Payment of Interest Component Sample Clauses

Payment of Interest Component. The Authority shall pay the Bank interest at the Purchased Bond Rate on the amount of the Interest Component, if any, included in the Purchase Price from the Purchase Date until, and the Interest Component (together with interest thereon) shall be due and payable on, the earliest of (i) the Interest Payment Date next succeeding the Purchase Date, (ii) the date on which such Purchased Bonds are remarketed, paid at maturity or redeemed or (iii) the last day of the Purchase Period. Alternatively, the Bank may, in its sole discretion, require the Authority to pay the amount of such Interest Component (together with interest thereon) to the Bank not later than the second Business Day next following the date on which written notice from the Bank of such requirement and the amount thereof is received by the Authority. The Bank and any Purchased Bondholder, by acceptance of the Purchased Bonds, acknowledges that the obligation of the Authority to pay interest on the Interest Component pursuant to this Section 2.05(e) or to pay the Interest Component on a date other than the scheduled Interest Payment Date is not insured under the terms of the Bond Insurance Policy.
Sample 1
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Payment of Interest Component. The Issuer shall pay the Bank interest at the Liquidity Provider Interest Rate on the amount of the Interest Component, if any, included in the Purchase Price from the Purchase Date until, and such amount shall be payable on, the earliest of (i) the Interest Payment Date next succeeding the Purchase Date, (ii) the date on which such Liquidity Provider Bonds are remarketed, paid at maturity or redeemed, and (iii) the last day of the Purchase Period. The Bank and any Liquidity Provider Bondowner, by acceptance of the Liquidity Provider Bonds, acknowledge that the obligation of the Issuer to pay interest on the Interest Component pursuant to this Section 2.05(d) is not insured under the terms of the Bond Insurance Policy.
Sample 1
Payment of Interest Component. The Commission shall pay the Bank interest at the Purchased Bond Rate on the amount of the Interest Component, if any, included in the Purchase Price from the Purchase Date until, and such amount shall be payable on, the earliest to occur of (i) the Interest Payment Date next succeeding the Purchase Date, (ii) the date on which such Purchased Bonds are remarketed, paid at maturity or redeemed, (iii) the last day of the Purchase Period or (iv) the second Business Day immediately succeeding the related Purchase Date; provided that the Commission, in its discretion, may pay the Bank interest at the Purchased Bond Rate on the amount of the Interest Component on any Business Day prior to the earliest date hereinabove stated.
Sample 1

Related to Payment of Interest Component

  • Payment of Interest The Borrower to which a Loan has been made shall pay accrued interest on that Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling at six monthly intervals after the first day of the Interest Period).

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to:

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Determination of Interest Rates for the LIBOR Floating Rate Classes The Interest Rates for the LIBOR Floating Rate Classes for each Interest Accrual Period shall be determined by Xxxxxx Xxx or the Paying Agent on the Index Determination Date in the month following the month in which the Settlement Date occurs and on each Index Determination Date thereafter so long as the LIBOR Floating Rate Classes are outstanding on the basis of LIBOR and the applicable formulae specified in the Prospectus Supplement or the Lower Tier Schedule, as the case may be. For any period during which LIBOR for any LIBOR Floating Rate Class is to be determined on the basis of the “LIBO Method” (as defined in the Prospectus), until such Class is paid in full, Xxxxxx Mae shall at all times retain at least four Reference Banks (as defined in the Prospectus). The Paying Agent and Xxxxxx Xxx shall have no liability or responsibility to any Person for (i) the selection of any Reference Bank for purposes of determining LIBOR or (ii) any inability to retain at least four Reference Banks which is caused by circumstances beyond their reasonable control. In determining LIBOR, any Interest Rate for the LIBOR Floating Rate Classes or any Reserve Interest Rate (as defined in the Prospectus), Xxxxxx Mae or the Paying Agent may conclusively rely and shall be protected in relying upon the rates or offered quotations (whether written, oral or disseminated by means of an electronic information system) provided by the sources specified in the Prospectus. Neither Xxxxxx Xxx nor the Paying Agent shall have any liability or responsibility to any Person for (i) the Paying Agent’s selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain the applicable rates or quotations or to determine the arithmetic mean of such quotations, all as provided for in the Prospectus.

  • Calculation of Interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Transfer of Interest Amount The Transfer of the Interest Amount will be made on the second Local Business Day following the end of each calendar month and on any other Local Business Day on which Posted Collateral in the form of Cash is Transferred to the Pledgor pursuant to Paragraph 3(b); provided, however, that the obligation of Party B to Transfer any Interest Amount to Party A shall be limited to the extent that Party B has earned and received such funds and such funds are available to Party B.

  • Accrual of interest Each Note (or in the case of the redemption of part only of a Note, that part only of such Note) will cease to bear interest (if any) from the date for its redemption unless payment of principal is improperly withheld or refused. In such event, interest will continue to accrue until whichever is the earlier of:

  • Payment Amount Payment for the Services shall be as follows: (choose one) ☐ - $______________________ for the Services (“Payment”). ☐ - At an hourly rate of $____ per hour (“Payment”). ☐ - Other. ______________________________________________ (“Payment”) If the Subcontractor asserts a claim which involves, in whole or in part, acts or omissions which are the responsibility of the Client or another person for whom a claim may be submitted, including but not limited to, claims for failure to pay, an extension of time, impacts, delay damages, or extra work, the Contractor shall present the Subcontractor's claim to the Client or other responsible party provided the Subcontractor presents to Contractor competent supporting evidence and in sufficient time for the Contractor to do so. The Subcontractor shall cooperate fully with the Contractor in any and all steps the Contractor takes in connection with prosecuting such a claim and shall hold harmless and reimburse the Contractor for all expenses, including legal expenses, incurred by the Contractor which arise out of the Contractor's submission of the Subcontractor's claims to the Client or other responsible party(ies). The Subcontractor shall be bound by any adjudication or award in any action or proceeding resolving such a claim.

  • Treatment of Interest For Federal and State tax purposes (i) interest shall accrue at the Accrual Rate, and (ii) payments made pursuant to section 2 shall first be treated as interest, up to the amount of interest so accrued, then shall be treated as principal, until Purchaser has received, as principal, the entire Principal Amount, and then shall be treated as 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.

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