Common use of Notification of Interest and Interest Rate Clause in Contracts

Notification of Interest and Interest Rate. The Bank shall notify the Borrower promptly of the duration of each Interest Period and of each rate of interest determined by it under this Clause 3 without prejudice to the right of the Bank to make determinations at its sole discretion. However, omission of the Bank to make such notification (without the application of the Borrower) will not constitute and will not be interpreted as if to constitute a breach of obligation of the Bank except in case of wilful misconduct.

Notification of Interest and Interest Rate. The Bank shall notify the Borrower promptly of the duration of each Interest Period and of each rate of interest determined by it under this Clause 3 without prejudice to the right of the Bank to make determinations at its sole discretion. However, omission of the Bank to make such notification (without the application of the Borrower) will not constitute and will not be interpreted as if to constitute a breach of obligation of the Bank except in case of wilful willful misconduct.

Notification of Interest and Interest Rate. The Bank shall notify the Borrower Borrowers promptly of the duration of each Interest Period and of each rate of interest determined by it under this Clause 3 without prejudice to the right of the Bank to make determinations at its sole discretion. However, omission of the Bank to make such notification (without the application of the BorrowerBorrowers) will not constitute and will not be interpreted as if to constitute a breach of obligation of the Bank except in case of wilful willful misconduct.

Notification of Interest and Interest Rate. The Bank Lender shall notify the Borrower promptly of the duration of each Interest Period and of each rate of interest determined by it under this Clause 3 without prejudice to the right of the Bank Lender to make determinations at its sole discretion. However, omission of the Bank Lender to make such notification (without the application of the Borrower) will not constitute and will not be interpreted as if to constitute a breach of obligation of the Bank Lender except in case of wilful misconduct.