Supplemental Interest Payments Sample Clauses

The Supplemental Interest Payments clause establishes the obligation for one party to make additional interest payments beyond the standard interest rate specified in the agreement. Typically, this clause applies in situations where certain conditions are met, such as late payments, changes in benchmark rates, or the occurrence of specific events that trigger extra interest charges. Its core practical function is to compensate the receiving party for increased costs or risks, ensuring that they are not financially disadvantaged by circumstances outside the original agreement.
Supplemental Interest Payments. (a) The parties hereto do hereby create and establish a trust, the "Access Financial Supplemental Interest Trust 1997-2" (the "Supplemental Interest Trust"). The Supplemental Interest Trust shall hold a trust account, the "Supplemental Interest Payment Account", to be held by the Trustee in its name on behalf of the Supplemental Interest Trust. If, on any Determination Date, the Trustee determines that the amount to be available on the next Payment Date in the Supplemental Interest Payment Account (such amount, the "Supplemental Interest Payment Amount") is less than the excess of (i) the Class A-6 Full Interest Distribution Amount over (ii) the Class A-6 Interest Distribution Amount as of such Payment Date (the difference, if any, between the Supplemental Interest Payment Amount and such excess, the "Class A-6 Formula Interest Shortfall"), the Trustee shall deliver a notice in the form of Exhibit O hereto to the Designated Residual Owner demanding that the Designated Residual Owner fund the Class A-6 Formula Interest Shortfall on the related Payment Date. The amount so funded by the Designated Residual Owner on any such Payment Date is the "Interest Advance" for such Payment Date. The Trustee shall deposit any Interest Advance received by it in the amount of the Class A-6 Formula Interest Shortfall into the Class A Group II Distribution Account. On each Payment Date the Trustee shall withdraw from the Supplemental Interest Payment Account and deposit in the Group II Distribution Account the Class A-6 Formula Interest Shortfall; provided that the amount to be withdrawn may not exceed the Supplemental Interest Payment Amount (such amount, the "Funded Amount").
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Supplemental Interest Payments. 96 ARTICLE VIII
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Supplemental Interest Payments. (a) In consideration of the agreement of the Noteholders to consent to amend the Note Agreement in the respects set forth in Section 1 hereof, the Company hereby agrees to pay, in addition to the interest payable in respect of the Series A Notes and Series B Notes pursuant to the respective terms of such Notes and of the Note Agreement as in effect on the date hereof, supplemental interest ("Supplemental Interest") on the respective unpaid principal balances of the Series A Notes and Series B Notes from and after the date hereof, in accordance with this Section 2. D3 (b) The Supplemental Interest payable on the Series A Notes and Series B Notes for any day from and after the date hereof shall be and mean interest (computed on the basis of a 360-day year consisting of twelve 30 day months) on the respective US Dollar Equivalent (as defined below) of such unpaid principal balances at the corresponding rate per annum set forth in the table below, determined by reference to the respective ratings from time to time assigned to the Company's long-term, senior, unsecured debt (which is not guarantied or subject to any other form of credit enhancement) by Standard and Poor's Ratings Group and ▇▇▇▇▇'▇ Investor Service, Inc., and published by the applicable rating agency: ------------------------------------------------- Applicable Debt Ratings Supplemental Interest ------------------------------------------------- ------------------------------------------------- BBB+ or Baa1 (or 0.40% higher)1 ------------------------------------------------- ------------------------------------------------- BBB or Baa21 0.60% ------------------------------------------------- ------------------------------------------------- BBB- or Baa3 (or 1.00% lower) 1 ------------------------------------------------- 1 In the event of a split rating, the higher of the two ratings will determine the applicable Supplemental Interest. (c) Supplemental Interest shall be payable in arrears on each March 1, June 1, September 1 and December 1 subsequent to the date hereof in US Dollars in immediately available funds by wire transfer for credit to: Each such wire transfer shall also reference the name of the Company, and the following information for the applicable Note to which such payment applies " _____% Series __ Notes due ____________, Security No. !INV ____!, PPN _____", and the due date and application (Supplemental Interest) of the payment being made. (d) For purposes hereof, the term "US Do...
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Related to Supplemental Interest Payments

  • Interest Payments Unless otherwise specified on the face hereof, the Interest Payment Dates will be, in the case of a Floating Rate Note which resets: (1) daily, weekly or monthly—the fifteenth day of each calendar month or on the fifteenth day of March, June, September and December of each year, as specified on the face hereof; (2) quarterly—the fifteenth day of March, June, September and December of each year; (3) semi-annually—the fifteenth day of the two months of each year specified on the face hereof; and (4) annually—the fifteenth day of the month of each year as specified on the face hereof. In addition, the Maturity Date will also be an Interest Payment Date. If any Interest Payment Date other than the Maturity Date for this Floating Rate Note would otherwise be a day that is not a Business Day, such Interest Payment Date will be postponed to the next succeeding Business Day, except that in the case of a Floating Rate Note as to which LIBOR is an applicable Interest Rate Basis and that Business Day falls in the next succeeding calendar month, the particular Interest Payment Date will be the immediately preceding Business Day. If the Maturity Date of a Floating Rate Note falls on a day that is not a Business Day, the Trust will make the required payment of principal, premium, if any, and interest or other amounts on the next succeeding Business Day, and no additional interest will accrue in respect of the payment made on that next succeeding Business Day.

  • Interest Payment For each Interest Payment Date the amount of interest due with respect to the Class A(2018-3) Notes shall be an amount equal to (i) (A) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 360, times

  • 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.

  • 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.

  • Principal and Interest Payments The Borrower shall pay to the Lender the principal amount of the Loan plus accrued interest in accordance with Section 2.07 hereof, or the Borrower may make prepayments in accordance with Section 2.05 hereof (a “Prepayment Date”).