Common use of Accrual of Interest Clause in Contracts

Accrual of Interest. Each Certificate (or in the case of the redemption of part only of a Certificate, that part only of such Certificate) will cease to bear interest (if any) from the date for its redemption or exercise, as the case may be, unless payment of principal and/or delivery of all assets deliverable is improperly withheld or refused. In such event, interest will continue to accrue until whichever is the earlier of: (i) the date on which all amounts due in respect of such Certificate have been paid and/or all assets deliverable in respect of such Certificate have been delivered; and (ii) five days after the date on which the full amount of the moneys payable in respect of such Certificate has been received by the Principal Certificate Agent and/or all assets in respect of such Certificate have been received by any agent appointed by the Issuer to deliver such assets to Holders and notice to that effect has been given to the Holders in accordance with Condition 11, provided that if Credit Certificate Condition 1(B) or Credit Certificate Condition 2 applies in respect of the Certificates; and (A) Accrual of Interest upon Credit Event" is specified as Not Applicable in the applicable Final Terms, each Certificate shall cease to bear interest from the Interest Period End Date immediately preceding the Credit Event Determination Date, or if the Credit Event Determination Date is an Interest Period End Date such Interest Period End Date or, if the Credit Event Determination Date falls prior to the first Interest Period End Date, no interest shall accrue on the Certificates; or (B) Accrual of Interest upon Credit Event" is specified as being Applicable in the applicable Final Terms, each Certificate shall cease to bear interest from the Credit Event Determination Date; and provided further that, if: