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. 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. 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. 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. To the extent that Maker elects to add accrued interest at any Interest Payment Date to the principal of this Note ("Capitalization of the Interest"), such accrued interest shall thereafter be included in the principal amount of this Note for all purposes. In connection with any such election by Maker, Maker shall notify in writing each of the persons constituting Payee of its election and include in such notice a statement setting forth the new principal of the Note as of such Interest Payment Date. Any notice hereunder to each of the persons constituting Payee shall be delivered to the respective addresses set forth in Maker's records unless and until any such person provides written notice to Maker to the contrary.
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. The Trustee shall deposit the amounts in the Capitalized Interest Account separate from any other fund or account and apply such amount to the payment of the interest on the Bonds as the same shall become due until the earlier of the Completion Date or the exhaustion of amounts in such Account (the “Capitalized Interest Period”). On the Business Day immediately preceding each Interest Payment Date during the Capitalized Interest Period, the Trustee shall transfer from the Capitalized Interest Account to the Interest Account an amount sufficient to pay the interest on the Bonds becoming due on the immediately succeeding Interest Payment Date. Upon the Completion Date, unless the Trustee has received an opinion from Bond Counsel that the continued use of the capitalized interest to pay interest on the Bonds will not cause the Bonds to lose their tax-exempt status, the Trustee shall transfer any balance remaining in the Capitalized Interest Account to the Project Costs Account to pay any remaining Project Costs. In addition, if, on the Business Day immediately preceding any Interest Payment Date occurring prior to the Completion Date, the amount on deposit in the Capitalized Interest Account is not sufficient to pay the interest on the Bonds becoming due on the next succeeding Interest Payment Date, the Trustee shall transfer from the Project Costs Account to the Interest Account an amount which, when added to the amount on deposit in the Interest Account (after giving effect to any transfer to such Fund from the Capitalized Interest Account as provided above), is sufficient to pay the interest on the Bonds becoming due on such Interest Payment Date.