Interest Period means the period commencing on an Interest Payment Date and ending on the day immediately prior to the following Interest Payment Date, provided that the first Interest Period applicable to each Tranche shall commence on the Disbursement Date and end on the day immediately prior to the next Interest Payment Date. “Loan” means the loan granted to the Borrower by the CEB by means of the Agreement.
Interest Period means, in the case of the first such Interest Period, the period commencing on (and including) the Disbursement Date and for each subsequent Interest Period, the period commencing on (and including) an Interest Payment Date and in each case ending on (but excluding) the next Interest Payment Date, provided however that:
Interest Period means, in relation to a Loan, each period determined in accordance with Clause 9 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with Clause 8.3 (Default interest).
Examples of Interest Period in a sentence
The Borrower shall pay interest on the principal of each Tranche from time to time outstanding during each Interest Period at the Fixed Interest Rate/Floating Interest Rate specified in the applicable Disbursement Notice.
Interest shall (i) accrue from and including the first day of the Interest Period to but excluding the last day of such Interest Period; and (ii) be due and payable on the Interest Payment Dates specified in the applicable Disbursement Notice.
In the case of Floating Interest Rate Tranches, the CEB shall determine on each Interest Determination Date the interest rate applicable during the relevant Interest Period in accordance with the Agreement and promptly give notice thereof to the Borrower.
More Definitions of Interest Period
Interest Period means, in relation to a Tranche, each period determined in accordance with Clause 0 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with Clause 0 (Default interest);
Interest Period means the initial period from and including the date of the Loan Agreement to but excluding the first Payment Date occurring thereafter, and after the initial period, each period from and including a Payment Date to but excluding the next following Payment Date.