Interest Determinations Clause Samples
The Interest Determinations clause defines how interest rates are calculated and applied to amounts owed under an agreement. Typically, it specifies the reference rate (such as a central bank rate or LIBOR), the method for calculating interest (simple or compound), and the frequency of adjustments or payments. This clause ensures both parties understand how interest will accrue on outstanding balances, thereby providing transparency and reducing the risk of disputes over interest calculations.
Interest Determinations. Promptly after the determination of any interest rate provided for herein or any change therein, the Facility Agent shall give notice thereof to the Lenders and to the Company. Each determination by the Facility Agent of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.
Interest Determinations. Promptly after the determination of any interest rate provided for herein or any change therein, the Lender shall give notice thereof to the Borrower. Each determination by the Lender of an interest rate hereunder shall be conclusive and binding for all purposes, absent manifest error.
Interest Determinations. (a) Interest on all unpaid principal of the Loans that is outstanding from time to time during the period from (and including) the Effective Date until (but excluding) the date upon which all such principal is repaid in full shall accrue at the Interest Rate.
(b) Accrued interest on the Loans shall be payable on each Interest Payment Date. The amount of such accrued interest that is payable on each particular Interest Payment Date shall be determined by Lender, and shall be calculated (i) with respect to the weighted average principal amount of each Loan that was outstanding during the immediately preceding Interest Period, and (ii) based on the actual number of days elapsed during the immediately preceding Interest Period, using a daily interest rate derived using the convention of a 360-day year.
(c) Notwithstanding anything herein to the contrary, any principal and, to the extent permitted by law, interest or other amounts due hereunder not paid to ▇▇▇▇▇▇ when due (whether upon the Maturity Date or otherwise) shall bear interest at a rate per annum (computed as aforesaid) equal to the Default Rate.
Interest Determinations. All computations of interest and fees shall be made by Lender on the basis of a year of three hundred sixty five (365) days or three hundred sixty six (366) days, as the case may be, fixed for the actual number of days (including the first day but excluding the last day) occurring in the period for which such interest or fees are payable.