Permitted Interest Payments definition

Permitted Interest Payments has the meaning specified in Section 2.3(a).

Permitted Interest Payments means any payments which a Rig Owner is required to make to the Hedging Provider pursuant to the terms of the Hedging Agreement to which that Rig Owner is a party (subject always to any terms thereof permitting the netting, between that Rig Owner and the Hedging Provider, of amounts based upon, on the one hand, a floating interest rate and, on the other hand, the Fixed Rate) (each a “Permitted Interest Payment”);

Permitted Interest Payments means, at any time with respect to any Benefited Obligation, regularly scheduled payments of interest made by the Company with respect to such Benefited Obligation so long as no Event of Default exists at such time.

Examples of Permitted Interest Payments in a sentence

• No prepayments of interest which have not yet accrued under the applicable Subordinated Debt Documents shall be permitted by this Agreement, and no such prepayments of such interest shall constitute "Permitted Interest Payments" for purposes of this Agreement.

• No prepayments of interest which has not yet accrued under applicable Subordinated Debt Documents shall be permitted by this Agreement, and no such prepayments of such interest shall constitute "Permitted Interest Payments" for purposes of this Agreement.

• For avoidance of doubt, no Permitted Interest Payments may be made or accepted if a Trigger Event or Potential Trigger Event has occurred and is continuing.

• Notwithstanding any provision contained herein to the contrary, until the Maturity Date, Subordinate Lender may receive and retain (i) Permitted Interest Payments from Borrower, and (ii) provided no Default or Potential Default (as each of such terms are defined in the Senior Credit Agreement) has occurred and is continuing, the outstanding principal balance of the Subordinate Note on the maturity date thereof.

More Definitions of Permitted Interest Payments

Permitted Interest Payments means regularly scheduled cash payments of interest, at the non-default rate of interest, pursuant to and in accordance with the Subordinated Notes.

Permitted Interest Payments means cash payment by the Loan Parties of regularly scheduled cash interest payments on the Subordinated Debt subject to the following conditions: (a) no less than 50% of such payment is paid by the Sponsor directly or indirectly from the proceeds of a Seller Subordinated Debt Contribution made by the Sponsor to the Parent to the extent required by Section 26 of the Sponsor Guaranty and (b) the rate of interest for any such interest payments shall not exceed 8% per annum.

Permitted Interest Payments means regularly scheduled payments of interest on the Subordinated Note that are payable prior to the Maturity Date.

Permitted Interest Payments means, in respect of any Subordinated Intercompany Debt, regularly scheduled (and not default or compounded) interest on such Subordinated Intercompany Debt due and payable by Newco or Acquisition Sub on a non-accelerated basis under the Subordinated Debt Documents (as such Subordinated Debt Documents are in effect on the date hereof) to Acquisition Sub or Tower, respectively, in each case at a rate not exceeding 2.0% per annum.

Permitted Interest Payments means payments of regularly scheduled interest in respect of Intercompany Subordinated Indebtedness by way of one or more of the following:

Permitted Interest Payments means any payments which the Borrower is required to make to the Hedging Provider pursuant to the terms of the Hedging Agreements (subject always to any terms thereof permitting the netting, between the Borrower and the Hedging Provider, of amounts based upon, on the one hand, a floating interest rate and, on the other hand, the Fixed Rate) (each a “Permitted Interest Payment”);

Permitted Interest Payments has the meaning set forth in Section 5.i.