Common use of Settlement of Interest Clause in Contracts

Settlement of Interest. The interest of the loan hereunder shall be settled on quarterly basis, and the interest settlement date shall be the 20th day of the last month in each quarter. The Borrower shall pay the interest on each interest settlement date. Where the last repayment date of the principal does not fall on an interest payment date, the unpaid interest shall be settled on the principal repayment date (interest rate per day = interest rate per month/30).

Settlement of Interest. The loan interest of the loan hereunder under this Contract shall be settled on quarterly basis, and the monthly (monthly / quarterly). The interest settlement date shall be the 20th day of each month (month / month by the last month in end of each quarter). The Borrower shall pay the interest on each interest settlement date. Where If the last repayment date of the loan principal does not fall on an interest payment settlement date, the unpaid interest shall be settled on repaid together with the principal repayment date (daily interest rate per day = monthly interest rate per month/30rate/30).