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 assigned to such term in Clause Five (5.1) 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

  • 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”).

  • 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 between each Interests Payment Dates and the following one, on a basis of a year of 360 (three hundred sixty) days, including the first day but excluding the last day of the corresponding calculation period.

  • 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.

  • 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.

  • 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.

  • 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.

  • In order to return to the application of the Ordinary Interest, within three (3) Business Days prior to the expiry of the Interest Period then in force and effect in relation in question for which the Principal Substitute Interest Rate had been applied, the procedure for the determination of the Ordinary Interest Rate, in accordance with the provisions of Clause 7.1, shall be reinitiated.

  • In the event of default in the payment of any principal amount payable under this Agreement (except ordinary interest), default interest, payable on demand, will accrue daily on the overdue and unpaid principal amount of the Provisions, from the date in which such payment should have been made and until its total payment, at a rate equal to the result of multiplying by 2 (two) the respective Ordinary Interest Rate.

  • The previous obligation will be applicable as many times as necessary as the Ordinary Interest Rate is changed, in such case, in compliance with the provisions of this Agreement.

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).

  • Uncertificated Distributable Interest As defined in Section 2.11(g) with respect to any REMIC I Regular Interest for any Distribution Date and in Section 2.13(g) with respect to any REMIC II Regular Interest for any Distribution Date.