Rate of Interest and Interest Payment Dates Sample Clauses

Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their principal amount at the rate of (i) 2.250% per annum from (and including) April 27, 2021 (the “Interest Commencement Date”) to the Transaction Effective Date, (ii) 5.000% from the Transaction Effective Date to (but excluding) July 31, 2025, calculated as set forth below (the “PIK Interest”) and (iii) 2.250% from July 31, 2025 to (but excluding) the Maturity Date. […] All PIK Interest and any cash interest accrued from the Interest Payment Date immediately preceding the Transaction Effective Date to the Transaction Effective Date (the “Pre-Transaction Cash Interest”) shall be paid on July 31, 2025 and not on any regularly scheduled Interest Payment Date and, for the avoidance of doubt, no cash payments will need to be made by the Issuer for any PIK Interest or Pre-Transaction Cash Interest prior to July 31, 2025; provided that if the Notes are redeemed in whole or in part prior to such date
Sample 1See All (4)
AutoNDA by SimpleDocs
Rate of Interest and Interest Payment Dates. The Notes bear interest from (and including) the Issue Date at the rate of 4.875 per cent. per annum (the “Rate of Interest”), payable in arrear on each Interest Payment Date, subject as provided in Condition 8 (Payments). The first payment will be made on 28 September 2024.
Sample 1
Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their principal amount at the rate of (i) 3.250% per annum from (and including) August 5, 2020 (the “Interest Commencement Date”) to the Transaction Effective Date, (ii) 6.000% from the Transaction Effective Date to (but excluding) July 31, 2025, calculated as set forth below (the “PIK Interest”) and (iii) 3.250% from July 31, 2025 to (but excluding) the Maturity Date. […] All PIK Interest and any cash interest accrued from the Interest Payment Date immediately preceding the Transaction Effective Date to the Transaction Effective Date (the “Pre-Transaction Cash Interest”) shall be paid on July 31, 2025 and not on any regularly scheduled Interest Payment Date and, for the avoidance of doubt, no cash payments will need to be made by the Issuer for any PIK Interest or Pre-Transaction Cash Interest prior to July 31, 2025; provided that if the Notes are redeemed in whole or in part prior to such date
Sample 1
Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their principal amount at the rate of o per cent. per annum from (and including) o to (but excluding) the Maturity Date (as defined in ss. 5). Interest shall be payable [semi-]annually in arrears on o [and on o] in each year (each such date, an "Interest Payment Date"). The first payment of interest shall be made on o.
Sample 1
Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their then outstanding principal amount at the rate of [insert interest rate] per cent. per annum (the "Fixed Interest Rate") from and including [insert Issue Date] (the "Issue Date") to but excluding the Maturity Date (as defined in §4(1)). Interest shall be payable [annually][semi-annually] in arrears on [insert Fixed Interest Payment Date] of each year (each such date, an "Fixed Interest Payment Date"). The first payment of interest shall be made on [insert First Fixed Interest Payment Date] (the "First Fixed Interest Payment Date").
Sample 1
Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their then outstanding principal amount at the Floating Interest Rate calculated by the Calculation Agent from and including [insert Issue Date] (the "Issue Date"). Interest will be payable [annually][semi-annually][quarterly] in arrears on each Floating Interest Payment Date, the first such payment to be made on [insert First Floating Interest Payment Date] (the "First Floating Interest Payment Date").
Sample 1
Rate of Interest and Interest Payment Dates. The Loan shall bear interest on its outstanding nominal amount at the rate of [insert rate of interest] per cent. per annum (the Rate of Interest) from, and including, [insert Interest Commencement Date] (the Interest Commencement Date) to, but excluding, the Maturity Date. Interest shall be payable [semi-annually] [annually]] in arrear on [insert Interest Payment Date(s)] in each year each such date, an Interest Payment Date). The first payment of interest shall be made on [insert first Interest Payment Date] and the last payment of interest shall be made on [insert last Interest Payment Date].] On each Interest Payment Date interest in the amount of [insert amount of interest] will be paid on the Loan Amount. Interest Payment Dates are subject to adjustment in accordance with the provisions set out in Clause 8.4.
Sample 1
AutoNDA by SimpleDocs
Rate of Interest and Interest Payment Dates. Each Reset Note bears interest: (i) from (and including) the Interest Commencement Date specified in the relevant Final Terms until (but excluding) the First Reset Date at the rate per annum equal to the Initial Rate of Interest; (ii) from (and including) the First Reset Date until (but excluding) the first Subsequent Reset Date or, if no Subsequent Reset Date is specified in the relevant Final Terms, the Maturity Date at the rate per annum equal to the First Reset Rate of Interest; and (iii) for each Subsequent Reset Period thereafter (if any), at the rate per annum equal to the relevant Subsequent Reset Rate of Interest, payable, in each case, in arrear on the date(s) so specified in the relevant Final Terms on which interest is payable in each year (each an "Interest Payment Date") and on the Maturity Date if that does not fall on an Interest Payment Date. The Rate of Interest and the amount of interest (the "Interest Amount") payable shall be determined by the Calculation Agent, (A) in the case of the Rate of Interest, at or as soon as practicable after each time at which the Rate of Interest is to be determined, and (B) in the case of the Interest Amount in accordance with the provisions for calculating amounts of interest in Condition 4.1. As used in these Conditions:
Sample 1
Rate of Interest and Interest Payment Dates. This N Covered Bond bears interest on its Principal Amount Outstanding for each Fixed Interest Period from (and including) [insert issue date as a calendar date or other date as required] (the Interest Commencement Date) at the rate per annum equal to [insert rate of interest] per cent (the Rate of Interest) payable annually, subject as provided in these N Covered Bond Conditions, in arrear on the [insert Interest Payment Date] from and including [insert first Interest Payment Date] (each such date an Interest Payment Date) in each year up to (and including) the Final Maturity Date (as defined in Condition 4.1 (Final Redemption) of these N Covered Bond Conditions).
Sample 1

Related to Rate of Interest and Interest Payment Dates

  • Interest and Interest Payment Dates In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion of the Revolving Loans be charged (whether at the time when made (unless otherwise provided herein), upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Period applicable thereto; provided, that subject to the following clauses (ii) and (iii), in the case of any Interest Period greater than three months in duration, interest shall be payable at three month intervals after the commencement of the applicable Interest Period and on the last day of such Interest Period), (ii) the date on which all or any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Borrowers have properly exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, at the written election of Agent or the Required Lenders, Borrowers no longer shall have the option to request that Revolving Loans bear interest at a rate based upon the LIBOR Rate.

  • Interest Payment Dates Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Termination Date; provided that (i) interest accrued pursuant to Section 3.02(c) shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than an optional prepayment of an ABR Loan prior to the Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.

  • Interest Payment Dates; Interest and Fee Basis Interest accrued on each Floating Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Closing Date, on any date on which such Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of each applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued on each Swingline Loan shall be payable on the day that such Loan is required to be repaid. Interest accrued on any Advance that is not paid when due shall be payable on demand and on the date of payment in full. Interest on Eurodollar Advances and fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest on Floating Rate Advances shall be calculated for actual days elapsed on the basis of a 365/366-day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to 12:00 noon (New York time) at the place of payment. If any payment of principal of or interest on an Advance, any fees or any other amounts payable to the Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment.

  • Interest Payment Frequency   Interest Payment Dates Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of every third calendar month, beginning in the third calendar month following the month this Note was issued. Semi-annual Fifteenth day of every sixth calendar month, beginning in the sixth calendar month following the month this Note was issued. Annual Fifteenth day of every twelfth calendar month, beginning in the twelfth calendar month following the month this Note was issued.

  • Deferrals of Interest Payment Dates (a) So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time and from time to time during the term of the Security, to defer the payment of interest on the Securities for a period of up to twenty (20) consecutive quarterly interest payment periods (each such period, an “Extension Period”), during which Extension Period(s), the Company shall have the right to make no payments or partial payments of interest on any Interest Payment Date (except any Additional Tax Sums that otherwise may be due and payable). No Extension Period shall end on a date other than an Interest Payment Date and no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. No interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during such Extension Period shall bear Additional Interest (to the extent payment of such interest would be legally enforceable) at a variable rate per annum, reset quarterly, equal to LIBOR plus 2.65%, compounded quarterly, from the dates on which amounts would have otherwise been due and payable until paid or until funds for the payment thereof have been made available for payment. At the end of any such Extension Period, the Company shall pay all interest then accrued and unpaid on the Securities together with such Additional Interest. Prior to the termination of any such Extension Period, the Company may extend such Extension Period and further defer the payment of interest; provided, that (i) all such previous and further extensions comprising such Extension Period do not exceed twenty (20) quarterly interest payment periods, (ii) no Extension Period shall end on a date other than an Interest Payment Date and (iii) no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest Payment Date, the Company may elect to begin a new Extension Period; provided, that (i) such Extension Period does not exceed twenty (20) quarterly interest payment periods, (ii) no Extension Period shall end on a date other than an Interest Payment Date and (iii) no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities. The Company shall give the Holders of the Securities and the Trustee written notice of its election to begin any such Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on the Securities would be payable but for such deferral or, so long as any Securities are held by the Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the Preferred Securities of such Trust would be payable but for such deferral and (ii) the date on which the Property Trustee of such Trust is required to give notice to any securities exchange or other applicable self-regulatory organization or to holders of such Preferred Securities of the record date for the payment of such Distributions. (b) In connection with any such Extension Period, the Company shall be subject to the restrictions set forth in Section 10.6(a).

  • Principal and Interest Payments The Borrower shall pay to the Lender the principal amount of the Loan plus accrued interest in accordance with Section 2.07 hereof, or the Borrower may make prepayments in accordance with Section 2.05 hereof (a “Prepayment Date”).

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

  • Interest and Interest Rates The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.

  • Interest Payments Unless otherwise specified on the face hereof, the Interest Payment Dates will be, in the case of a Floating Rate Note which resets: (1) daily, weekly or monthly—the fifteenth day of each calendar month or on the fifteenth day of March, June, September and December of each year, as specified on the face hereof; (2) quarterly—the fifteenth day of March, June, September and December of each year; (3) semi-annually—the fifteenth day of the two months of each year specified on the face hereof; and (4) annually—the fifteenth day of the month of each year as specified on the face hereof. In addition, the Maturity Date will also be an Interest Payment Date. If any Interest Payment Date other than the Maturity Date for this Floating Rate Note would otherwise be a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day, except that in the case of a Floating Rate Note as to which LIBOR is an applicable Interest Rate Basis and that Business Day falls in the next succeeding calendar month, the particular Interest Payment Date will be the immediately preceding Business Day. If the Maturity Date of a Floating Rate Note falls on a day that is not a Business Day, the Trust will make the required payment of principal, premium, if any, and interest or other amounts on the next succeeding Business Day, and no additional interest will accrue in respect of the payment made on that next succeeding Business Day.

  • Notification of Rate of Interest and Interest Amounts The Principal Paying Agent will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and notice thereof to be published in accordance with Condition 15 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will be promptly notified to each stock exchange on which the relevant Floating Rate Notes or Index Linked Interest Notes are for the time being listed and to the Noteholders in accordance with Condition 15. For the purposes of this paragraph, the expression “

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!