Common use of Capitalized Interest Clause in Contracts

Capitalized Interest. Except as otherwise provided in this Section 2.07(d), and subject to satisfaction of the applicable conditions to Loans set forth in Section 4.04, any interest due on Tranche A Loans prior to the Conversion Date shall be capitalized on the date such interest is due and payable by entry on the books of AEF of such amount as a Tranche A Loan to the Customer. Any such interest so capitalized shall constitute a Tranche A Loan to the Customer for such amount made on the date on which such interest shall have been otherwise due and payable. Pursuant to a written notice delivered to AEF not later than thirty (30) days prior to the date that any interest shall become due and payable, the Customer may elect to terminate the capitalization of interest under this Section 2.07(d), in which case no such capitalization of interest shall occur from and after the first day of the next succeeding Interest Period.