Common use of Periodic Interest Clause in Contracts

Periodic Interest. “Periodic Interest” will be payable on each Tranche of the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on each Tranche tranche of the Series 2023-A Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche tranche of Series 2023-A Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche tranche of Series 2023-A Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on each Tranche of the Securitization Deferred Fuel Cost Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Deferred Fuel Cost Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Deferred Fuel Cost Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on {each Tranche of of} the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the {related Tranche of of} Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the {related Tranche of of} Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” Interest will be payable on each Tranche of the Securitization Consumer Rate Relief Bonds on each Payment Date in an amount equal to [one-half half] of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Consumer Rate Relief Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Consumer Rate Relief Bonds on such preceding Payment Date; provided, however, that, that with respect to the Initial Payment Date, or or, if no payment has yet been made, interest on the EXHIBIT B outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on {each Tranche of of} the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the {related Tranche of of} Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the {related Tranche of of} Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” Interest will be payable on each Tranche of the Securitization Consumer Rate Relief Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Consumer Rate Relief Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Consumer Rate Relief Bonds on such preceding Payment Date; provided, however, that, that with respect to the Initial Payment Date, or or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on {each Tranche of of} the Securitization Rate Reduction Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the {related Tranche of Securitization of} Rate Reduction Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the {related Tranche of Securitization of} Rate Reduction Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” Interest will be payable on each Tranche of the Securitization System Restoration Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization System Restoration Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization System Restoration Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization System Restoration Bonds on such preceding Payment Date; provided, however, that, that with respect to the Initial Payment Date, or or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on each Tranche of the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Periodic Interest. “Periodic Interest” will be payable on each Tranche of the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.