Examples of Total Interest Payable in a sentence
In the event of a prepayment in full of the Note under Section 1.4, 1.5 or 1.6 or acceleration of the Principal Balance under Section 9.2, a prepayment penalty shall be due and payable equal to the excess (if any) of the Minimum Interest Amount over the Total Interest Payable that has accrued as of the date of the Mandatory Prepayment Event or the date of such acceleration under Section 9.2, as applicable (such amount shall be referred to as the "Prepayment Penalty").
If the Total Interest Payable exceeds the Minimum Interest Amount, no Additional Interest shall be payable.
Prior to the Loan Repayment Commencement Date, Lender shall determine the sum of (i) the Capitalized Interest and (ii) the total amount of interest payable under Section 1.2 from the Loan Repayment Commencement Date through the Maturity Date (such sum shall be referred to as the "Total Interest Payable").
If the Total Interest Payable is less then One Million and no/100 Dollars ($1,000,000.00) (the "Minimum Interest Amount"), the difference between the Total Interest Payable and the Minimum Interest Amount shall be due and payable in twelve (12) equal quarterly installments commencing on the Loan Repayment Commencement Date, in the same manner as the Principal Balance and interest thereon at the Applicable Rate (such payments shall be referred to as "Additional Interest").
If the Total Interest Payable is less then $300,000.00 (the "Minimum Interest Amount"), the difference between the Total Interest Payable and the Minimum Interest Amount shall be due and payable in twelve (12) equal quarterly installments commencing on the Loan Repayment Commencement Date, in the same manner as the Principal Balance and interest thereon at the Applicable Rate (such payments shall be referred to as "Additional Interest").