EFFECTIVE GLOBAL INTEREST RATE Clause Samples
EFFECTIVE GLOBAL INTEREST RATE. The parties to this Agreement expressly acknowledges that due to the specificity of the its provisions, it is impossible to precisely determine the effective global interest rate applicable to the Tranche C Advances in accordance with the provisions of the Consumer Code. Each Borrower nonetheless acknowledges that it has carried out all the estimates it deems necessary to determine the Advances global cost and acknowledge that it has received all the information for that purpose. In order to comply with articles L. 313-1 and 313-2 of the Consumer Code, an indication of the effective global interest rate applicable to each Tranche C Advance, as an example, is given at the Restatement Date to the Borrower in question. The effective global interest rate applicable to a Tranche B Advance would be three percent (3%) per annum.
EFFECTIVE GLOBAL INTEREST RATE. The parties to this Agreement expressly acknowledges that due to the specificity of the its provisions, it is impossible to precisely determine the effective global interest rate applicable to the Loans in accordance with the provisions of the Consumer Code. Each Borrower nonetheless acknowledges that it has carried out all the estimates it deems necessary to determine the Loans global cost and acknowledge that it has obtained all the information for that purpose. In order to comply with articles L. 313-1 and 313-2 of the Consumer Code, an indication of the effective global interest rate applicable to each Loan, as an example, is given at the Restatement Date to the Borrower in question.