Examples of Capitalized Interest Period in a sentence
On the Business Day immediately preceding each Interest Payment Date during the Capitalized Interest Period, the Trustee shall transfer from the Capitalized Interest Account to the Interest Account an amount sufficient to pay the interest on the Bonds becoming due on the immediately succeeding Interest Payment Date.
Interest accruing during the Capitalized Interest Period in excess of the maximum aggregate amount of Capitalized Interest hereto shall be paid by Borrower monthly in arrears, on the first day of the month after the month in which such limit is exceeded.
Following the Capitalized Interest Period, ------------------ interest shall continue to accrue on the principal amount outstanding on the Note (including Capitalized Interest) at the Interest Rate and shall be payable, in arrears, on each Interest Payment Date.
On the Business Day immediately preceding each Interest Payment Date during the Capitalized Interest Period, the Trustee shall transfer from the Capitalized Interest Account to the Bond Fund an amount sufficient to pay the interest on the Bonds becoming due on the immediately succeeding Interest Payment Date.
Capitalized Interest Period: The period of six full calendar months following the First Borrowing Data.