Rate of Interest and Interest Payment Dates Sample Clauses

The 'Rate of Interest and Interest Payment Dates' clause defines the specific interest rate applicable to a financial obligation and sets out the schedule on which interest payments must be made. Typically, this clause will state the percentage rate, whether it is fixed or variable, and detail the frequency of payments, such as monthly, quarterly, or annually. By clearly outlining both the rate and the timing of payments, this clause ensures predictability for both parties and helps prevent disputes over payment amounts or due dates.
Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their principal amount at the rate of (i) 3.250% per annum from (and including) August 5, 2020 (the “Interest Commencement Date”) to the Transaction Effective Date, (ii) 6.000% from the Transaction Effective Date to (but excluding) July 31, 2025, calculated as set forth below (the “PIK Interest”) and (iii) 3.250% from July 31, 2025 to (but excluding) the Maturity Date. […] All PIK Interest and any cash interest accrued from the Interest Payment Date immediately preceding the Transaction Effective Date to the Transaction Effective Date (the “Pre-Transaction Cash Interest”) shall be paid on July 31, 2025 and not on any regularly scheduled Interest Payment Date and, for the avoidance of doubt, no cash payments will need to be made by the Issuer for any PIK Interest or Pre-Transaction Cash Interest prior to July 31, 2025; provided that if the Notes are redeemed in whole or in part prior to such date
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Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their principal amount at the rate of o per cent. per annum from (and including) o to (but excluding) the Maturity Date (as defined in ss. 5). Interest shall be payable [semi-]annually in arrears on o [and on o] in each year (each such date, an "Interest Payment Date"). The first payment of interest shall be made on o.
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Rate of Interest and Interest Payment Dates. The Notes bear interest from (and including) the Issue Date at the rate of 5.297 per cent. per annum (the “Rate of Interest”), payable in arrear on each Interest Payment Date, subject as provided in Condition 8 (Payments). The first payment will be made on 28 September 2024.
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Rate of Interest and Interest Payment Dates. This N Covered Bond bears interest on its Principal Amount Outstanding for each Fixed Interest Period from (and including) [insert issue date as a calendar date or other date as required] (the Interest Commencement Date) at the rate per annum equal to [insert rate of interest] per cent (the Rate of Interest) payable annually, subject as provided in these N Covered Bond Conditions, in arrear on the [insert Interest Payment Date] from and including [insert first Interest Payment Date] (each such date an Interest Payment Date) in each year up to (and including) the Final Maturity Date (as defined in Condition 4.1 (Final Redemption) of these N Covered Bond Conditions).
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Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their then outstanding principal amount at the rate of [insert interest rate] per cent. per annum (the "Fixed Interest Rate") from and including [insert Issue Date] (the "Issue Date") to but excluding the Maturity Date (as defined in §4(1)). Interest shall be payable [annually][semi-annually] in arrears on [insert Fixed Interest Payment Date] of each year (each such date, an "Fixed Interest Payment Date"). The first payment of interest shall be made on [insert First Fixed Interest Payment Date] (the "First Fixed Interest Payment Date").
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Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their then outstanding principal amount at the Floating Interest Rate calculated by the Calculation Agent from and including [insert Issue Date] (the "Issue Date"). Interest will be payable [annually][semi-annually][quarterly] in arrears on each Floating Interest Payment Date, the first such payment to be made on [insert First Floating Interest Payment Date] (the "First Floating Interest Payment Date").
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Rate of Interest and Interest Payment Dates. The Loan shall bear interest on its outstanding nominal amount at the rate of [insert rate of interest] per cent. per annum (the Rate of Interest) from, and including, [insert Interest Commencement Date] (the Interest Commencement Date) to, but excluding, the Maturity Date. Interest shall be payable [semi-annually] [annually]] in arrear on [insert Interest Payment Date(s)] in each year each such date, an Interest Payment Date). The first payment of interest shall be made on [insert first Interest Payment Date] and the last payment of interest shall be made on [insert last Interest Payment Date].] On each Interest Payment Date interest in the amount of [insert amount of interest] will be paid on the Loan Amount. Interest Payment Dates are subject to adjustment in accordance with the provisions set out in Clause 8.4.
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Rate of Interest and Interest Payment Dates. Each Reset Note bears interest: (i) from (and including) the Interest Commencement Date specified in the relevant Final Terms until (but excluding) the First Reset Date at the rate per annum equal to the Initial Rate of Interest; (ii) from (and including) the First Reset Date until (but excluding) the first Subsequent Reset Date or, if no Subsequent Reset Date is specified in the relevant Final Terms, the Maturity Date at the rate per annum equal to the First Reset Rate of Interest; and (iii) for each Subsequent Reset Period thereafter (if any), at the rate per annum equal to the relevant Subsequent Reset Rate of Interest, payable, in each case, in arrear on the date(s) so specified in the relevant Final Terms on which interest is payable in each year (each an "Interest Payment Date") and on the Maturity Date if that does not fall on an Interest Payment Date. The Rate of Interest and the amount of interest (the "Interest Amount") payable shall be determined by the Calculation Agent, (A) in the case of the Rate of Interest, at or as soon as practicable after each time at which the Rate of Interest is to be determined, and (B) in the case of the Interest Amount in accordance with the provisions for calculating amounts of interest in Condition 4.1. As used in these Conditions:
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Rate of Interest and Interest Payment Dates. The Notes shall bear interest on their then outstanding principal amount at the Floating Interest Rate calculated by the Calculation Agent from and including [insert Issue Date] (the "Issue Date"). Interest will be payable [annually][semi-annually][quarterly] in arrears on each Floating Interest Payment Date, the first such payment to be made on [insert First Floating Interest Payment Date] (the "First Floating Interest Payment Date").
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Related to Rate of Interest and Interest Payment Dates

  • Interest and Interest Payment Dates In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion of the Revolving Loans be charged (whether at the time when made (unless otherwise provided herein), upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of (i) the last day of the Interest Period applicable thereto; provided, that subject to the following clauses (ii) and (iii), in the case of any Interest Period greater than three months in duration, interest shall be payable at three month intervals after the commencement of the applicable Interest Period and on the last day of such Interest Period), (ii) the date on which all or any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date on which this Agreement is terminated pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Borrowers have properly exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, at the written election of Agent or the Required Lenders, Borrowers no longer shall have the option to request that Revolving Loans bear interest at a rate based upon the LIBOR Rate.

  • Interest Payment Dates Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and on the Termination Date; provided that (i) interest accrued pursuant to Section 3.02(c) shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than an optional prepayment of an ABR Loan prior to the Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion.

  • Interest Payment Dates; Interest and Fee Basis Interest accrued on each Floating Rate Advance shall be payable on each Payment Date, commencing with the first such date to occur after the date hereof, on any date on which the Floating Rate Advance is prepaid, whether due to acceleration or otherwise, and at maturity. Interest accrued on that portion of the outstanding principal amount of any Floating Rate Advance converted into a Eurodollar Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each Eurodollar Advance shall be payable on the last day of its applicable Interest Period, on any date on which such Eurodollar Advance is prepaid, whether by acceleration or otherwise, and at maturity. Interest accrued on each Eurodollar Advance having an Interest Period longer than three months shall also be payable on the last day of each three-month interval during such Interest Period. Interest and commitment fees shall be calculated for actual days elapsed on the basis of a 360-day year, except that interest calculated based on the Prime Rate shall be calculated for actual days elapsed on the basis of a 365, or when appropriate 366, day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received prior to noon (local time) at the place of payment. If any payment of principal of or interest on an Advance shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest in connection with such payment.

  • Interest Payment Frequency   Interest Payment Dates Monthly Fifteenth day of each calendar month, beginning in the first calendar month following the month this Note was issued. Quarterly Fifteenth day of every third calendar month, beginning in the third calendar month following the month this Note was issued. Semi-annual Fifteenth day of every sixth calendar month, beginning in the sixth calendar month following the month this Note was issued. Annual Fifteenth day of every twelfth calendar month, beginning in the twelfth calendar month following the month this Note was issued.

  • Deferrals of Interest Payment Dates So long as no Event of Default has occurred and is continuing, the Company shall have the right, at any time during the term of the Securities, from time to time to defer the payment of interest on such Securities for such period or periods (each an "Extension Period") not to exceed the number of consecutive quarterly periods that equal five years with respect to each Extension Period, during which Extension Periods the Company shall have the right to make partial payments of interest on any Interest Payment Date. No Extension Period shall end on a date other than an Interest Payment Date. At the end of any such Extension Period, the Company shall pay all interest then accrued and unpaid on the Securities (together with Additional Interest thereon, if any, at the rate specified for the Securities to the extent permitted by applicable law); provided, however, that no Extension Period shall extend beyond the Stated Maturity of the principal of the Securities; and provided further, however, that, during any such Extension Period, the Company shall not (i) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Company's capital stock, or (ii) make any payment of principal of or interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Company that rank pari passu in all respects with or junior in interest to the Securities (other than (a) repurchases, redemptions or other acquisitions of shares of capital stock of the Company in connection with any employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors or consultants, in connection with a dividend reinvestment or stockholder stock purchase plan or in connection with the issuance of capital stock of the Company (or securities convertible into or exercisable for such capital stock) as consideration in an acquisition transaction entered into prior to the applicable Extension Period, (b) as a result of an exchange or conversion of any class or series of the Company's capital stock (or any capital stock of a Subsidiary of the Company) for any class or series of the Company's capital stock or of any class or series of the Company's indebtedness for any class or series of the Company's capital stock, (c) the purchase of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of such capital stock or the security being converted or exchanged, (d) any declaration of a dividend in connection with any Rights Plan, or the issuance of rights, stock or other property under any Rights Plan, or the redemption or repurchase of rights pursuant thereto, or (e) any dividend in the form of stock, warrants, options or other rights where the dividend stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks pari passu with or junior to such stock). Prior to the termination of any such Extension Period, the Company may further defer the payment of interest, provided that no Event of Default has occurred and is continuing and provided further, that no Extension Period shall exceed the period or periods specified in such Securities, extend beyond the Stated Maturity of the principal of such Securities or end on a date other than an Interest Payment Date. Upon the termination of any such Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest Payment Date, the Company may elect to begin a new Extension Period, subject to the above conditions. No interest or Additional Interest shall be due and payable during an Extension Period, except at the end thereof, but each installment of interest that would otherwise have been due and payable during such Extension Period shall bear Additional Interest. The Company shall give the Holders of the Securities and the Trustee notice of its election to begin any such Extension Period at least one Business Day prior to the next succeeding Interest Payment Date on which interest on Securities would be payable but for such deferral or, with respect to any Securities issued to the Issuer Trust, so long as any such Securities are held by the Issuer Trust, at least one Business Day prior to the earlier of (i) the next succeeding date on which Distributions on the Preferred Securities of the Issuer Trust would be payable but for such deferral, and (ii) the date on which the Property Trustee of the Issuer Trust is required to give notice to holders of such Preferred Securities of the record date or the date such Distributions are payable, but in any event not less than one Business Day prior to such record date. The Trustee shall promptly give notice of the Company's election to begin any such Extension Period to the Holders of the Outstanding Securities.