Repayment and Interest. The term of this agreement is 5 years from July 1,2023 to June 30,2028. During the debt period, Party B may irregularly repay the principal. Party A and Party B shall issue the settlement statement upon each repayment. The annual interest rate of the loan is 5.5%, counted as 30 days per month. Party B shall settle the interest generated before December 31 each year during the repayment period. The interest shall be reduced along with the reduced principal until the completion of the repayment of principal.
Repayment and Interest. The Borrower agrees to repay the loan ON DEMAND and to pay interest at the rate on the rests specified under schedule II of this agreement, with the rests mentioned therein. The Borrower further agrees as follows:
a) On account of upward revision of interest or for any other reason, the Bank will have absolute liberty and discretion to revise the applicable interest rate and in that event the Borrower shall be liable to pay such revised interest rate. In the event of any amendment/ alteration to the effective interest rate on account of the above reasons, then the same shall be deemed to have been substituted here in this Agreement.
b) Notwithstanding the above, the Borrower agrees that the Rate of Interest may increase on account of the directives of Reserve Bank of India and in that case the Borrower agrees to pay such revised rate of interest. The Borrower also agrees that if such revised rate of interest is not acceptable, the Borrower shall make repayment of entire amount outstanding in the loan account with the interest, immediately.
c) In the event of the account being classified as Non Performing Asset (NPA), the Borrower will be liable to pay interest at an enhanced rate of 2% over and above the then effective rate of interest with monthly rests or such other rate fixed by the Bank from time to time.
d) In the „event of default‟ for reasons other than the account becoming NPA, the Borrower will be liable to pay penal interest @ 2% or such other rates fixed by the Bank from time to time, over and above the contractual rate of interest. Provided further that the charging or payment of such enhanced/ additional/ penal rate of interest shall be without prejudice to other rights and remedies of the Bank
e) Interest specified in the Sanction Letter or any other provision in the Transaction Documents will be computed from the respective date of drawal and shall become payable upon the footing of compound interest with monthly rests or such other rests as may be prescribed by the Bank from time to time.
f) Interest on the outstanding amounts under the Facilities / discount or other charges when debited to the relevant Account by the Bank, shall be calculated on the daily debit balance of such Account. In the event of remittance being made into the account after the normal business hours (i.e. beyond 4 hours from the commencement of business hours), but within the extended business hours, the Bank will have the discretion to value date such remittance on t...
Repayment and Interest. Each Swing Loan is due and payable on the earliest to occur of (A) seven (7) Business Days after the date of the making of such Swing Loan, (B) the date of the next borrowing under the Commitments that is not a Swing Loan, and (C) the Revolving Loan Maturity Date. Except as otherwise provided in Section 3.1(b), Swing Loans shall bear interest at the Swing Loan Rate.
Repayment and Interest. All sums advanced under the Loan shall be evidenced by the Note and shall be repaid with interest in accordance with the provisions of the Note.
Repayment and Interest. 6.1 The Lender may in its sole discretion:
(a) during the Term, on the date falling on each anniversary of the First Disbursement Date; or
(b) upon the occurrence of a Liquidity Event, elect to redeem, by way of delivery of a written notice to the Borrower substantially in the form set out in Schedule 2 (“Redemption Notice”) the full sum or part of the Convertible Loan, or any part thereof that remains outstanding as at the date of the Redemption Notice, together with all interest accrued thereon, owing to the Lender (“Redemption”). Upon receipt of the Redemption Notice by the Borrower, the Borrower shall repay such amount of the Convertible Loan (together with all interest accured thereon) specified in the Redemption Notice to the Lender within three (3) months from the date of the Redemption Notice.
6.2 Subject to the terms of the Agreement, the Borrower shall not have the right to voluntarily prepay all or any portion of the Convertible Loan, together with all accrued and unpaid interest, until the expiry of the Term.
6.3 Interest shall accrue on the outstanding principal amount of the Convertible Loan (“Interest”) at an interest rate of [*****] per annum (“Interest Rate”), commencing from:
(a) the First Disbursement Date, in respect of the First Drawing, until the date of full repayment of the Convertible Loan (both dates inclusive); and
(b) the Second Disbursement Date, in respect of the Second Drawing, until the date of full repayment of the Convertible Loan (both dates inclusive), and shall be payable by the Borrower to the Lender as follows:
(i) Interest accrued in respect of the First Drawing for the period commencing from the First Disbursement Date until the date falling one (1) year from the First Disbursement Date (both dates inclusive) (“Year 1 Interest I”) shall be deducted directly from the First Drawing to be disbursed by the Lender on the First Disbursement Date;
(ii) Interest accured in respect of the Second Drawing for the period commencing from the Second Disbursement Date until the date falling one (1) year from the First Disbursement Date (both dates inclusive) (“Year 1 Interest II”) shall be deducted directly from the Second Drawing to be disbursed by the Lender on the Second Disbursement Date; and
(iii) Interest accrued in respect of the First Drawing and/or the Second Drawing for any subsequent period(s) commencing immediately after the first (1st) anniversary of the First Disbursement Date (i.e. other than those set out in Clause...
Repayment and Interest. All sums advanced under the Loan shall be evidenced by the Note and shall be repaid with interest in accordance with the Note and any attachments thereto, payable in accordance with the schedule listed on Exhibit E to this Agreement, as such Exhibit E may be amended and supplemented from time to time hereafter.
Repayment and Interest. A. The JPA shall repay C/CAG the Loan Amount (or the portion of the Loan Amount provided by C/CAG to the JPA), plus accrued interest as described in this Section 2 (together, “Loan Balance”), with toll revenues from the Project. The JPA may elect to defer repayment until the Project begins operations and receives toll revenue, currently estimated to commence in 2022. The Loan Balance and accrued interest will be repaid on a monthly basis and no later than five years after the Project begins operations and receives toll revenue unless otherwise agreed by the Parties.
B. The Parties agree that repayment of the Loan Balance will be subordinated to (1) the operations and maintenance costs for the Project and the JPA and (2) repayment of interest on the Capital Loan (which amount may differ from that previously authorized). Repayment of all three loans (the Capital Loan, Authority Operating Loan, and C/CAG Operating Loan) will be repaid proportionally, on a parity basis, once the Project begins operations.
C. Interest on amounts advanced to the JPA under this Agreement will be compounded monthly on the first business day of every month based on the net earnings rate on the San Mateo County Investment Pool Fund (“Monthly Earnings Rate”), as published by the San Mateo County Treasurer’s Office for the applicable month on its website (xxxx://xxx.xxxxxxxxxxxxxxxxxxxxxxx.xxx/investmentReports.html). The interest on any outstanding amount shall be calculated according to the sum of the following calculation for each respective month: Principal x Monthly Earnings Rate x (No. of Days in Month / No. of Days in Year) Where “Principal” is the outstanding Loan Balance plus all accrued interest as of the beginning of the applicable month; “No. of Days in Month” is the number of days in the applicable calendar month; and “No. of Days in Year” is 365, except in leap years, in which the number of days in the year is 366. Loan Balance will be tracked on a form similar to that attached as Exhibit B.
D. Repayment of the Loan Balance may be made by wire, ACH, or sent to: City/County Association of Governments of San Mateo County 000 Xxxxxx Xxxxxx, 0xx Xxxxx Xxxxxxx Xxxx, XX 00000 Attn: Xxxxx Xxxx, Executive Director
Repayment and Interest. (a) Interest on the unpaid principal amount of each advance shall accrue from the date of the advance until repaid in full at the fixed rate of three percent per annum, for the actual number of days elapsed.
(b) No interest or principal shall be due and payable until a period of five years, calculated from the first day of the month following the month in which the advance is made, has elapsed ("Grace Period").
(c) The principal amount of each advance shall be repaid in twenty equal quarterly installments in arrears, commencing on the last day of the first three calendar months after the end of the Grace Period.
(d) Accrued interest during the Grace Period shall be repaid in 20 equal installments, together with the interest on the outstanding principal amount of each advance, on the same date as the repayment of the principal amount of the advance.
Repayment and Interest. The Landlord shall repay the Advances to the Tenant as set forth in this Amendment. Interest shall accrue on each Advance at the rate of nine percent (9%) per annum from the date of the Advance until repaid. For purposes of simplicity, provided all Advances are advanced on the Advance Dates described above, Landlord and Tenant agree that no interest shall accrue on the Advances until October 1, 2001, at which time interest shall commence to accrue on the full $2,000,000 of the Advances. If the Advances are not all made on such Advance Dates the interest shall be calculated from the actual date of the Advance. The total amount of the Advances made by the Tenant plus the interest accrued thereon from time to time, less the amount of any repayments thereof actually received by the Tenant in accordance with this Amendment and less the amount of any rent offsets actually realized by the Tenant as herein permitted are herein referred to as the "Outstanding Advances."
Repayment and Interest. 5.1 The Loan shall be repaid by the Borrower by way of Instalments on the Due Dates and in the amounts stipulated in the Sanction Letter, if a Due Date falls on a non-business day, in which banks are not open for business in United Arab Emirates, the Instalment shall be repayable on the immediate preceding business day.
5.2 The Borrower shall pay interest on the outstanding amount of the Loan as per the Interest Rate as detailed in the Sanction Letter until the Loan is repaid in full.
5.3 The Borrower shall prepay all or part of the Loan Principal Amount under this Agreement on the Due Dates of the Instalments as specified in the Sanction Letter or the schedule enclosed to this Agreement in minimum amounts of one Instalment and integral multiples of one Instalment (or the balance outstanding if less). Such repayments will be applied to the Repayment Schedule in inverse order of maturities, and the Borrower shall pay the Bank the Early Settlement Fees stated in the Sanction Letter.
5.4 Without prejudice to the Bank’s other rights stipulated under this Agreement and the Applicable Laws, in case of a default by the Borrower to pay any Instalment on its Due Date, the Borrower hereby acknowledges and agrees to pay AED 500 per instalment as a penalty, over the Interest Rate from the date such Instalment is due until payment of the same is made in full.
5.5 All payments made or to be made herein shall be free and clear of any present or future taxes, withholdings, levies, duties or other deductions of whatsoever nature.
