Examples of Interim Interest Payment Date in a sentence
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However, the funds may actually be withdrawn on and after the Business Day following the Interim Interest Payment Date.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).
If there remains an Individual Loan A with a Repayment Date or Interim Interest Payment Date that arrives on or after the day following the Desired Termination Date, the Costs Increased Lender A shall notify the Agent of the Break Funding Cost by two (2) Business Days prior to the Desired Termination 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.
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.
Lessor agrees to give notice to Lessee and the Indenture Trustee at least five Business Days prior to the Interim Interest Payment Date, if the funds for the payment of interest on the Equipment Notes contemplated to be made by Owner Trustee on such date pursuant to Section 2.2(c) of the Participation Agreement will not be paid by Owner Trustee to the Indenture Trustee in an amount equal to the amount contemplated to be paid pursuant to Section 2.2(c) of the Participation Agreement.
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").
The Owner Participant shall have no personal liability to advance any such funds and shall notify the Owner Trustee and the Lessee at least five Business Days prior to the Interim Interest Payment Date if the Owner Participant will not advance Interim Interest to the Owner Trustee.