Default Interest Amount definition

Default Interest Amount is defined in Section 4.5(c).
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Default Interest Amount means $8,322,917, representing accrued, unpaid default interest at a rate of 1% per annum outstanding under the First Lien Revolving Credit Agreement.
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Default Interest Amount has the meaning set forth in Section 5.15(c).
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Examples of Default Interest Amount in a sentence

  • Any payments not made within the specified period of time for payment shall incur an interest charge at the rate of the Default Interest Amount on such overdue amounts, excluding any amounts that are subject to a bona fide dispute between the Parties.

  • Notwithstanding any such issuance of Shares, all interest accrued on the Default Amount pursuant to Section 5.13(a) at the time of such issuance (the "Default Interest Amount") shall be deemed due and owing by the Defaulting Shareholder to the Company and interest shall accrue on the Default Interest Amount at the Default Rate until the Default Interest Amount, together with all interest accrued thereon, is paid in full.

  • The Loan Parties agree and acknowledge that failure to pay the Outstanding Default Interest Amount not later than the Accrued Default Interest Due Date shall constitute a Forbearance Default under the May Forbearance Agreement and result in a Termination Date with respect to the May Forbearance Agreement.

  • On or before December 29, 2023 (such date, the “Accrued Default Interest Due Date”), Borrowers will pay to the Noteholders the Outstanding Default Interest Amount.

  • On each Payment Date, the Class A Monthly Interest Amount, the Class A Monthly Default Interest Amount, the Class B Monthly Interest Amount and the Class B Monthly Default Interest Amount, in each case, with respect to such Payment Date, shall be due and payable on such Payment Date in accordance with the provisions hereof.

  • The amount of interest accrued by virtue of the imposition of the default rate of interest pursuant to Section 1.10 hereof through the Fourth Amendment Effective Date was $204,086 (the "Default Interest Amount").

  • Notwithstanding the foregoing, on the date on which no Installment Payments or any other amount required to be paid hereunder remains unpaid, the City shall pay to the Authority a fee equal to any accrued and unpaid Excess Default Interest Amount.

  • Notwithstanding any such issuance of Shares, all interest accrued on the Default Amount pursuant to clause (1) of this Bye-law 60 at the time of such issuance (the "Default Interest Amount") shall be deemed due and owing by the Defaulting Shareholder to the Company and interest shall accrue on the Default Interest Amount at the Default Rate until the Default Interest Amount, together with all interest accrued thereon, is paid in full.

  • Upon payment in full by the Borrowers of the Outstanding Default Interest Amount, unless Events of Default other than those attributable to the Specified Events are then continuing, interest on the AP Notes will no longer accrue interest at the Default Rate but rather will accrue interest as otherwise provided under the AP Notes.

  • The Noteholders, through Noteholder Representative, hereby agree that if Borrowers pay the Outstanding Default Interest Amount on or before the Accrued Default Interest Due Date, no late fees will be assessed under the Notes or AP Notes on account of Borrowers’ failure to timely make interest payments due under the Notes through the payment date ending closest to September 1, 2023.


More Definitions of Default Interest Amount

Default Interest Amount. ’ means, in respect of each Note of a Series, such Note’s pro rata share of the Aggregate Default Interest Amount (if any);
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Default Interest Amount means the prime rate of interest quoted in The Wall Street Journal on the first business day of the month during which an amount becomes overdue under this Supply Agreement, plus [***] calculated on an annual basis.
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Default Interest Amount means, with respect to any Defaulted Asset, the amount actually received by Seller attributable to interest accruing at the “Default Rate” (or any other similar concept as set forth in the related Purchased Asset Documents) in accordance with the terms of the applicable Purchased Asset Document.
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Default Interest Amount means, on any date Collections are applied in accordance with Section 8.01(a) or (d), as applicable, all default interest due pursuant to Section 2.10 of the Credit Agreement. “Excluded Assets” has the meaning given to such term in Section 3.02. “Excluded Payments” means payments in respect of (i) indemnities (including interest thereon, if applicable) payable (directly or indirectly) by a Lessee to an indemnitee (other than to a Grantor for its own account) pursuant to a Lease and (ii) proceeds of public liability insurance in respect of the Assets payable, directly or indirectly, as a result of insurance claims paid, or losses suffered, by a Person (other than a Grantor for its own account) and including, for the avoidance of doubt, the Lessee. “Expense Account” means the bank account held by Security Trustee identified in writing to the Borrower as the “Expense Account”. “FAA” means the Federal Aviation Administration. “FAA Security Document” means, collectively, each Asset Mortgage, each Asset Mortgage and Lease Security Assignment and each Lease Security Assignment. “Grantors” has the meaning given to such term in the introductory paragraph hereto and shall include each Additional Grantor. “Hedge Collateral” has the meaning specified in Section 3.01(m). “Interest Amount” means, on any date Collections are applied in accordance with Section 8.01(a) or (d), as applicable, all accrued and unpaid interest on the Loans which has accrued at the Interest Rate. “Lease Security Assignment” means a Lease Security Assignment substantially in the form of Part C of Schedule 12 attached hereto. “Maintenance Reserve Account” means the bank account held by Security Trustee identified in writing to the Borrower as the “Maintenance Reserve Account”. “Membership Interest Collateral” means (i) the Pledged Membership Interests, all certificates, if any, from time to time representing such Pledged Membership Interests, any contracts and instruments pursuant to which any such Pledged Membership Interests are created or issued and all distributions, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Membership Interest after the Closing Date; and (ii) all additional membership interests in any Borrower Group Company (including any Asset Owning Entity and Borrower Group Company the ownership of which is represented by membership interests) from time to time acquired by...
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Related to Default Interest Amount

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Interest Amount means, in relation to a Note and an Interest Period, the amount of interest payable in respect of that Note for that Interest Period;

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).