Common use of Payment of interest prior to the Termination Date Clause in Contracts

Payment of interest prior to the Termination Date. From the first Drawdown Date in respect of a Portion until the Termination Date, the Borrower shall pay interest on that Portion in Dollars and/or Euro (as the case may be) at the Floating Interest Rate applicable for each Pre-Redelivery Interest Period in respect thereof which interest shall be payable in arrears on each Pre-Redelivery Interest Payment Date from the application of the amount of Portion 3 drawn down on that Pre-Redelivery Interest Payment Date (if any) and by the Borrower. For the avoidance of doubt, Portion 3 or any part thereof may only be drawn down hereunder and applied in payment of interest accrued up to the Termination Date.

Payment of interest prior to the Termination Date. From the first Drawdown Date in respect of a Portion until the Termination Date, the Borrower shall pay interest on that Portion in Dollars and/or Euro (as the case may be) at the Floating Interest Rate applicable for each Pre-Redelivery Delivery Interest Period in respect thereof which interest shall be payable in arrears on each Pre-Redelivery Delivery Interest Payment Date from the application of the amount of Portion 3 drawn down on that Pre-Redelivery Delivery Interest Payment Date (if any) and by the Borrower. For the avoidance of doubt, Portion 3 or any part thereof may only be drawn down hereunder and applied in payment of interest accrued up to the Termination Date.