Interest Rate. The rate of interest applicable to the Loan or the relevant part thereof for each Interest Period shall be a floating rate per annum determined by the Lender to be aggregate of applicable EURIBOR plus Margin. Each applicable floating rate shall be unchangeable during that Interest Period commencing from the date on which such floating rate is determined. “EURIBOR” means European Interbank Offered Rate, i.e. the annual interest rate published by the European Banking Federation for a period equal or comparable to six (6) Months at or about 11:00 am (Brussels time) on the Reuters screen page 248 (or any other page or services for the purpose of displaying the EURIBOR which replaces it permanently) on the Quotation Day on which deposits in EUR are offered in the European Interbank market, and if any such rate is below zero, EURIBOR shall be deemed to be zero. If the EURIBOR for any Interest Period is quoted but temporarily not published by the above mentioned system, EURIBOR shall be the rate published by any services for the purpose of displaying the EURIBOR for a period of six(6) Months. If the EURIBOR for any Interest Period is not quoted as set forth above, XXXXXXX shall be equal to the arithmetic average (rounded upwards to four decimal places) of the rates of interest of the relevant Interest Period at which deposits in EUR are offered in the European Interbank market at or about 11:00 am (Brussels time) on the Quotation Day by the Reference Banks. “Quotation Day” means, for the purpose of fixing the rate of interest, the second (2nd) Business Days prior to:
Interest Rate. 4.2 Calculation and payment of interest
Interest Rate