Payment of Interest on Advances Sample Clauses

Payment of Interest on Advances. Accrued and unpaid interest on the unpaid balance of each outstanding Advance shall be payable monthly, in arrears, on the first day of each month, until maturity (whether as stated herein, by acceleration, or otherwise). Subject to the definition of “LIBOR Period” hereunder, in the event that any payment under this Addendum becomes due and payable on any day which is not a Business Day, the due date thereof shall be extended to the next succeeding Business Day, and, to the extent applicable, interest shall continue to accrue and be payable thereon during such extension at the rates set forth in this Addendum. Interest accruing on the basis of the Prime Referenced Rate shall be computed on the basis of a year of 360 days, and shall be assessed for the actual number of days elapsed, and in such computation, effect shall be given to any change in the Applicable Interest Rate as a result of any change in the Prime Referenced Rate on the date of each such change. Interest accruing on the basis of the LIBOR-based Rate shall be computed on the basis of a 360 day year and shall be assessed for the actual number of days elapsed from the first day of the LIBOR Period applicable thereto but not including the last day thereof.

Payment of Interest on Advances. The Authority shall pay interest on the unpaid principal amount of each Advance at a rate per annum equal to the Bank Rate; provided that the unpaid principal amount of any Advance not paid when due as provided in Section 3.5 hereof shall bear interest from and after the date payment was due until paid in full at the Default Rate. Accrued interest on each Advance shall be payable (i) monthly in arrears on the first Business Day of each month, (ii) on the dates provided in Section 3.5 hereof for the payment of principal of such Advance, and (iii) after the occurrence of any such date provided in Section 3.5 hereof where the principal of such Advance remains outstanding, on demand; provided, however, that the Authority shall not be required to pay interest to the Bank for the portion of any Advance used to pay interest on the Notes, if, in accordance with Section 3.5(a) hereof, the Authority repays such portion of any Advance used to pay interest prior to 4:30 p.m., New York City time, on the same day such Advance is made.

Payment of Interest on Advances. Interest shall be calculated on the basis of actual days elapsed (not counting within an Interest Period the last day of that Interest Period) and a year of 360 days (or in the case of sterling, Hong Kong Dollars, Belgian Francs, Canadian Dollars and Singapore Dollars, 365 days or such other period applied generally in the relevant market to such calculations for the relevant currency) and shall be paid on each Advance by the Borrower to the Facility Agent for the account of the Lenders in arrears on the Interest Payment Date in the currency applicable to that Advance.

Payment of Interest on Advances. Interest on each Advance shall be payable pursuant to the terms of the Loan Agreement. Interest on each Advance shall be computed on the basis of a 360-day year and shall be assessed for the actual number of days elapsed from the first day of the Interest Period applicable thereto but not including the last day thereof.

Payment of Interest on Advances. Interest on each Eurocurrency Rate Advance shall be due and payable as it accrues on the last day of its respective Interest Period; provided that if any Interest Period is a period greater than three (3) months, then accrued interest shall also be due and payable on the date that is three (3) months after the commencement of such Interest Period. Interest on each U.S. Dollar Base Rate Advance and each Canadian Dollar Base Rate Advance shall be due and payable as it accrues on the last day of each March, June, September, and December, commencing on December 31, 1997, and on the Termination Date.

Payment of Interest on Advances. (a) The Purchaser shall pay Interest to the Lender on the Net Advances from time to time outstanding. (b) The Lender shall, at least three Business Days prior to each Reporting Date, notify the Purchaser of the amount of interest payable, and the rate of Interest applicable, in respect of the Net Advances for the Interest Period ending on the day prior to the Settlement Date falling immediately following that Reporting Date. The notice shall be in the form of the notice set out in Schedule 4 (Form of Notice of Interest). (c) Accrued Interest shall be paid on each Settlement Date in respect of the Interest Period ending on the day prior to that Settlement Date.

Payment of Interest on Advances. Interest shall be calculated on the basis of actual days elapsed (not counting within an Interest Period the last day of that Interest Period) and a year of 360 days and shall be paid on the Advance by the Borrower to the Lender in arrears on the Interest Payment Date in dollars.

Payment of Interest on Advances. (a) The Purchaser shall pay Interest to the Lender on the Net Advances from time to time outstanding. (b) The rate of interest applicable to the Net Advances from time to time during any applicable Interest Period shall, if the Lender is Calyon S.A., be the rate per annum which is the sum of: (i) the Margin; and (ii) LIBOR on the Quotation Date therefor. and if the Lender is a Conduit Assignee, its Cost of Funds. (c) If in relation to any Net Advances at or about 11.00 a.m. on the Quotation Date for the relevant Interest Period LIBOR is not available for the relevant Interest Period then the Funding Agent shall notify the Purchaser and, notwithstanding anything to the contrary in this Agreement, the Lender and the Purchaser shall endeavour to agree a substitute basis for determining the rate of interest. If they are unable to agree a substitute basis within 2 Business Days the rate of interest applicable to the Net Advances during the relevant Interest Period shall be the rate per annum which is the sum of: (i) the Margin; and (ii) the rate per annum notified to the Purchaser before the last day of such Interest Period as the rate, determined by the Lender in its sole discretion, which represents the Lender’s cost of funds for funding the Net Advances for the relevant period. (d) The Funding Agent shall, at least three Business Days prior to each Reporting Date, notify the Purchaser of the amount of interest payable, and the rate of Interest applicable, in respect of the Net Advances for the Interest Period ending on the day prior to the Monthly Settlement Date falling immediately following that Reporting Date. The notice shall be in the form of the notice set out in Schedule 4 (Form of Notice of Interest). (e) Interest shall accrue in respect of the Net Advances outstanding during each Interest Period on the basis of actual days elapsed during the Interest Period and a year of 360365 days and shall be payable on the immediately following Monthly Settlement Date.

Payment of Interest on Advances. On each Monthly Settlement Date, all interest and earnings (net of losses and investment expenses) on funds on deposit in the Lender Account shall be applied as Collections in accordance with the Servicing Agreement.

Payment of Interest on Advances. The Authority shall pay interest on the unpaid principal amount of each Advance at a rate per annum equal to the Bank Rate; provided that the unpaid amount of any Advance not paid when due as provided in Section 3.5 hereof shall bear interest from and after the date payment was due until paid in full at the Default Rate or if any Event of Default shall have occurred such interest shall also accrue at the Default Rate. Accrued interest on each Advance shall be payable (i) monthly in arrears on the first Business Day of each month, (ii) on the dates provided in Section 3.5 hereof for the payment of principal of such Advance, and (iii) after the occurrence of any such date provided in Section 3.5 hereof where the principal of such Advance remains outstanding, on demand; provided, however, that the Authority shall not be required to pay interest to the Bank for the portion of any Advance used to pay interest on the Notes, if, in accordance with Section 3.5(a) hereof, the Authority repays such portion of any Advance used to pay interest prior to 4:30 p.m., New York City time, on the same day such Advance is made.