Borrowing Rates Sample Clauses
Borrowing Rates. The first sentence of the section of the Letter Agreement entitled "Borrowing Rates" is hereby amended to read in its entirety as follows:
Borrowing Rates. The borrowing rate is a floating rate, starting from the actual drawdown date (the first actual drawdown date in the case of tranches), and repriced every 12 months on a floating cycle. The repricing date is the first day of the next floating cycle, that is, the starting date is the corresponding day of the repricing month, if there is no corresponding day of the current month, it is the last day of the current month. The interest rate of each withdrawal loan shall be specified in the Withdrawal Notice according to the loan terms set forth in the Withdrawal Notice submitted by the Borrower.