Example ContractsClausesInterest Period
Interest Period
Interest Period contract clause examples

Interest Period. Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Term Loan Advance occurs, and continuing on the Payment Date of each month thereafter, Borrower shall make monthly payments of interest to Agent, for the account of the Lenders, in arrears, on the principal amount of each Term Loan Advance, at the rate set forth in Section 2.2 (a).

Each Advance has only one Interest Period.

The Interest Periods for the Loan shall be # from the Utilization Date until the first Interest Payment Date and # thereafter, from one Interest Payment Date to the next, until the Last Repayment Date.

Interest Period. Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the applicable Growth Capital Advance occurs, and continuing on the Payment Date of each month thereafter, Borrower shall make monthly payments of interest to Agent, for the account of the Lenders, in arrears, on the principal amount of each Growth Capital Advance, at the rate set forth in [Section 2.2(a)].

Interest Period. Commencing on the first (1st) Payment Date of the month following the month in which the Funding Date of the Term Loan Advance occurs, and continuing on each Payment Date thereafter, Borrower shall make monthly payments of interest on the principal amount of the Term Loan Advance at the rate set forth in [Section 2.2(a)].

Interest Period. The initial Interest Period shall commence on the Drawdown Date, with each successive Interest Period commencing on the last day of the prior Interest Period.

Fixed Interest Period. The interest rate will be 2.744%. Interest on this Note during the Fixed Interest Period is computed on a 30/360 simple interest basis; that is, with the exception of odd days in the first payment period, monthly interest is calculated by applying the ratio of the annual interest rate over a year of360 days, multiplied by the outstanding principal balance, multiplied by a month of 30 days. Interest for the odd days is calculated on the basis of the actual days to the next full month and a 360-day year. Borrower understands that Lender may make loans based on other rates as well.

. Interest only on the Principal Indebtedness shall be payable on the Closing Date, in advance, for the Stub Interest Period.

Notice of Interest Period and Interest Rate. Promptly after receipt of a Notice of Borrowing pursuant to [Section 2.02(a)], a notice of Conversion pursuant to [Section 2.09] or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

Notice of Interest Period and Interest Rate. Promptly after receipt of a Notice of Borrowing pursuant to [Section 2.02(a)], a notice of Conversion pursuant to [Section 2.09] or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

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