Interest Allowance definition

Interest Allowance means an annual rate mutually agreed upon by the Parties which is intended to represent a reasonable borrowing cost taking into account current market conditions. [REDACTED]
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Interest Allowance means the sum of $16,479,768.32 identified on the Cost Breakdown in the “Interest Reserve” Budget Line Item and subject to disbursement in accordance with the provisions of Section 10.6 of this Loan Agreement.
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Interest Allowance means an interest allowance determined in accordance with section 8;
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Examples of Interest Allowance in a sentence

  • Nevertheless, the creation of the Interest Allowance shall not release Borrower from its contractual obligation to pay interest under the terms of the Note to the extent the Interest Allowance is insufficient to pay all of the interest under the Note nor shall Lender be obligated under the terms of this Loan Agreement or the Loan Documents to use the Interest Allowance for the payment of accrued interest after the occurrence and during the continuance of an Event of Default.

  • The Interest Allowance has been allocated from the proceeds of the Loan.

  • The foregoing sums shall be so used until such time as the Interest Allowance has been exhausted, so long as no Event of Default has occurred and is continuing.

  • Each such Disbursement from the Interest Allowance shall constitute a Disbursement of Loan Proceeds and shall increase the principal amount of the Loan by an amount equal to such Disbursement, however, no such Disbursement shall count as a Funding Requisition under Section 12.2(b).

  • Provided that no Event of Default has occurred and is continuing and the loan is In Balance, sums from the Interest Allowance shall be advanced by Lenders as needed for the exclusive purpose of paying accrued interest as it comes due under the Note.

Related to Interest Allowance

  • SO2 Allowance means “allowance” as defined at 42 U.S.C. § 7651a(3): “an authorization, allocated to an affected unit by the Administrator of EPA under Subchapter IV of the Act, to emit, during or after a specified calendar year, one ton of sulfur dioxide.”

  • Monthly Interest means, for any Payment Date, the sum of the Class A Monthly Interest, the Class B Monthly Interest and the Class C Monthly Interest for such Payment Date.

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

  • Class A-2 Monthly Interest means (i) for the initial Distribution Date, $275,916.67, and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-2 Rate and (B) the outstanding principal balance of the Class A-2 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-2 Notes on or before such preceding Distribution Date).

  • Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Class A-1 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, the product of (A) the actual number of days elapsed during the period from and including the preceding Distribution Date to but excluding such Distribution Date divided by 360, (B) the Class A-1 Rate and (C) the outstanding principal balance of the Class A-1 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-1 Notes on or before such preceding Distribution Date).

  • Note Monthly Interest means, for a Class and a Payment Date, the aggregate amount of interest accrued on the Note Balance of the Class at the Note Interest Rate for the Class for the related Interest Period.

  • Class D Monthly Interest means, for any Distribution Date, one-twelfth (or, in the case of the first Distribution Date, the number of days from and including the Closing Date to but excluding the 15th day of the month in which such Distribution Date occurs, assuming each month has 30 days, divided by 360) of the product of (A) the Class D Rate and (B) the outstanding principal balance of the Class D Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class D Notes on or before such preceding Distribution Date).

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • Special Allowance Payments means payments, designated as such, consisting of effective interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Credit allowance date means with respect to any qualified equity investment:

  • Monthly Interest Distributable Amount With respect to any Distribution Date and each Class of Certificates, other than the Class P, Class R and Class C Certificates, an amount equal to the amount of interest accrued during the related Interest Accrual Period at the related Pass-Through Rate on the Class Principal Amount of such Class of Certificates immediately prior to such Distribution Date, in each case, reduced by any Net Prepayment Interest Shortfalls allocated to such Class of Certificates and any Relief Act Interest Shortfalls allocated to such Class of Certificates, in each such case, as such shortfalls are allocated pursuant to Section 1.02 herein.

  • NOx Allowance means an authorization to emit a specified amount of NOx that is allocated or issued under an emissions trading or marketable permit program of any kind that has been established under the Clean Air Act or a state implementation plan.

  • Class Expenses means expenses incurred by a particular Class in connection with a shareholder services arrangement or a distribution plan that is specific to such Class or any other differing share of expenses or differing fees, in each case pursuant to a plan adopted by the Trust pursuant to Rule 18f-3 under the 1940 Act, as such plan or Rule may be amended from time to time;

  • Collateral Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Retirement allowance means the retirement payments to which a member is entitled.

  • Preferred Allowance means the amount a Preferred Provider will accept as payment in full for Covered Medical Expenses.

  • Class B Note Interest Shortfall means, for any distribution date, the excess of: • the Class B Noteholders’ Interest Distribution Amount on the preceding distribution date, over • the amount of interest actually distributed to the class B noteholders on that preceding distribution date, plus interest on the amount of that excess, to the extent permitted by law, at the class B note interest rate from that preceding distribution date to the current distribution date.

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.