Residual Interest Amount definition

Residual Interest Amount means an amount, if any, equal to the sum of the present values, discounted at the most recently determined ISDA Rate (provided, that such rate may not be lower than zero percent) of each of the scheduled payments of accrued interest (but only to the extent such interest would have accrued based on a rate of interest equal to (i) for any day on or prior to August 4, 2018, the applicable Risk Margin, or (ii) for any day after August 4, 2018, zero (0)) that would have been payable from and including the first day of the Interest Accrual Period beginning on the first Interest Payment Date when all Principal Reductions have reduced the Outstanding Nominal Amount to zero through and including the last day of the Interest Accrual Period ending on the Interest Payment Date falling in August 2018.

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Residual Interest Amount means an amount calculated by the Indenture Trustee equal to the sum of the present values, discounted at the Initial Risk Interest Spread, of the premium accrued at the Risk Interest Spread that would have been payable for each of the Premium Payment Periods (or partial Premium Payment Periods) from the first day of the Premium Payment Period immediately prior to the Premium Payment Period in which the Outstanding Limit was reduced to zero to, and including the last day of the first Annual Risk Period.

Residual Interest Amount means an amount equal to the sum of the present value, discounted at an annual rate of the Initial Risk Interest Spread, of each of the scheduled payments of the Interest Spread Amount that would have been payable for the remaining portion of the relevant Accrual Period days during the period from the Payment Date when the Outstanding Principal Amount (including the effect of any Principal Reduction to the Series 2014-2 Notes on such date) has been reduced to zero to and excluding the first anniversary date of the Effective Date.

Examples of Residual Interest Amount in a sentence

Borrower and Lender acknowledge and agree that the Reserve Account and Tenant Security Deposit Account are given as additional security for the performance of Borrower's obligations to pay installments of fixed interest, Residual Interest Amount, Yield Maintenance Documents when due, and as security for the performance of Borrower's obligations under the Agreement.
In connection with any payment of the Residual Interest Amount, if any, under the Indenture, the Ceding Insurer shall pay an additional amount equal to such Residual Interest Amount on the Business Day immediately preceding the date on which such Residual Amount is required to be paid under the Indenture.
On the later of the day that both (x) a Ceding Insurer Bankruptcy Event shall have occurred and (y) the Residual Interest Amount (calculated in respect of the then next succeeding Payment Date) exceeds the then current Outstanding Principal Amount, the Ceding Insurer shall pay an additional premium equal to the excess of the Residual Interest Amount (as so calculated), if any, over the Outstanding Principal Amount as of such date, to the extent such excess is greater than zero.

More Definitions of Residual Interest Amount

Residual Interest Amount means, with respect to each Class of Notes, an amount equal to the present value, discounted at LIBOR, of all the scheduled payments of the Interest Spread that would have been payable on each Payment Date following that Payment Date through and including the fourth Payment Date following the Closing Date.

Residual Interest Amount means the amount of accrued but unpaid interest due and payable by the Company under the Syndicated Facility Agreement as at the date of implementation of the Creditors' Scheme on the basis that no part of that amount is paid during the period between the Calculation Date and the date of implementation of the Creditors' Scheme (inclusive).

Residual Interest Amount means (i) the amount calculated by the Calculation Agent by applying the relevant Residual Interest Rate to an amount equal to the relevant Outstanding Principal Amount represented by such Minimum Denomination or Authorised Integral Amount, as applicable, multiplying the product by the actual number of days in the Payment Period concerned, divided by 360 and rounding the resultant figure to the nearest €0.01 (€0.005 being rounded upwards) plus (ii) in respect of the first Payment Period only, an amount calculated by the Calculation Agent by applying the Class B Fixed Rate of Interest (for this purpose the Cash Current Interest Rate shall be deemed to be zero) to an amount equal to the relevant Outstanding Principal Amount represented by such Minimum Denomination or Authorised Integral Amount, as applicable, and multiplying the product by the actual number of days from (and including) 5 March 2008 to (but excluding) the Issue Date, divided by 360 and rounding the resultant figure to the nearest €0.01 (€0.005 being rounded upwards).

Residual Interest Amount. With respect to any Distribution Date, the sum of (i) the Residual Excess Interest Amount for such Distribution Date and (ii) any unpaid Residual Excess Interest Amounts from prior Distribution Dates.