Interest on Additional Facilities Sample Clauses
The 'Interest on Additional Facilities' clause defines how interest will be calculated and charged on any extra credit or loan facilities provided beyond the original agreement. Typically, this clause specifies the applicable interest rate, the method of calculation (such as daily or monthly accrual), and the timing of interest payments for these additional borrowings. Its core function is to ensure both parties understand the financial obligations associated with accessing extra funds, thereby preventing disputes and clarifying the cost of increased borrowing.
Interest on Additional Facilities. The rate of interest on any Additional Facility and the timing of payment of such interest shall be regulated by the relevant Additional Facility Accession Deed.
Interest on Additional Facilities amend Clause 8.2 (Selection of Interest Periods) to permit interest periods to be any period from 1, 2, 3 or 6 months or such other period of up to 12 months for all Advances as the Majority Lenders under the relevant Facility may agree and in addition and for Advances under a revolving credit facility only, any period between 1 day and 30 days.