Examples of Quarterly Interest Payment in a sentence
No later than one (1) Business Day prior to a Quarterly Interest Payment Date, Party B, or the Master Issuer Cash Manager acting on its behalf, will notify Party A of the amount of (a) any principal payments to be made on the Relevant Notes on such Quarterly Interest Payment Date and (b) any interest payments otherwise due to be made on such Quarterly Interest Payment Date that will be deferred in accordance with the terms and conditions of the Relevant Notes.
If any payment of interest under the Relevant Notes is deferred in accordance with the terms and conditions of the Relevant Notes, a corresponding part as determined by the Calculation Agent of the Party A Floating Amount and a pro rata part as determined by the Calculation Agent of the Party B Floating Amount which, in each case, would otherwise be due in respect of the relevant Quarterly Interest Payment Date will be deferred.
The Calculation Agent will calculate the Floating Rate with respect to each Floating Rate Period and the amount of Interest payable on each Quarterly Interest Payment Date as promptly as practicable according to the appropriate method described herein.
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If any payment of interest under the Series 2 Class C Seventh Issuer Notes is deferred in accordance with the terms and conditions of the Series 2 Class C Seventh Issuer Notes, a corresponding part as determined by the Calculation Agent of the Party A Floating Amount and a pro rata part as determined by the Calculation Agent of the Party B Floating Amount which, in each case, would otherwise be due in respect of the relevant Quarterly Interest Payment Date will be deferred.
Promptly upon such determination, the Calculation Agent shall notify the Issuer and the Trustee of the Non-Call 5 Notes Floating Rate for the Non-Call 5 Notes Floating Rate Period and the amount of interest (per $1,000 principal amount of the Non-Call 5 Notes) payable to each Holder on each Non-Call 5 Notes Quarterly Interest Payment Date.
If any Quarterly Interest Payment Date is not a Business Day, the Quarterly Interest Payment Date shall be postponed to the following Business Day unless such Business Day would fall in the next calendar month, in which case the Quarterly Interest Payment Date shall be the preceding Business Day.
Any conversion of interest due and owing under this Note pursuant to Section 6(a) in excess of any amount required to be paid on the next Interest Payment Date shall be credited and applied against the next Quarterly Interest Payment or such other specified Quarterly Interest Payment, in each case, as designated by the Holder.
The Calculation Agent will calculate the Floating Rate with respect to each Floating Rate Quarterly Interest Period and the amount of Interest payable on each Floating Rate Quarterly Interest Payment Date as promptly as practicable according to the appropriate method described herein.
If any payment of interest under the Series 1 Class B Seventh Issuer Notes is deferred in accordance with the terms and conditions of the Series 1 Class B Seventh Issuer Notes, a corresponding part as determined by the Calculation Agent of the Party A Floating Amount and a pro rata part as determined by the Calculation Agent of the Party B Floating Amount which, in each case, would otherwise be due in respect of the relevant Quarterly Interest Payment Date will be deferred.