Common use of CALCULATION OF DEBIT INTEREST Clause in Contracts

CALCULATION OF DEBIT INTEREST. In calculating interest on debit balances in euro up to the agreed amount of the overdraft facility, HBU shall apply the HBU Euro Base Rate (HBU Euro Basisrente). Until further notice, the HBU Euro Base Rate shall consist of the leading refi rate (the rate of the main refinancing operation (Basisherfinancieringsrente)) as determined from time to time by the European Central Bank ('ECB'), plus a debit interest surcharge. With respect to the HBU Euro Base Rate, HBU shall apply the minimum base rate stated in the Credit Agreement. The HBU Euro Base Rate shall be increased by the individual margin stated in the Credit Agreement. If the ECB changes the rate of the main refinancing operation, or HBU changes the debit interest surcharge or alters the composition or method of calculation of the HBU Euro Base Rate, the debit interest rate shall be adjusted accordingly. HBU shall announce changes in the debit interest surcharge as well as any alterations in the composition or method of calculation of the HBU Euro Base Rate in at least three national daily newspapers in the Netherlands. Interest on debit balances in a currency other than the euro shall be payable at a rate to be determined by HBU. HBU may at any time change the individual margin stated in the Credit Agreement.

CALCULATION OF DEBIT INTEREST. In calculating interest on debit balances in euro up to the agreed amount of the overdraft facility, HBU shall apply the HBU Euro Base Rate (HBU Euro Basisrente). Until further notice, the HBU Euro Base Rate shall consist of the leading refi rate (the rate of the main refinancing operation (Basisherfinancieringsrente)) as determined from time to time by the European Central Bank ('‘ECB'’), plus a debit interest surcharge. With respect to the HBU Euro Base Rate, HBU shall apply the minimum base rate stated in the Credit Agreement. The HBU Euro Base Rate shall be increased by the individual margin stated in the Credit Agreement. If the ECB changes the rate of the main refinancing operation, or HBU changes the debit interest surcharge or alters the composition or method of calculation of the HBU Euro Base Rate, the debit interest rate shall be adjusted accordingly. HBU shall announce changes in the debit interest surcharge as well as any alterations in the composition or method of calculation of the HBU Euro Base Rate in at least three national daily newspapers in the Netherlands. Interest on debit balances in a currency other than the euro shall be payable at a rate to be determined by HBU. HBU may at any time change the individual margin stated in the Credit Agreement.