Arrears of Interest definition

Arrears of Interest means as at any date in respect of any Loan, interest (other than Capitalized Interest or Accrued Interest) on that Loan which is currently due and payable and unpaid on that date;

Arrears of Interest means as at any date and in relation to any Mortgage Loan, interest (other than Capitalised Interest or Accrued Interest) on such Mortgage Loan which is currently due and payable on such date;

Arrears of Interest for this purpose in respect of a Mortgage Loan on any date means the aggregate amount overdue on the Mortgage Loan on that date, but only where such aggregate amount overdue equals or exceeds an amount equal to the Monthly Payment then due on the Mortgage Loan and such amount has been overdue for an entire calendar month;

Examples of Arrears of Interest in a sentence

• Any such redemption of Notes shall be at their Optional Redemption Amount together with interest accrued to the date fixed for redemption (including, where applicable, any Arrears of Interest), if any.

• Claims in respect of principal and interest or any other amount will become void unless presentation for payment is made as required by Condition 7 (Payments) within a period of 10 years in the case of principal (or any other amount in the nature of principal) and five years in the case of interest (or any other amount in the nature of interest, including Arrears of Interest) from the appropriate Relevant Date.

• Any interest not paid on an Optional Interest Payment Date shall, so long as the same remains unpaid, constitute "Arrears of Interest" which term shall include interest on such unpaid interest as referred to below.

• Any interest not paid on an Optional Interest Payment Date shall, so long as the same remains unpaid, constitute Arrears of Interest which term shall include interest on such unpaid interest as referred to below.

• Arrears of Interest shall otherwise only become payable, subject to Condition 2(b), on the due date for repayment of the Notes to which such Arrears of Interest relate.

More Definitions of Arrears of Interest

Arrears of Interest has the meaning given to it in Condition 5(a) (Optional Interest Deferral - Deferral of Interest Payments);

Arrears of Interest means at any date in respect of a Purchased HP Contract the aggregate of all interest on that Purchased HP Contract which is currently due and payable and unpaid on that date.

Arrears of Interest means any amounts deferred in accordance with Condition 4(a);

Arrears of Interest means any interest not paid on an Optional Interest Payment Date or a Mandatory Deferral Date (except to the extent such interest shall subsequently have been paid);

Arrears of Interest has the meaning given to it in Condition 3(b)(i).

Arrears of Interest has the meaning given to it in Condition 4(b)(i).

Arrears of Interest means, in the case of Non-ACSM Notes, any interest payment which the Issuer has elected to defer on an Interest Payment Date in accordance with Condition 4.1A or Condition 4.1B, together with any interest accrued thereon in the limited circumstances referred to in Conditions 4.3(b) and (c), 7.7 and 7.8 and any interest payments that the Issuer does not make because the Solvency Condition and/or the Solvency Capital Requirement is not met, and which has not been satisfied;