Redirected Interest Payment definition
Redirected Interest Payment means, so long as the Initial Lender Exposure is greater than zero, an amount equal to the Applicable Percentage of any interest payment made on a Later Note (including any such payments that result from a creditors’ rights proceeding and including payments made through realization of collateral, setoff or otherwise), other than (i) with respect to such Later Note, interest payments to the extent attributable to accrued and unpaid interest as of the Effective Date (as defined in the Assignment and Acceptance relating to such Later Note), (ii) accrued interest on any Redirected Principal Payment and (iii) for the avoidance of doubt, the portion of interest payments in excess of the Applicable Percentage of such interest payments.