Differential Interest Amount definition

Differential Interest Amount shall not include the Final Excess Bond Interest Amount.

Differential Interest Amount means, with respect to any Principal Drawing made to pay a portion of the purchase price of Bonds representing the principal of Bonds to be purchased, the excess of (a) interest which has accrued and is payable under this Agreement at the Bank Rate on such Principal Drawing, as determined in accordance with Sections 2.01 and 2.12, up to but excluding the Business Day on which such Principal Drawing is repaid in full to the Bank, less (b) the interest accrued on the Bank Bonds purchased pursuant to such Principal Drawing which is received by the Bank as part of the Sale Price for such Bank Bonds under Section 2.03(h).

Differential Interest Amount means, with respect to any Bank Bond, the excess of

Examples of Differential Interest Amount in a sentence

• The Prepayment or Breakage Fee is the sum of the discounted present value of each Differential Interest Amount, discounted at the Final Reference Rate from the date such payment would be due back to the prepayment date, or in the case of a Breakage Fee, on the date Notice is given.

• When Bank Bonds are sold in accordance with this Section 2.03(f), the Paying Agent shall, upon receipt of such Bank Bonds and upon receipt by the Bank of the Sale Price and the Differential Interest Amount and any Excess Interest Amount, notify the Borrower and the Trustee that such Bonds are no longer Bank Bonds.

• Any Differential Interest Amount and, to the extent permitted by law, any Excess Interest payable on Bank Bonds sold by the Remarketing Agent shall be payable by the District to the Bank on the earlier of (i) the occurrence of an Event of Default and (ii) the applicable Sale Date.

• Following any sale of Bank Bonds, pursuant to Section 2.13(b) or otherwise, the Bank shall retain the right to receive payment from the District of any accrued Differential Interest Amount and, to the extent permitted by law, any Excess Interest and interest thereon as provided herein and in the Indenture.

• Notwithstanding the preceding sentence, the Authority’s obligations to make payments in respect of any Differential Interest Amount (together with accrued interest thereon, if applicable) shall not be discharged or reduced in any way as a result of the Bank’s failure to deliver any notice referred to in the preceding sentence.

More Definitions of Differential Interest Amount

Differential Interest Amount means, with respect to any Purchased Bond, the excess of

Differential Interest Amount means the excess of (a) interest which has accrued and could actually be paid on Bank Bonds at the Bank Rate, as determined in accordance with Sections 2.2(a) and 3.1 hereof, up to but excluding the Business Day on which such Bank Bonds are purchased from the Bank Bondholders pursuant to Section 2.5(c) hereof,

Differential Interest Amount means, with respect to any Bank Bond, the excess of (a) interest which has accrued and could actually be paid on such Bank Bonds at the Bank Rate, as determined in accordance with Sections 3.2(a) and 4.1 hereof, up to but excluding the Business Day on which such Bank Bonds are purchased from the Bank Bondholder pursuant to Section 3.5(c) hereof, over (b) the interest accrued on such Bonds received by the Bank Bondholder as part of the Sale Price or otherwise paid to the Bank Bondholders.

Differential Interest Amount means an amount equal to (a) interest which has accrued and is unpaid on Purchased Bonds at the Bank Rate up to but excluding the Sale Date, minus

Differential Interest Amount for each interest payment scheduled through the Fee End Date by subtracting the Final Interest Amount from the Initial Interest Amount for each such payment; and

Differential Interest Amount means, with respect to any Pledged Bonds sold on any date pursuant to Section 2.03 of the 2009 Resolution, the excess, if any, of (a) the aggregate amount of interest accrued and unpaid on such Pledged Bonds as of such date over (b) the portion of the Sale Price for such Pledged Bonds in excess of the principal amount thereof.

Differential Interest Amount has the meaning give to such term in the applicable Reimbursement Agreement.