Interest accrued definition

Interest accrued on Prime Revolving Loans shall be paid on or before the 10th day of each month in an amount equal to the interest accrued as of the last day of the immediately preceding month. Interest accrued on LIBOR Revolving Loans shall be paid on the last day of the Interest Period with respect thereto and, in the case of an Interest Period greater than three months (if such an Interest Period is permitted under this Agreement), at three month intervals after the first day of such Interest Period. All outstanding principal and accrued interest of the Revolving Loans shall be paid in full on the Maturity Date.

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Interest accrued on the Loans transferred as contemplated by this paragraph and fees accrued in respect of the commitments transferred as contemplated by this paragraph shall accrue to the transferor Lender through the date such transfer is actually made by payment by the transferee Lender for such Loans transferred and such interest and fees shall accrue to the transferee Lender thereafter.

Interest accrued on the Term Loan shall be due and payable in cash on the first day of each calendar month commencing on April 1, 2003, and continuing until the later of the expiration of the Term and the full performance and indefeasible payment in full in cash of the Term Loan and all Obligations related thereto and termination of this Agreement.

Examples of Interest accrued in a sentence

• Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

• Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period.

• Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.

• Interest accrued on each Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity.

• Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date is specified, shall be due and payable on demand.

More Definitions of Interest accrued

Interest accrued on each Loan shall be payable in arrears on each Payment Date. If all or a portion of the principal amount of or interest on the Notes shall not be paid when due (whether at the Final Maturity Date thereof, by acceleration or otherwise), such LOAN AGREEMENT

Interest accrued pursuant to this Section 3.4.2 on any overdue principal of any of the Loans, and, to the maximum extent permitted by Applicable Law, on any overdue interest, fees or other sums, shall be payable upon demand and, in any event, on the last Business Day of each month.

Interest accrued through the last day of each month shall be payable in arrears (a) in the case of any Type of Loan, on each Periodic Payment Date; and (b) in the case of any Loan, when the Loan shall 2 become due (whether at maturity , by reason of prepayment, acceleration or otherwise).

Interest accrued on this Note shall be payable in full, together with the then unpaid principal amount of this Note on the Maturity Date.

Interest accrued on loans subsequently charged off, recorded as a reduction of interest revenue, was $127 million, $116 million and $199 million in fiscal 2000, fiscal 1999 and fiscal 1998, respectively. At November 30, 2000 and 1999, $5,467 million and $5,248 million of the Company's consumer loans had minimum contractual maturities of less than one year. Because of the uncertainty regarding consumer loan repayment patterns, which historically have been higher than contractually required minimum payments, this amount may not necessarily be indicative of the Company's actual consumer loan repayments. At November 30, 2000, the Company had commitments to extend credit for consumer loans in the amount of $262 billion. Commitments to extend credit arise from agreements to extend to customers unused lines of credit on certain credit cards, provided there is no violation of conditions established in the related agreement. These commitments, substantially all of which the Company can terminate at any time and which do not necessarily represent future cash requirements, are periodically reviewed based on account usage and customer creditworthiness. The Company received net proceeds from asset securitizations of $9,760 million, $2,997 million and $4,466 million in fiscal 2000, fiscal 1999 and fiscal 1998, respectively. The uncollected balances of consumer ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ & CO. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued) loans sold through asset securitizations were $25,256 million and $16,977 million at November 30, 2000 and 1999, respectively. The estimated fair value of the Company's consumer loans approximated carrying value at November 30, 2000 and 1999. The Company's domestic consumer loan portfolio, including securitized loans, is geographically diverse, with a distribution approximating that of the population of the U.S.

Interest accrued on this Note shall be payable semi-annually, in arrears, on the last day of June and December of each year, commencing on June 30, 1998, and the remaining accrued interest shall be payable in full, together with the then unpaid principal amount of this Note, on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date.

Interest accrued means interest earned, as at a specific date, on a qualifying product, not yet added to the account balance;