INTEREST AND OTHER CHARGES. (a) The Trust shall pay Bank interest, in arrears, on the principal amount of each Loan from the date on which such Loan is made pursuant to Section 2 above until such Loan is due under this Agreement, at a rate per annum during each Interest Period equal to 30-day LIBOR on the Interest Commencement Date of such Interest Period plus one percent (100 basis points).
(b) All interest payable under this Agreement shall be calculated by Bank, on the basis of a 360-day year and for the actual number of days elapsed. Interest accrued on a Loan pursuant to Section 5(a) above shall be payable by the Trust (i) monthly on the 10th day of the calendar month next succeeding the calendar month in which such Interest Period ended (or, if such 10th day is not a Business Day, on the next succeeding Business Day), (ii) upon repayment of such Loan in full, and (iii) as otherwise provided in this Agreement. For purposes of computing interest, a Loan shall be deemed to be outstanding on the day that it is made, but not on the day that it is repaid.
(c) The Trust shall pay Bank interest on any amount not paid by the Trust when due under this Agreement, from the date payment of such amount was due until the date such amount is paid, at a fluctuating rate per annum during each Interest Period equal to 30-day LIBOR on the Interest Commencement Date of such Interest Period plus two percent (200 basis points). Such interest shall be payable on demand made by Bank from time to time.
(d) Each determination of an interest rate by Bank pursuant to this Agreement shall be conclusive and binding on the Trust in the absence of manifest error.
(e) In no event whatsoever shall the interest rate and other charges charged hereunder exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in a final determination, deem applicable hereto. In the event that such a court determines, in a final determination, that Bank has received interest and other charges hereunder in excess of such highest rate, Bank shall promptly refund such excess amount to the Trust, and the provisions hereof shall be deemed amended to provide for such permissible rate.
INTEREST AND OTHER CHARGES. 22 3.1 Interest....................................................... 22 3.2 Conversion and Continuation Elections.......................... 23 3.3 Maximum Interest Rate.......................................... 24 3.4
INTEREST AND OTHER CHARGES. The Loans shall bear interest on the average daily net balance thereof, calculated monthly, at a fluctuating rate of interest equal to the Prime Rate. Changes in the rate of interest shall be effected monthly to reflect changes in the Prime Rate, as follows: The rate shall be adjusted on the first day of each month based on the Prime Rate in effect at the close of business on the last Banking Day of the preceding calendar month. Interest shall be due and payable monthly, on the first day of each month, for the preceding month. The final payment of all accrued and unpaid interest shall be due and payable on the date that the outstanding principal amount of the Loans is paid or due and payable in full. After an Event of Default, interest shall also be due and payable upon the Lender's demand from time to time. The Lender shall inform the Borrower of the amount of interest due and payable as of each payment date set forth in the preceding paragraph, and the Borrower shall pay the interest when due or the Lender may, in its discretion, charge such amount to the Borrower's account under this Agreement. As additional consideration for the credit facility established in Section 2.1, the Borrower agrees to pay to the Lender (a) a facility fee, payable on the first day of each month for the preceding month, equal to the average unused principal portion of the maximum loan facility hereunder (i.e., $10,000,000 minus the average daily principal amount of Loans outstanding) times 0.125% per annum; and (b) a closing fee of $50,000 (the "CLOSING FEE"), payable in three installments, with the first such installment of $16,700 being payable on the date on which the initial Advance is made hereunder, the second such installment of $16,700 being payable on June 1, 1999, and the third such installment of $16,600 being payable on June 1, 2000. For interest computation purposes, Borrower's account will be credited for each remittance received on the day that the underlying funds are collected; the day of receipt of funds shall be deemed to be the following Banking Day if the receipt is after the Lender's cutoff time (which is 1:30 p.m. Eastern Standard Time) for receipt of funds or if such day is not a Banking Day. If the outstanding principal amount of the Loans becomes due and payable or if any payment of principal or interest is not timely made, or (unless the Lender notifies the Borrower to the contrary in writing) following the occurrence and during the continuance of any...
INTEREST AND OTHER CHARGES. All interest or other fees or charges which have been imposed, accrued or collected by Lender (including all of its predecessors) under the Loan Documents or in connection with the Loan through the date of this Agreement, and the method of computing the same, were and are proper and agreed to by Borrower, and were properly computed and collected;
INTEREST AND OTHER CHARGES. All interest or other fees or charges which have been imposed, accrued or collected by Agent (including all of its predecessors) under the Loan Documents or in connection with the Loan through the date of this Agreement, and the method of computing the same, were and are proper and agreed to by each Borrower Party, and were properly computed and collected.
INTEREST AND OTHER CHARGES. 33 3.1. Interest......................................................33 3.2. Conversion and Continuation Elections.........................34 3.3. Maximum Interest Rate.........................................35 3.4. Facility Fee..................................................36 3.5. Collateral Management Fee.....................................36 3.6. Additional Accommodation Fee..................................36 3.7. Letter of Credit Fee..........................................36
INTEREST AND OTHER CHARGES. 8.1 The interest rate is a variable interest rate, in fixed relationship to the Repo Rate, which means that the amount of the total interest as well as the amount of the instalments as specified in the Pre-Agreement Statement and Quotation may change if the Repo Rate changes.
8.2 Within 30 (thirty) Business Days from the day that a change in the interest rate takes place We will give You written notice of Your new interest rate.
8.3 Interest will be calculated daily and We are entitled to add any unpaid interest to the outstanding balance of the Principal Debt which at that stage is still payable in terms of this Agreement.
8.4 If You do not make the required payment by the stipulated due date, Your Card Account will be in arrears and You will therefore be in default of this Agreement. The interest charged on overdue amounts will be the same as the interest rate specified in 8.1 above.
8.5 We charge You a monthly service fee at the end of each month, which is reflected on the Pre-Agreement Statement and Quotation. We add this fee to Your outstanding balance and show it on Your statement. Should We decide to increase the monthly service fee, We will inform You. The monthly service fee will not be more than the maximum amount allowed by the NCA.
8.6 We may charge an initiation fee as specified in the Pre-Agreement Statement and Quotation.
8.7 We may also change any fees and charges set out in the Pre-Agreement Statement and Quotation. We will give You 5 (five) Business Days’ notice if We do so. The fees and charges may not be greater than the maximum amount allowed under the NCA.
INTEREST AND OTHER CHARGES. The annual percentage rate of charge (APRC) is the total cost of the loan expressed as an annual percentage. The APRC is provided to help you to compare different offers. The APRC applicable to your loan is [APRC]. The following are included: Interest rate [value in percentage or, where applicable, indication of a reference rate and percentage value of creditor’s spread] [Other components of the APRC] One-off costs (Where applicable) You will need to pay a fee to register the mortgage. [Insert amount of fee where known or basis for calculation.] Recurring costs (Where applicable) This APRC is calculated using assumptions regarding the interest rate. (Where applicable) Because [part of] your loan is a variable interest rate loan, the actual APRC could be different from this APRC if the interest rate for your loan changes. For example, if the interest rate rose to [scenario as described in Part B], the APRC could increase to [insert illustrative APRC corresponding to the scenario]. Where applicable) Please note that this APRC is calculated on the basis that the interest rate remains at the level fixed for the initial period throughout the duration of the contract. (Where applicable) The following costs are not known to the lender and are therefore not included in the APRC: [Costs] (Where applicable) You will need to pay a fee to register the mortgage. Please make sure that you are aware of all other taxes and costs associated with your loan.
INTEREST AND OTHER CHARGES. 17 3.1 Interest.......................................................................................17 3.2 Maximum Interest Rate..........................................................................17 3.3
INTEREST AND OTHER CHARGES. We shall pay you interest on the daily outstanding balance of the Note at the rates as set forth in the applicable Rider. In addition, we shall also pay you on the first day of each month, with respect to the prior calendar month or portion thereof one quarter of one percent (.25%) of the average amount of the Maximum Loan Amount not utilized during the prior month. In no event whatsoever shall the interest rate and other charges charged hereunder exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in the final determination, deem applicable hereto. In the event that a court determines that you have received interest or other charges hereunder in excess of the highest rate applicable hereto, you shall promptly, in your sole discretion, either apply such amount to the Obligations or refund such amount to us and the provisions herein shall be deemed amended to provide for such permissible rate.
