Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon the occurrence of an Event of Default (for so long as such event remains uncured). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. Each Loan shall bear interest on the outstanding principal amount thereof at a rate of interest designated from time to time by the Lender. Such rate shall be based upon the Lender’s cost of funds and in any event shall be no greater than the Average Prime Rate published from time to time in the Money Rate Section of The Wall Street Journal plus 5% per annum. Such interest shall be payable on the last day of the Interest Period applicable to such Loan.
Interest Rate and Payment of Interest. 1. Subject to the negotiations between the Entrustor and the Borrower, the interest shall accrue on the Borrowing at the interest rate set forth with Item (1) below (the “Interest Rate”):
(1) a fixed rate equal to 0% per annum. In the event that prior to the date of each actual disbursement after the disbursement date recorded under Article 4 above, there is any adjustment to the PRC base interest rate, the fixe interest rate shall be adjusted accordingly to be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement plus/minus [NA]%, or in other words, the actual interest rate applicable to the Borrowing shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement of the Borrowing multiplied by a coefficient of [N/A]. The Tenor shall not be adjusted due to any adjustment to the PRC base interest rate.
(2) a floating rate, which shall be determined once every [NA] (month(s)/quarter(s)/half a year (each such period an “Interest Period”)), where, the interest rate per annum shall be the PRC base interest rate for one-year loans effective on the date of actual disbursement plus/minus [NA]%, or in other words, the actual interest rate applicable to the Borrowing shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement of the Borrowing multiplied by a coefficient of [N/A]. The interest rate for the initial Interest Period shall be equal to the PRC base interest rate for one-year loans effective on the date of actual disbursement multiplied by the coefficient specified in the preceding sentence; and on the day falling (months/quarters/half a year) after the date of actual disbursement, the interest rate for the next Interest Period shall be determined by multiplying the then effective PRC base interest rate of the corresponding tier and the coefficient specified in the preceding sentence. In case of any adjustment to the PRC base interest rate during the Tenor, no notice will be given to the Borrower.
(3) any other interest rate: [NA].
2. Where the Borrowing is disbursed by installments, the interest rate applicable to each installment shall be determined by taking the PRC base interest rate for one-year loans effective on the date of actual disbursement of such installment as the standard for calculation.
3. In the event that the PRC base interest rate is cancelled, the Entrustor hereby authorizes the Lender to redetermi...
Interest Rate and Payment of Interest. 3.1 Basic regulations on determining the interest rate
3.1.1 The annual interest rate (simple interest) of the loan under this contract shall be agreed by both parties in the Application for the Use of Quota after negotiation each time the quota is used. If the annual interest rate value is determined according to the pricing benchmark, the annual interest rate value shall be calculated according to the pricing benchmark agreed in the Application for the Use of Quota plus (minus) points (1 basis point is 0.01 percent, and 1 percentage point is 100 basis points).
3.1.2 If both parties agree to apply the fixed interest rate in the Application for Use of Quota, and the specific value is recorded in the fixed interest rate value field, The specific interest rate of each loan shall be subject to the value recorded in the Fixed Interest Rate Value field of the Application for the Use of the Quota (where the loan currency is RMB, such specific value shall be determined on the basis of the specific value of the pricing benchmark applicable on the applicable date of the pricing benchmark agreed in the Application for the Use of the Quota (hereinafter referred to as “the pricing benchmark value”) and according to the plus (minus) point value agreed in the Application for the Use of the Quota). If no specific value is recorded in the Fixed Interest Rate Value field, the specific interest rate of each loan shall be determined based on the applicable pricing benchmark value on the applicable date of the pricing benchmark agreed in the Application for the Use of Quota and according to the plus (minus) point value agreed in the Application for the Use of Quota. If both parties agree to apply the floating interest rate in the Application for the Use of Quota, the specific interest rate of each loan shall be determined on the basis of the pricing benchmark value applicable to the applicable date of the pricing benchmark agreed in the Application for the Use of Quota, according to the plus (minus) point value, interest rate floating rules, interest rate floating cycle, interest rate floating cycle unit and the floating start date of a specific date (if necessary) agreed in the Application for the Use of Quota.
3.1.3 If the currency is RMB, daily interest rate = monthly interest rate/30, monthly interest rate = annual interest rate/12; if the currency is HKD, GBP and AUD, daily interest rate = annual interest rate/365; if the currency is USD, Euro, JPN and other foreign curr...
Interest Rate and Payment of Interest. 3.1 Basic regulations on determining the interest rate
3.1.1 The interest rate should be agreed by both parties in the Application for Use of Line of Credit through negotiations in each use of the line of credit. Unless any specific interest rate is agreed by both parties in the Application for Use of Line of Credit, the specific interest rate of each loan should be determined in accordance with the type of benchmark interest rate, applicable date of benchmark interest rate, fluctuation extent/increase (decrease) value of interest rate, interest rate fluctuation rules, interest rate fluctuation cycle, interest rate fluctuation cycle unit and specific beginning date of fluctuation (if necessary) agreed in the corresponding Application for Use of Line of Credit.
3.1.2 Type and definition of “benchmark interest rate”: (1) “Benchmark interest rate of the People’s Bank” refers to the benchmark interest rate of RMB loan of financial institutions published by the People’s Bank of China; (2) LPR quotation of Bank of Communications refers to the quotation for benchmark interest rate of loan published by Bank of Communications Co., Ltd. on its official website; (3) LPR mean interest rate refers to the benchmark interest rate of loan published by the National Inter-bank Funding Center.
3.1.3 If the currency is RMB, daily interest rate = monthly interest rate/30, monthly interest rate = annual interest rate/12; if the currency is HKD, GBP and AUD, daily interest rate = annual interest rate/365; if the currency is USD, Euro, JPN and other foreign currencies accepted by the loaner, daily interest rate = annual interest rate/360.
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 5% (“Interest Rate”), payable at the Maturity Date. Interest shall be calculated on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. As agreed between the Entrustor and the Borrower, interest shall accrue on the Borrowing at the interest rate as follows (the “Interest Rate”):
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 0% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon (i) the occurrence of an Event of Default (for so long as such event remains uncured), or (ii) upon the occurrence of a Registration Event (but only until the condition or event causing the Registration Event has been cured or the Holder is able to resell the Common Shares issuable upon conversion of this Note in accordance with Rule 144 under the Securities Act). Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. Interest shall accrue on the outstanding Principal balance hereof at an annual rate equal to 5% (“Interest Rate”), which Interest Rate shall increase to an annual rate of 18% upon an Event of Default for so long as it remains uncured. In the event that such Event of Default is subsequently cured (and no other Event of Default then exists, including, without limitation, for the Company’s failure to pay such Interest at the default rate), the adjustment referred to in the preceding sentence shall cease to be effective as of the calendar day immediately following the date of such cure; provided that the interest as calculated and unpaid at such rate during the continuance of such Event of Default shall continue to apply to the extent relating to the days after the occurrence of such Event of Default through and including the date of such cure of such Event of Default. Interest shall be calculated based on a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law.
Interest Rate and Payment of Interest. Each Loan shall bear interest on the outstanding principal amount thereof at a rate of interest designated from time to time by the Lender. Such rate shall be based upon the Lender’s cost of funds and shall in no event be greater than the Three Month London Interbank Offered Rate (LIBOR) at the time of the Loan plus .75% per annum. Such interest shall be payable on the last day of the Interest Period applicable to such Loan.
