Periodic Interest Accrual Period means (i) the period from and including the Closing Date, to but excluding the initial Payment Date, and (ii) thereafter, with respect to each Payment Date, the period beginning on the first day following the end of the preceding Periodic Interest Accrual Period and ending on the day before such Payment Date.

Periodic Interest Accrual Period means, with respect to any Class of Secured Notes (i) in the case of the initial Periodic Interest Accrual Period, the period from, and including, the Closing Date to, but excluding, the Initial Payment Date, (ii) in the case of the first Periodic Interest Accrual Period for the Class A-R Notes, the Class B-R Notes, the Class C-R Notes, the Class D-R Notes and the Class E-R Notes, the period from, and including, the Payment Date in October 2016 to, but excluding, the Payment Date in January 2017 and, (iii) in the case of the first Periodic Interest Accrual Period for the Class A-R2 Notes, the Class B-R2 Notes, the Class C-R2 Notes, the Class D-R2 Notes and the Class E-R2 Notes, the period from, and including the 2019 Reset Date to, but excluding, the Payment Date in April 2019, and (iv) thereafter, each successive period from, and including, each Payment Date to, but excluding, the next succeeding Payment Date, provided that, in the case of any Optional Redemption, Clean-Up Call Redemption, Partial Redemption by Refinancing or Re-Pricing occurring on a non-Payment Date, the Periodic Interest Accrual Period shall be the period from, and including, the prior Payment Date, to, but excluding, the Redemption Date, Clean-Up Call Redemption Date or Re- Pricing Date, as applicable; provided further, that in the case of a Partial Redemption by Refinancing occurring on a non-Payment Date, such shorter Periodic Interest Accrual Period shall apply only to the Class(es) of Secured Notes subject to the Partial Redemption by Refinancing.

Examples of Periodic Interest Accrual Period in a sentence

The second London Banking Day preceding (a) with respect to the first Periodic Interest Accrual Period, (x) for the period from the Closing Date to but excluding the First Interest Determination End Date, the Closing Date and (y) for the remainder of the first Periodic Interest Accrual Period, the First Interest Determination End Date, and (b) with respect to each Periodic Interest Accrual Period thereafter, the first day of such Periodic Interest Accrual Period.
With respect to any specified Class of Secured Notes, the per annum interest rate payable on such Class with respect to each Periodic Interest Accrual Period specified in the table in Section 2.3, which, if a Re-Pricing has occurred with respect to any Re-Pricing Eligible Class, will be the applicable Re-Pricing Rate for any such Class.
The Senior Management Fee will be calculated on the basis of a calendar year consisting of 360 days and the actual number of days elapsed during the related Periodic Interest Accrual Period.
LIBOR (as determined on the most recent Determination Date relating to a Periodic Interest Accrual Period beginning on a Payment Date or the Closing Date) minus 0.50% per annum; provided that the Assumed Reinvestment Rate shall not be less than 0%.
Notwithstanding the foregoing, if LIBOR with respect to the Floating Rate Notes for any Periodic Interest Accrual Period as determined pursuant to the foregoing would be a rate less than 0%, then LIBOR with respect to the Floating Rate Notes for such Periodic Interest Accrual Period will be 0%.

More Definitions of Periodic Interest Accrual Period

Periodic Interest Accrual Period means, in respect of each Class of Notes, the period from and including the Closing Date (or in the case of a Class that is subject to Refinancing, the Payment Date upon which the Refinancing respectively occurs) to, but excluding, the Initial Payment Date (or in the case of a Class that is subject to Refinancing, the first Payment Date following the Refinancing) and each successive period from and including each Payment Date to, but excluding, the following Payment Date; provided that solely for the purposes of calculating interest payable on the basis of a 360 day year consisting of 12 months of 30 days each in accordance with Condition 6.5(a) (Fixed Rate of Interest), the Payment Date shall not be adjusted if the relevant Payment Date falls on a day other than on a Business Day.

Periodic Interest Accrual Period means (i) with respect to the initial Payment Date, the period from and including the Closing Date to, but excluding, such Payment Date, and (ii) thereafter, with respect to each Payment Date, the period beginning on the first day following the end of the preceding Periodic Interest Accrual Period and ending on the day before such Payment Date; provided, however, that with respect to the Class B-2 Notes only, the Periodic Interest Accrual Period for each Payment Date occurring on or before the Payment Date in December 2010 shall end on the day before March 1, June 1, September 1 and December 1 regardless of whether such day is a Business Day.

Periodic Interest Accrual Period means (A) (i) in the case of the initial Periodic Interest Accrual Period (subject to the following clause (B)), the period from, and including, the Closing Date to, but excluding, the first Payment Date and (ii) thereafter, the period from, and including, the Payment Date immediately following the last day of the immediately preceding Periodic Interest Accrual Period to, but excluding, the next succeeding Payment Date and (B) with respect to any Borrowing made under the Class A-1 Notes, (i) the period from the date of such Borrowing to the first Payment Date thereafter; and

Periodic Interest Accrual Period means, with respect to any Class of Secured Notes (i) in the case of the initial Periodic Interest Accrual Period, the period from, and

Periodic Interest Accrual Period means, with respect to any Class of Secured Notes (i) in the case of the initial Periodic Interest Accrual Period, the period from, and including, the Closing Date to, but excluding, the Initial Payment Date, and (ii) thereafter, each successive period from, and including, each Payment Date to, but excluding, the next succeeding Payment Date.

Periodic Interest Accrual Period definition

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