Accretion and Interest Clause Samples

Accretion and Interest. Pursuant to Section 3.10 of the Indenture, commencing on the Issue Date to, but not including, October 1, 2017, principal shall accrete on the principal amount of this Note, compounded semi-annually, at a rate equal to 2.00% per annum. The Accreted Principal Amount per $1,000 Original Principal Amount is set forth on Annex I attached hereto. The Company, promises to pay interest on the Original Principal Amount of this Note at the rate of 5.00% per annum until (but excluding) October 1, 2032. The Company will pay interest on the Original Principal Amount of Notes semiannually in arrears on April 1 and October 1 of each year (each, an “Interest Payment Date”), commencing April 1, 2014, to Holders of record on the immediately preceding March 15 and September 15. Interest will not accrue on any principal accreted to the Original Principal Amount of the Notes pursuant to Section 3.10 of the Third Supplemental Indenture. Interest on the Original Principal Amount of Notes will accrue from the most recent date to which interest has been paid on the Notes or, if no interest has been paid, from August 26, 2013. Interest will be computed on the basis of a 360-day year of twelve 30-day months.
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Accretion and Interest. Pursuant to Section 2.14 of the Indenture, principal shall accrete on the principal amount of this Security (including the Original Principal Amount) at a rate equal to 3.9755% per annum (compounded semi-annually). The Accreted Principal Amount per $1,000 Original Principal Amount is set forth on Annex I attached hereto. The Securities shall bear interest on the Original Principal Amount thereof at a rate of 3.75% per year (“Interest”). The Company shall pay Interest as set forth in the Indenture. Interest shall be payable in cash semi-annually in arrears on each Interest Payment Date in respect of the Original Principal Amount to Holders at the close of business on the preceding Interest Record Date. Interest shall be computed on the basis of a 360-day year comprised of twelve 30 day months. The Company shall pay Interest in respect of the Original Principal Amount to the Securityholder of record on the Interest Record Date even if the Company elects to redeem, or Securityholders elect to require the Company to repurchase, the Securities on a date that is after an Interest Record Date but on or prior to the corresponding Interest Payment Date. In that instance, the Company shall pay accrued and unpaid Interest on the Securities in respect of the Original Principal Amount being redeemed to, but not including, the Redemption Date, the Repurchase Date or the Fundamental Change Repurchase Date, as the case may be, in cash to the Securityholder of record on the Interest Record Date. If the Accreted Principal Amount of any Security, or any accrued and unpaid Interest, are not paid when due (whether upon acceleration pursuant to Section 6.02 of the Indenture, upon the date set for payment of the Redemption Price pursuant to Section 5 hereof, upon the date set for payment of the Repurchase Price or Fundamental Change Repurchase Price pursuant to Section 6 hereof, upon the Stated Maturity of the Securities or upon the Interest Payment Dates), then in each such case the overdue amount shall, to the extent permitted by law, bear cash interest at the rate of 3.75% per annum, compounded semi-annually, which interest shall accrue from the date such overdue amount was originally due to the date payment of such amount, including interest thereon, has been made or duly provided for. All such interest shall be payable in cash on demand but if not so demanded shall be paid quarterly to the Holders on the last day of each quarter.
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Accretion and Interest. (a) The initial Accreted Value of the Notes will increase on a daily basis commencing on the Funding Date at the rate of 6% per annum (based on a 360-day year of twelve 30-day months) compounded quarterly on each Accretion Calculation Date until the Maturity Date. (b) Payment of the principal of or premium, if any, on the Notes prior to the Maturity Date (whether pursuant to Section 2.4(i), 5.1 or 5.2, by acceleration or otherwise) will be at the Accreted Value of the Notes or portion thereof, being repaid as of the date of repayment. (c) Overdue principal on the Notes shall bear interest from the date so due to the date paid at a rate per annum (based on a 360-day year of twelve 30-day months) equal to the sum of (i) 3% plus, (ii) after the Maturity Date, 6%. Any such interest shall be immediately due and payable in cash upon demand by the Holder entitled thereto.
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Related to Accretion and Interest

  • Payments and Interest Payments required of PURCHASER by this contract or modifications of this contract, other than those in Sections 13 and 42, shall be received by STATE within the time period stated on the instrument requesting payment from PURCHASER. Payments received after the due date stated on the billing instrument may be subject to an interest charge. The interest rate applied to overdue payments shall be the prime interest rate in effect on the day the payment became delinquent, as established by U.S. Bank, ▇▇▇▇ and ▇▇▇▇ Branch, plus 4 percent. Interest shall be calculated from the date of the original billing to the date payment is received by the State Forester.

  • Payment and Interest The amount determined payable pursuant to the decision, less any portion already paid, normally should be paid without awaiting Contractor action concerning appeal. Such payments shall be without prejudice to the rights of either party. Interest on amounts ultimately determined to be due to a Contractor shall be payable at the Statutory rate applicable to judgments against the State under Chapter 662, HRS from the date of receipt of a properly certified final written statement of actual adjustment required until the date of decision; except, however, that if an action is initiated in circuit court, interest under this Section 7.25, DISPUTES AND CLAIMS (§3-126-31 HAR) shall only be calculated until the time such action is initiated. Interest on amounts due the Department from the Contractor shall be payable at the same rate from the date of issuance of the Project Manager’s notice to the Contractor. Where such payments are required to be returned by a subsequent decision, interest on such payments shall be paid at the statutory rate from the date of payment.

  • Payments of Principal and Interest (a) The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes shall accrue interest during each Interest Period at the Class A-1 Rate, the Class A-2 Rate, the Class A-3 Rate, the Class A-4 Rate and the Class B Rate, respectively, and such interest shall be payable on each related Payment Date as specified in such Notes, pursuant to Section 5.06 of the Sale and Servicing Agreement and Section 3.01 hereof. Any installment of interest or principal payable on any Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by wire transfer in immediately available funds to the account designated by such Person. (b) The principal of each Note shall be payable in installments on each Payment Date pursuant to Section 5.06 of the Sale and Servicing Agreement and subject to the availability of funds therefor. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of such Class entitled thereto. In accordance with Section 10.01, the Indenture Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Payment Date on which the final installment of principal of and interest on such Note will be paid. Such notice shall be mailed or transmitted by facsimile not less than 15 nor more than 30 days prior to such final Payment Date, shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where such Note may be presented and surrendered for payment of such installment. (c) In the event that any withholding tax is imposed on the Trust’s payment (or allocations of income) to the Noteholders, such tax shall reduce the amount otherwise distributable to the Noteholders in accordance with this Section. The Issuer will instruct the Indenture Trustee regarding the imposition of such withholding tax and, upon receiving such instruction, the Indenture Trustee is hereby authorized and directed to retain from amounts otherwise distributable to the Noteholders sufficient funds for the payment of any tax that is legally owed by the Trust (but such authorization shall not prevent the Indenture Trustee from contesting any such tax in appropriate proceedings, and withholding payment of such tax, if permitted by law, pending the outcome of such proceedings). The amount of any withholding tax imposed with respect to the Noteholders shall be treated as cash distributed to the Noteholders at the time it is withheld by the Trust and remitted to the appropriate taxing authority. If there is a possibility that withholding tax is payable with respect to any distribution (such as any distribution to a Non-U.S. Person), the Indenture Trustee may in its sole discretion withhold such amounts in accordance with this paragraph (c). In the event that any Noteholder wishes to apply for a refund of any such withholding tax, the Indenture Trustee shall reasonably cooperate with the Noteholder in making such claim so long as the Noteholder agrees to reimburse the Indenture Trustee for any out-of-pocket expenses incurred.

  • Late Charge and Interest Tenant acknowledges that late payment by Tenant of any Rent will cause Landlord to incur administrative costs not contemplated by this Lease, the exact amount of which is extremely difficult and impracticable to ascertain based on the facts and circumstances pertaining as of the Lease Date. Accordingly, if any Rent is not paid by Tenant, within five (5) days after Tenant's receipt of written notice from Landlord that such amount is past-due, then Tenant shall pay to Landlord a late charge equal to five percent (5%) of such Rent; provided that, if Tenant has previously received one (1) or more written notices from Landlord during the immediately preceding twelve (12) month-period stating that Tenant failed to pay any Rent required to be paid by Tenant under this Lease when due, then Landlord shall not be required to deliver any further written notice to Tenant in such twelve (12) month period. Any Rent, other than late charges, due Landlord under this Lease, if not paid when due, shall also bear interest at the Interest Rate from the date due until paid. The parties acknowledge that such late charge and interest represent a fair and reasonable estimate of the administrative costs and loss of use of funds Landlord will incur by reason of a late Rent payment by Tenant, but Landlord's acceptance of such late charge and/or interest shall not constitute a waiver of an Event of Default with respect to such Rent or prevent Landlord from exercising any other rights and remedies provided under this Lease.

  • Interest and Interest Rates The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the interest payment dates on which any such interest shall be payable and the regular record date for any interest payable on any interest payment date, in each case, shall be as set forth in the form of Note set forth as Exhibit A hereto.