Examples of Excess Interest Amount in a sentence
Notwithstanding any termination or expiration of a Loan Document, the City shall continue to observe the covenants set forth therein for the benefit of the Bank until the termination of this Agreement and the payment of all obligations of the City hereunder including, without limitation, the payment of the principal of and all accrued interest (including Excess Interest Amount) on the Loan.
If on the date of maturity, redemption or remarketing of any Purchased Bonds, or on the date any Purchased Bonds cease to constitute Purchased Bonds pursuant to Section 2.04(c), there remains any unpaid Excess Interest Amount with respect to such Purchased Bonds or any Overdue Amounts (the “Final Excess Interest Amount”), such Final Excess Interest Amount shall be paid as a fee by the Commission to the Purchased Bondholder on such date (the “Final Excess Interest Fee Amount”).
The Bank hereby acknowledges that payments of the Excess Interest Amount and the Final Excess Interest Amount and interest thereon is subordinate to the Commission’s obligation to pay principal and interest then due and owing on the Bonds.
Following any sale of Purchased Bonds pursuant to Section 2.04(b), or any election to retain Bonds pursuant to Section 2.04(c), the Bank and any other Purchased Bondholders shall retain the right to receive payment of any accrued Excess Interest Amount relating to such Purchased Bonds and interest thereon as provided herein and any other amounts then due and owing under this Agreement or the Fee Letter.
Notwithstanding any termination or expiration of any such Loan Document, the City shall continue to observe the covenants set forth therein for the benefit of the Bank until the termination of this Agreement and the payment of all obligations of the City hereunder including, without limitation, the payment of the principal of and all accrued interest (including Excess Interest Amount) on the Loan.