Examples of Broken Interest in a sentence
In addition, the amount of Broken Interest may be reduced to absorb losses in accordance with Condition 5.1; and (y) no interest on the Notes shall accrue nor be payable by the Issuer with respect to the remaining period in such Interest Period or any other Interest Period during the period starting on the date of the Capital Deficiency Event and ending on the date of the End of Capital Deficiency Event.
The first payment of interest will amount to [insert initial Broken Interest Amount per Specified Denomination] per Specified Denomination.
Broken Interest is only applicable with respect to an Interest Period whose Interest Payment Date is an Optional Interest Payment Date and means, with respect to the period from (and including) the immediately preceding Interest Payment Date (or in the case of the first Interest Payment Date, the Issue Date) to (but excluding) the date of the occurrence of a Capital Deficiency Event, the amount of interest accrued on the Notes during such period as calculated by the Calculation Agent.
If the Company fails to borrow any incremental amount called for in a notice of borrowing given by it, the Company shall pay a Broken Interest Period Amount calculated in respect of such incremental borrowing.
A Loss Absorption will firstly be implemented by partially or fully reducing the amount of the Broken Interest, if any.
If the total reduction of Broken Interest is not sufficient for the purpose of the Loss Absorption, a further Loss Absorption will be implemented by partially or fully reducing the Current Principal Amount of the Notes.
Upon receipt of such notice, the Company shall prepay within three Banking Days all Revolving Loans from such Lender then outstanding determined to be illegal, together with all accrued and unpaid interest owed in respect of such Revolving Loans and, as soon thereafter as the necessary calculations can be made, the Company shall pay each such Lender any applicable Broken Interest Period Amount arising from such prepayment.
All applicants are required to provide positive identification including one of the following: government issued identification (military identification, driver's license or passport), birth certificate, social security card, or other verifiable identification.
Broken Interest means, in respect of any Interest Period whose Interest Payment Date is an Optional Interest Payment Date, the amount of interest which accrues on the Notes, as calculated by the Calculation Agent, with respect to the period from (and including) the immediately preceding Interest Payment Date (or in the case of the first Interest Period, the Issue Date) to (but excluding) the date of the occurrence of a Supervisory Event.
Other than in respect of a Broken Interest Period, interest will be paid in respect of each Series 2026-2 Bond in equal amounts on each Interest Payment Date, calculated in accordance with the following formula: and clause 5.1(c) of the Trust Deed shall not apply.