Obligation to Make Interest Rate Contract Payments Clause Samples

The "Obligation to Make Interest Rate Contract Payments" clause requires a party to consistently fulfill its payment duties under an interest rate agreement, such as a swap or other derivative contract. This typically means making scheduled payments based on a fixed or floating interest rate, calculated on a notional principal amount, at agreed intervals throughout the contract's term. By clearly defining the payment responsibilities, this clause ensures both parties understand their financial commitments, reducing the risk of disputes and supporting the smooth operation of the contract.
Obligation to Make Interest Rate Contract Payments. The obligation of the Authority to make fixed rate interest payments under the Interest Rate Contract is a Class I Auxiliary Obligation (and therefore a Class I Obligation) under the Indenture and the obligation of the Authority to make other payments under the Interest Rate Contract is a General Obligation of the Authority and is not secured by the Trust Estate. Regularly scheduled payments under the Interest Rate Contract shall be deemed to be interest for purposes of Section 5.5(d)(i)(C) of the Master Indenture.
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Related to Obligation to Make Interest Rate Contract Payments

  • Obligation to Make Payments Any Interconnection Party's obligation to make payments for services shall not be suspended by Force Majeure.

  • Interest Rate Payments Subject to Holder's right to charge the Default Rate (as hereinafter defined) pursuant to Section 4 hereof, this Note shall bear interest, and Maker shall make payments as follows: (a) Interest shall accrue on the unpaid principal balance of this Note at the Interest Rate (as defined in Exhibit A). For purposes of computing interest on the debt evidenced hereby, interest shall be calculated on the basis of a twelve (12) month calendar year applied to the actual number of months funds are outstanding. Payments (or prepayments) made on account hereof shall be applied first to the payment of late charges or other fees and costs owed to Holder (if any), next to the payment of accrued and unpaid interest, and then to principal, or, during the continuance of an Event of Default (as hereinafter defined), in such other order or proportion as Holder, in its sole discretion, may elect from time to time. (b) Interest and principal over the term of the Note shall be due and payable monthly in accordance with the Payment Schedule set forth in Exhibit F. Maker may at any time or from time to time make a voluntary prepayment, whether in whole or in part, of this Note, without premium or penalty. (c) The entire outstanding Obligations (as hereinafter defined) shall be due and payable in full on the Maturity Date (as defined in Exhibit A) or such earlier date resulting from acceleration by Holder of the Obligations due hereunder following an Event of Default (the “Maturity Date”).

  • Contract Payments Payments cannot be processed by Authorized Users until the Vehicles have been delivered and accepted in accordance with Section III.3

  • Sharing of Reimbursement Obligation Payments Whenever the Agent receives a payment from the Borrower on account of reimbursement obligations in respect of a Letter of Credit or Credit Support as to which the Agent has previously received for the account of the Letter of Credit Issuer thereof payment from a Lender, the Agent shall promptly pay to such Lender such Lender’s Pro Rata Share of such payment from the Borrower. Each such payment shall be made by the Agent on the next Settlement Date.

  • Interest Rates Payments and Calculations (a) Interest Rates. From the Effective Date, all Obligations charged to the Loan Account with respect to the Loans shall, subject to Section 2.5(c)(ii), bear interest payable in cash on the Outstanding Amount at a rate per annum equal to ABR plus the Applicable Margin and shall be payable in accordance with Section 2.5(c).