and (ii) the date of the making of any Credit Extension shall be included and the date of payment shall be excluded; provided, however, that if any Credit Extension is repaid on the same day on which it is made, such day shall be included in computing interest on such Credit Extension.

  • Net WAC Rate Carryover Reserve Account No later than the Closing Date, the Trust Administrator shall establish and maintain with itself a separate, segregated trust account titled, “Xxxxx Fargo Bank, N.A. as Trust Administrator, in trust for the registered holders of MASTR Asset Backed Securities Trust 2006-WMC1, Mortgage Pass-Through Certificates, Series 2006-WMC1—Net WAC Rate Carryover Reserve Account.” All amounts deposited in the Net WAC Rate Carryover Reserve Account shall be distributed to the Holders of the Class A Certificates and/or the Mezzanine Certificates in the manner set forth in Section 4.01. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates and/or the Mezzanine Certificates, the Trust Administrator has been directed by the Class CE Certificateholders to, and therefore will, deposit into the Net WAC Rate Carryover Reserve Account the amounts described in Section 4.01(e)(v), rather than distributing such amounts to the Class CE Certificateholders. On each such Distribution Date, the Trust Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and/or the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(a). It is the intention of the parties hereto that, for federal and state income and state and local franchise tax purposes, the Net WAC Rate Carryover Reserve Account be disregarded as an entity separate from the Holder of the Class CE Certificates unless and until the date when either (a) there is more than one Class CE Certificateholder or (b) any Class of Certificates in addition to the Class CE Certificates is recharacterized as an equity interest in the Net WAC Rate Carryover Reserve Account for federal income tax purposes, in which case it is the intention of the parties hereto that, for federal and state income and state and local franchise tax purposes, the Supplemental Interest Trust be treated as a grantor trust. All amounts deposited into the Net WAC Rate Carryover Reserve Account shall be treated as amounts distributed by REMIC III to the Holder of the Class CE Interest and by REMIC IV to the Holder of the Class CE Certificates. The Net WAC Rate Carryover Reserve Account will be an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of the Trust, or the payment in full of the Class A and the Mezzanine Certificates, all amounts remaining on deposit in the Net WAC Rate Carryover Reserve Account will be released by the Trust and distributed to the Seller or its designee. The Net WAC Rate Carryover Reserve Account will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A and the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class CE Certificate, each Class CE Certificateholder hereby agrees to direct the Trust Administrator, and the Trust Administrator hereby is directed, to deposit into the Net WAC Rate Carryover Reserve Account the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class CE Certificateholders. By accepting a Class CE Certificate, each Class CE Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. Amounts on deposit in the Net WAC Rate Carryover Reserve Account shall remain uninvested.

  • Date and Denomination of Notes; Payments of Interest and Defaulted Amounts (a) The Notes shall be issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof. Each Note shall be dated the date of its authentication and shall bear interest from the date specified on the face of such Note. Accrued interest on the Notes shall be computed on the basis of a 360-day year composed of twelve 30-day months and, for partial months, on the basis of the number of days actually elapsed in a 30-day month.

  • Interest Due Without limiting any other rights or remedies available to either Party, each Party shall pay the other interest on any payments that are not paid on or before the date such payments are due under this Agreement at a rate of [*] per annum or the maximum applicable legal rate, if less, calculated on the total number of days payment is delinquent.

  • Late Charge; Interest Tenant acknowledges that the late payment of Base Rent or any other amounts payable by Tenant to Landlord hereunder (all of which shall constitute additional rental to the same extent as Base Rent) will cause Landlord to incur administrative costs and other damages, the exact amount of which would be impracticable or extremely difficult to ascertain. Landlord and Tenant agree that if Landlord does not receive any such payment on or before five (5) days after the date the payment is due, Tenant shall pay to Landlord, as additional rent, (a) a late charge equal to five percent (5%) of the overdue amount to cover such additional administrative costs; and (b) interest on the delinquent amounts at the lesser of the maximum rate permitted by law if any or twelve percent (12%) per annum from the date due to the date paid.

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

  • Prepayment Fee The Prepayment Fee, when due hereunder, to be shared between the Lenders in accordance with their respective Pro Rata Shares; and

  • 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.

  • Payments of Principal and Interest Prepayments Fees Section 3.01 Repayment of Loans 35 Section 3.02 Interest 35 Section 3.03 Alternate Rate of Interest 36 Section 3.04 Prepayments 37 Section 3.05 Fees 38 ARTICLE IV PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS

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