Periodic Interest definition

Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.
Periodic Interest has the meaning set forth in Section 3(d) of this Supplement.
Periodic Interest will be payable on each Tranche of the Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Securitization Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.

Examples of Periodic Interest in a sentence

  • We figure the Periodic Interest Charge on Cash Advances by applying the periodic rate to the “average daily balance” of your Cash Advances Account (including current transactions).

  • Calculating the Balances to which the Periodic Interest Rates Are Applied: We calculate an “average daily balance” separately for Purchases (including Balance Transfer, but excluding any introductory period Balance Transfers), Cash Advances, any introductory period Balance Transfers then in effect, and any special rate offers then in effect.

  • We figure the Periodic Interest Charge on your Account by applying the Periodic Rate to the “Average Daily Balance” of the account including current purchases and cash advances for your Account.

  • We figure the Periodic Interest Charge on Purchases by applying the periodic rate to the “average daily balance” of your Purchases Account (including current transactions).

  • The Credit Union figures the Periodic Interest Charge on your Account by applying the Periodic Rate to the “Average Daily Balance” of purchases and cash advances for your Account.


More Definitions of Periodic Interest

Periodic Interest means the Periodic Interest Amount on each Class of Secured Notes, plus any Defaulted Interest which has not been paid on any previous Payment Dates, payable on each Payment Date or Accelerated Distribution Date, as applicable.
Periodic Interest will be payable on each tranche of the Series 2022-A Storm Recovery Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Bond Interest Rate and (ii) the Outstanding Amount of the related tranche of Series 2022-A Storm Recovery Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related tranche of Series 2022-A Storm Recovery Bonds on such preceding Payment Date; provided, however, that, with respect to the initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.
Periodic Interest will be payable on each tranche of the Series 2023-A Securitization Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Bond Interest Rate and (ii) the Outstanding Amount of the related tranche of Series 2023-A Securitization Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related tranche of Series 2023-A Securitization Bonds on such preceding Payment Date; provided, however, that, with respect to the initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.
Periodic Interest means Interest accrued for the relevant Interest Period.
Periodic Interest will be payable on each Tranche of the Series A Energy Transition Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Bond Interest Rate and (ii) the Outstanding Amount of the related Tranche of Series A Energy Transition Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the related Tranche of Series A Energy Transition Bonds on such preceding Payment Date; provided, however, that, with respect to the initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Series Closing Date to, but excluding, the following Payment Date.
Periodic Interest will be payable on {each tranche of} the Series {__} Storm Recovery Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Bond Interest Rate and (ii) the Outstanding Amount of the {related tranche of} Series {__} Storm Recovery Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the {related tranche of} Series {__} Storm Recovery Bonds on such preceding Payment Date; provided, however, that, with respect to the initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.
Periodic Interest will be payable on [each Tranche of]6 the Environmental Trust Bonds on each Payment Date in an amount equal to one-half of the product of (i) the applicable Environmental Trust Bond Interest Rate and (ii) the Outstanding Amount of the [related Tranche of]6 Environmental Trust Bonds as of the close of business on the preceding Payment Date after giving effect to all payments of principal made to the Holders of the [related Tranche of]6 Environmental Trust Bonds on such preceding Payment Date; provided, however, that, with respect to the Initial Payment Date, or if no payment has yet been made, interest on the outstanding principal balance will accrue from and including the Closing Date to, but excluding, the following Payment Date.