Common use of Periodic Interest Clause in Contracts

Periodic Interest. Periodic Interest will be payable on each Tranche of the Phase-In-Recovery 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 Phase-In-Recovery 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 Phase-In-Recovery 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 of the Phase-In-Recovery System Restoration Bonds on each Payment Date in an amount equal to [one-half] of the product of (i) the applicable System Restoration Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Phase-In-Recovery 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 Phase-In-Recovery System Restoration Bonds on such preceding Payment DateDate (“Periodic Interest”); 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 of the Phase-In-Recovery System Restoration Bonds on each Payment Date in an amount equal to [one-half] of the product of (i) the applicable System Restoration Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Phase-In-Recovery 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 Phase-In-Recovery System Restoration 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 of the Phase-In-Recovery System Restoration Bonds on each Payment Date in an amount equal to [one-half] half of the product of (i) the applicable System Restoration Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Phase-In-Recovery 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 Phase-In-Recovery System Restoration Bonds on such preceding Payment DateDate (“Periodic Interest”); 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 of the Phase-In-Recovery Bonds on each Payment Date in an amount equal to [one-half] half of the product of (i) the applicable Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Phase-In-Recovery 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 Phase-In-Recovery 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.