Excess Interest Amount definition

Excess Interest Amount means, on any date, the amount by which (i) the amount of all interest which would have accrued prior to such date on the principal of this Note, had the applicable Contract Rate at all times been in effect without limitation by the Maximum Rate, exceeds (ii) the aggregate amount of interest accrued on this Note on or prior to such date as limited by the Maximum Rate.

Excess Interest Amount means, on any date, the amount by which (i) the amount of all interest which would have accrued prior to such date on the principal of this Note, had the applicable Contract Rate at all times been in effect without limitation by the Maximum Rate, exceeds (ii) the aggregate amount of interest accrued on this Note on or prior to such date.

Excess Interest Amount. Either the Group I or Group II Excess Interest Amount, as applicable.

Examples of Excess Interest Amount in a sentence

• Notwithstanding any termination or expiration of a Loan Document, the City shall continue to observe the covenants set forth therein for the benefit of the Bank until the termination of this Agreement and the payment of all obligations of the City hereunder including, without limitation, the payment of the principal of and all accrued interest (including Excess Interest Amount) on the Loan.

• If on the date of maturity, redemption or remarketing of any Purchased Bonds, or on the date any Purchased Bonds cease to constitute Purchased Bonds pursuant to Section 2.04(c), there remains any unpaid Excess Interest Amount with respect to such Purchased Bonds or any Overdue Amounts (the “Final Excess Interest Amount”), such Final Excess Interest Amount shall be paid as a fee by the Commission to the Purchased Bondholder on such date (the “Final Excess Interest Fee Amount”).

• The Bank hereby acknowledges that payments of the Excess Interest Amount and the Final Excess Interest Amount and interest thereon is subordinate to the Commission’s obligation to pay principal and interest then due and owing on the Bonds.

• Following any sale of Purchased Bonds pursuant to Section 2.04(b), or any election to retain Bonds pursuant to Section 2.04(c), the Bank and any other Purchased Bondholders shall retain the right to receive payment of any accrued Excess Interest Amount relating to such Purchased Bonds and interest thereon as provided herein and any other amounts then due and owing under this Agreement or the Fee Letter.

• Notwithstanding any termination or expiration of any such Loan Document, the City shall continue to observe the covenants set forth therein for the benefit of the Bank until the termination of this Agreement and the payment of all obligations of the City hereunder including, without limitation, the payment of the principal of and all accrued interest (including Excess Interest Amount) on the Loan.

More Definitions of Excess Interest Amount

Excess Interest Amount means, with respect to any Distribution Date, an amount equal to one-twelfth of the product of (a) (i) the outstanding principal balance of the Class B Certificates as of the preceding Distribution Date (after subtracting therefrom the aggregate amount of distributions of Class B Monthly Principal made to the Class B Certificateholders on or before such preceding Distribution Date) minus (ii) the Class B Invested Amount as of such preceding Distribution Date (after giving effect to any increase or decrease in the Class B Invested Amount on such preceding Distribution Date) and (b) the Class B Certificate Rate; provided, however, that with respect to the first Distribution Date, the Excess Interest Amount shall be zero.

Excess Interest Amount has the meaning set forth in Section 3.04(b) hereof.

Excess Interest Amount has the meaning set forth in Section 3.04 hereof.

Excess Interest Amount means, on any day, the amount by which (a) the amount of all interest which would have accrued prior to such day on the outstanding principal of the Term Notes of the applicable Lender (had the Alternate Base Rate and/or the Adjusted LIBO Rate, as applicable, at all times been in effect without limitation by the Highest Lawful Rate applicable to such Lender) exceeds (b) the aggregate amount of interest actually paid to the Agent for the account of such Lender on its Term Notes on or prior to such day.

Excess Interest Amount has the meaning set forth in Section 2.05 hereof.

Excess Interest Amount. The Group 5 Excess Interest Amount and Group 6 Excess Interest Amount, as applicable.

Excess Interest Amount shall have the meaning attributed to such term in Section 2.14 hereof.