Periodic Interest. “Periodic Interest” will be payable on each Tranche of the Series A Energy Transition Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Series A Energy Transition 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 Series A Energy Transition 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 Series Closing Date to, but excluding, the following Payment Date.
Appears in 6 contracts
Samples: Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC), Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC), Intercreditor Agreement (PNM Energy Transition Bond Co I, LLC)
Periodic Interest. “Periodic Interest” Interest will be payable on each Tranche of the Series A Energy Transition Bonds on each Payment Date in an amount equal to [one-half half] of the product of (i) the applicable Transition Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Series A Energy Transition 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 Series A Energy Transition Bonds on such preceding Payment Date; provided, however, that, that with respect to the initial Initial Payment Date, or or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Series Closing Date to, but excluding, the following Payment Date.
Appears in 5 contracts
Samples: Indenture (AEP Transition Funding III LLC), Indenture (AEP Transition Funding III LLC), Indenture (AEP Transition Funding III LLC)
Periodic Interest. “Periodic Interest” Interest will be payable on each Tranche of the Series A Energy [ ] Transition Bonds on each Payment Date in an amount equal to [one-half half] of the product of (i) the applicable Transition Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Series A Energy Transition 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 Series A Energy [ ] Transition Bonds on such preceding Payment Date; provided, however, that, that with respect to the initial Initial Payment Date, or or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Series Closing Issuance Date to, but excluding, the following Payment Date.
Appears in 4 contracts
Samples: Section Indenture (Aep Texas Central Co), Indenture (Aep Texas Central Co), Indenture (Entergy Gulf States Reconstruction Funding I, LLC)
Periodic Interest. “Periodic Interest” Interest will be payable on each Tranche of the Series A Energy Transition Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Transition Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Series A Energy Transition 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 Series A Energy Transition Bonds on such preceding Payment Date; provided, however, that, that with respect to the initial Initial Payment Date, or or, if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Series Closing Issuance Date to, but excluding, the following Payment Date.
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