Interest Rate and Payment definition

Interest Rate and Payment. The aggregate principal amount of the Loans outstanding from time to time (as the same may be increased in accordance with the next sentence) will bear interest at a rate per annum equal to 12.0%. Accrued interest will not be payable in cash prior to the Maturity Date, but instead will be added to the outstanding principal balance of the Loans quarterly on March 31, June 30, September 30 and December 31 of each year. All accrued interest and principal will be payable in full in cash on the Maturity Date. Interest will be computed on the basis of a 365 (or 366, as the case may be) day year for the actual days elapsed. If any amount owing under the Term Loan Facility is not paid when due, such amount will bear interest at a rate per annum equal to 14.0% until paid in full.
Sample 1

Examples of Interest Rate and Payment in a sentence

  • Interest Rate and Payment Date........................................................11 Section 2.04.

  • Interest Rate and Payment: Thirteen percent (13%) per annum; provided that during any period that an Event of Default has occurred and is continuing, the interest rate shall be increased to seventeen percent (17%) per annum.

  • Interest Rate and Payment: 5.95% per annum, payable semi-annually in arrears, in equal instalments on March 8 and September 8 of each year, commencing on March 8, 2024.

  • Interest Rate and Payment Dates...................12 SECTION 2.05 Payments...........................................12 SECTION 2.06.

  • Interest Rate and Payment Dates; Additional Interest on Eurodollar Loans.......................48 SECTION 7.07.

  • The Interest Rate and Payment Factor will be adjusted at the time of funding to reflect any increase in the Lender's cost of funds, which shall be tied to the Federal Reserve's Three (3) year Treasury Constant Maturities Rate.

  • AMOUNT AND TERMS OF LOANS 12 2.1. Loans 12 2.2. Note 12 2.3. Procedure for Borrowing 13 2.4. Termination or Reduction of Commitment 13 2.5. Prepaymnts of the Loans 13 2.6. Interest Rate and Payment Dates 14 2.7. Taxes; Net Payments 15 2.8. Use of Proceeds 16 2.9. Capital Adequacy 16 2.10.

  • Interest Rate and Payment: 4.80% per annum, payable semi-annually in arrears, in equal instalments on June 15 and December 15 of each year, commencing on June 15, 2024.

  • INTEREST, FEES, YIELD PROTECTIONS, ETC.................15 3.1. Interest Rate and Payment Dates.................15 3.2. Fees............................................16 3.3. Conversions.....................................16 3.4.

  • PROVISIONS RELATING TO THE LOAN 16 3.1. Optional Prepayments 16 3.2. Interest Rate and Payment Dates.

Related to Interest Rate and Payment

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Reset Rate of Interest means, in relation to a Reset Interest Period, the 7-year Mid-Swap Rate determined for such Reset Interest Period by the Fiscal Agent in accordance with Condition 5 (Interest);

  • Fixed Rate of Interest means the rate of interest payable from time to time in respect of a Fixed Rate Note or during the Fixed Interest Rate Period in respect of a Fixed/Floating Rate Note and that is either specified in the relevant Pricing Schedule or calculated in accordance with the provisions in the relevant Pricing Schedule.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Repayment Price means, when used with respect to any Security to be repaid at the option of the Holder, the price at which it is to be repaid by or pursuant to this Indenture.

  • Interest Rate Cap Payment (a) With respect to the Group II Class A Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group II Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class A-2, Class A-3 and Class A-4 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class M-1, Class M-2 and Class M-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class B-1, Class B-2 and Class B-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date.

  • First Reset Rate of Interest means, in respect of the First Reset Period and subject to Condition 5.2(b), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the Reference Rate and the First Margin;

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;

  • Floating Rate Interest Payment Date has the meaning provided in Section 2.7(b).

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period and subject to Condition 4(b)(ii), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • Interest Rate Determination Date means, with respect to any Interest Period, the date that is two (2) Business Days prior to the first day of such Interest Period.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Floating Rate Period shall have the meaning set forth in Section 2.05(b) hereof.

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

  • Additional Interest Rate With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Capped Interest Rate is defined in the Note, if applicable.

  • Prepayment Price Has the meaning specified in Section 6.02(b) of the Indenture.

  • Pricing Rate Period means, with respect to any Transaction and any Remittance Date (a) in the case of the first Pricing Rate Period, the period commencing on and including the Purchase Date for such Transaction and ending on and excluding the following Remittance Date, and (b) in the case of any subsequent Pricing Rate Period, the period commencing on and including the immediately preceding Remittance Date and ending on and excluding such Remittance Date; provided, however, that in no event shall any Pricing Rate Period for a Purchased Asset end subsequent to the Repurchase Date for such Purchased Asset.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • Selected Interest Rates as the Bank prime loan rate or its equivalent), and (ii) the Federal Funds Rate plus 50 basis points per annum. Each change in any interest rate provided for in the Agreement based upon the Index Rate shall take effect at the time of such change in the Index Rate.

  • Interest Reset Date means, with respect to any Interest Period with respect to the Floating Rate Notes, the first day of such Interest Period; provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed to the next succeeding day that is a Business Day, except that if that Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day.