Common use of Payment of Deferred Interest Clause in Contracts

Payment of Deferred Interest. Deferred Interest shall be paid by the Borrower to the Lenders on the earlier of: (a) the first Interest Payment Date on which the Borrower's entitlement to defer payment of interest under clause 3.5 has ceased to the extent that the Borrower then has cash available to pay such Deferred Interest in accordance with the cascade set out in clause 12.3 of the Intercreditor Agreement; (b) the declaration of an Event of Default by the Lenders under clause 17 (Events of Default) at any time after such declaration is permitted by the terms of the Intercreditor Agreement; (c) the Final Repayment Date; (d) prepayment in full of the Facilities; or (e) the date of termination or expiry of the DBFO Contract.