Interim Interest Payment Date definition
Examples of Interim Interest Payment Date in a sentence
On each Interim Interest Payment Date, as a part of interest, interim interest (hereinafter, “Interim Interest”) shall be paid for the period from the deposit date or the previous Interim Interest Payment Date to the date immediately before the Interim Interest Payment Date, and at the contractual interest rate.
On each Interim Interest Payment Date, as a part of interest, interim interest (hereinafter, “Interim Interest”) shall be paid based on the period from the deposit date or the previous Interim Interest Payment Date to the date immediately before the Interim Interest Payment Date, and at the contractual interest rate.
On each Interim Interest Payment Date, as a part of interest, Interim Interest shall be paid based on the period from the deposit date or the previous Interim Interest Payment Date to the date immediately before the Interim Interest Payment Date, and at the contractual interest rate.
On the Interim Interest Payment Date for a Loan, Borrower shall pay interest accruing on such Loan from the applicable Closing Date through and including the last day of the calendar month immediately preceding the applicable Interim Interest Date.
However, the interest on deposits with a term of two (2) years shall be paid as follows: ① The interim interest amount due on the date twelve (12) months from the date of deposit (the "Interim Interest Payment Date"), calculated by multiplying seventy percent (70%) of the Contracted Rate by the number of days from the date of deposit until the day before the Interim Interest Payment Date (the "Interim Interest"), shall be paid as part of the interest as of the Interim Interest Payment Date.
However, the funds may actually be withdrawn on and after the Business Day following the Interim Interest Payment Date.
SMBC Trust Bank shall designate the last Business Day of each month during the period from the deposit date to the maturity date as the "Interim Interest Payment Date" and shall pay the interest (the "Interim Interest") for each month in accordance with the Applicable Interest Rate provided in 3.(1) (however, if the number of days from the deposit date to the first Interim Interest Payment Date is less than one (1) month, the calculation shall be made on a prorated daily basis).
On the Interim Interest Payment Date, Borrowers shall jointly and severally pay interest accruing on the outstanding principal amount of the Note from the Closing Date through and including the last day of the calendar month immediately preceding the Interim Interest Date.
On the Interim Interest Payment Date, the Owner Trustee covenants and agrees that it will pay, using funds that are to be advanced by the Owner Participant on such date, to the Indenture Trustee the interest (the "Interim Interest") due and payable to the Loan Participant on such date under the Equipment Notes.
If and to the extent that the Indenture Trustee on the Interim Interest Payment Date, shall not have received funds from Owner Trustee sufficient for the payment in full of the interest then due and owing on the Equipment Notes, Lessee shall pay as Supplemental Rent, in one installment due on the Interim Interest Payment Date an amount, if any, equal to such deficiency (such payment being referred to herein as an "Advance").