Mandatory Interest Payment definition

Mandatory Interest Payment means the amount of interest due on any Mandatory Interest Payment Date, as calculated in accordance with Condition 4.4.1.

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Mandatory Interest Payment means a payment of interest which is not a Compulsory Cancellation Interest Payment and:

Mandatory Interest Payment means the satisfaction of Interest Payments following a Mandatory Payment Event pursuant to Section 2.05(b) or following a Mandatory Partial Payment Event pursuant to Section 2.05(c).

Examples of Mandatory Interest Payment in a sentence

• Interest shall be due and payable on each Interest Payment Date unless the Company elects not to pay such interest on such Interest Payment Date (which the Company may elect to do on any Interest Payment Date unless such Interest Payment Date is a Mandatory Interest Payment Date).

• The Company agrees that if Payments stated to be payable on any date have not been made on the Company’s preference shares or any other Parity Securities, then it will defer Payments on the ING Perpetual Hybrid Capital Securities payable on such date, unless a Mandatory Interest Payment is due.

• Subject to the Company being Solvent, the Company agrees that it will not defer any Payment on the ING Perpetual Hybrid Capital Securities on the Interest Payment Date falling on a Mandatory Interest Payment Date.

• Any outstanding Optionally Outstanding Payments shall become due and payable (in whole but not in part) on any Mandatory Interest Payment Date.

• Subject to satisfaction of the Solvency Conditions, the Company agrees that it will not defer any Payment on the 6.20% ING Perpetual Debt Securities on the Interest Payment Date falling on a Mandatory Interest Payment Date.

• The Company agrees that if Payments stated to be payable on any date have not been made on the Company's preference shares or any other Parity Securities, then it will defer Payments on the ING Perpetual Debt Securities payable on such date, unless a Mandatory Interest Payment is due.

• The Company agrees that if Payments stated to be payable on any date have not been made on the Company's preference shares or any other Parity Securities, then it will defer Payments on the 6.125% ING Perpetual Debt Securities payable on such date, unless a Mandatory Interest Payment is due.

• Subject to satisfaction of the Solvency Conditions, the Company agrees that it will not defer any Payment on the 7.20% ING Perpetual Debt Securities on the Interest Payment Date falling on a Mandatory Interest Payment Date.

• Subject to satisfaction of the Solvency Conditions, the Company agrees that it will not defer any Payment on the 6.125% ING Perpetual Debt Securities on the Interest Payment Date falling on a Mandatory Interest Payment Date.

• The Company agrees that if Payments stated to be payable on any date have not been made on the Company’s preference shares or any other Parity Securities, then it will defer Payments on the 5.775% Fixed/Floating ING Perpetual Debt Securities payable on such date, unless a Mandatory Interest Payment is due.

More Definitions of Mandatory Interest Payment

Mandatory Interest Payment means a payment of interest (to the extent it is not a Compulsory Cancellation Interest Payment (as defined below)):

Mandatory Interest Payment means, as specified in the Final Terms, a payment of interest (to the extent it is not a Compulsory Cancellation Interest Payment as defined below) where either sub-paragraphs (i) and (ii) or only sub-paragraph (ii) below shall be applicable to this Condition 4(9) for the purposes of determining the required accounting treatment:

Mandatory Interest Payment shall have the meaning set forth in Section 2.3(c) hereof.