Examples of Current Pay Interest in a sentence

Funds from the Interest Reserve shall only be used to pay Current Pay Interest and may not be used to pay PIK Interest or be used to reduce the outstanding balance of accrued PIK Interest during any period of time in which the PIK Balance Trigger is met.
Provided that no Event of Default has occurred and is continuing, after accounting for funds applied pursuant to Section 2.7(d)(ii), Lender shall apply amounts, if any, in the Interest Reserve Account toward any shortfalls in Current Pay Interest on each Payment Date.
On the Third Amendment Effective Date, Borrower shall deposit with or on behalf of Lender the amount of $2,500,000.00 (the “Interest Reserve Funds”) and the account in which such amounts are held shall hereinafter be referred to as the “Interest Reserve Account” to pay Current Pay Interest.

More Definitions of Current Pay Interest

Current Pay Interest has the meaning assigned to that term in Section 2.4(a).

Current Pay Interest. Is defined in Section 3:3-4(b)(i)

Current Pay Interest has the meaning provided therefor in Section 2.9(b)(ii).

Current Pay Interest. Is defined in Section 3-4(a)(i).

Current Pay Interest. Is defined in Section 2(A)-4(a)(i).

Current Pay Interest means interest that accrues from time to time pursuant to Section 2.06(a) hereof.

Current Pay Interest. Interest shall be payable upon Advances under the Term Loan and the Working Capital Facility at the rates per annum set forth below: April 1 - September 30, 2001 Prime Rate plus 2.25% October 1 - December 31, 2001 Prime Rate plus 2.50% January 1 - April 1, 2002 Prime Rate plus 3.50% Interest shall continue to be payable on a monthly basis in arrears.