Interest Deferral Period means any period during which the payment of interest on the Holdings Subordinated Notes is deferred in accordance with Section 6.18.
Interest Deferral Period means, with respect to any period (for these purposes, the “subject period”) consisting of one or more consecutive, four-Fiscal Quarter periods of Borrower as of the end of which either (a) the Consolidated Fixed Charge Coverage Ratio is less than 1.15 to 1.00 or (b) the Consolidated Senior Leverage Ratio is greater than 3.20 to 1.00, the period commencing on the date Borrower is required to deliver a Compliance Certificate pursuant to Section 4.1 in respect of the first such four-quarter period in such subject period and ending on the date on which Borrower delivers a Compliance Certificate pursuant to Section 4.1 in respect of the last Fiscal Quarter of Borrower in such subject period.
Interest Deferral Period is defined in Section 16.3. “Interest Payment Date” is defined in Section 16.2. “LIBOR” means, for each interest period, the offered rate per annum (but not less than 0.00%) for deposits of U.S. dollars for the applicable interest period that appears on Reuters Screen LIBOR01 Page (or the applicable successor page) as of 11:00 a.m. (London, England time) two Business Days prior to the first day in such interest period. If no such offered rate exists, such rate will be the rate of interest per annum, as determined by the Required Holders at which deposits of U.S. dollars in immediately available funds are offered at 11:00 a.m. (London, England time) two Business Days prior to the first day in such interest period by major financial institutions reasonably satisfactory to the Required Holders in the London interbank market or such other market and reference rate acceptable to the holders of the Notes for such interest period for the applicable principal amount on such date of determination. “Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such Person (including in the case of stock, stockholder agreements, voting trust agreements and all similar arrangements). “Material” means material in relation to the business, operations, affairs, financial condition, assets, properties, or prospects of the Company and its Subsidiaries taken as a whole. “Material Adverse Effect” means a material adverse effect on (a) the busi-
Examples of Interest Deferral Period in a sentence
If any Interest Deferral Period has occurred, the failure by the Company to pay any related Deferred Interest and any interest thereon, on or before the first day immediately following the last day of such Interest Deferral Period.
If there are insufficient funds to pay the accrued and unpaid interest on the Original Notes (or any Refinancing Notes in respect of the Original Notes) in full on any Payment Date following the Interest Deferral Period (including any accrued and unpaid interest due on prior Payment Dates and not previously paid, and any accrued and unpaid interest on such unpaid interest), the shortfall in interest shall accrue interest to the extent legally enforceable at the Note Interest Rate compounded quarterly.
No interest or Deferred Interest shall be due and payable during a Interest Deferral Period, except at the end thereof.
No Interest Deferral Period may end on a date other than an Interest Payment Date or extend beyond the Maturity Date, as the case may be.
Upon the termination of any Interest Deferral Period and upon the payment of all Deferred Interest, the Company may commence a new Interest Deferral Period for up to 20 consecutive quarterly periods as if no prior Interest Deferral Period had occurred, subject to the foregoing requirements.
More Definitions of Interest Deferral Period
Interest Deferral Period shall have the meaning set forth in Section 2.1(c).
Interest Deferral Period is defined in Section 16.3. “Interest Payment Date” is defined in Section 16.2. “Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such Person (including in the case of stock, stockholder agreements, voting trust agreements and all similar arrangements). “Material” means material in relation to the business, operations, affairs, financial condition, assets, properties, or prospects of the Company and its Subsidiaries taken as a whole. “Material Adverse Effect” means a material adverse effect on (a) the busi- ness, financial condition, or assets of the Company and its Subsidiaries taken as a whole, or (b) the ability of the Company to perform its obligations under this Agreement and the Notes, or (c) the validity or enforceability of this Agreement or the Notes. “Maturity Date” is defined in the first paragraph of each Note. “NAIC” means the National Association of Insurance Commissioners or any successor thereto. “Net Worth” means as of any date of determination shareholders’ equity, including all common stock, Preferred Stock and any minority interests of the Company and its consolidated Subsidiaries as of such date as determined in accordance with GAAP as in effect on the date of this Agreement. “Note” is defined in Section 1. “OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 6 Schedule B 25598028
Interest Deferral Period means, with respect to an Interest Adjustment Payment for an Undetermined Reference Entity, the period from and including the first Scheduled Interest Payment Date applicable to such Undetermined Reference Entity, to but excluding (i) with respect to any Additional Interest Payment Date falling prior to the Scheduled Maturity Date, such Additional Interest Payment Date and (ii) with respect to any Additional Interest Payment Date falling on or after the Scheduled Maturity Date, the Scheduled Maturity Date.
Interest Deferral Period means each period commencing on any day which Holdings delivers to the Administrative Agent pursuant to Section 8.01(a) and Section 8.01(e)(i) its quarterly financial statements and an IDP Compliance Certificate showing that the IDP Condition has not been met for the most recently ended Test Period, or, in the event that Holdings fails to deliver its quarterly financial statements or certificates pursuant to Section 8.01(a) and Section 8.01(e)(i) within the grace period allotted therefor under Section 10.03(ii), on the last day of the grace period,, and ending on any day on which Holdings delivers to the Administrative Agent pursuant to Section 8.01(e) prior to the end of such grace period for such fiscal quarter, an IDP Compliance Certificate demonstrating compliance with the IDP Condition for the most recently-ended Test Period.
Interest Deferral Period has the meaning assigned thereto in Section 2.03(a)(3).
Interest Deferral Period means with respect to an Additional Interest Payment Date, the period from and including the first Scheduled Interest Payment Date onwhich the Determined Reference Obligation was an Undetermined Reference Obligation to but excluding such Additional Interest Payment Date.
Interest Deferral Period has the meaning assigned to such term in Section 5.1.