Interest Reset. 1.4.1 The rate of interest stipulated will be subject to revision during the tenure of the Loan and shall be reset, depending on the Cost of fund of the Lender or depending on the directives of Reserve Bank of India from time to time. The said revision, if any, shall be intimated to the Borrower through any of the accepted modes of communication by the Lender.
Interest Reset. The Lender shall have the right to reset the Interest Rate (“Reset Interest Rate”) on each Interest Reset Date in accordance with any of the following options:
Interest Reset. The rate of Interest stipulated will be subject to revision and shall be reset, as per the terms laid down in the Schedule and the Borrower shall thereafter pay interest at such reset rate.
Interest Reset. 1.4.1 The rate of interest stipulated will be subject to revision during the tenure of the Loan and shall be reset, depending on the Cost of fund of the Lender or depending on the directives of Reserve Bank of India from time to time. The said revision, if any, shall be intimated to the Borrower through any of the accepted modes of communication by the Lender. The rate of interest under Fixed Rate Option may be reviewed and re-set by the Bank, from time to time or on directions of Reserve Bank of India. The rate of interest under Fixed Rate Option may be reviewed and re-set by the Bank on completion of each Block Period of 5 years. For this purpose 1st year of each Block Period will commence from 1st of April of the year in which the first disbursement under the Loan is made, irrespective of the month of disbursement, and shall end on 31st March of the following year. After completion of each Block period, the interest rate as re-set will be applicable. If there is any delay in revision/reset in interest rate, appropriate adjustment may be made in the account, effective from 1st April of the year. If the interest rate is not re-set, the prevailing rate shall continue to be applied until it is re-set. If interest rate is not re-set in the year when it is due, it shall be open to Bank to re- set the interest in any subsequent year and, in such an event, the interest rate as re-set, will be applicable from 1st April of the year in which it is re-set for the remaining years of the block period.
Interest Reset. If any Lien granted pursuant to any Collateral Document to secure an Unsecured Loan Advance pursuant to Section 2.15 is subsequently determined to be a preference pursuant to Section 547 of the Bankruptcy Code (or any successor provision or statute) or under any comparable state law, as found in a judgment by a court of competent jurisdiction, (i) interest shall be deemed to have accrued on such Advance at the rate applicable to Unsecured Loan Advances pursuant to clauses (a) and (b) of this Section 2.09, as applicable, from the date on which such Lien was purported to be granted until the date of such determination and (ii) the amount by which (A) interest determined in accordance with clause (i) above with respect to such Advance for such period, exceeds (B) interest previously paid by the Borrower to the Refinancing Lender Parties with respect to such Advance for such period, shall be due and payable by the Borrower on the date of such determination.
Interest Reset i) During the tenure of the Loan, the Bank shall have, at its discretion, the right to change/reset/revise the Interest Rate, including only the External Benchmark Lending Rate/MCLR (as the case be) or only Spread, at such periodicity, as per its policy and/or the guidelines issued by RBI or applicable laws or regulations, if any.
Interest Reset. The rate of interest for the Loan shall be automatically reset on each Interest Reset Date during the currency of the Facility, based on the six (6) months LIBOR prevailing at that time, and the Borrower shall pay interest on the Loan at such reset interest rate from the last date of the month in which the rate of interest is so reset. The Margin over LIBOR, as mentioned in this Agreement, would remain unchanged.
Interest Reset. Commencing with the first Interest Reset Date (as defined below) following the Original Issue Date, and thereafter on each succeeding Interest Reset Date, the rate of interest on this Note shall be reset daily, weekly, monthly, quarterly, semi-annually or annually as specified on the face hereof under "Interest Reset Period"; each such reset rate shall be applicable on and after the Interest Reset Date to which it relates to but not including the next succeeding Interest Reset Date or until the Stated Maturity or, if applicable, any redemption date; provided, however, that the interest rate in effect from the Original Issue Date to the first Interest Reset Date shall be the Initial Interest Rate as specified on the face hereof. Each such reset rate (i) shall be further adjusted as of the Interest Reset Date to which it relates by the addition or subtraction of the Spread, if any, specified on the face hereof, or by the multiplication of the Spread Multiplier, if any, specified on the face hereof and (ii) shall be applicable (as adjusted in accordance with clause (i) of this sentence) on and after such Interest Reset Date to which it relates to but not including the next succeeding Interest Reset Date or Stated Maturity or, if applicable, redemption date, as the case may be. Unless otherwise specified on the face hereof, the Interest Reset Date shall be, if this Note resets daily, each Market Day (as defined below); if this Note resets weekly (unless the Interest Rate Basis on this Note is the Treasury Rate), the Wednesday of each week; if this Note resets weekly and the Interest Rate Basis on this Note is the Treasury Rate, the Tuesday of each week (except as set forth in Section 3.8 below); if this Note resets monthly, the third Wednesday of each month; if this Note resets quarterly, the third Wednesday of March, June, September and December; if this Note resets semi-annually, the third Wednesday of the two months of each year as specified on the face hereof; and if this Note resets annually, the third Wednesday of the one month of each year as specified on the face hereof. If any Interest Reset Date would otherwise be a day that is not a Market Day, the Interest Reset Date shall be postponed to the next day that is a Market Day except that if (a) the rate of interest on this Note will be determined in accordance with the provisions of the heading "Determination of LIBOR" below and (b) such Market Day is in the next succeeding calendar month, such Interes...
Interest Reset. Therateof Interest stipulated willbesubject torevision and shall be reset, as per the terms laid down in the Schedule I, and the Borrower shall thereafter pay interest at such reset rate.
