Interest accrued means interest earned, as at a specific date, not yet added to the account balance;
Interest accrued pursuant to this Section 3.4.2 on any overdue principal of any of the Loans, and, to the maximum extent permitted by Applicable Law, on any overdue interest, fees or other sums, shall be payable upon demand and, in any event, on the last Business Day of each month.
Interest accrued on Prime Revolving Loans shall be paid on or before the 10th day of each month in an amount equal to the interest accrued as of the last day of the immediately preceding month. Interest accrued on LIBOR Revolving Loans shall be paid on the last day of the Interest Period with respect thereto and, in the case of an Interest Period greater than three months (if such an Interest Period is permitted under this Agreement), at three month intervals after the first day of such Interest Period. All outstanding principal and accrued interest of the Revolving Loans shall be paid in full on the Maturity Date.
Examples of Interest accrued in a sentence
Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Interest accrued on a Note that only bears interest after its Maturity Date shall be payable on redemption of such Note against presentation of the relevant Note or Certificate representing it, as the case may be.
Interest accrued pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Revolving Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the account of such Lender to the extent of such payment.
Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period.
Interest accrued on each Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which the Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity.
More Definitions of Interest accrued
Interest accrued on the Loans transferred as contemplated by this paragraph and fees accrued in respect of the commitments transferred as contemplated by this paragraph shall accrue to the transferor Lender through the date such transfer is actually made by payment by the transferee Lender for such Loans transferred and such interest and fees shall accrue to the transferee Lender thereafter.
Interest accrued on each Eurodollar Loan shall be payable on the last day of its applicable Interest Period, on any date on which such Eurodollar Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Floating Rate Loan shall be payable on each Payment Date, on any date on which such Floating Rate Loan is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Loan having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. All Interest, Facility Fees and Letter of Credit Fees hereunder shall be calculated for actual days elapsed on the basis of a 360-day year. Interest shall be payable for the day a Loan is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on a Loan shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.
Interest accrued on this Note shall be payable semi-annually, in arrears, on the last day of June and December of each year, commencing on June 30, 1998, and the remaining accrued interest shall be payable in full, together with the then unpaid principal amount of this Note, on the earliest to occur of (i) the Maturity Date, (ii) the Prepayment Date and (iii) the Acceleration Date.
Interest accrued on loans subsequently charged off, recorded as a reduction of interest revenue, was $127 million, $116 million and $199 million in fiscal 2000, fiscal 1999 and fiscal 1998, respectively. At November 30, 2000 and 1999, $5,467 million and $5,248 million of the Company's consumer loans had minimum contractual maturities of less than one year. Because of the uncertainty regarding consumer loan repayment patterns, which historically have been higher than contractually required minimum payments, this amount may not necessarily be indicative of the Company's actual consumer loan repayments. At November 30, 2000, the Company had commitments to extend credit for consumer loans in the amount of $262 billion. Commitments to extend credit arise from agreements to extend to customers unused lines of credit on certain credit cards, provided there is no violation of conditions established in the related agreement. These commitments, substantially all of which the Company can terminate at any time and which do not necessarily represent future cash requirements, are periodically reviewed based on account usage and customer creditworthiness. The Company received net proceeds from asset securitizations of $9,760 million, $2,997 million and $4,466 million in fiscal 2000, fiscal 1999 and fiscal 1998, respectively. The uncollected balances of consumer XXXXXX XXXXXXX XXXX XXXXXX & CO. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS--(Continued) loans sold through asset securitizations were $25,256 million and $16,977 million at November 30, 2000 and 1999, respectively. The estimated fair value of the Company's consumer loans approximated carrying value at November 30, 2000 and 1999. The Company's domestic consumer loan portfolio, including securitized loans, is geographically diverse, with a distribution approximating that of the population of the U.S.
Interest accrued on each Loan shall be payable in arrears on each Payment Date. If all or a portion of the principal amount of or interest on the Notes shall not be paid when due (whether at the Final Maturity Date thereof, by acceleration or otherwise), such LOAN AGREEMENT
Interest accrued on this Note shall be payable in full, together with the then unpaid principal amount of this Note on the Maturity Date.
Interest accrued since any preceding payment of interest (or, in the case of the first payment of interest, since the date of this Note) shall be paid annually commencing November 6, 1997 and continuing on the same day of each succeeding year, with the final payment due and payable no later than November 6, 2005. Any interest due and owing under this Note but not paid shall be compounded annually on November 6 of each year if not paid on the due date or within the 10-day grace period allowed below under "Events of