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.
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.
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.
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.
If the Interest Payment Conditions are not satisfied with respect to any calendar month, resulting in the Permitted Interest Payments for that month not being made, then at the end of any subsequent calendar month, if the Interest Payment Conditions are satisfied based on a cumulative calculation that includes all unpaid Permitted Interest Payments, then the sum of the unpaid Permitted Interest Payments for all such previous calendar months may be paid.