Deferred Interest Payment Clause Samples

Deferred Interest Payment. Borrower shall pay to Collateral Agent, for payment to each Lender in accordance with its respective Pro Rata Share, a deferred interest payment (the “Deferred Interest Payment”) equal to three percent (3.00%) of the aggregate original principal amount of the Term Loan. The Deferred Interest Payment is fully earned as of the Effective Date and shall be due and payable on the earliest of (i) of June 30, 2011 or (ii) the prepayment of the Term Loan pursuant to Sections 2.2(c) and 2.2(d).