Current Pay Interest definition

Current Pay Interest the meaning specified in Section 2.02(d).

Current Pay Interest. Is defined in Section 3:3-4(a)(i)

Current Pay Interest has the meaning assigned to that term in Section 2.4(a).

Examples of Current Pay Interest in a sentence

• Furthermore, if Company fails to cure an Event of Default within the applicable period, then the Current Pay Interest rate shall be increased by an additional 4% per annum effective immediately as of the date of the Event of Default, unless such rate of interest is not allowed by law in which case the interest rate will increase to the maximum rate allowed by law.

• All accrued, unpaid Current Pay Interest on this Note as of the Conversion Date will be paid in cash by the Company on the Conversion Date.

• Notwithstanding the foregoing or any other provision of this Note to the contrary, Current Pay Interest will be converted to PIK Interest in the sole discretion of Holder.

• Lender agrees that it shall deliver to Mortgage Lender, not less than five (5) days prior to each Payment Date, a written notice setting forth (i) the amount of the Current Pay Interest Payment that will be due on the next Payment Date, and (ii) an itemized list of any other amounts that will be due on such next Payment Date pursuant to the terms of this Agreement and/or the other Loan Documents.

• After the occurrence and during the continuance of an Event of Default under Section 8.1(a), the Borrower shall pay, but only to the extent permitted by law, interest on the outstanding principal amount of the Notes and all other accrued but unpaid Obligations at a rate equal to the Aggregate Interest Rate plus 6.0% per annum (all of which shall increase the otherwise applicable Current Pay Interest) (the “Default Rate”).

More Definitions of Current Pay Interest

Current Pay Interest. Is defined in Section 3-4(a)(i)

Current Pay Interest. Interest shall be payable upon Advances under the Term Loan and the Working Capital Facility at the rates per annum set forth below: April 1 - September 30, 2001 Prime Rate plus 2.25% October 1 - December 31, 2001 Prime Rate plus 2.50% January 1 - April 1, 2002 Prime Rate plus 3.50% Interest shall continue to be payable on a monthly basis in arrears.

Current Pay Interest means interest that accrues from time to time pursuant to Section 2.06(a) hereof.

Current Pay Interest. Is defined in Section 3:3-4(b)(i)

Current Pay Interest. The per annum rate at which interest shall be paid in cash on the Term Loan, being the following for the periods set forth below: -------------------------------------------------- Period Pay Rate December 2, 1999 through 12% December 1, 2000 -------------------------------------------------- December 2, 2000 through December 1, 13% 2001 -------------------------------------------------- From and after December 2, 2001 14% --------------------------------------------------

Current Pay Interest has the meaning provided therefor in Section 2.9(b)(ii).

Current Pay Interest means interest that has accrued with respect to the Loan in accordance with the terms of this Agreement and the other Loan Documents and which must be paid on each Payment Date when due, in accordance with Section 2.2.3 of this Agreement.