Interest Rate and Calculation Sample Clauses

Interest Rate and Calculation. 1.1 Except as otherwise provided in this Promissory Note (the “Note”), commencing on the date of this Note and continuing until such time as all principal, interest and other amounts outstanding hereunder are paid in full, interest shall accrue on the Principal Amount outstanding from time to time at an annual rate equal to Twelve (10%) percent simple interest (the “Interest Rate”). 1.2 Interest on this Note shall be calculated on the basis of a three hundred sixty-five (365) day year factor applied to the actual days on which there exists an unpaid principal balance due under this Note.
Sample 1
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Interest Rate and Calculation. The principal balance of the Loan shall be amortized over a period of three (3) years. Interest shall accrue and be payable on the outstanding principal balance at an annual rate of seven percent (7%) (the “Interest Rate”). Interest shall be fully cumulative and shall accrue on a daily basis, based on a 365-day year, and compound monthly on the last day of each month beginning on the last day of the first full month after the Original Issue Date .
Sample 1
Interest Rate and Calculation. (i) With respect to each of Interest Calculation Period determined under Article 6. 1.1 the lending interest rate under this Agreement shall be a floating interest rate and calculated as the sum between floating three-month LIBOR for USD and Interest Margin, of which: (a) With respect to the first Interest Calculation Period, LIBOR shall be the three-month floating London Interbank Offered Rate for USD as indicated by REUTERS "3750" (Telerate Service Page "3750") at 11:00 am (London time) on the Second (2nd) Business Day (which means the day on which the banks in London provide commercial banking services to their corporate clients) prior to the Drawdown Date; and (b) With respect to the second and subsequent Interest Calculation Periods, LIBOR applicable thereto shall be the three-month floating London Interbank Offered Rate for USD as indicated by REUTERS "3750" (Telerate Service Page "3750") at 11:00 am (London time) on the Second (2nd)Business Day (which means the day on which the banks in London provide commercial banking services to their corporate clients) prior to the same-digit date of the Interest Payment Date of the last Interest Calculation Period. (ii) On the ending date of applicable Interest Calculation Period, interest shall be calculated on the basis of three hundred and sixty (360) days per annum multiplied by the actual calculation days, which include the first day of such period but excludes the last day thereof. Interest shall be paid on the last day of each Interest Calculation Period applicable.
Sample 1
Interest Rate and Calculation. The interest rate shall be 35% lower than the prevailing lending interest rate required by the State authority. In the case of the lending interest rate adjustment required by the State authority, the applicable interest rate in the next year will be 35% lower than the adjusted loan interest rate. If the interest rate thus obtained on basis of the calculation as mentioned before (approximated to 0.001, e.g. X.XXX%, the forth digit after the decimal point is negligible) is not dividable by 3, the interest rate shall be adjusted by increment of 0.001% until such it is dividable by 3.
Sample 1
Interest Rate and Calculation. 2.1 The option (2) below shall be applied to determine the interest rate hereunder: (1) RMB fixed interest rate, which shall be implemented based on the (period) ¨ benchmark interest rate ¨ benchmark interest rate floating upward ¨ benchmark interest rate downward on the date ¨ when this Contract becomes effective ¨ when the Loan xxxxxxxxx is initially advanced ¨ when the Loan hereunder is actually advanced (the date when each installment of Loan is advanced, if the Loan is advanced in installments). The interest rate shall not be adjusted within the Term of this Contract. (2) RMB floating interest rate, which is specified below: i. the interest rate shall be one-year (period) ¨ benchmark interest rate ü¨ benchmark interest rate plus a premium of 10% of the benchmark interest rate, which is on the basis of one-year rate on the day of the loan ¨ benchmark interest rate downward on the date ¨ when this Contract becomes effective ¨ when the Loan hereunder is initially advanced ¨ when the Loan hereunder is actually advanced (the date when each installment of Loan is advanced, if the Loan is advanced in installments). ii. if People’s Bank of China adjusts the benchmark interest rate during the Term of this Contract, the option a below shall be applied to determine the adjustment date of the interest rate. From the interest rate adjustment date, Lender has the right to execute the adjusted interest rate according to the corresponding interest rate level announced on the interest rate adjustment date, and the range for increase/decrease of the interest rate shall remain the same. a. the interest rate adjustment date hereunder shall be the interest rate adjustment date of the People’s Bank of China; b. from the date when the Loan is actually advanced (shall be the advancing date of ¨ the first installment ¨ each installment of the Loan when the Loan is advanced in installments), each day at the end of a ¨ month ¨ quarter ¨ half year ¨ year; iii. If after the adjustment of the People’s Bank of China, the interest rate becomes floating or the benchmark interest rate is rescinded, both Parties hereto shall adjust the interest rate of the Loan hereunder through negotiation. But such adjusted interest rate shall not be lower than the then applicable bank interest rate; if both parties fail to reach agreement upon the adjusted interest rate after months from the adjustment date of the People’s Bank of China, Lender is entitled to declare an early maturity of the entire ...
Sample 1
Interest Rate and Calculation. 4.1 The monthly interest rate hereunder is seven point forty seven percent (7.47%) (the interest rate for the mid and long term borrowing is calculated yearly in compliance with the regulations of the People’s Bank of China (the “PBC”)). The Interest shall be accrued per month from the Actual Drawdown Date, and the interest settlement date is the 20th day of every month (the 20th day of every month/ the 20th day in the last month of every quarter). The payment of the principal and the accrued interest shall be paid in full when due. 4.2 If PBC adjusts the interest rate applicable to the interest rate hereunder during the period of the Agreement, the Lender, without any notice to the Borrower, may adjust the interest rate and the calculation hereunder accordingly.
Sample 1
Interest Rate and Calculation. The Company shall pay interest at a rate of 12.0% per annum on the outstanding Principal Amount computed by multiplying the actual number of days in such period by a daily interest rate based on a 360-day year, which such interest shall be due and payable on the Maturity Date.
Sample 1
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Related to Interest Rate and Calculation

  • Interest Rate Determination (a) To the extent required hereunder, each Reference Bank agrees to furnish to the Administrative Agent timely information for the purpose of determining each Eurodollar Rate. If fewer than two Reference Banks furnish such timely information to the Administrative Agent for the purpose of determining any such rate, the Administrative Agent shall determine such interest rate on the basis of timely information furnished by the remaining Reference Bank. (b) The Administrative Agent shall give prompt notice to the applicable Borrower and the Lenders of the applicable interest rate determined by the Administrative Agent for purposes of Section 2.09(a) or (b), and, if applicable, the applicable rate, if any, furnished by each Reference Bank for the purpose of determining the applicable interest rate under Section 2.09(b). (c) If, with respect to any Eurodollar Rate Advances, (i) the Required Lenders notify the Administrative Agent that the Eurodollar Rate for any Interest Period for such Advances will not adequately reflect the cost to such Required Lenders of making, funding or maintaining their respective Eurodollar Rate Advances for such Interest Period, or (ii) the Reference Banks notify the Administrative Agent that adequate and fair means do not exist for ascertaining the applicable interest rate on the basis provided for in the definition of Eurodollar Rate, the Administrative Agent shall forthwith so notify the Borrowers and the Lenders, whereupon (A) each Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance, and (B) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended until the Administrative Agent shall notify the Borrowers and the Lenders that the circumstances causing such suspension no longer exist. (d) If the applicable Borrower shall fail to select the duration of any Interest Period for any Eurodollar Rate Advances in accordance with the provisions contained in the definition of “Interest Period” in Section 1.01, the Administrative Agent will forthwith so notify such Borrower and the Lenders and such Advances will automatically, on the last day of the then existing Interest Period therefor, Convert into Base Rate Advances. (e) On the date on which the aggregate unpaid principal amount of Eurodollar Rate Advances comprising any Borrowing shall be reduced, by payment or prepayment or otherwise, to less than $10,000,000, such Advances shall automatically Convert into Base Rate Advances. (f) Upon the occurrence and during the continuance of any Event of Default, (i) each Eurodollar Rate Advance will automatically, on the last day of the then existing Interest Period therefor, Convert into a Base Rate Advance and (ii) the obligation of the Lenders to make, or to Convert Advances into, Eurodollar Rate Advances shall be suspended.

  • Determination of Rate of Interest and calculation of Interest Amounts The Agent will at or as soon as practicable after each time at which the Rate of Interest is to be determined, determine the Rate of Interest for the relevant Interest Period. The Agent will calculate the amount of interest (the Interest Amount) payable on the Floating Rate Notes for the relevant Interest Period by applying the Rate of Interest to: (A) in the case of Floating Rate Notes which are represented by a Global Note, the aggregate outstanding nominal amount of the Notes represented by such Global Note; or (B) in the case of Floating Rate Notes in definitive form, the Calculation Amount; and, in each case, multiplying such sum by the applicable Day Count Fraction, and rounding the resultant figure to the nearest sub-unit of the relevant Specified Currency, half of any such sub-unit being rounded upwards or otherwise in accordance with applicable market convention. Where the Specified Denomination of a Floating Rate Note in definitive form is a multiple of the Calculation Amount, the Interest Amount payable in respect of such Note shall be the product of the amounts (determined in the manner provided above) for the Calculation Amount and the amount by which the Calculation Amount is multiplied to reach the Specified Denomination, without any further rounding.

  • Interest Rates; LIBOR Notification The interest rate on Eurodollar Loans is determined by reference to the LIBO Rate, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017, the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate is no longer available or in certain other circumstances as set forth in Section 2.14(c) of this Agreement, such Section 2.14(c) provides a mechanism for determining an alternative rate of interest. The Administrative Agent will notify the Borrower, pursuant to Section 2.14, in advance of any change to the reference rate upon which the interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of “LIBO Rate” or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate, as it may or may not be adjusted pursuant to Section 2.14(c), will be similar to, or produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability.

  • Interest Rates Payments and Calculations (a) Interest Rate. Except as set forth in Section 2.3(b), or as ------------- specified to the contrary in any Loan Document, any Advances under this Exim Agreement shall bear interest, on the average daily balance, at a rate equal to the Prime Rate per annum.

  • Interest Calculation Interest on the outstanding principal balance of the Loan shall be calculated by multiplying (a) the actual number of days elapsed in the period for which the calculation is being made by (b) a daily rate based on a three hundred sixty (360) day year by (c) the outstanding principal balance.

  • Interest Rate Not Ascertainable If Agent shall determine that on any date for determining LIBOR, due to any circumstance affecting the London interbank market, adequate and fair means do not exist for ascertaining such rate on the basis provided herein, then Agent shall immediately notify Borrowers of such determination. Until Agent notifies Borrowers that such circumstance no longer exists, the obligation of Lenders to make LIBOR Loans shall be suspended, and no further Loans may be converted into or continued as LIBOR Loans.

  • Determination of Interest Rate Basis The Calculation Agent shall determine the rate derived from each Interest Rate Basis in accordance with the following provisions.

  • Interest Calculations Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made. Interest hereunder will be paid to the Person in whose name this Note is registered on the records of the Company regarding registration and transfers of this Note (the “Note Register”).

  • Notice of Interest Period and Interest Rate Promptly after receipt of a Notice of Borrowing pursuant to Section 2.02(a), a notice of Conversion pursuant to Section 2.09 or a notice of selection of an Interest Period pursuant to the definition of “Interest Period”, the Administrative Agent shall give notice to the Borrower and each Lender of the applicable Interest Period and the applicable interest rate determined by the Administrative Agent for purposes of clause (a)(i) or (a)(ii) above.

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