Examples of Deferred Interest Rate in a sentence
Interest on the outstanding principal amount of the Loans shall accrue from and including the date of issuance through and until full and final repayment of the principal amount of the Loans and payment of all interest in full at an aggregate rate equal to (i) the Current Interest Rate plus (ii) the Deferred Interest Rate and shall be compounded monthly and computed on the basis of the actual number of days elapsed and a 360-day year.
All references to outstanding principal herein shall refer to the original principal amount as increased from time to time on account of interest at the Deferred Interest Rate added to principal.
In addition, the outstanding principal amount of each Loan shall accrue interest from and after its Funding Date at the Deferred Interest Rate, and such interest shall be added to outstanding principal on each Payment Date following such Funding Date.
The full remaining portion of all interest accruing on the Loans at the Deferred Interest Rate (the “Deferred Interest”) may, at the option of the Borrower, be paid in cash on each Interest Payment Date and, to the extent not paid in cash, shall be paid as set forth in Section 2.6(b).
Notwithstanding the foregoing, the applicable interest rate for the outstanding balance under the Term Loan Facility from the Closing Date until the first date on which the Rate Index or Rate Margin may be changed will be 14.71% per annum (i.e., the Adjusted LIBO Rate applicable for a 3-month period as of the Closing Date plus a Current Interest Rate Margin of 8% per annum plus a Deferred Interest Rate Margin of 3% per annum).