Common use of Calculation and Payment of Interest Clause in Contracts

Calculation and Payment of Interest. 7.7.1 At the beginning of each Interest Period (other than in relation to a Fixed Rate Tranche), the Bank shall notify Newco of the rate and amount of interest payable for the Interest Period (but in the case of any default interest calculated under Clause 7.3, any such notification need not be made more frequently than weekly). Each notification shall set out in reasonable detail the basis of computation of the amount of interest payable.

Calculation and Payment of Interest. 7.7.1 6.4.1. At the beginning of each Interest Period (other than in relation to a Fixed Rate Tranche)Period, the Bank shall notify Newco the Borrower of the rate and amount of interest payable for the Interest Period (but in the case of any default interest calculated under Clause 7.36.3, any such notification need not be made more frequently than weekly). Each notification shall set out in reasonable detail the basis of computation of the amount of interest payable.

Calculation and Payment of Interest. 7.7.1 7.6.1 At the beginning of each Interest Period (other than in relation to a Fixed Rate Tranche)Period, the Bank shall notify Newco the Borrower of the duration of the Interest Period and the rate and amount of interest payable for the Interest Period (but in the case of any default interest calculated under Clause 7.37.4, any such notification need not be made more frequently than weekly). Each notification shall set out in reasonable detail the basis of computation of the amount of interest payable.