Unpaid Interest means, on any Distribution Date with respect to any Class of Interests or Certificates (other than the Residual Certificates), the portion of Distributable Certificate Interest for such Class remaining unpaid as of the close of business on the preceding Distribution Date, plus one month's interest thereon at the applicable Pass-Through Rate.
Unpaid Interest means: (a) with respect to any REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest for any Distribution Date subsequent to the initial Distribution Date, the portion of Distributable Interest for such REMIC I Regular Interest, REMIC II Regular Interest or Class X REMIC III Regular Interest, as the case may be, remaining unpaid as the close of business on the preceding Distribution Date; and (b) with respect to any Class of REMIC III Regular Certificates or EX XXXXX III Regular Interest, the portion of Distributable Certificate Interest for such Class or EX XXXXX III Regular Interest remaining unpaid as of the close of business on the preceding Distribution Date. For avoidance of doubt, “Unpaid Interest” shall not include any reductions in Distributable Certificate Interest in respect of the Class B REMIC III Regular Interest, the Class C REMIC III Regular Interest and any Class of the Class D and Class E Certificates as a result of the allocation of Trust Advisor Expenses, except to the extent that there are Actual Recoveries of Trust Advisor Expenses allocated to such Class pursuant to Section 6.11(c) in respect of such reductions in Distributable Certificate Interest.
Unpaid Interest shall not include any reductions in Distributable Certificate Interest in respect of the Class B REMIC III Regular Interest, the Class C REMIC III Regular Interest and any Class of the Class D and Class E Certificates as a result of the allocation of Trust Advisor Expenses, except to the extent that there are Actual Recoveries of Trust Advisor Expenses allocated to such Class pursuant to Section 6.11(c) in respect of such reductions in Distributable Certificate Interest.
Examples of Unpaid Interest in a sentence
If this occurs, the Issuer may not have enough assets remaining after these payments to pay amounts due under the Subordinated Notes.The shareholders of the Issuer may, pursuant to Condition 10 (Reduction of Amounts of Principal and Unpaid Interest), reduce and cancel part or all of the Outstanding Principal Amount and any Arrears of Interest of the Subordinated Notes provided that the requirements set out in Condition 10 (Reduction of Amounts of Principal and Unpaid Interest) are met.
No interest penalty shall be assessed on payments made in full on or before the thirtieth (30th) day from the date payments are due.(c) Unpaid Interest.
The Trustee must, in accordance with the Series Supplement, on each Fixed Interest Payment Date apply any amount available under the Series Supplement in the order contemplated by the Series Supplement, towards the Class A3 Unpaid Interest Amount in relation to the Interest Period ending on that Fixed Interest Payment Date.
Any Arrears of Interest (together with all corresponding Additional Interest Amounts but excluding any interest that has been cancelled prior to 1 January 2016 pursuant to Condition 7 (Reduction or Cancellation of Principal and Unpaid Interest)) may be paid by the Issuer, in whole or in part, at any time at its discretion, provided that, if a Mandatory Deferral Event has occurred and is continuing on the relevant payment date, the Interest Payment Deferral Waiver Conditions have been fulfilled.
Accrued Interest will be calculated on a daily basis and, in respect of Unpaid Interest, compound on each Interest Payment Date.
More Definitions of Unpaid Interest
Unpaid Interest means, in relation to any Non-Cash Re-Draw of any Flexible Mortgage Loan, the interest which would, but for such Non-Cash Re-Draw, have been payable in respect of that Mortgage Loan on the relevant Monthly Payment Date for such Mortgage Loan;
Unpaid Interest means, in respect of an Interest Period: (a) if Memory Effect applies, the sum of, in respect of each prior Interest Period for which an Interest Barrier Event did not occur, subject as provided below (a "Relevant Period") Interest Amounts that would have been payable in respect of each principal amount of Notes equal to the Calculation Amount and each such Relevant Period if an Interest Barrier Event had occurred in respect of each such Relevant Period provided that there shall be excluded from the definition of Relevant Period any Interest Period already accounted for in relation to any previous Interest Period under this definition of Unpaid Interest; or(b) if Memory Effect does not apply, zero.
Unpaid Interest has the meaning specified in Section 307.
Unpaid Interest means, on any Distribution Date with respect to any Class of Interests (including the Class A-MFL Regular Interest) or Certificates (excluding the Residual Certificates, the Class A-MFL Certificates and the Class EI Certificates), the portion of Distributable Certificate Interest for such Class remaining unpaid as of the close of business on the preceding Distribution Date, plus one month's interest thereon at the applicable Pass-Through Rate.
Unpaid Interest. Any accrued interest not paid when due (whether due by reason of a schedule of payments or due because of Lendxx'x xemand) will become part of the principal thereafter, and will bear interest at the interest rate in effect from time to time as provided for in this agreement.
Unpaid Interest. With respect to a Class and an Interest Payment Date, the excess of the Accrued Bond Interest for such Class on such Interest Payment Date over the amount actually paid in respect of interest on such Class on such Interest Payment Date.
Unpaid Interest means, in respect of an Interest Period: (a) if Memory Effect applies, the sum of, in respect of each prior Interest Period for which an Interest Barrier Event did not occur, subject as provided below (a "Relevant Period") Interest Amounts that would have been payable in respect of each principal amount of Notes equal to the Calculation Amount and each such Relevant Period if an Interest Barrier Event had occurred in respect of each such Relevant Period provided that there shall be excluded from the definition of Relevant Period any Interest Period already accounted for in relation to any previous Interest Period under this definition of Unpaid Interest; or (b) if Memory Effect does not apply, zero."Valuation Date(s)" means 5 Exchange Business Days prior to each Automatic Early Redemption Date .The Notes are intended to provide a return in the form of conditional interest payments and either a cash or physical delivery amount at maturity. The timing and amount of these payments will depend on the performance of a basket of shares.If the performance of each share is equal to or greater than a specified interest barrier level of 70 % on the relevant valuation date preceding an interest payment date then interest will be payable on that interest paymentdate at a rate of 9.00 per cent per annum but not otherwise. The amount of interest will be calculated by reference to the relevant interest period that ended and any previous interest periods for which interest has not been paid.On each specified automatic early redemption valuation date if the performance of each share is greater than a specified automatic early redemption level of 100 % then the Notes will early redeem on the next automatic early redemption date at the specified automatic early redemption amount of EUR 1,000 per Note. If no such automatic early redemption event has occurred then at scheduled maturity the Notes will be redeemed by (a) payment of the calculation amount of EUR 1,000 for each Note or if the performance of any share on the specified final valuation date is less than its relevant Barrier Level of 70 % then (b) physical delivery of the worst performing share in the basket. The number of the worst performing shares deliverable in this case will be determined by dividing the calculation amount of EUR 1,000 for a Note (converted into the relevant quotation currency of the worst performing shares) by the strike price of 100 % multiplied by the initial share price for that worst perform...