Examples of Unpaid Amount in a sentence
Default Interest Period means, for an Unpaid Amount, a period of one month (or any other period the relevant Noteholder selects) beginning on the day on which the amount falls due, or on the last day of another Default Interest Period for that amount.
A Defaulting Lender shall immediately pay to a Special Advance Lender all sums of any kind paid to or received by the Defaulting Lender from Borrowers, whether pursuant to the terms of this Agreement or the other Loan Documents or in connection with the realization of the security therefor until the Unpaid Amount is fully repaid.
The Defaulting Lender shall have the right to repurchase the senior participation in its interest in the Loan from the Special Advance Lender, pro rata if there is more than one Special Advance Lender, at any time by the payment of the Unpaid Amount.
Interest on an Unpaid Amount accrues each day in a Default Interest Period at the Default Interest Rate, and is capitalised (if not paid) on the last day of that Default Interest Period.
Notwithstanding the fact that the Defaulting Lender may temporarily hold such sums, the Defaulting Lender shall be deemed to hold same as a trustee for the benefit of the Special Advance Lender, it being the express intention of the Lenders that the Special Advance Lender shall have an ownership interest in such sums to the extent of the Unpaid Amount.