Interest Reserve Account

Interest Reserve Account. In an amount equal to all interest payments that are to be due and owing under the Convertible Notes for the period of twenty-four (24) months commencing as of the closing date of the Convertible Notes, which such amount shall be automatically reduced by the amounts of any actual interest payments paid by the Borrower under the Convertible Notes; provided that the balance in the Interest Reserve Account shall not be reduced below an amount equal to all interest payments that are to be due and... owing under the Convertible Notes for the then next twelve (12) month period. View More