Common use of Change of interest rate Clause in Contracts

Change of interest rate. (a) Regardless of the other provisions relating to the rate of interest in this Assignment, the Bank can, from time to time at its absolute discretion, change the rate of interest by notifying the Borrower in writing of such intention. (b) The amended rate of interest will be effective from the date specified in the notice. Such notice will be binding on the Assignor, and can be served in the manner provided in Clause 14. (c) The Assignor hereby agrees to irrevocably waive the requirement of the service of the notice if the change of interest rate relates only to the change in the Bank’s Base Lending Rate. (d) If the rate of interest changes at any time, the amount of interest due will be recalculated such that:- (i) the interest at the former rate will be charged from the date on which the Banking Facility was advanced or paid, or the first day the former rate of interest takes effect, as case may be, up to the day preceding the date when the new rate of interest takes effect; and (ii) interest at the new rate will be calculated from the date the new rate of interest takes effect up to the day prior to a subsequent change in the interest rate. Interest at the new rate will be deemed to be due as at the date when the variation takes effect. (e) No part of any payments to be made by the Borrower and/or the Assignor to the Bank will be deemed to be a repayment of principal until all interest due or deemed to be due to the Bank has been paid. (f) Where repayment is by instalment, if and whenever the rate of interest payable by the Borrower and/or the Assignor or the mode of computation of interest is changed, the Bank may at its absolute discretion make the necessary adjustment, consequent upon any change required by the Bank. (g) The Bank also may (without affecting the above):- (i) change the amount of any instalment payments; and/or (ii) change the number of any instalment payments.

Change of interest rate. (a) Regardless of the other provisions relating to the rate of interest in this Assignment, the Bank can, from time to time at its absolute discretion, change the rate of interest by notifying the Borrower in writing of such intention. (b) The amended rate of interest will be effective from the date specified in the notice. Such notice will be binding on the Assignor, and can be served in the manner provided in Clause Section 14. (c) The Assignor hereby xxxxxx agrees to irrevocably waive the requirement of the service of the notice if the change of interest rate relates only to the change in the Bank’s Bank‟s Base Lending Rate. (d) If the rate of interest changes at any time, the amount of interest due will be recalculated such that:-that – (i) the interest at the former rate will be charged from the date on which the Banking Facility was advanced or paid, or the first day the former rate of interest takes effect, as case may be, up to the day preceding the date when the new rate of interest takes effect; and (ii) interest at the new rate will be calculated from the date the new rate of interest takes effect up to the day prior to a subsequent change in the interest rate. Interest at the new rate will be deemed to be due as at the date when the variation takes effect. (e) No part of any payments to be made by the Borrower and/or the Assignor to the Bank will be deemed to be a repayment of principal until all interest due or deemed to be due to the Bank has been paid. (f) Where repayment is by instalment, if and whenever the rate of interest payable by the Borrower and/or the Assignor or the mode of computation of interest is changed, the Bank may at its absolute discretion make the necessary adjustment, consequent upon any change required by the Bank. (g) The Bank also may (without affecting the above):-above) – (i) change the amount of any instalment payments; and/or (ii) change the number of any instalment payments.

Change of interest rate. (a) 7.3.1 Regardless of the other provisions relating to the rate of interest and/or rests period in this AssignmentAgreement, the Bank can, from time to time at its absolute discretion, change the rate of interest and/or rests period from time to time by notifying the Borrower in writing of such intentionchange. (b) 7.3.2 The amended changed rate of interest and/or rests period will be effective from the date specified in the notice which will not be less than seven (7) days from the date of notice. Such notice will be binding on the Assignor, Borrower and can be served in the manner provided in Clause 1432. (c) 7.3.3 The Assignor Borrower hereby agrees to irrevocably waive the requirement of the service of the notice if the change of interest rate relates only to the change in the BLR and such change in BLR shall be deemed to have been notified to the Borrower upon the same being published in the Bank’s Base Lending Ratewebsite or any daily national newspaper as selected by the Bank. (d) 7.3.4 If the rate of interest changes at any time, the amount of interest due will be recalculated such that:- (i) the interest at the former rate will be charged from the date on which the Banking Facility was advanced or paid, or the first day the former rate of interest takes effect, as case may be, up to the day preceding the date when the new rate of interest takes effect; and (ii) interest at the new rate will be calculated from the date the new rate of interest takes effect up to the day prior to a subsequent change in the interest rate. Interest at the new rate will be deemed to be due as at the date when the variation takes effect. (e) 7.3.5 No part of any payments to be made by the Borrower and/or the Assignor to the Bank will be deemed to be a repayment of principal until all interest due or deemed to be due to the Bank has been paid. (f) 7.3.6 Where repayment is by instalment, if and whenever the rate of interest payable by the Borrower and/or the Assignor or the mode of computation of interest is changed, the Bank may at its absolute discretion will make the necessary adjustment, consequent upon any change required by the Bank. (g) The Bank also may (without affecting the above):- (i) change adjustment to the amount of any instalment payments; and/or payments and notify the Borrower of the changed instalments at least seven (ii7) change days prior to the number changed instalment comes into effect. The Borrower shall commencing from the effective date pays the changed instalment amount unless the Bank agrees to the Borrower’s written request to retain and pay the amount of any the existing instalment paymentsamount and the Borrower hereby represent and warrant to the Bank that at the time of their request, the Borrower is fully aware of the implications of their request to maintain the existing instalment amount.

Change of interest rate. (a) Regardless of the other provisions relating to the rate of interest in this Assignment, the Bank can, from time to time at its absolute discretion, change the rate of interest by notifying the Borrower in writing of such intention. (b) The amended rate of interest will be effective from the date specified in the notice. Such notice will be binding on the Borrower and/or the Assignor, and can be served in the manner provided in Clause 14Section 15. (c) The Borrower and the Assignor hereby agrees agree to irrevocably waive the requirement of the service of the notice if the change of interest rate relates only to the change in the Bank’s Bank‟s Base Lending Rate. (d) If the rate of interest changes at any time, the amount of interest due will be recalculated such that:-that – (i) the interest at the former rate will be charged from the date on which the Banking Facility was advanced or paid, or the first day the former rate of interest takes effect, as case may be, up to the day preceding the date when the new rate of interest takes effect; and (ii) interest at the new rate will be calculated from the date the new rate of interest takes effect up to the day prior to a subsequent change in the interest rate. Interest at the new rate will be deemed to be due as at the date when the variation takes effect. (e) No part of any payments to be made by the Borrower and/or the Assignor to the Bank will be deemed to be a repayment of principal until all interest due or deemed to be due to the Bank has been paid. (f) Where repayment is by instalment, if and whenever the rate of interest payable by the Borrower and/or the Assignor or the mode of computation of interest is changed, the Bank may at its absolute discretion make the necessary adjustment, consequent upon any change required by the Bank. (g) The Bank also may (without affecting the above):-above) – (i) change the amount of any instalment payments; and/or (ii) change the number of any instalment payments.

Change of interest rate. (a) Regardless of the other provisions relating to the rate of interest in this AssignmentAgreement, the Bank can, from time to time at its absolute discretion, change the rate of interest by notifying the Borrower in writing of such intention. (b) The amended rate of interest will be effective from the date specified in the notice. Such notice will be binding on the AssignorBorrower, and can be served in the manner provided in Clause 1461. (c) The Assignor Borrower hereby agrees to irrevocably waive the requirement of the service of the notice if the change of interest rate relates only to the change in the Bank’s Bank‟s Base Lending Rate. (d) If the rate of interest changes at any time, the amount of interest due will be recalculated such that:- (i) the interest at the former rate will be charged from the date on which the Banking Facility was advanced or paid, or the first day the former rate of interest takes effect, as case may be, up to the day preceding the date when the new rate of interest takes effect; and (ii) interest at the new rate will be calculated from the date the new rate of interest takes effect up to the day prior to a subsequent change in the interest rate. Interest at the new rate will be deemed to be due as at the date when the variation takes effect. (e) No part of any payments to be made by the Borrower and/or the Assignor to the Bank will be deemed to be a repayment of principal until all interest due or deemed to be due to the Bank has been paid. (f) Where repayment is by instalment, if and whenever the rate of interest payable by the Borrower and/or the Assignor or the mode of computation of interest is changed, the Bank may at its absolute discretion make the necessary adjustment, consequent upon any change required by the Bank. (g) The Bank also may (without affecting the above):- (i) change the amount of any instalment payments; and/or (ii) change the number of any instalment payments.