For Adjustable Rate of Interest Sample Clauses

For Adjustable Rate of Interest. (I) The EMI comprises of principal and interest monthly rests at the AIR and is rounded off to the next rupee and any other charges shall be computed on the basis of a year of three hundred and sixty-five days. PROVIDED all future /further AIRs applicable for the amount of Loan lent by IHFL to the Borrower shall be applied by IHFL on the basis of Interest Rate Rest Revision Cycle (IRRRC) which is monthly, with the first such application to be done on the first day of the month following the month in which the period of IRRRC computed from the date of first disbursement of the Loan is completed. The subsequent application shall be made after every period of IRRRC commencing from such first application.
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Related to For Adjustable Rate of Interest

  • Alternate Rate of Interest If prior to the commencement of any Interest Period for a Eurodollar Borrowing:

  • Interest Rate Limitation Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

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