Interest Rate and Interest Calculation. 10.3.1 The total interest chargeable on the facility is calculated at a flat rate of 4% per month on the base of the principal loan amount plus capitalized fees (where applicable) subject to the applied loan term. In accordance with globally accepted International Financial Reporting Standards (IFRS), principal and interest repayments on the loan amortization schedule shall be calculated on the basis of an equivalent reducing balance interest rate of up to a maximum of 6.64% subject to the loan term, which shall form the basis of calculating the outstanding amount due in the event of a prepayment.
Interest Rate and Interest Calculation. 4.1. The Loan interest rate is calculated on a daily basis based on the actual withdrawal amount and the outstanding days from the withdrawal date.
4.2. The RMB Loan interest rate is a floating Interest Rate, (upward/down) floating upward to 10%. The executed annual interest rate is 7.722%. The interest rate can be adjusted on monthly basis.
4.3. The Lender shall send the written notice to the Borrower for any adjustment of interest rate within 30 days from the adjusted date.
4.4. The interested rate shall be accordingly adjusted based on any new adjustment regulated by the People's Bank of China.
Interest Rate and Interest Calculation. 3. Unless otherwise agreed in this Agreement, the interest shall be calculated from the date of first drawdown and the actual days of the term of the loan. The actual days of the term of the loan include the first day but exclude the last day. Daily interest rate= monthly rate / 30, monthly interest rate = annual interest rate/ 12.
Interest Rate and Interest Calculation. 8.1 If the applicable interest rate of a savings Account is adjusted by the law during the deposit tenor, interest on the savings Account will not be calculated by reference to the adjusted interest rates in different periods but will be calculated at the rate applicable to savings Account as publicized by the Bank on the interest payment date. Interest will accrue on the principal amount of the deposits but no interest will accrue on such portion of the deposits, the denomination of which is lower than one (1) Yuan. Accrued interest will be credited to a savings Account on an annual basis with the thirtieth (30th) of June as the interest payment date of each year, or on such other basis as may be specified by the Bank in accordance with the law from time to time. If a savings Account is closed before the interest payment date, interest on such Account will be calculated at the rate applicable to savings Account as publicized by the Bank on the date of closure and interest will accrue until the day immediately preceding the date of closure.
8.2 Interest on a Foreign Currency time deposit for an amount below USD 3,000,000 or the foreign currencies equivalent of such amount will accrue at the rate applicable to time deposits of the corresponding tenor as publicized by the Bank on the deposit date. Interest on a Foreign Currency time deposit for an amount of USD 3,000,000 (including USD 3,000,000) or above or the foreign currencies equivalent of such amount will accrue at the rate as agreed between the Bank and the Customer from time to time. If the applicable interest rate of a time deposit is adjusted by the law during the tenor, interest will not be calculated by reference to the adjusted interest rates in different periods.
8.3 Interest on a call deposit will accrue at the rate applicable to call deposits of the corresponding tenor as publicized by the Bank on the date of withdrawal and will be calculated on the basis of the actual period of deposit and paid in arrears together with the principal amount. Under any of the following circumstances, interest on a call deposit will accrue at the rate applicable to savings deposits:
(a) Where the actual period of deposit is shorter than the relevant call period;
(b) Where the deposits are withdrawn without prior notice, interest on the portion so withdrawn will accrue at the rate applicable to savings deposits;
(c) Where prior notice of withdrawal has been given to and received by the Bank, however, the deposit...
Interest Rate and Interest Calculation. The interest rate of the loan is 5.742% per annum. During the effective period of the Contract, the contractual interest rate shall remain unchanged. Interest of the loan shall be calculated from the date the Borrower actually draws down the loan, in accordance with the actual drawdown amount and the number of days elapsed on the basis of 360 days a year. The Borrower adopts the method in sub-clause (1) below in paying interest:
(1) The Borrower shall pay interest once every quarter. March 20, June 20, September 20 and December 20 of every year shall be the interest payment dates. If the last repayment date of the principal of the loan is not an interest payment date, the Borrower must pay all the payable interest on the last repayment date of the principal of the loan.
(2) The Borrower shall pay interest once every month and the 20th of each month shall be the interest payment date. If the last repayment date of the principal of the loan is not an interest payment date, the Borrower must pay all the payable interest on the last repayment date of the principal of the loan.
(3) The Borrower shall pay interest once every month; the corresponding loan disbursement date shall be the interest payment date.
Interest Rate and Interest Calculation. 4.1 Interest rate under this Loan Agreement, shall be 5.31‰ per month and shall be subject to the interest rate provided by People's Bank of China on the disbursement date of the Lender.
4.2 The interest of the loan under this Loan Agreement is to be accrued from the disbursement day and settled monthly (month/season). The settlement date is the 20th day of each month (month/season). All principal and interest shall be paid in full on the day the term of the Loan expires.
4.3 In the case that the Borrower prepays the loan with the prior consent of the Lender the interest shall still be calculated according to the interest rate and actual term of the loan.
4.4 During the term of this Loan Agreement, in the event that People's Bank of China adjusts the relevant regulations and such adjustments are applicable to the loan hereunder, the Lender may implement such regulations of People's Bank of China and Bank of Luoyang without noticing the Borrower.
Interest Rate and Interest Calculation. 10.2.4.1 The total interest chargeable on the facility is calculated at a flat rate of 4% per month on the base of the principal loan amount plus capitalized fees (where applicable) subject to the applied loan term.
Interest Rate and Interest Calculation. The rate of interest (the "Interest Rate") is
(a) with respect to Facility A, the percentage rate per annum, which is the aggregate of (i) the applicable LIBOR and (ii) a margin of 3.00% per annum and
(b) with respect to Facility B, the percentage rate per annum, which is the aggregate of (i) the applicable LIBOR and (ii) the Applicable Margin. The Applicable Margin shall be calculated on a semi-annual basis based on (i) the audited consolidated financial statements and the un-audited consolidated semi-annual statements of the Group and (ii) the Covenant Compliance Certificate for the last 12 month period. The Applicable Margin will be adjusted ten Business Days after receipt of the Covenant Compliance Certificate by the Agent. If the Agent does not receive the necessary financial information for the calculation of the Applicable Margin, the Applicable Margin for the previous Interest Period plus the Default Interest is payable. The Borrower will provide the Agent with all necessary details for such calculation.
Interest Rate and Interest Calculation. Borrower shall pay the interest of the loan to Lender according to the Agreement. The interest rate under this Agreement is 20% higher than the corresponding benchmark interest rate of the People’s Bank of China (6.3% per annum), which is 7.572% per annum.
Interest Rate and Interest Calculation. 3.1. The interest shall be defined during each transaction in accordance with the lender’s interest system policy. Daily interest rate = monthly interest rate/30, monthly interest rate = annual interest rate/12 In case interest defined in the Quota Utilization Application form is fixed interest, this fixed interest rate will be used for this loan. In case interest defined in the Quota Utilization Application form is variable interest, the variable interest rate will be used for this loan, and this rate will be adjusted in accordance with the published rate by the People’s Bank of China.
3.2 The calculation of interest
3.2.1 Regular interest= (the prescribed interest rate under this Loan Contract) x (Loan principle amount) x (actual days of use), where actual days of use is calculated from the day the Loan is issued.
3.2.2 In case the borrower fails in returning the loan on time, the penalty interest calculation depends on amount and actual overdue days. If the currency of loan is RMB, the penalty interest rate for delay of repaying the loan shall be 50% on top of interest rate; if it is foreign currency, the penalty interest rate for delay of repaying the loan shall ____ on top of interest rate from “Quota Utilization Application” form requested.
3.2.3 In case the borrower uses the loan for other purpose than intended, penalty interest calculation depends on amount and actual overdue days. If the currency of loan is RMB, the penalty interest rate for delay of repaying the loan shall be 100% on top of interest rate; if it is foreign currency, the penalty interest rate for delay of repaying the loan shall be _____ on top of interest rate from “Quota Utilization Application” form requested.
3.2.4 In case the interest rate is adjusted by the People’s Bank of China during the period when the borrower is in default activities described in the above two clauses, the penalty interest shall be adjusted accordingly. The effective date shall be the day when the rate is adjusted.
3.3 Interest rate should be calculated and paid on monthly basis. Cut off day is 20th of the each month.
