Common use of Calculation of Interest Charges Clause in Contracts

Calculation of Interest Charges. Interest is charged on your net daily adjusted debit balance. The net daily adjusted debit balance is determined by combining all your accounts and excluding credits resulting from short sales and any bal- ances in income accounts. Short positions will be “marked to the market” periodically, and any resulting appreciation in the market price over the selling price will increase the debit balance in your Account and any decrease in the market price from the selling price will decrease the debit balance. Interest will normally be computed from the second to last day of the preceding month through the third to the last day of the current month. These periods coincide with Stifel’s monthly closing date, which is normally the last day of the month. Months ending on a Saturday or Sunday are considered to have ended on Friday. Months ending on a Monday are computed through the last Thursday. If there is an interest rate change during the month, separate charges will be made for each portion of the month during which different rates were effective. Interest is charged monthly and from the date of the last rate change, if any, to the debit balance in your Account. You agree that if monthly interest charges are not paid, such charges are added to your debit balance, and interest will be charged on the new debit balance in future months. The actual interest calculations are performed according to the following formula: No. of Days Adjusted Daily x Interest x in Int. Period = Interest Debit Balance Rate 360 Charge

Calculation of Interest Charges. Interest is charged on your net daily adjusted debit balance. The net daily adjusted debit balance is determined by combining all your accounts and excluding credits resulting from short sales and any bal- ances in income accounts. Short positions will be “marked to the market” periodically, and any resulting appreciation in the market price over the selling price will increase the debit balance in your Account and any decrease in the market price from the selling price will decrease the debit balance. Interest will normally be computed from the second to last day of the preceding month through the third to the last day of the current month. These periods coincide with Stifel’s monthly closing date, which is normally the last day of the month. Months ending on a Saturday or Sunday are considered to have ended on Friday. Months ending on a Monday are computed through the last Thursday. If there is an interest rate change during the month, separate charges will be made for each portion of the month during which different rates were effective. Interest is charged monthly and from the date of the last rate change, if any, to the debit balance in your Account. You agree that if monthly interest charges are not paid, such charges are added to your debit balance, and interest will be charged on the new debit balance in future months. The actual interest calculations are performed according to the following formula: No. of Days Adjusted Daily x Interest x in Int. Period = Interest Debit Balance Rate 360 Charge.

Calculation of Interest Charges. Interest is charged on your net daily adjusted debit balance. The net daily adjusted debit balance is determined deter- mined by combining all your accounts and excluding credits resulting from short sales and any bal- ances balances in income accounts. Short positions will be “marked to the market” periodically, and any resulting appreciation appre- ciation in the market price over the selling price will increase the debit balance in your Account and any decrease in the market price from the selling price will decrease the debit balance. Interest will normally be computed from the second to last day of the preceding month through the third to the last day of the current month. These periods coincide with Stifel’s monthly closing date, which is normally the last day of the month. Months ending on a Saturday or Sunday are considered to have ended on Friday. Months ending on a Monday are computed through the last Thursday. If there is an interest rate change during the month, separate charges will be made for each portion of the month during which different rates were effective. Interest is charged monthly and from the date of the last rate change, if any, to the debit balance in your Account. You agree that if monthly interest charges are not paid, such charges are added to your debit balance, and interest will be charged on the new debit balance in future months. The actual interest calculations are performed according to the following formula: No. of Days Adjusted Daily x Interest x in Int. Period = Interest Debit Balance Rate 360 Charge