Settlement of Interest. (1) If a fixed interest rate is applied to the loan, the interest shall be calculated and settled at the agreed interest rate. If a floating interest rate is applied to the loan, the interest shall be calculated at such interest rate as then determined at each floating period; if the interest rate changes several times within one interest settlement period, the interest accrued at each floating period shall be first calculated and then added up on the interest settlement date as the interest accrued within such interest settlement period. (2) The interest shall be settled at i as follows i. The interest shall be settled on a monthly basis for the loan hereunder and the interest settlement date shall be the 20th of every month. ii. The interest shall be settled on a seasonly basis for the loan hereunder and the interest settlement date shall be the 20th of every season ending month. iii. Others: [intentionally left blank].
Appears in 3 contracts
Samples: Renminbi Capital Loan Contract (Origin Agritech LTD), Renminbi Capital Loan Contract (Origin Agritech LTD), Renminbi Capital Loan Contract (Origin Agritech LTD)
