Interest Rate and Interest. 4.1 Interest of the Loan is calculated daily from the drawdown date and paid monthly on the 20th day of each month. Principal is paid off on maturity date with all due interest.
4.2 The interest rate of the Loan under this Contract is fixed rate per annum of 5.58%, which shall not be adjusted during the valid period.
4.3 If the People’s Bank of China adjusts the lending rate during the term of the Loan and such adjustment is applicable to the Loan, Party B is entitled to calculate interest on the Loan at the interest rate and in the method after the adjustment without informing Party A.
Interest Rate and Interest. 1.1 If the borrowing rate hereunder adopts floating interest rate, the rules for interest rate adjustment after the borrowing becomes overdue will still be executed according to the original method.
1.2 The expiry date for interest is the 20th day of every calendar month if the interest on borrowing is settled on monthly basis; and the 20th day of the last calender month of every quarter if settled on quarterly basis; and on June 20 and December 20 every year if settled on semi-annually basis.
1.3 The first interest period starts from the Borrower’s actual withdrawal date till the first expiry date for interest; the last interest period starts from the next day after end of previous interest period till the final repayment date; and the rest interest periods start from the next day after the end of previous interest period till the next expiry date for interest.
1.4 Interest of the loan = the borrowing principal * daily interest rate * actual days used. If to repay average principal plus interest, the calculating formula is as follows: Total principal plus interest per period = the borrowing principal * interest rate per period * (1+ interest rate per period) number of repaying period / (1+ interest rate per period) number of repaying period - 1
1.5 In case of adjustment of measures by the People’s Bank of China for determining the loan interest rate, then relevant regulations of the People’s Bank of China shall apply for handling, and the Lender will not serve any further notice to the Borrower.
1.6 When signing this Contract, if it is determined that the borrowing rate is executed by floating a certain percentage downwards from relevant loan benchmark interest rate published by the People’s Bank of China or the Loan Prime Rate (LPR) published by National Interbank Funding Center, the Lender is entitled to conduct reassessment every year on the preferential interest rate offered to the Borrower, voluntarily decide to cancel, in whole or in part, the preferential interest rate offered to the Borrower according to national policy, Borrower’s credit status and changes in loan guarantee etc., and inform the Borrower timely.
Interest Rate and Interest. 1.1 The interest rate is determined by the benchmark interest rate plus the floating range, the overdue interest rate shall be determined by the same manner.
1.2 If the interest is settled monthly, the settlement date shall be 20th of each month, if the interest is settled quarterly, the settlement date shall be 20th of the third month, if the interest is settled semi-annually, and the settlement date shall be June 20th and December 20th.
1.3 The first interest period is from the withdraw date to the first settlement date; the last interest period is from the second date of previous settlement to the repayment date. The rest interest periods are from the second date of previous settlement to the next settlement date.
1.4 Loan interest = loan principal × daily interest rate × actual days of use. If equal principal and interest repayment method is adopted, the calculation formula of principal and interest shall be as follows: Total principal and interest of each period = (financing principal × period interest rate × period repayment period)/ ((period interest rate) repayment period -1)
1.5 The new interest rate shall be adopted in case the People's Bank of China decides to adjust the determination method for the interest rate, and the lender is not obligated to notify the borrower.
1.6 If the interest rate on the signing date is lower than the LPR rate, the lender has the right to cancel the interest preference based the evaluation of policy change, credit status, etc. and notify the borrower in time every year.
Interest Rate and Interest. 1.1 Where the loan currency is a foreign currency and priced on a term interest rate or floating overnight interest rate basis, the applicable pricing benchmark on the Interest Rate Determination Date (T day, or the latest workday prior to the Interest Rate Determination Date in the event that it is not a workday) shall be the interest rate value for the T-N workdays corresponding to the pricing benchmark agreed upon herein as displayed on the page of the terminal of Refinitiv or Bloomberg Financial Telecommunications. In case the pricing benchmark on interest rate is negative, it shall be executed at zero. The aforesaid workdays are the local business days of the loan currency pricing benchmark administrators. For applicable term interest rates, the value of N is 2; for applicable floating overnight interest rates, the value of N is 5. Lest there be any doubt that the SOFR term rate agreed upon herein refers to the SOFR term rate issued by the Chicago Mercantile Exchange (CME) as determined by the Alternative Reference Rate Committee (ARRC); the XXXXX term rate agreed upon herein refers to the XXXXX term rate issued by Refinitiv. Any significant change in the pricing benchmark shall be handled based on the market rules in force at the time. Should the Lender then request the Borrower to sign a supplementary agreement on the relevant matters, the Borrower shall cooperate.
1.2 In case the loan interest rate hereunder adopts a floating rate, the rules of interest rate adjustment shall still be implemented in the original method upon the overdue loan.
1.3 For monthly interest settlement, the settlement date shall be the 20th day of each month; for quarterly interest settlement, the settlement date shall be the 20th day of the last month of each quarter; and for semi-annual interest settlement, the settlement date shall be June 20 and December 20 of each year.
1.4 The first interest period is from the date of the Borrower’s actual withdrawal to the first interest settlement date; the last interest accruing period is from the day following the end of the previous interest accruing period to the final repayment date; and the rest of the interest accruing period is from the day following the end of the previous interest accruing period to the next interest settlement date.
1.5 Loan interest = loan principal x daily interest rate x actual days of use. Where the interest rate is determined by Method (3) set forth in Article 3.2 of Part I of this Contract, and the i...
Interest Rate and Interest. 5.1 Interest rate: Interest of the Loan is calculated at the rate of 5.22 % per annum. The interest rate of the Loan shall be finally confirmed by the rate stated on the certificate of indebtedness. If Party B changes the purpose of the Loan, Party A is entitled to charge interest on the misused portion of the Loan at the rate equaling to 2 times of the normal Loan interest rate based on misused days. If Party B fails to repay the Loan before the due date, Party A is entitled to charge interest on the amount in default at the rate equaling to 1.5 times of the normal Loan interest rate. If both events above-mentioned occur simultaneously, Party B should impose penalty based on the breach which is more severe instead of based on both events. If the People’s Bank of China changes the lending rate during the term of the Loan, the interest of the Loan shall be calculated in accordance with the provisions relating to such change.
5.2 Calculation of interest: Interest shall accrue from the drawdown date of the Loan on the basis of the actual amount granted and the actual days elapsed and shall be calculated once a month at the 20th day of each month.
5.3 Payment of interest: Party B shall pay the interest on each interest calculation date. Party A may deduct the interest directly from Party B’s deposit account. If Party B fails to pay the interest by the time prescribed, Party A is entitled to charge compound interest on the interest in default.
Interest Rate and Interest. The interest of the Loan shall be calculated on monthly basis and shall be on the 20th day of the month (or of last month of each quarter).
Interest Rate and Interest. 5.1 Interest rate: Interest of the Loan is calculated at the rate of 5.4 % per annum. The interest rate of the Loan shall be finally confirmed by the rate stated on the certificate of indebtedness. If Party B changes the purpose of the Loan, Party A is entitled to charge interest on the misused portion of the Loan at the rate equaling to 2 times of the normal Loan interest rate based on misused days. If Party B fails to repay the Loan before the due date, Party A is entitled to charge interest on the amount in default at the rate equaling to 1.5 times of the normal Loan interest rate. If both events above-mentioned occur simultaneously, Party B should impose penalty based on the breach which is more severe instead of based on both events. If the People’s Bank of China changes the lending rate during the term of the Loan, the interest of the Loan shall be calculated in accordance with the provisions relating to such change.
Interest Rate and Interest. The interest rate of the Loan shall be 10.5167‰ monthly. During the Term of the Loan, in the event that the interest rate is adjusted, the interest rate shall be subject to the regulations of the State and Hebei Credit Union. The adjustment date of interest rate shall be the first day after the adjustment is published by the People’s Bank of China.
Interest Rate and Interest. 1.1 In case of foreign currency loan, LIBOR shall be interbank offered rate displayed on the Reuters terminal under the page of “LIBO=” for the same currency as the Loan under this Contract two bank business days before the drawdown day or reset day at 11:00am London time; HIBOR shall be interbank offered rate displayed on the Reuters terminal under the page of “HIBO=” for the same currency as the Loan under this Contract two bank business days before the drawdown day or reset day at 11:15am Hong Kong time.
1.2 In case where floating interest rate is used for the Loan under this Contract, the interest rate reset rules shall continue to apply subsequent to overdue in payments.
1.3 The interest of the Loan shall be calculated on monthly basis and shall be on the 20th day of the month; In case of settlement of interest on quarterly basis, the 20th day of last month of each quarter; In case of settlement of interest on half yearly basis, June 20 and December 20 of each year.
1.4 The first interest period is from the day on which the Borrower has drawn down the Loan to the first interest calculation day. The last interest period is the day after the previous interest calculation day to the day of the repayment. The remaining interest period is from the day after the previous interest calculation day to the next interest calculation day.
1.5 In the event where the People’s Bank of China has adjusted the way to determine interest rate, the interest would be calculated based on the applicable rules and regulations of the People’s Bank of China without notifying the Borrower by the Lender.
1.6 In case where the interest rate enforced under this Contract is below the benchmark lending rate as published by the People’s Bank of China, the Lender has the right to re-assess the preferential rates offered to the Borrower each year, and at the Lender’s discretion, based on national policy, credit status of the Borrower and changes in status of guarantees provided for the Loan, to cancel part or all of the preferential interest rate offered to the Borrower and shall notify the Borrower on a timely manner.
Interest Rate and Interest. 4.1 The interest rate of the Loan shall be applied to the method of (2):
