Deferral of Interest and Principal Sample Clauses

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Deferral of Interest and Principal. (a) Deferral of Payments. Notwithstanding the provisions of Sections 2.06 and 2.07 above, if the Issuer is not in compliance with, or if the payment of interest on any Interest Payment Date or the payment of principal on the Maturity Date would cause the Issuer to fail to satisfy the operational limits required by regulations applicable to Brazilian banks, now existing or hereafter promulgated or enacted by Brazilian banking or monetary authorities (the “Risk-Based Capital Requirements”); the Issuer shall defer such interest or principal payment (and any other amounts payable in respect thereof), as the case may be, pursuant to the terms of CMN Resolution No. 3,444, until the date no later than 14 days after the date the Issuer is no longer in non-compliance with the Risk-Based Capital Requirements and the payment of such amounts, or any portion thereof, would no longer cause the Issuer to be in non-compliance with the Risk-Based Capital Requirements. The deferral of any payment in accordance herewith shall not constitute an Event of Default. Any amount payable in respect of the Notes not paid on an Interest Payment Date or the Maturity Date, as the case may be, as a result of such deferral shall, so long as the same remains outstanding, constitute an “Amount in Arrears”. The Issuer shall, as soon as practicable upon becoming aware that the payment of interest or principal (or any other amount payable in respect thereof) will cause it to fail to satisfy the Risk-Based Capital Requirements as provided herein, and in any event within two Business Days thereof, deliver to the Trustee (with a copy to Moody’s) a certificate, substantially in the form set forth in Exhibit B (a “Notice of Deferral”).
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Deferral of Interest and Principal. (a) Notwithstanding the provisions of Sections 2.6 and 2.7, if on any Interest Payment Date in respect of which interest is due, Unibanco is not in compliance with operational limits, including capital adequacy ratios, established by the Central Bank as in effect from time to time (collectively, the “Operational Limits”) or the payment of interest on any such Interest Payment Date would cause Unibanco to no longer be in compliance with such Operational Limits, no interest shall be payable on the Notes until the date which is five days after the date on which no such conditions exists, but only if such deferral of interest is necessary for the subordinated debt represented by the Notes to qualify as Tier 2 Capital pursuant to Resolution 2837. If on the second Business Day prior to the Expected Maturity Date, the Extended Maturity Date or any Optional Early Redemption Date in respect of which a payment of principal or redemption amount is due, Unibanco is not, or on such maturity date or Optional Early Redemption Date will not be, in compliance with such Operational Limits on such maturity date or Optional Early Redemption Date, such payment will be deferred until the date which is 5 days after the date on which no such condition exists but only if such deferral is necessary for the subordinated debt represented by the Notes to qualify as Tier 2 Capital pursuant to Resolution 2837. The deferral of any payment in accordance with this Section 2.8(a) shall not constitute an Event of Default.
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Related to Deferral of Interest and Principal

  • Payments of Interest and Principal (a) Any installment of interest or principal, if any, payable on any Class A(2016-7) Note which is punctually paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2016-7) Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. (b) The right of the Class A(2016-7) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class A(2016-7) Termination Date.

  • Repayment of Interest and Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Interest and Principal (a) The principal balance of the Loan shall bear interest at the Interest Rate or, as applicable, the Default Rate. Interest shall accrue on the outstanding principal balance of the Loan, from time to time, based on a 360 day year and charged for the actual number of days outstanding. On the Closing Date, Borrower shall make a payment of interest on the outstanding Loan balance for the Initial Interest Period. Commencing on the first Scheduled Payment Date, and on or before each Scheduled Payment Date thereafter, Borrower shall pay all Accrued Interest. In addition to the interest payments required above, Borrower shall make the applicable Minimum Amortization Payment, commencing on the Amortization Commencement Date and on each Scheduled Payment Date thereafter. (b) On the Maturity Date, Borrower shall pay all Indebtedness, including the entire outstanding principal balance of the Loan and all Accrued Interest. (c) Following the occurrence of an Event of Default, interest shall be computed at, and Borrower shall pay interest on the unpaid principal balance of the Loan at, the Default Rate. All other payments, reimbursements and other amounts due from Borrower to Lender under the Loan Documents not paid when due shall bear interest at the Default Rate from the date when due until the date when received by Lender. (d) At any time after the expiration of the Lockout Period (but not prior thereto), upon not less than sixty (60) days prior written notice to Lender, Borrower may prepay the Loan in whole but not in part (except as otherwise expressly permitted by the terms of this Agreement) on any Business Day, provided that upon any such prepayment of the Loan, Borrower shall also pay in full (i) all Accrued Interest; (ii) if such prepayment is received by Lender on a date other than on a Scheduled Payment Date, the Interest Shortfall; (iii) all other Indebtedness; and (iv) if the Loan is prepaid in whole or in part prior to the Scheduled Payment Date in October, 2020 (other than with the proceeds of any Loss Recoveries pursuant to Section 6.1(d) of this Agreement), the applicable Prepayment Fee. Without limiting the aforesaid, upon any payment of the Loan on any day that is not a Scheduled Payment Date (regardless of the source of such prepayment and whether voluntary, by acceleration or otherwise), Borrower shall pay Lender the Breakage Amount. (e) Unless otherwise specified, all other amounts payable to Lender under the Loan Documents shall be due and payable within ten (10) days after written request or invoice. (f) Lender shall have the right from time to time, in its sole discretion, upon not less than ten (10) days prior written notice to Borrower, to change the Scheduled Payment Date to a different calendar day provided such amended Scheduled Payment Date shall not be earlier than the fifth (5th) day of each calendar month and, if requested by Lender, Borrower shall promptly execute an amendment to this Agreement to evidence such change; provided, however, that if Lender shall have elected to change the Scheduled Payment Date as aforesaid, Lender shall have the option, but not the obligation, to adjust the Interest Period and the Determination Date accordingly. All amounts due pursuant to this Agreement and the other Loan Documents shall be payable without setoff, counterclaim, defense or any other deduction whatsoever.

  • Interest and Late Charges If Tenant fails to pay when due any Rent or other amounts or charges which Tenant is obligated to pay under the terms of this Lease, the unpaid amounts shall bear interest at the maximum rate then allowed by law. Tenant acknowledges that the late payment of any Monthly Installment of Base Rent will cause Landlord to lose the use of that money and incur costs and expenses not contemplated under this Lease, including without limitation, administrative and collection costs and processing and accounting expenses, the exact amount of which is extremely difficult to ascertain. Therefore, in addition to interest, if any such installment is not received by Landlord within ten (10) days from the date it is due, Tenant shall pay Landlord a late charge equal to ten percent (10%) of such installment. Landlord and Tenant agree that this late charge represents a reasonable estimate of such costs and expenses and is fair compensation to Landlord for the loss suffered from such nonpayment by Tenant. Acceptance of any interest or late charge shall not constitute a waiver of Tenant's default with respect to such nonpayment by Tenant nor prevent Landlord from exercising any other rights or remedies available to Landlord under this Lease.

  • Interest and Principal Payments Holders shall be entitled to receive, and Borrower shall pay, simple interest on the outstanding principal amount of this Note at the annual rate of eight percent (8%) (as subject to increase as set forth in this Note) from the Original Issue Date through the Maturity Date. Principal and interest shall be due and payable on the Maturity Date.