Common use of Capitalized Interest Clause in Contracts

Capitalized Interest. Interest on the Principal Amount of each Advance shall be capitalized (that is, the Principal Amount of each Advance shall be increased by the amount of such accrued interest thereon, and such increased Principal Amount shall continue to accrue interest in accordance with Section 2(f)) on each Interest Payment Date and on the date on which the Borrowers repay the SP Facility in full (or such earlier date as such amounts may become due in accordance with the provisions hereof), calculated and compounded quarterly not in advance, computed from the Funding Date for such Advance or the last Interest Payment Date to the next Interest Payment Date or the date on which the Borrowers repay the SP Facility in full (or such earlier date), as applicable, on the basis of the actual number of days elapsed.