Ordinary Interest definition

Ordinary Interest means, with respect to any Member, such Member's limited liability company interest in the Company, other than any such interest that is a Preferred Interest.
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Ordinary Interest has the meaning given to such term in Clause Five of this Agreement.
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Ordinary Interest. THE BORROWER shall pay on each Date of Payment of Principal and Interest, ordinary interest on unpaid balances of the principal amount of the Credit, calculated at the Ordinary Rate.
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Examples of Ordinary Interest in a sentence

  • All payments on this Note shall be applied first to attorneys' fees and other costs then accrued, if any; second, to the Default Interest then accrued, if any; third, to Ordinary Interest then accrued, if any; and, finally, to the principal.

  • The outstanding principal amount of this Note shall bear interest ("Ordinary Interest") from and including the date hereof until paid at the rate of SEVEN AND ONE TENTH PERCENT (7.1%) per annum.

  • In case of an event of default concerning the payment of any amount due under this Note (except for ordinary interest) default interest will generate over the due and unpaid amount, beginning on the date in which such amount should have been paid until it is paid in full, at an annual interest rate of 1.25 (one point twenty five) times the Ordinary Interest Rate applicable during the period in which the default occurs and continues (the “Default Interest Rate”).

  • In the event of default on the payment of any amounts corresponding to the principal amount of the Credit Line, the Borrower shall pay to the Lender default interests over the outstanding capital at an interest rate equal to the result of multiplying the Ordinary Interest Rate, by 1.25 (one point twenty five) times, in the understanding that the default interests will be calculated on a daily basis over the entire default period.

  • Furthermore, upon the occurrence of an Event of Default (as defined in Section 2.1 hereof), then to the extent permitted by law, in lieu of the Ordinary Interest, the Maker will pay interest in cash to the Holder, payable on demand, on the outstanding principal balance of the Note from the date of the Event of Default until such Event of Default is cured at the rate of the lesser of fifteen percent (15%) and the maximum applicable legal rate per annum.

  • The application of the Substitute Interest Rates shall cease at the time at which the exceptional circumstances that had given rise to the application thereof have disappeared, and the Ordinary Interest Rate shall once again be applicable, as soon as the applicable market circumstances so permit, subject to the prior and immediate notification thereof from the Agent to the Borrowers and to the Lenders.

  • The Borrower shall pay the Bank, without prior request, ordinary interests on all outstanding amounts payable, which shall be calculated and payable per “Interests Period” at the Ordinary Interest Rate.

  • The Default Interest rate shall be the interest rate which results from the addition of a penalty interest rate of three percent (3%) per annum to the Ordinary Interest Rate or the Substitute Interest Rate (as applicable), including the Applicable Margin, which is being applied to the Interest Period related to the relevant Facility on which the payment default takes place.

  • The Borrower shall pay the Bank, without prior request, ordinary interests on all outstanding amounts payable, which shall be calculated and payable per expired Interests Period at the Ordinary Interest Rate.

  • Ordinary Interest hereunder shall be calculated on the basis of the actual number of days elapsed divided by 360 (three hundred sixty), including the first day but excluding the last day of the corresponding calculation period.

Related to Ordinary Interest

  • Pecuniary Interest means the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in securities.

  • Subsidiary Interests means, collectively, the issued and outstanding shares of stock of the Subsidiary Debtors as of the Petition Date and any options, warrants or other contractual rights to acquire any shares of stock of the Subsidiary Debtors as of the Petition Date.

  • Disclosable Pecuniary Interest means an interest of yourself, or of your partner if you are aware of your partner's interest, within the descriptions set out in Table 1 below.

  • Asset Interest is defined in Section 2.1(b).

  • Intercompany Interest means an Interest in a Debtor held by another Debtor.

  • Uncertificated Lower-Tier Interest A regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and is entitled to monthly distributions as provided in Section 5.02(a) hereof. Any of the Class 1-L Interest, Class 1-LS Interest, Class 2-L Interest, Class 2-LS Interest, Class 3-L Interest, Class 3-LS Interest, Class 4-L Interest and Class 4-LS Interest are Uncertificated Lower-Tier Interests.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.

  • Book-Entry Interest means a beneficial interest in a Global Certificate, ownership and transfers of which shall be maintained and made through book entries by a Clearing Agency as described in Section 9.4.

  • Receivable Interest means, at any date of determination, an undivided percentage ownership interest in (a) all then outstanding Pool Receivables arising prior to the time of the most recent computation or recomputation of such undivided percentage interest pursuant to Section 1.03, (b) all Related Security with respect to such Pool Receivables and (c) all Collections with respect to, and other proceeds of, such Pool Receivables and Related Security. Each undivided percentage interest shall be computed as C + YR + LR + CAFR +DR NRPB where:

  • Asset includes every kind of property, asset, interest or right, including any present, future or contingent right to any revenues or other payment;

  • Uncertificated Interest With respect to any REMIC I Regular Interest for any Distribution Date, one month's interest at the REMIC I Remittance Rate applicable to such REMIC I Regular Interest for such Distribution Date, accrued on the Uncertificated Balance thereof immediately prior to such Distribution Date. Uncertificated Interest in respect of any REMIC I Regular Interest shall accrue on the basis of a 360-day year consisting of twelve 30-day months. Uncertificated Interest with respect to each Distribution Date, as to any REMIC I Regular Interest, shall be reduced by an amount equal to the sum of (a) the aggregate Prepayment Interest Shortfall, if any, for such Distribution Date to the extent not covered by payments pursuant to Section 3.24 and (b) the aggregate amount of any Relief Act Interest Shortfall, if any allocated, in each case, to such REMIC I Regular Interest pursuant to Section 1.02. In addition, Uncertificated Interest with respect to each Distribution Date, as to any REMIC I Regular Interest shall be reduced by Realized Losses, if any, allocated to such REMIC I Regular Interest pursuant to Section 1.02 and Section 4.04.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • qualifying interest means the aggregate interest, discount or original issue discount receivable by a resident individual in any year of income

  • Principal Property means any manufacturing plant or manufacturing facility, located within the United States of America (other than its territories and possessions), owned or leased by the Company or any Restricted Subsidiary, unless, in the opinion of the Board of Directors, such plant, facility or property is not of material importance to the total business conducted by the Company and its Restricted Subsidiaries as an entirety.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.