Stub Interest. As defined in the Note

Stub Interest means (x) with respect to the A Note, the amount of interest accruing on the outstanding principal balance at the Initial A Note Interest Rate for the period from the Closing Date through and including the next succeeding tenth (10th) day of a calendar month, whether such tenth (10th) day shall occur in the calendar month in which the Closing Date occurs or in the month immediately succeeding the month in which the Closing Date occurs, and (y) with respect to any Future Advance made under the B Note, the amount of interest accruing on the outstanding balance advanced from the date of such advance through and including the last day of the current Interest Period, at a rate equal to the lesser of (a) LIBOR plus the LIBOR Spread (assuming for such purpose that a LIBOR Loan had then been in effect), or (b) the Maximum Legal Rate.

Stub Interest means $[___________].

Examples of Stub Interest in a sentence

Borrower shall make a payment to Lender (a) on the date hereof of the Stub Interest and (b) on the First Payment Date and on each Payment Date thereafter up to and including the Maturity Date, of the monthly Debt Service amount, which payments shall be applied first to accrued and unpaid interest and the balance to principal.
Notwithstanding the foregoing, Lender will waive the requirement of payment of the Stub Interest Payment on the Closing Date and the Borrowers hereby agree and covenant to pay the Stub Interest Payment on November 15, 2002.
If the date upon which a Future Advance is disbursed (a “Future Advance Date”) is not a Payment Date (a) Borrower shall pay to Lender on such Future Advance Date an amount equal to interest only on the Future Advance from the Future Advance Date up to and excluding the next Payment Date, in an amount equal to the Stub Interest and (b) on each Payment Date thereafter, Borrower shall make interest payments to Lender with respect to such Future Advance in accordance with Section 2.2 hereof.
On the Closing Date, Borrowers paid an installment of interest in an amount equal to Stub Interest as provided in Section 2.1.2.
On the Closing Date, Issuers paid an installment of interest in an amount equal to Stub Interest as provided in Section 2.1.2(vi).

More Definitions of Stub Interest

Stub Interest means $196,614.44.

Stub Interest means $1,205,744.62.

Stub Interest means $93,800.00.

Stub Interest means $181,133.33.

Stub Interest means $71,726.67.

Stub Interest means $644,874.85.

Stub Interest means $1,200,000.00.