Delinquent Interest definition

Delinquent Interest means, with respect to each Determination Date, all accrued and unpaid interest on any Contract for which the related Obligor is 30 or more days delinquent (assuming 30-day months) in any payment due, as of the last day of the related Due Period.

Delinquent Interest means, for each Contract and each Determination Date as to which the full payment due in the related Due Period has not been paid before the 30th day after the scheduled payment dated therefor (any such payment being “delinquent” for purposes of this definition), all interest accrued on such Contract from the Due Date in the Due Period one month prior to the Due Period in which the payment is delinquent.

Delinquent Interest means, for each Contract and each Determination Date as to which the full payment due in the related Due Period has not been paid (any such payment being "DELINQUENT" for purposes of this definition), all interest accrued on such Contract from the Due Date in the Due Period one month prior to the Due Period in which the payment is delinquent.

Examples of Delinquent Interest in a sentence

• Not later than each Distribution Date, the Servicer shall advance (each, an “Advance”) an amount equal to the Delinquent Interest for such Determination Date by depositing such amount in the Collection Account; provided, however, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such advance will not become an Uncollectible Advance.

• The Servicer shall indicate on each Monthly Report (i) the amount of Delinquent Interest, if any, on the Contracts for the related Determination Date and (ii) the amount of the Advance, if any, made by the Servicer in respect of the Delinquent Interest pursuant to this Section 7.03.

• On each Determination Date, the Servicer shall compute the amount of Delinquent Interest, if any, on the Contracts.

• If the amount of such Advance is less than the amount of the Delinquent Interest, the relevant Monthly Report shall be accompanied by a certificate of a Servicing Officer setting forth in reasonable detail the basis for the determination by the Servicer that the portion of the Delinquent Interest not advanced would become an Uncollectible Advance.

More Definitions of Delinquent Interest

Delinquent Interest means, for each Contract and each Determination Date as to which the full payment due in the related Due Period has not been paid before the 30th day after the scheduled payment dated therefor (any such payment being "DELINQUENT" for purposes of this definition), all interest accrued on such Contract from the Due Date in the Due Period one month prior to the Due Period in which the payment is delinquent. "DELINQUENCY RATIO" means, for any Distribution Date, the fraction (expressed as a percentage) computed by dividing (a) the Delinquency Amount during the immediately preceding Due Period by (b) the Principal Balance of the Contracts as of the beginning of the related Due Period.

Delinquent Interest. If Borrower shall not pay timely any amount due to the Bank pursuant to this Agreement, exception made of interest, such amount shall accrue delinquent interest from due date until final payment, such interest shall be accrued on a daily basis and shall be paid on demand at a rate equivalent to the sum obtained by multiplying the applicable ordinary interest rate for each day in delay by one point five (1.5)

Delinquent Interest is defined in Section 2.2(f).

Delinquent Interest means, for each Due Period and each Contract, an amount equal to the product of (i) the Principal Balance of such Contract as of the first day of such Due Period and (ii) the stated annual percentage rate of such Contract and (iii) the number of days in the period between the Due Dates on such Contract divided by 360 minus the amount of interest received with respect to such Contract during such Due Period.

Delinquent Interest has the meaning specified in Section 2.06(a).

Delinquent Interest means the aggregate amount of interest accrued on the 2002 Bonds that remains unpaid.

Delinquent Interest means, for each Due Period (i) with respect to each Precomputed Contract an amount equal to the scheduled payment of interest due on such Contract in such Due Period minus the amount of interest received with respect to such Contract in such Due Period and (ii) with respect to each Simple Interest Contract an amount equal to the product of (x) the Principal Balance of such Contract as of the first day of such Due Period and (y) the stated annual percentage rate of such Contract and (z) the number of days in the period between the Due Dates on such Contract divided by 360 minus the amount of interest received with respect to such Contract during such Due Period.