Capitalized Interest. Section 2.9 of the Lease is hereby amended to add the following sentence at the end of the Section: During the Construction Period for a Building or phase of Buildings, Capitalized Interest for such Building or phase of Buildings shall be calculated using the Construction Period Monthly Calculation set forth in Section 2.43.
Capitalized Interest. Except as otherwise provided in this Section 2.07(d), and subject to satisfaction of the applicable conditions to Loans set forth in Section 4.04, any interest due on Tranche A Loans prior to the Conversion Date shall be capitalized on the date such interest is due and payable by entry on the books of AEF of such amount as a Tranche A Loan to the Customer. Any such interest so capitalized shall constitute a Tranche A Loan to the Customer for such amount made on the date on which such interest shall have been otherwise due and payable. Pursuant to a written notice delivered to AEF not later than thirty (30) days prior to the date that any interest shall become due and payable, the Customer may elect to terminate the capitalization of interest under this Section 2.07(d), in which case no such capitalization of interest shall occur from and after the first day of the next succeeding Interest Period.
Capitalized Interest. If and to the extent that the Lessee does not request an Advance to pay any Capitalized Interest, then the Lessee will pay the amount thereof to the Lessor on the last day of the Interest Period during which such Capitalized Interest has accrued.
Capitalized Interest. Interest on the Term Loan shall accrue monthly on the last day of each month so long as any principal under the Term Loan is unpaid. Prior to the date on which the Revolving Credit Agreement is terminated and all obligations thereunder have been finally paid in full or if such interest is not paid on the last day of any month thereafter, interest on the Term Loan shall be capitalized and added to the outstanding principal balance of the Term Loan.
Capitalized Interest. The Borrower shall not, and shall not permit its Subsidiaries to, allow the Capitalized Interest, measured as of the end of each Quarter, to exceed 8% of the value of Real Estate Development Assets.
Capitalized Interest. There is hereby established a Capitalized Interest Account within the Debt Service Fund. Capitalized interest, if any, shall be deposited in the Capitalized Interest Account and used to pay the interest on the Series 2010 Bonds as provided in Section 5.05 hereof.
Capitalized Interest. Except as otherwise set forth in the Subordination Agreement, at any time that the Cash Interest Condition is satisfied, Borrowers may pay cash interest to Subordinated Lender in accordance with and subject to the Subordination Agreement. All amounts on deposit in the Sinking Fund Account on the Maturity Date shall be applied by Bank to the then-outstanding principal balance of the Loan and Note. Upon the occurrence of an Event of Default, Bank may, at its discretion, apply all amounts on deposit in the Sinking Fund Account to the Obligations in such order as Bank may determine without consent of or notice to Borrowers or Guarantor.
Capitalized Interest. For any period of determination, interest paid or accrued on a development loan secured by a Development Property. Interest paid or accrued on such a development loan will not be considered to be Capitalized Interest after such time as the sum of (a) the Net Operating Income for such property for a period of three (3) consecutive months, minus (b) interest paid or accrued on such development loan during such period, exceeds zero.
Capitalized Interest. Beginning balance: 0.00 Capitalized interest acct requirement (projected interest shortfall) 0.00 Less amount to be released to residual interest 4.11 Holder on July 10 pursuant to section 5.03(d) Less amount to be distributed to note payment account 0.00 Account on July 6 required by section 5.03(a) Plus Account earnings posted in due period 3.23 Prefunding account earnings posted in due period 0.88 Ending balance on distribution date 0.00 07/01/97 Projected Shortfall Amount Days S. Rate ------ ---- ------- 0.00 x 78 x 4.50% = 0.00 Interest Shortfall ------------------ Wtd Pref. Bal ------------- ERR x 30 x 7.04% = ERR 859,272.75 ERR
Capitalized Interest. Notwithstanding anything herein to the contrary, so long as no Default or Event of Default shall have occurred and be continuing, the Company shall have the right to satisfy its obligation to pay interest with respect to any Note by adding such interest to the principal amount outstanding under such Note, on the applicable interest payment date. The Company shall give the Administrative Agent three Business Days' irrevocable notice that it will exercise such right with respect to interest payable on the next interest payment date.
