Amount Accrued Interest Clause Samples
The 'Amount Accrued Interest' clause defines how interest that has accumulated on a principal sum is calculated and recognized up to a specific date. Typically, this clause outlines the method for determining the amount of interest owed, such as specifying the interest rate, the compounding period, and the relevant time frame for accrual. For example, it may apply to loans, bonds, or other financial instruments where interest is earned or payable over time. The core function of this clause is to ensure both parties have a clear and agreed-upon method for calculating and settling interest obligations, thereby preventing disputes over the amount due at any point in the contract.
Amount Accrued Interest. The Subject Borrower hereby acknowledges that effectiveness of the Loan Prepayment contemplated hereby shall not (x) affect any right of recourse against the Borrower that Lender may have pursuant to Section 17.0 of the MLSA or (y) discharge any other Obligation that the Borrower may have to Lender pursuant to the MLSA.
Amount Accrued Interest. The Subject Borrower hereby acknowledges that effectiveness of the Loan Prepayment contemplated hereby shall not (x) affect any right of recourse against the Borrower that Lender may have pursuant to Section 17.0 of the MLSA or (y) discharge any other Obligation that the Borrower may have to Lender pursuant to the MLSA. The undersigned Primary Dealer represents and warrants to Lender that it has been duly authorized by the Subject Borrower to execute and deliver this Loan Prepayment notice on the Subject Borrower’s behalf. [Signature page follows.] Very truly yours, Subject Borrower’s Applicable Primary Dealer with respect the Loan set forth in the table above By: Name: Title: [ ] [ ] cc: Federal Reserve Bank of New York, as Lender ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ New York, NY 10045-0001 Att: ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇.▇▇▇▇▇▇@▇▇.▇▇▇.▇▇▇ Federal Reserve Bank of New York, as Lender ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ New York, NY 10045-0001 Att: ▇▇▇▇▇ ▇. Hansen ▇▇▇▇▇.▇▇▇▇▇▇@▇▇.▇▇▇.▇▇▇ Document comparison by Workshare Professional on Monday, May 04, 2009 2:42:16 PM Document 1 ID file://M:\CA\DELTAVIEW\mlsa.090421_1245.doc Description mlsa.090421_1245 Document 2 ID file://M:\CA\DELTAVIEW\mlsa.090504_1440.doc Description mlsa.090504_1440 Rendering set DPW -- Color Legislative Deletion Moved from Style change Format change Moved deletion Inserted cell Deleted cell Moved cell Split/Merged cell Padding cell Statistics: Count