Deferral of Interest and Principal Sample Clauses

Deferral of Interest and Principal. (a) Deferral of Payments Notwithstanding the provisions of Sections 2.6 and 2.7, if the payment of interest on any Interest Payment Date or any Optional Redemption Date or the payment of principal on the Stated Maturity Date or the Maturity Date or any Optional Redemption Date, as the case may be, would cause the Issuer to fail to satisfy the Issuer's Required Net Worth (Patrimônio Líquido Exigido) and other financial ratios to fall below the minimum levels required by regulations generally applicable to Brazilian banks, now existing or hereafter promulgated or enacted by Brazilian banking or monetary authorities (the "Risk-Based Capital Requirements"), the Issuer shall defer such interest or principal payment (and any other amounts payable in respect thereof), as the case may be, pursuant to the terms of Resolution 2837, until the date no later than 14 days after the date the Issuer is no longer in violation of the Risk Based Capital Requirements or the payment of such interest or principal amount, or any portion thereof, would no longer cause the Issuer to violate the Risk Based Capital Requirements. The deferral of any payment in accordance with this Section 2.8(a) shall not constitute an Event of Default. Any amount of interest or principal or any other amounts payable in respect of the Notes not paid on an Interest Payment Date, the Stated Maturity Date, the Maturity Date or the Optional Redemption Date, as the case may be, as a result of such deferral shall, so long as the same remains outstanding, constitute an "Amount in Arrears". The Issuer shall be required to pay any Amount in Arrears within 14 days of such date as it is no longer entitled to defer payment of such amounts. The Issuer shall, as soon as practicable upon becoming aware that the payment of interest or principal will cause it to fail to satisfy the Risk Based Capital Requirements as provided herein, and in any event within two Business Days thereof, deliver to the Trustee (with a copy to Moody's and the Insurer) a certificate, substantially in the form set forth in Exhibit D.
Sample 1
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Deferral of Interest and Principal. (a) Notwithstanding the provisions of Sections 2.6 and 2.7, if on any Interest Payment Date in respect of which interest is due, Unibanco is not in compliance with operational limits, including capital adequacy ratios, established by the Central Bank as in effect from time to time (collectively, the “Operational Limits”) or the payment of interest on any such Interest Payment Date would cause Unibanco to no longer be in compliance with such Operational Limits, no interest shall be payable on the Notes until the date which is five days after the date on which no such conditions exists, but only if such deferral of interest is necessary for the subordinated debt represented by the Notes to qualify as Tier 2 Capital pursuant to Resolution 2837. If on the second Business Day prior to the Expected Maturity Date, the Extended Maturity Date or any Optional Early Redemption Date in respect of which a payment of principal or redemption amount is due, Unibanco is not, or on such maturity date or Optional Early Redemption Date will not be, in compliance with such Operational Limits on such maturity date or Optional Early Redemption Date, such payment will be deferred until the date which is 5 days after the date on which no such condition exists but only if such deferral is necessary for the subordinated debt represented by the Notes to qualify as Tier 2 Capital pursuant to Resolution 2837. The deferral of any payment in accordance with this Section 2.8(a) shall not constitute an Event of Default.
Sample 1

Related to Deferral of Interest and Principal

  • Payments of Interest and Principal (a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture Supplement; and provided, further, that if a Class C(2020-5) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class C(2020-5) Notes in accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class C(2020-5) Notes shall be made as set forth in Section 1102 of the Indenture.

  • Payment of Interest and Principal All unpaid principal, together with any then accrued and unpaid interest and any other amounts payable hereunder, shall be due and payable on November 30, 2020 (the “Maturity Date”). If any payment hereunder becomes due and payable on a Saturday, Sunday or legal holiday under the laws of the United States of America or the State of Minnesota, or both, the due date thereof shall be extended to the next business day and interest shall be payable for any principal so extended for the period of such extension. Payments of principal and interest are to be made at the address provided herein for the Holder (or at such other place as the Holder shall have notified the Debtor in writing at least five (5) days before such payment is due) or by wire transfer pursuant to the Holder’s written instructions. Payments of interest and principal are subordinate to any indebtedness held by Lone Star Value Investors, LP.

  • Interest and Principal The Notes will mature on July 1, 2020 and will bear interest at the rate of 4.250% per annum. The Issuers will pay interest on the Notes on each January 1 and July 1 (each an “Interest Payment Date”), beginning on January 1, 2016, to the Holders of record on the immediately preceding December 15 or June 15 (each a “Record Date”), respectively. Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from and including the date of issuance. Payments of the principal of and interest on the Notes shall be made in Dollars, and the Notes shall be denominated in Dollars.

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.

  • Accrual of Interest Each Note (or in the case of the redemption of part only of a Note, that part only of such Note) will cease to bear interest (if any) from the date for its redemption unless payment of principal is improperly withheld or refused. In such event, interest will continue to accrue until whichever is the earlier of:

  • Cessation of Accrual of Interest Except as provided in Sections 4.02(D), 4.03(E) or 5.02(D), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other property due on such Note.

  • Payments of Interest Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law.

  • Interest and Payments Borrower shall make payments in accordance with the Note at the rate set forth in the Note.

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