Interim Repayment definition

Interim Repayment means the payment in respect of interest accruing during the period from each Drawdown Date to the First Monthly Repayment Date being the amount of interest accruing at the Applicable Interest Rate on the amount drawn down for the period from and including the Drawdown Date to First Monthly Repayment Date;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Interim Repayment means an amount equal to the Monthly Repayment amount multiplied by a fraction of which numerator shall be the number of days from the relevant Drawdown Date to the First Monthly Repayment Date of the Tranche and denominator of which shall be the number of calendar days in the month of the Drawdown Date. For the avoidance of doubt, the Interim Repayment shall not be applied towards a repayment of the principal amount of the Tranche.

Interim Repayment means the payment in respect of interest accruing during the period from each Drawdown Date to the first Monthly Repayment Date being the amount of interest accruing at the Applicable Interest Rate on the amount drawn down for the period from and including the Drawdown Date to the First Monthly Repayment Date;

Examples of Interim Repayment in a sentence

• On the third Interim Repayment Date, the Borrower shall repay, and there shall become due and payable, the remainder of the aggregate outstanding principal amount of the Loans and all other Obligations due under the Loan Documents.

• The Agent may, upon the consent or request of Supermajority Lenders, extend any of the foregoing payment dates on terms satisfactory to such Lenders (in their sole discretion); provided that any such extension shall not extend the final Interim Repayment Date beyond the Maturity Date.

• Notwithstanding anything to the contrary herein, the Holder shall be prohibited from exercising its right to convert any portion of the Interim Repayment Amount into shares of Common Stock on the applicable Interim Repayment Date to the extent, and only to the extent, that such conversion into shares of Common Stock would result in the Holder hereof exceeding the limitations contained in Section 3(i) above.

• For the avoidance of doubt, the failure of the Agent or the Lenders to give or make any such direction or request, as applicable, on the date that any Interim Repayment was not paid when due shall not waive their respective rights to give such direction at any future time that such amount continues to be unpaid.

• For the avoidance of doubt, the Interim Repayment shall not be applied towards repayment of the principal amount of the Tranche.

• Such shares shall be issued and delivered within three (3) Trading Days following the Interim Repayment Date and shall be duly authorized, validly issued, fully paid, non-assessable and free and clear of all encumbrances, restrictions and legends.

• On the fourth Interim Repayment Date, the Borrower shall repay, and there shall become due and payable, the remainder of the aggregate outstanding principal amount of the Loans and all other Obligations due under the Loan Documents.

• For the avoidance of doubt, the Interim Repayment shall not be applied towards a repayment of the principal amount of the Tranche.

• In order to exercise such interim repayment right, the Holder shall deliver the Company a written notice electing to compel such interim repayment (“Repayment Election Notice”), specifying the dollar amount of the Interim Repayment Amount to be converted into Common Stock and the dollar amount of the Interim Repayment Amount to be repaid in cash.

• Such Repayment Election Notice may be delivered at any time prior to the Interim Repayment Date, provided that the Interim Repayment Amount is not required to be paid until the tenth day after such Repayment Election Notice is delivered if it is delivered after December 21, 2008.

More Definitions of Interim Repayment

Interim Repayment means the payment in respect of the period from each Drawdown Date to the first Business Day of the calendar month following the relevant Drawdown Date calculated by dividing the monthly repayment amount (principal and interest) for that Drawdown by the number of days in the month that the Drawdown is made and multiplying that figure by the number of days between (and including) the Drawdown Date and the first Business Day of the following calendar month.

Interim Repayment means any Preliminary Interim Repayment or the Final Interim Repayment.”

Interim Repayment means an amount equal to the Monthly Repayment amount multiplied by a fraction of which numerator shall be the number of days from the relevant Drawdown Date to the First Monthly Repayment Date of such Tranche and denominator of which shall be the number of calendar days in the month of the Drawdown Date. For the avoidance of doubt, the Interim Repayment shall not be applied towards a repayment of the principal amount of the Tranche.