Calculation of Interest and Default Interest Sample Clauses

Calculation of Interest and Default Interest. The calculation of interest shall be on a daily basis and 1 (one) year shall be 365 (three hundred and sixty-five) days for the credit facility in Thai Baht currency and 1 (one) year shall be 360 (three hundred and sixty) days for the credit facility in other currencies (including the first day of the interest period and excluding the last day of such interest period), unless the Bank specifies otherwise. If the Bank has already made repayment to the Beneficiary, the Customer agrees to compensate the Bank in accordance with the sum paid by the Bank together with interest at the Default Interest Rate equal to MINIMUM RETAIL RATE (MRR) (“Interest Rate”) plus 3 (three) percent per annum without prior notice to the Customer, provided that such Default Interest Rate does not exceed the rate prescribed by law. The Default Interest Rate shall be calculated from the date that the Bank had made payment until the date on which the actual repayment has been made to the Bank by the Customer in full. The Customer agrees and acknowledges that the Bank is entitled to immediately announce a change to the Interest Rate in accordance with the notifications of the Bank which is notified at its principal office, branch offices and on the website of the Bank, or in notifications of the Bank of Thailand or notifications of any agencies or as prescribed by laws at that time, provided that such Interest Rate shall not exceed the rate prescribed by laws. If the Default Interest Rate is changed, the Customer agrees that the Bank shall be entitled to change the Default Interest Rate immediately from the date on which the changed interest rate is effective without notifying to or obtaining consent from the Customer.
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Calculation of Interest and Default Interest. The calculation of interest shall be on a daily basis and 1 (one) year shall be 365 (three hundred and sixty-five) days for a Promissory Note in Thai Baht currency and 1 (one) year shall be 360 (three hundred and sixty) days for a Promissory Note in other currencies which shall include the first day of the interest period but shall exclude the last day of the said period, except for the Bank’s notification otherwise. In the case that the Customer fails to repay any debt under the Promissory Note upon request or on the maturity date (as the case may be) and/or the Customer defaults under this Supplement, or there has been an occurrence of any of the events set out in the Master Agreement, regardless of any reason, the Customer agrees to the use of the Request for Packing Credit/Invoice Financing Facility Pursuant to P/N as evidence of the receipt of the aforesaid funds completely obtained by the Customer from the Bank, and the Bank shall have the right of using the Request for Packing Credit/Invoice Financing Facility Pursuant to P/N to demand the indebtedness immediately in the amount stated in the Request for Packing Credit/Invoice Financing Facility Pursuant to P/N together with the accrued interest at the Default Interest Rate, deriving from the maximum interest rate actually charged for the Promissory Note with an addition of 3 (three) percent per annum, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). In case that the Promissory Notes issued by the Customer to the Bank specify the amount as a foreign currency, after the Bank converts the foreign currency under the Promissory Note into Thai Baht in accordance to Clause 5, the Bank shall be entitled to charge the Default Interest rate deriving from the maximum interest rate of (1) Market Rate for Thai Baht Loan or (2) Reference Rate for Thai Baht Loan such as, but not limited to, interest rates of MLR/ MOR/ MRR (as the case may be), with an addition of 3 (three) percent per annum which will be notified to the Customer in Advice, provided that such interest rate shall not exceed the rate prescribed by the law (which may later be changed in the future at the time a default or a breach occurs). The Default Interest Rate shall be calculated from the date of failure to pay or default until the date of actual payment to the Bank in full. The Customer agrees and acknowledges that the Bank is ent...
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Related to Calculation of Interest and Default Interest

  • Computation of Interest and Fees All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Calculation of Interest The rate of interest on each Loan for each Interest Period is the percentage rate per annum which is the aggregate of the applicable:

  • Default Interest Rate From and after the occurrence of any Event of Default, and so long as any such Event of Default remains unremedied or uncured thereafter, the Obligations outstanding under the Agreement shall bear interest at a per annum rate of five percent (5%) above the otherwise applicable interest rate hereunder, which interest shall be payable upon demand. In addition to the foregoing, a late payment charge equal to five percent (5%) of each late payment hereunder may be charged on any payment not received by Bank within ten (10) calendar days after the payment due date therefor, but acceptance of payment of any such charge shall not constitute a waiver of any Event of Default under the Agreement. In no event shall the interest payable under this Addendum and the Agreement at any time exceed the maximum rate permitted by law.

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to:

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

  • Computation of Interest Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months.

  • Variation of interest and charges We are entitled, in our reasonable discretion, to vary or determine, at any time and from time to time, the amounts, rates, types and/or basis of calculation of all interests, fees and charges payable by you under this agreement after giving reasonable notice. Without prejudice to the foregoing, such notice of changes of interests, fees and charges may be contained in the statement of account, which shall be effective from such date as we may specify. We may debit the same to your card account and/ or request that you pay the same on demand as we may deem fit.

  • Interest on Overdue Amounts 22.1 Any Licence Fee which is payable and remains unpaid for a period in excess of 30 (thirty) days from the date of the invoice, will attract interest at the current legal rate, calculated in accordance with the interest rate prescribed by the Minister of Justice in accordance with the Prescribed Rate of Interest Act 55 of 1975, as amended.

  • Payments of Interest and Principal (a) The Issuer will cause interest to be paid on each Interest Payment Date and principal to be paid on the Expected Maturity Date; provided, however, that it shall not be an Event of Default if principal is not paid in full on such Expected Maturity Date unless funds for such payment have been allocated in accordance with Section 3.01 of the Indenture Supplement; and provided, further, that if a Class C(2020-5) Adverse Event has occurred and is continuing, principal will instead be payable in monthly installments on each Principal Payment Date for the Class C(2020-5) Notes in accordance with Sections 3.01 and 3.05 of the Indenture Supplement. All payments of interest and principal on the Class C(2020-5) Notes shall be made as set forth in Section 1102 of the Indenture.

  • Notification of Rate of Interest and Interest Amounts The Agent or the Calculation Agent, as applicable, will cause the Rate of Interest and each Interest Amount for each Interest Period and the relevant Interest Payment Date to be notified to the Issuer and any stock exchange on which the relevant Floating Rate Notes are for the time being listed (by no later than the first day of each Interest Period) and notice thereof to be published in accordance with Condition 13 as soon as possible after their determination but in no event later than the fourth London Business Day thereafter. Each Interest Amount and Interest Payment Date so notified may subsequently be amended (or appropriate alternative arrangements made by way of adjustment) without prior notice in the event of an extension or shortening of the Interest Period. Any such amendment will promptly be notified to each stock exchange on which the relevant Floating Rate Notes are for the time being listed and to the Noteholders in accordance with Condition 13. For the purposes of this paragraph, the expression London Business Day means a day (other than a Saturday or a Sunday) on which banks and foreign exchange markets are open for general business in London.

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