Compound Interest Bond definition

Compound Interest Bond. Any Bond of a Series on which interest accrues and is periodically added (in whole or in part) to the principal of such Bond in accordance with the terms thereof and the related Terms Indenture, but with respect to which no principal shall be payable except during the period or periods specified in the related Terms Indenture and with respect to which no interest (or only a portion of the accrued interest) is payable until the Payment Date on or following the Accrual Termination Date.
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Compound Interest Bond. A Bond on which interest accrues and is added to the principal of such Bond on each related Interest Payment Date through the Initial Interest Payment Date for such Bond, but with respect to which neither interest nor principal is due or payable until such Initial Interest Payment Date.
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Compound Interest Bond. A Bond of a Series on which interest accrues and is compounded and added to the principal of such Bond periodically, but with respect to which neither interest nor principal is payable until the entire principal amount of each Outstanding Bond of the same Series having an earlier Stated Maturity of principal has been paid in full.
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Examples of Compound Interest Bond in a sentence

  • On each Interest Payment Date prior to the Initial Interest Payment Date for a Compound Interest Bond, Accrued Bond Interest on such Bond during the related Interest Accrual Period shall be added to the Current Principal Amount of such Bond and shall thereafter accrue interest.

  • The Issuer will be required to value all or a portion of the GPM Collateral securing such Series on a level debt service basis if it is determined that the payments of principal and interest on the Mortgage Collateral securing such Series may be insufficient to meet debt service requirements on each Class of Bonds of such Series which is not a Compound Interest Bond in accordance with Section 3.07.

  • Each Advance shall constitute a corresponding payment of the purchase price of a portion of the applicable TAD Series Compound Interest Bond.

  • The Developer shall notify the Issuer and the Trustee of its intent to purchase a TAD Series Compound Interest Bond at least ( ) Business Days prior to the date when such funds will be deemed Advanced by the Developer, with a copy of such Funding Notice and Requisition being delivered currently to the Issuer and the Trustee.