Common use of The interest of the Facility Clause in Contracts

The interest of the Facility. When the Borrower transfers its equity interest in the Borrower Company to the Lender or to the person appointed by the Lender, if the transfer price is equal to or lower than the principal of the Facility under this Agreement, the Facility shall be deemed as a loan without interest. However, if the transfer price is higher than the principal of the loan under this Agreement, the part exceeding the principal shall be deemed as the interest of the Facility under this Agreement and shall be repaid by the Borrower to the Lender.