Accrued Interest” is the total amount of Interest that has been earned on, but not yet paid, on a secured Loan, Convertible Promissory Note or another Debt Security or Debt instrument.  The payment terms applicable to Accrued Interest depend on the nature of the Debt transaction. For example, in a typical Convertible Debt Financing, the Accrued Interest and related Principal are either convertible into Equity Securities upon a conversion event or otherwise due and payable upon the Maturity Date of the Convertible Promissory Note.   By contrast, in a typical secured Loan, it is not uncommon for lenders to pay out Accrued Interest periodically for so long as the Loan is outstanding.