Interest in Arrears definition

Interest in Arrears means additional annual interest at a rate of 3.25% which shall be added to the interest rate which the Debentures (Series C) shall bear at that time. The Company shall notify of the rate of the interest in arrears and of the date of payment as mentioned in an Immediate Report and this two (2) Trading Days before the actual payment date.
Sample 1Sample 2
Interest in Arrears means interest at a rate of 3% on annual basis that will be added to the interest rate that the Bonds carry in respect of the said period, calculated pro-rata for the period as of the date set for payment and until the actual payment date, based on 365 days a year. In the event interest in arrears is published, the Company shall publish an immediate report at least two (2) business days prior to such payment as aforesaid in which the Company shall notify about the rate of the interest in arrears and the interest in arrears that will be paid and that includes the interest rate that the Bonds carry in addition to the interest in arrears and the payment date of the total interest for that period.
Sample 1
Interest in Arrears means annual interest for the Notes as shall be set in a tender according to the Shelf Offering Report (or updated interest as shall be set according to the mechanism set forth in Section 6 of the terms written overleaf), plus interest at an annual rate of 3.5% calculated pro rata for the period from the date set for payment until the actual payment date. In the event interest in arrears shall be paid, the Company shall publish an immediate report, at least two (2) trading days before such payment date, where it shall announce the rate of the interest in arrears and the payment date for that period. It is clarified that whoever is not registered in the Registry of Notes (Series B) of the Company on any of the dates set forth in this section, shall not be entitled to interest payment for the Interest Period that commenced before such date. 5.3. Any mandatory payment insofar as required under law shall be deducted from payment for the Notes. 5.4. The payment to the entitled party shall be made with a check or wire transfer payable to the bank account of the persons whose names shall be registered in the Registry and whose details shall be provided to the Company in writing ahead of time, according to anything set forth in this section below, or in the event the clearing is performed through the TASE Clearing House - through the clearing house. Should the Company be unable, for any reason beyond its control, to pay any amount to the person entitled thereto, whereas the Company could have paid it in full and on time, it shall deposit such amount with the Trustee as set forth in Section 7 below.
Sample 1

Examples of Interest in Arrears in a sentence

  • Nova Scotia (Workers' Compensation Appeals Tribunal) and Johnstone (1999), 181 N.S.R. (2d) 247 (C.A.)].

  • Without derogating from the foregoing, and without derogating from any relief and/or remedy and/or right granted to the Landlord in accordance with the Agreement and/or in accordance with the provisions set forth in any law, it is agreed and emphasized that any amount that the Landlord will pay in lieu of the Tenant as stated above shall carry Interest in Arrears as of its payment date by the Landlord and until the actual date the payment is returned.

  • Interest in Arrears - 2% on overdue and outstanding capital+ interest rate.

  • Interest in Arrears - 3% on overdue and outstanding capital+ interest rate.

  • In Determining the Prospective Member's Ability to Pay, consideration must be given to any eligible assistance payment shown on FHA Form 3131 (Application for Eligibility Under Section 236).

  • The organization shall employ or contract for a profes- sional services director who is licensed as a physician or health service professional in psychology and who is not the same person as the chief executive officer.

  • Interest Rate - An interest rate of 4.6% for the first 3 years and thereafter, a six-month Libor Rate + 3.80%, Interest in Arrears - An interest rate of 2 additional points will be recognized for the previously defined rate.

  • If notice is given by the Issuer of its intention to pay the whole or any part of Interest in Arrears and other accrued interest, including Additional Interest, the Issuer shall be obligated (subject to the conditions set forth in Conditions 3(b)(i) and 3(b)(ii)(2)) to do so upon the expiration of such notice.

  • If don’t know of the breach of fiduciary duty, may still be HDC- Overdue- Payable at Definite Time: If payable on specific date and obtain it after, Plaintiff cannot be an HDC- Principal in Arrears (given in facts): No HDC Status if on Notice of Principal in Arrears- Interest in Arrears: Even if have Notice of Interest in Arrears, can still be HDC- Payable on Demand: Reasonable Time.

  • If the security is a share of stock and pays a dividend, the third-party owner is treated as receiving the dividend.


More Definitions of Interest in Arrears

Interest in Arrears means annual interest for the Notes as shall be set in a tender according to the Shelf Offering Report (or updated interest as shall be set according to the mechanism set forth in Section 6 of the terms written overleaf), plus interest at an annual rate of 3.5% calculated pro rata for the period from the date set for payment until the actual payment date. In the event interest in arrears shall be paid, the Company shall publish an immediate report, at least two (2) trading days before such payment date, where it shall announce the rate of the interest in arrears and the payment date for that period.
Sample 1
Interest in Arrears means annual interest for the Notes as shall be set in a tender according to the Shelf Offering Report (or updated interest as shall be set according to the mechanism set forth in Section 6 of the terms written overleaf), plus interest at an annual rate of 3.5% calculated pro rata for the period from the date set for payment until the actual payment date. In the event interest in arrears shall be paid, the Company shall publish an immediate report, at least two (2) trading days before such payment date, where it shall announce the rate of the interest in arrears and the payment date for that period. It is clarified that whoever is not registered in the Registry of Notes (Series D) of the Company on any of the dates set forth in this section, shall not be entitled to interest payment for the Interest Period that commenced before such date. 6.3. Any mandatory payment insofar as required under law shall be deducted from payment for the Notes. 6.4. Payment of the Principal and interest shall be made subject to the linkage terms as set forth in Sections 2 and 4 above. 6.5. The payment to the entitled party shall be made with a check or wire transfer payable to the bank account of the persons whose names shall be registered in the Registry and whose details shall be provided to the Company in writing ahead of time, according to anything set forth in this section below, or in the event the clearing is performed through the TASE Clearing House - through the clearing
Sample 1
Interest in Arrears. When dealing with Colombian pesos, it shall mean the rate for payment in arrears on the date of the default; when dealing with Dollars of the United States of America, it shall mean the LIBOR (London Interbank Borrowing Offered Rate) prime rate on three-month term deposits in USA currency, plus four per cent (LIBOR plus 4%).
Sample 1
Interest in Arrears means the highest interest rate set by Bank Leumi le-Israel Ltd. with respect to credit withdrawals in excess from a business bank account beyond the authorized credit limit.
Sample 1

Related to Interest in Arrears

  • Arrears for this purpose means, in respect of a Loan, on any date that two or more Monthly Payments have become due and remain unpaid by the relevant Borrower, and this reporting line relates to repurchases under clause 8.11 of the Mortgage Sale Agreement.

  • Interest Reset Period The period beginning on the applicable Reset Date and ending on the calendar day preceding the next Reset Date.

  • Arrears of Interest means as at any date in respect of any Loan, interest (other than Capitalized Interest or Accrued Interest) on that Loan which is currently due and payable and unpaid on that date;

  • Periodic Rate Cap With respect to each Adjustable Rate Mortgage Loan and any Adjustment Date therefor, the fixed percentage set forth in the related Mortgage Note, which is the maximum amount by which the Mortgage Rate for such Mortgage Loan may increase or decrease (without regard to the Maximum Mortgage Rate or the Minimum Mortgage Rate) on such Adjustment Date from the Mortgage Rate in effect immediately prior to such Adjustment Date.

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Interest Income means interest earned on the Funding;

  • Rate Year means July 1st of a given Calendar Year through June 30th of the succeeding Calendar Year.

  • Periodic Mortgage Rate Cap With respect to an Adjustable Rate Mortgage Loan, the periodic limit on each Mortgage Rate adjustment as set forth in the related Mortgage Note.

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on March 20, 2020 and ending on and including June 19, 2020, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Interest Period End Date means the date or dates specified as such in, or determined in accordance with the provisions of, the Final Terms and, if an Applicable Business Day Convention is specified in the Final Terms, as the same may be adjusted in accordance with the Applicable Business Day Convention or, if the Applicable Business Day Convention is the FRN Convention and an interval of a number of calendar months is specified in the Final Terms as the Interest Accrual Period, such dates as may occur in accordance with the FRN Convention at such specified period of calendar months following the Interest Commencement Date (in the case of the first Interest Period End Date) or the previous Interest Period End Date (in any other case) or, if none of the foregoing is specified in the Final Terms, means the date or each of the dates which correspond with the Interest Payment Date(s) in respect of the Instruments.

  • Fixed Rate Interest Period means the period beginning on (and including) the Issue Date and ending on (but excluding) the first Fixed Rate Interest Payment Date, and each successive period beginning on (and including) a Fixed Rate Interest Payment Date and ending on (but excluding) the next succeeding Fixed Rate Interest Payment Date.

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Interest Period Date means each Interest Payment Date unless otherwise specified hereon.

  • Periodic Rate Floor With respect to each Adjustable Rate Mortgage Loan, the provision of each Mortgage Note which provides for an absolute maximum amount by which the Mortgage Interest Rate therein may decrease on an Interest Rate Adjustment Date below the Mortgage Interest Rate previously in effect. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.

  • Interest Remittance Amount With respect to any Mortgage Pool and Distribution Date, (a) the sum of (1) all interest collected (other than in connection with Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments in such Mortgage Pool during the related Collection Period by the Servicers, the Master Servicer, or the Trustee (solely acting in its capacity as successor Master Servicer), minus (x) the Servicing Fee with respect to the Mortgage Loans and (y) previously unreimbursed Advances and other amounts due to the Servicers, the Master Servicer or the Trustee (solely acting in its capacity as successor Master Servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans, (2) any Compensating Interest Payments with respect to the Mortgage Loans in such Mortgage Pool with respect to the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), (3) the portion of any Purchase Price, as applicable, or Substitution Amount paid with respect the Mortgage Loans in such Mortgage Pool during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period) allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Trustee, the Master Servicer or each Servicer to the extent provided in this Agreement and each Servicing Agreement, and the Custodian pursuant to the Custodial Agreement; provided, however, that in the case of the Trustee, such reimbursable amounts may not exceed $500,000 during any Anniversary Year up to and including the Anniversary Year in which the Stepdown Date occurs and $200,000 during any Anniversary Year thereafter (the “Applicable Maximum Reimbursement Amount”). In the event that the Trustee incurs reimbursable amounts in excess of the Applicable Maximum Reimbursement Amount in any Anniversary Year, it may obtain reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than the Applicable Maximum Reimbursement Amount in aggregate be reimbursed to the Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Trustee pursuant to Section 6.14(a) in connection with any transfer of servicing shall be excluded in determining the Applicable Maximum Reimbursement Amount limitation on reimbursable amounts per Anniversary Year. For the avoidance of doubt, (i) the Interest Remittance Amount available on each Swap Payment Date for distributions to the Supplemental Interest Trust Account shall be equal to the Interest Remittance Amount on the related Distribution Date and (ii) the Interest Remittance Amount for each Distribution Date shall be calculated without regard to any distributions to the Supplemental Interest Trust Account on the related Swap Payment Date.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Interest Charges means, for any period, the sum of: (a) all interest, charges and related expenses payable with respect to that fiscal period to a lender in connection with borrowed money or the deferred purchase price of assets that are treated as interest in accordance with GAAP, plus (b) the portion of Capitalized Lease Obligations with respect to that fiscal period that should be treated as interest in accordance with GAAP, plus (c) all charges paid or payable (without duplication) during that period with respect to any Hedging Agreements.

  • Interest Reset Date means, with respect to any Interest Period with respect to the Floating Rate Notes, the first day of such Interest Period; provided that if any Interest Reset Date would otherwise be a day that is not a Business Day, that Interest Reset Date will be postponed to the next succeeding day that is a Business Day, except that if that Business Day falls in the next succeeding calendar month, such Interest Reset Date will be the immediately preceding Business Day.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Euro-Rate Reserve Percentage means, the maximum effective percentage in effect on such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve requirements) with respect to eurocurrency funding (currently referred to as “Eurocurrency Liabilities”).

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).