Common use of Quarterly Interest Clause in Contracts

Quarterly Interest. [Quarterly] Interest will be payable on each Class of the Series [ ] Notes on each Payment Date in an equal amount to [one-fourth] of the product of (i) the applicable Note Interest Rate and (ii) the Outstanding Amount of the related Class of Notes 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 Class of Series [ ] Notes 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 Issuance Date to, but excluding, the following Payment Date.

Appears in 2 contracts

Samples: Indenture (Comed Funding LLC), Illinois Power Securitization Limited Liability Co

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Quarterly Interest. [Quarterly] Interest will be payable on each Class of the Series 199 [ ] ]- [ ]Notes on each Payment Date in an equal amount to [one-fourth] of the product of (i) the applicable Note Interest Rate and (ii) the Outstanding Amount of the related Class of Notes 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 Class of Series 199 [ ] - [ ]Notes 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 Issuance Date to, but excluding, the following Payment Date.

Appears in 1 contract

Samples: Illinois Power Securitization Limited Liability Co

Quarterly Interest. [Quarterly] Interest will be payable on each Class of the Series [ ] Notes on each Payment Date in an equal amount to [one-fourth] of the product of (i) the applicable Note Interest Rate and (ii) the Outstanding Amount of the related Class of Notes 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 Class of Series [ ] Notes 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 Issuance Date to, but excluding, the following Payment Date.. (e)

Appears in 1 contract

Samples: Indenture (Comed Funding LLC)

Quarterly Interest. [Quarterly] Interest will be payable on each Class of the Series 199 [ ] ]- [ ]Notes on each Payment Date in an equal amount to [one-fourth] of the product of (i) the applicable Note Interest Rate and (ii) the Outstanding Amount of the related Class of Notes 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 Class of Series 199 [ ] - [ ] Notes 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 Issuance Date to, but excluding, the following Payment Date.

Appears in 1 contract

Samples: Indenture (Comed Funding LLC)

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Quarterly Interest. [Quarterly] Quarterly Interest will be payable on each Class of the Series [ ] ]Notes on each Payment Date in an equal amount to [one-fourth] of the product of (i) the applicable Note Interest Rate and (ii) the Outstanding Amount of the related Class of Notes 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 Class of Series [ ] Notes 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 Issuance Date to, but excluding, the following Payment Date.

Appears in 1 contract

Samples: Illinois Power Securitization Limited Liability Co

Quarterly Interest. [Quarterly] Interest will be payable on each Class of the Series [ ] ]Notes on each Payment Date in an equal amount to [one-fourth] of the product of (i) the applicable Note Interest Rate and (ii) the Outstanding Amount of the related Class of Notes as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the holders Holders of the related Class of Series [ ] Notes 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 Series Issuance Date to, but excluding, the following Payment Date.

Appears in 1 contract

Samples: Indenture (Comed Funding LLC)

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