Loan Interest definition

Loan Interest. The loan interest rate is shown on the Policy Data Page. Interest is charged daily and payable at the end of each policy year. Unpaid interest will be added to the existing Indebtedness as of the due date and will be charged interest at the same rate as the rest of the loan.

Loan Interest. The annual Policy Loan interest rate is shown in the Schedule. If a loan is made, interest is due and payable at the end of the Policy year. Thereafter, interest on the loan amount is due annually at the end of each Policy year until the loan is repaid. If interest is not paid when due, it is added to the Policy Loan. If the Policy Loan amount and any accrued interest equals or exceeds the Cash Surrender Value, a Premium sufficient to keep this Policy in force must be paid as provided in the Grace Period Provision.

Loan Interest. Loan interest will accrue on a daily basis at an annual rate of 3%. Loan interest must be paid in full at least annually. The interest must be paid directly to Aetna by the Participant. If interest is not paid when due, the entire loan amount plus interest will be treated as a surrender under the terms of the Contract.

Examples of Loan Interest in a sentence

• The Term Loan Interest Rate will float and change on the day the Prime Rate changes from time to time.

• The principal balance of each Term Loan Advance shall bear interest thereon from such Advance Date at the Term Loan Interest Rate based on a year consisting of 360 days, with interest computed daily based on the actual number of days elapsed.

• Interest Payment Date (s):Up to 10 Business Days after the corresponding Loan Interest Payment Date (1.2.20.) and subject to the actual receipt by the Issuer of the relevant payment in relation to the Loan from the Lending Company1.1.13.Redemption Date (s):Up to 10 Business Days after the corresponding Loan Repayment Date (1.2.20.) and subject to the actual receipt by the Issuer of the relevant payment in relation to the Loan from the Lending Company1.1.14.

• The Term Loan Interest Rate will float and change on the day the prime rate changes from time to time.

• The Interest payable on any Interest Payment Date in respect of each Note is as follows: Loan Interest Rate X Series Specific Loan Principal Amount Outstanding X Day Count Where:Series Specific Loan Principal Amount Outstanding, is the principal amount of the SeriesSpecific Loans which is scheduled to be outstanding (even if the principal amount is redeemed later) on the day immediately before the Loan Interest Payment Date which is immediately before the Interest Payment Date.

More Definitions of Loan Interest

Loan Interest shall have the meaning set forth in Section 7.26.1 hereof.

Loan Interest. The interest charged on any Policy loan is at an effective annual rate, shown on the Policy Schedule, compounded yearly on the Policy Anniversary. Interest payments are payable in arrears on each Policy Anniversary. If loan interest is not paid when due, it is added to the loan principle and will bear interest at the applicable effective annual rate until paid. Interest, as it accrues from day to day, is considered part of the Policy Debt.

Loan Interest the interest which a Borrower is required to pay to the Lender in accordance with the Loan Agreement.

Loan Interest. Interest will accrue daily and is payable in arrears at the annual rate equal to the Minimum Guaranteed Interest Rate for Fixed Options plus 0.25%. Interest not paid when due will be added to the loan principal and bear interest at the same rate. Loan Account – When a loan is taken, an amount equal to the loan is transferred out of the Accumulated Value in the Investment Options into the Loan Account to secure the loan. Such transfers will be done on a pro rata basis from your Accumulated Value in the Investment Options, unless you request a specific allocation. We will credit interest to the Loan Account as described in the Accumulated Value section. On each policy anniversary, if the amount in the Loan Account exceeds Policy Debt, the excess will be transferred from the Loan Account to the Investment Options according to your most recent allocation instructions for allocation of premium. If Policy Debt exceeds the amount in the Loan Account, the excess will be transferred from the Investment Options on a proportionate basis to the Loan Account. Loan Repayment – Loans may be repaid at any time prior to lapse of this policy. An amount equal to the portion of any loan repaid, but not more than the amount in the Loan Account, will be transferred from the Loan Account to the Investment Options according to your most recent instructions for allocation of premium. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts according to your most recent instructions for allocation of premium. Any payment we receive from you while you have a loan will be first considered a loan repayment, unless you tell us in writing it is a premium payment.

Loan Interest. For all Advances for any Yield Period, interest on such Advances at a rate equal to the Yield on such Advances for each day in such Yield Period and calculated on the basis of the actual number of days in such Yield Period and a 360-day year.

Loan Interest. The loan interest rate is 3.9% per year. Interest is charged daily and payable at the end of each policy year. Unpaid interest will be added to the existing Indebtedness as of the due date and will be charged interest at the same rate as the rest of the loan.

Loan Interest is defined in Section 2.1(a).