Cessation of Accrual of Interest Clause Samples

The 'Cessation of Accrual of Interest' clause defines the point at which interest on an outstanding amount stops accumulating. Typically, this occurs when the principal is fully repaid, the debt is discharged, or upon the occurrence of a specific event such as default or settlement. For example, if a borrower pays off a loan in full, no further interest will accrue from that date forward. This clause ensures clarity for both parties regarding when interest obligations end, preventing disputes over additional interest charges after the agreed-upon cessation event.
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Cessation of Accrual of Interest. Except as provided in Sections 4.02(D), 4.03(E) or 5.02(D), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.18, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other property due on such Note.
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Cessation of Accrual of Interest. Notwithstanding anything to the contrary contained in the terms of the Securities, no interest shall accrue on the Securities (i) during the period when the Current Principal Amount of the Securities is one cent per $1,000 in Original Principal Amount, (ii) after the date fixed for redemption, or (iii) during any period where a Liquidation Event occurs and continues.
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Cessation of Accrual of Interest. Notwithstanding anything to the contrary contained in the terms of the Securities, no interest shall accrue on the Securities (i) after the date fixed for redemption, or (ii) during any period where a Liquidation Event occurs and continues.
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Cessation of Accrual of Interest. Interest will cease to accrue on the Note (or portion thereof) to, but not including, the date that the Note (or portion thereof) is deemed, pursuant to this Section 2, to cease to be outstanding, unless there occurs a default in the payment on the Note (or such portion thereof).
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Cessation of Accrual of Interest. Except as provided in Section 4.02(D), 4.03(E)
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Cessation of Accrual of Interest. Except as provided in the proviso to Section 9.01(b), in the proviso to the definition of Redemption Price or in Section 8.02(i), interest will cease to accrue on each Note from, and including, the date that such Note is deemed, pursuant to this Section 2.08, to cease to be outstanding, unless there occurs a default in the payment or delivery of any cash or other property due on such Note.
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Related to Cessation of Accrual of Interest

  • Accrual of Interest Each Note will accrue interest at a rate per annum equal to 0.25% (the “Stated Interest”), plus any Additional Interest and Special Interest that may accrue pursuant to Sections 3.04 and 7.03, respectively. Stated Interest on each Note will (i) accrue from, and including, the most recent date to which Stated Interest has been paid or duly provided for (or, if no Stated Interest has theretofore been paid or duly provided for, the date set forth in the certificate representing such Note as the date from, and including, which Stated Interest will begin to accrue in such circumstance) to, but excluding, the date of payment of such Stated Interest; and (ii) be, subject to Sections 4.02(D), 4.03(E) and 5.02(D) (but without duplication of any payment of interest), payable semi-annually in arrears on each Interest Payment Date, beginning on the first Interest Payment Date set forth in the certificate representing such Note, to the Holder of such Note as of the Close of Business on the immediately preceding Regular Record Date. Stated Interest, and, if applicable, Additional Interest and Special Interest, on the Notes will be computed on the basis of a 360-day year comprised of twelve 30-day months.