Variation of Interest Rate. (a) Regardless of any other provisions in this Agreement and/or the Letter of Offer, the Bank is entitled to vary at any time:
(i) the interest rate and the manner of calculation of the interest rate; and
(ii) any commission, discount or other banking charges.
(b) Such variation may be made to:
(i) the Base Rate;
(ii) subject to Section 5.4(c), the Margin;
(iii) any other reference rate used in the Letter of Offer; or
(iv) any other rate of interest specified by the Bank; or a combination of any one or more of the methods of calculation of interest, including changing the basis on which the Prescribed Rate or the Default Rate is calculated.
(c) The amended or new Prescribed Rate or commission, discount or banking charges is payable from the date the change take(s) effect. Interest will be re-calculated, if necessary in accordance with the provisions of this Agreement and/or the Letter of Offer.
(d) The Bank will give at least seven (7) calendar days (or such other timeframe as may be prescribed from time to time) prior notice of change of the Prescribed Rate, or the new commission, discount or banking charges to the Borrower but the Borrower’s non-receipt of the notice will not affect or invalidate any change. Notice by the Bank may be given:
(i) in accordance with the “Notice” provisions set out in Section 11 of this Agreement;
(ii) by general advertisement in any form(s) of mass communication; or
(iii) by notice in the Bank’s website and/or placed at the banking hall of the Bank’s branches.
(e) If the Prescribed Rate payable on the Facility is varied and the Facility is repayable in instalments, the Bank may at the Bank’s discretion:
(i) vary the amount of such instalments subject to Sections 5.4 (f) and (g);
(ii) vary the number of instalments subject to Sections 5.4 (f) and (g); or
(iii) vary both.
(f) For any upward or downward adjustment to the Base Rate, the Bank shall revise the amount of the instalments of the Facility. The Bank shall provide the Borrower with particulars of the revised instalment amount at least seven (7) calendar days (or such other timeframe as may be prescribed from time to time) prior to the date the revised instalment comes into effect.
(g) Notwithstanding Section 5.4(f) the Bank may, at its discretion, allow a Borrower to retain the instalment amount upon the Borrower’s specific request. This will result in an extension of the tenure of the Facility and may include new terms and additional cost of borrowing as shall be disc...
Variation of Interest Rate. (i) Notwithstanding the provisions relating to the Prescribed Rate or the rate of interest or the default rate or charges in this Agreement, the Bank reserves the right at any time and from time to time at its absolute discretion shall be entitled by notice in writing to vary the amount, rate, mode or method of calculation of interest, including its Base Lending Rate and the percentage above the Base Lending Rate by placing in one issue of any daily newspaper of the Bank’s choice a general notice of change of the Base Lending Rate addressed to the public generally or by serving a notice in writing on Borrower and such change or variation shall be effective from the date specified in such notice PROVIDED THAT any failure of or delay on the part of the Bank to place the advertisement or to give notice shall not release, exonerate or discharge the Borrower from his obligations and liabilities to pay interest at the new rate from the specified date.
(ii) If the rate of interest chargeable shall be varied in the manner herein provided prior to or after the full disbursement of the Non-Revolving Loan, interest at the new rate shall be calculated on the Non-Revolving Loan herein advanced on the date such amended or new rate of interest is imposed or takes effect.
(iii) If and whenever the rate of interest payable by the Borrower under this Agreement shall be varied in the manner herein this Agreement appearing the Bank may at its absolute discretion by notice in writing make the necessary adjustment consequent upon such variation either:-
(a) by varying the amount of any Instalments; or
(b) by varying the number of any Instalments; or
(c) both.
Variation of Interest Rate. If the rate of interest chargeable shall be varied in the manner herein provided prior to or after the full disbursement/drawdown of the Operating Overdraft Facility, interest at the new rate shall be calculated on the Operating Overdraft Facility herein advanced on the date such amended or new rate of interest is imposed or takes effect.
Variation of Interest Rate. If the rate of interest chargeable shall be varied in the manner herein provided prior to or after the full disbursement/drawdown of the Revolving Term Loan, interest at the new rate shall be calculated on the Revolving Term Loan herein advanced on the date such amended or new rate of interest is imposed or takes effect.
Variation of Interest Rate. Notwithstanding the provisions relating to the rate of interest as hereinbefore provided the Lender shall be entitled at any time and from time to time to vary at its discretion such rate of interest by serving a notice in writing on the Borrower of such its intention and such amended rate of interest shall be payable as from the date specified in the said notice and such notice shall be binding on the Borrower and the Assignor. Service of such notice shall be effected in the same manner as hereinafter provided in Clause 42 hereof. For the avoidance of doubt, it is hereby expressly agreed that the Borrower and the Assignor hereby irrevocably waive the requirement of the service of the said notice if the variation of the interest rate relates solely to the variation in the Base Lending Rate of the Lender.
Variation of Interest Rate. (a) Notwithstanding the provisions relating to the Base Lending Rate and/or the percentage of interest imposed above the Base Lending Rate and/or the commission/discount rates as hereinabove provided, the Lender shall be entitled, from time to time (both before and after judgement or order) and without any requirement for the agreement of the Borrower(s), to vary at the discretion of the Lender the Base Lending Rate and/or such percentage of interest imposed above the Base Lending Rate (including changing entirely the basis upon which the Prescribed Rate and/or the Default Rate is arrived at) and/or the applicable rest period and/or the commission/discount rates in the manner hereinafter set out:-
(i) in respect of the Base Lending Rate by placing in one issue of a daily national newspaper a general notice of change of the Base Lending Rate addressed to the public generally or by ·posting a notice of such variation in any of the Lender's branch premises;
(ii) in respect of the percentage of interest imposed above the Base Lending Rate, or the applicable rest period, and/or the commission/discount rates the Lender has the discretion to vary such rates or the rest period in the same manner set out in subsection (i) above or by serving a notice in writing on the Borrower(s), which written notice may be incorporated into the Lender's bank statements forwarded to the Borrower(s) periodically. PROVIDED ALWAYS that the effective date of the change of the Base Lending Rate and/or the · percentage of interest imposed above the Base Lending Rate and/or the applicable rest period and/or the commission/discount rates shall be the date specified in the advertisement or in the notice, and if notice be given in the Lender's bank statement, the date specified in the bank statement, notwithstanding that such specified date from which the amended Base Lending Rate or percentage of interest above the Base Lending Rate or the rest period or the commission/discount rates are payable or applicable shall be earlier than the date of the advertisement or notice, as the case may be. Notwithstanding the issue of the general notice specified in subclause (i) above, the Lender may at its absolute discretion decide (without any further notice to the Borrower(s)) that such variation shall not apply to the Borrower(s) and the Security Parties to whom a demand under Section 4.03 had been made or legal proceedings had been commenced against the Borrower and/or any of the Security Parties.
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Variation of Interest Rate. Commission ------------------------------------- Each of the Lenders reserve the right to vary from time to time and at its absolute discretion, the interest and/or commission payable by the Borrower to that Lender under this Agreement Provided that such right shall only be exercisable by that Lender upon the occurrence of an Event of Default or where such variation is made necessary as a result of any statutory and/or regulatory requirements imposed on the Borrower and/or the Lenders.
Variation of Interest Rate. (a) Notwithstanding the provisions relating to the rate of interest as hereinbefore provided, BPMB shall be entitled at any time and from time to time to vary at its discretion such rate of interest by serving a notice in writing on the Borrower of its intention and such amended rate of interest shall be payable as from the date specified in the said notice. Service of such notice shall be effected in the same manner as a notice demanding payment of the balance due as hereinafter provided.
(b) If and whenever the rate of interest payable by the Borrower under this Agreement shall be varied in the manner herein appearing, BPMB may at its absolute discretion make the necessary adjustment consequent upon such variation either: -
(i) by varying the amount of the installments; or
(ii) by varying the number of the installments.
Variation of Interest Rate. Notwithstanding the provisions relating to the rate of interest as hereinafter provided in Appendix B and/or Appendix C the Bank shall be entitled at any time and from time to time to vary (which variation may take place by either varying the Prescribed Rate 01 the Base Lending Rate or, if the term Base Lending Rate is no longer used or applicable, such rate of interest by whatsoever term or name called as representing the rate of interest quoted by the Bank for its best customers from time to time, or the Bank's matching cost of funds or otherwise or the margin or spread above the Base Lending Rate or both or in the entire manner or mode of computation or charging or howsoever) at its discretion such rate of interest by serving a notice in writing on the Borrower of such its intention and such amended rate of interest shall be payable as from the date specified in the said notice. Service of such notice shall be effected in the same manner as a notice demanding payment of the balance due as hereinafter provided under Section 8.01 hereof.
Variation of Interest Rate. Except during a Fixed Rate Period, and in any case if there is default in payment by the Borrower, SBS has the right to vary the Ordinary Interest Rate or Default Interest Rate. Details of reviewed rates shall be given to the Borrower by Notice and shall take effect from the date specified in a Notice and if no date is fixed then on the commencement date of the next Interest Rate Period after the date of the Notice. Calculation of Interest: Interest will accrue daily (on the basis of a 365 day year) on the balance of the Loan outstanding at the then applicable Ordinary Interest Rate, and will be charged to the Loan Account on each monthly anniversary of the Date of Advance.
