Initial Interest Amount definition
Examples of Initial Interest Amount in a sentence
Calculate the “Differential Interest Amount” for each interest payment due during the Remaining Fixed Pricing Period by subtracting the Final Interest Amount from the Initial Interest Amount for each such payment.
For the avoidance of doubt, no portion of the Initial Interest Amount shall accrue before the date of issue of the Initial Debentures.
In case of a partial prepayment before the Initial Interest Payment Date, the Initial Interest Amount as defined in Section 2.6 ----------- will be reduced accordingly.
The parties hereto acknowledge that the Initial Interest Amount is paid in advance in consideration, among other things, of Lender setting aside funds for the Loan during the whole month of September and that payment of the Initial Interest Amount in advance is an essential term of the transactions effected hereby.
The Initial Interest Amount and the Second Interest Amount shall be prepaid by Borrowers via Lender withholding such respective amounts from disbursements of the Initial Draw Amount and the Second Draw Amount, respectively, as set forth hereinabove.
On the date (the "Initial Funding Date") that all of the conditions precedent set forth hereinbelow have been satisfied to the Lender's sole and absolute discretion, the Lender shall disburse the Initial Draw Amount less the Initial Fee, less the Legal Fee, and less the Initial Interest Amount to Borrowers.
The first --------------- installment will be equal to 50% of the Initial Interest Amount and will be due on the Initial Interest Payment Date, and the second installment, also equal to 50% of the Initial Interest Amount, will be due on the first anniversary of the Initial Interest Payment Date.