Incremental Interest definition

Incremental Interest. As to any Incremental Rate Mortgage Loan, the amount of interest accrued on such Mortgage Loan attributable to the Incremental Rate; provided, however, that with respect to any payment of interest received in respect of such a Mortgage Loan (whether paid by the Mortgagor or received as Liquidation Proceeds or otherwise) which is less than the full amount of interest then due with respect to such Mortgage Loan, only that portion of such payment of interest that bears the same relationship to the total amount of such payment of interest as the Incremental Rate, if any, in respect of such Mortgage Loan bears to the Mortgage Interest Rate shall be allocated to the Incremental Interest with respect thereto.

Incremental Interest means, any increase in the percentage interest owned by the Company, directly or indirectly, including through a Joint Venture, in a Real Estate Asset, which results from an additional investment by the Company in the Real Estate Asset, whether through an additional capital contribution, the funding of additional debt or the assumption or guarantee of debt, which, in the case of a Joint Venture, is not matched by a corresponding contribution or assumption by the other Joint Venture partner.

Incremental Interest is defined in Section 10.6(ii)(A).

Examples of Incremental Interest in a sentence

• In the event such Officer’s Certificate is delivered, the Incremental Interest shall cease to accrue on the last day of the fiscal quarter in respect of which such Certificate is delivered.

• The foregoing requirements for deposit into the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 6.01 and any amounts received with respect to or related to Incremental Interest, need not be deposited by the Company into the Custodial Account.

• In the event such Officer’s Certificate is delivered evidencing that neither the Consolidated Leverage Ratio nor the Unencumbered Leverage Ratio is more than sixty percent (60%), the Incremental Interest shall cease to accrue on the last day of the fiscal quarter in respect of which such Officer’s Certificate is delivered.

• The Incremental Interest Payment, if any, shall be paid quarterly by wire transfer of immediately available funds to each holder of the Notes in accordance with the terms of this Agreement.

• The foregoing requirements for deposit into the Custodial Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges and assumption fees, to the extent permitted by Section 6.01, and any amounts received with respect to or related to Incremental Interest need not be deposited by the Company into the Custodial Account.

More Definitions of Incremental Interest

Incremental Interest is defined in Section 1.

Incremental Interest is defined in Section 1.4.

Incremental Interest shall have the meaning assigned to such term in the Note Purchase Agreement.

Incremental Interest has the meaning given to it in the Notes.

Incremental Interest means an increase in the percentage interest owned by the Company, directly or indirectly through a Joint Venture, in a Real Estate Asset, which results from an additional investment by the Company in the Real Estate Asset, whether through an additional capital contribution, the funding of additional debt or the assumption or guarantee of debt, which in the case of a Joint Venture, is not matched by a corresponding contribution or assumption by the other Joint Venture partner.

Incremental Interest shall have the meaning ascribed to such term in Section 6(b) herein.

Incremental Interest means any increase in the interest rate payable in respect of the Term Loan B pursuant to the proviso to clause (a)(ii) or the proviso to clause (b)(ii) of the definition of "Applicable Margin".