Interest Payment Date definition: Copy, customize, and use instantly
Introduction
The term "Interest Payment Date" refers to the specific date on which interest payments are due under a loan, credit facility, or financial agreement. It is crucial for determining when interest is payable, whether on a fixed schedule or upon meeting specific conditions in the agreement.
Below are various examples of how "Interest Payment Date" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Interest Payment Date" as a fixed date
This definition ties "Interest Payment Date" to a fixed, unchanging date on which interest payments are due, typically at regular intervals such as monthly, quarterly, or annually.
"Interest Payment Date" means the specific date on which interest is due to be paid, typically set at regular intervals such as monthly, quarterly, or annually, as stipulated in the agreement.
Definition of "Interest Payment Date" as a due date for each period
This definition connects "Interest Payment Date" to the end of each interest period, during which interest is calculated and paid.
"Interest Payment Date" refers to the due date at the end of each interest period during which interest is calculated and paid, following the agreed-upon frequency of payments.
Definition of "Interest Payment Date" as a scheduled term
This definition links "Interest Payment Date" to a scheduled date for payment, often determined at the outset of the agreement.
"Interest Payment Date" means the scheduled date agreed upon by the parties for the payment of interest, which can occur at any regular interval as set forth in the loan or investment agreement.
Definition of "Interest Payment Date" as an annual term
This definition applies "Interest Payment Date" to an annual schedule, where interest is paid once per year.
"Interest Payment Date" refers to the date on which interest payments are due annually, with interest accrued throughout the year and paid in full on this specified date.
Definition of "Interest Payment Date" as a semi-annual term
This definition ties "Interest Payment Date" to a semi-annual schedule, with payments due every six months.
"Interest Payment Date" means the date on which interest payments are due twice a year, typically six months apart, for loans or credit agreements with semi-annual payment terms.
Definition of "Interest Payment Date" as a quarterly term
This definition connects "Interest Payment Date" to quarterly intervals, with interest payments due every three months.
"Interest Payment Date" refers to the date on which interest is due every three months, aligning with quarterly payment terms for loans or financial agreements.
Definition of "Interest Payment Date" as a monthly term
This definition applies "Interest Payment Date" to a monthly schedule, with payments due at the end of each month or a specific date each month.
"Interest Payment Date" means the date on which interest payments are due monthly, typically at the end of each month or on a specific agreed-upon date each month.
Definition of "Interest Payment Date" as an adjustable term
This definition ties "Interest Payment Date" to an adjustable schedule, where the payment date can vary based on certain conditions.
"Interest Payment Date" refers to the date on which interest payments are due, which may be adjusted based on the terms of the agreement or triggered by certain conditions specified in the contract.
Definition of "Interest Payment Date" as a flexible term
This definition connects "Interest Payment Date" to a flexible arrangement, where the parties may mutually agree on the payment date.
"Interest Payment Date" means a flexible date set by the parties involved, allowing the interest payment to be made on a date that may vary based on mutual agreement or business needs.
Definition of "Interest Payment Date" as a variable rate date
This definition links "Interest Payment Date" to periods where the interest rate may change, impacting the payment due date.
"Interest Payment Date" refers to the date on which interest payments are due, under agreements where the interest rate may fluctuate, and payments are made based on the rate in effect at the time.
Definition of "Interest Payment Date" as a default date
This definition applies "Interest Payment Date" to a default date set by the agreement, typically in the absence of other conditions or events.
"Interest Payment Date" means the date on which interest is due according to the default schedule, which may be set in the agreement and modified based on payment performance or other contractual terms.
Definition of "Interest Payment Date" as a set frequency
This definition ties "Interest Payment Date" to a fixed frequency of payment, such as monthly, quarterly, or annually.
"Interest Payment Date" refers to the date when interest payments are made, which occurs at fixed intervals as defined in the agreement, whether monthly, quarterly, semi-annually, or annually.
Definition of "Interest Payment Date" as a due date for accrued interest
This definition connects "Interest Payment Date" to the specific due date when accrued interest is paid.
"Interest Payment Date" means the date on which accrued interest is due to be paid on the outstanding balance of the loan, investment, or other financial arrangement.
Definition of "Interest Payment Date" as a day-count basis
This definition applies "Interest Payment Date" to a day-count basis for interest accrual, where interest is calculated based on the number of days in the relevant period.
"Interest Payment Date" refers to a specified date determined based on a day-count basis for interest accrual, with interest calculated on the number of days in the relevant period.
Definition of "Interest Payment Date" as a fixed repayment term
This definition links "Interest Payment Date" to a fixed repayment schedule, where the payment date is predetermined and not subject to variation.
"Interest Payment Date" means the date on which interest payments are fixed and due, with no variation in the schedule unless mutually agreed upon in the agreement.
Definition of "Interest Payment Date" as a specific calendar day
This definition ties "Interest Payment Date" to a fixed calendar day of the month, regardless of the day of the week.
"Interest Payment Date" refers to a fixed date on the calendar, such as the 15th of each month, on which interest is due, regardless of the day of the week.
Definition of "Interest Payment Date" as a date triggered by the loan agreement
This definition connects "Interest Payment Date" to specific terms in the loan agreement that determine when the interest is payable.
"Interest Payment Date" means the date determined by the terms of the loan agreement, which may be based on a trigger event such as the end of a fiscal quarter or completion of a milestone.
Definition of "Interest Payment Date" as a date tied to the loan maturity
This definition links "Interest Payment Date" to the maturity date of the loan, marking the end of the term for interest payments.
"Interest Payment Date" refers to the date on which interest payments are due, coinciding with the maturity date of the loan, at which point the final interest payment is made.
Definition of "Interest Payment Date" as a customized payment interval
This definition applies "Interest Payment Date" to a situation where the payment date is tailored to meet the specific needs of the parties involved.
"Interest Payment Date" means a customized date or interval, agreed upon by the parties to the contract, to determine when interest payments should be made during the term of the loan.
Definition of "Interest Payment Date" as based on an anniversary date
This definition ties "Interest Payment Date" to an anniversary of the loan agreement or an initial event, such as the loan disbursement date.
"Interest Payment Date" refers to the anniversary of the date the loan is disbursed or another specified event, with interest payments made annually on that date.
Definition of "Interest Payment Date" as a business day adjustment
This definition links "Interest Payment Date" to a business day rule, where payments are due on the next business day if the scheduled date falls on a non-business day.
"Interest Payment Date" means the date on which interest payments are due, with an adjustment to the next business day if the scheduled payment date falls on a weekend or holiday.
Definition of "Interest Payment Date" as a rolling term
This definition applies "Interest Payment Date" to a rolling term, where payments are due at regular intervals from a specific starting point.
"Interest Payment Date" refers to a rolling payment schedule, where interest payments are due at regular intervals starting from an agreed-upon date, and continue periodically until the loan's maturity.
Definition of "Interest Payment Date" as a scheduled payment under a line of credit
This definition ties "Interest Payment Date" to the drawdowns under a line of credit, where interest is paid periodically on the outstanding balance.
"Interest Payment Date" means the date on which interest payments are due on the drawn amount of a line of credit, typically based on a pre-determined frequency such as monthly or quarterly.
Definition of "Interest Payment Date" as a payment due after a grace period
This definition connects "Interest Payment Date" to a grace period, where interest payments may be due after a set period of time from the loan's disbursement or a specific event.
"Interest Payment Date" refers to the date on which interest payments are due, occurring after a specified grace period following the disbursement of the loan or another trigger event.
Definition of "Interest Payment Date" as a rolling interest period
This definition applies "Interest Payment Date" to a situation where the interest period rolls over, with payments based on a moving calculation of the loan’s term.
"Interest Payment Date" means the date on which interest is due, calculated at regular intervals throughout the life of the loan, with interest periods rolling forward as agreed.
Definition of "Interest Payment Date" as a fixed-term based date
This definition connects "Interest Payment Date" to a fixed-term loan, where payments are due at the conclusion of the term or on a set schedule.
"Interest Payment Date" refers to the scheduled date when interest payments are due, as specified in the loan agreement, based on a fixed term for repayment.
Definition of "Interest Payment Date" as a modified schedule
This definition links "Interest Payment Date" to a schedule that can be modified based on changes in the loan’s terms or conditions.
"Interest Payment Date" means the date when interest payments are due, with a schedule that may be modified in accordance with the loan agreement, based on the financial terms or modifications during the loan's life.
Definition of "Interest Payment Date" as a variable frequency date
This definition ties "Interest Payment Date" to a variable frequency, where interest payments may be due at different intervals, depending on the loan agreement.
"Interest Payment Date" refers to the date on which interest payments are due, which may change depending on the frequency agreed upon by the parties involved in the loan or credit agreement.
Definition of "Interest Payment Date" as tied to a specific performance milestone
This definition connects "Interest Payment Date" to a performance milestone that triggers when interest is due based on a condition in the agreement.
"Interest Payment Date" refers to the date on which interest payments are due, triggered by the completion of a specific performance milestone or event stipulated in the loan agreement.
Definition of "Interest Payment Date" as a final payment term
This definition applies "Interest Payment Date" to the final payment due at the conclusion of a loan agreement or financial term.
"Interest Payment Date" means the final date on which interest payments are due, usually coinciding with the end of the loan term or maturity date, where any outstanding interest must be paid in full.
Definition of "Interest Payment Date" as a date that follows a payment holiday
This definition links "Interest Payment Date" to a holiday schedule, where payments may be due on the next business day after a payment holiday.
"Interest Payment Date" refers to the date on which interest payments are due, with a provision for payments to be made on the next business day if the scheduled date falls on a public holiday.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.