COMPUTING INTEREST Clause Samples

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COMPUTING INTEREST. Interest will be calculated on the basis of a year of 360 days for the actual number of days elapsed in each interest period and will be payable in arrears.
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COMPUTING INTEREST. The interest rate charged on the unpaid balance of a Defense Loan, NDSL, or ▇▇▇▇▇▇▇ Loan depends on when the loan was made. The interest rate is stated in the borrower’s promissory note. The annual interest rate for loans made ◇ before July 1, 1981 was 3%; ◇ between July 1, 1981 and September 30, 1981 was 4%; ◇ on or after October 1, 1981 is 5%. Interest on loans made on or after October 1, 1981 is computed at the rate of 5% per annum simple interest on the unpaid principal balance. Interest should be computed from the date when the payment is received rather than from the due date; however, interest charges may be computed to the nearest first-of-the-month, or they may be computed in accordance with the borrower’s established schedule of payments of principal and interest if the borrower is making payments on a regular basis according to that schedule.
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Related to COMPUTING INTEREST

  • Calculating Interest Assume that you have a single interest rate of 15.99%, your ADB is $2,250 and there are 30 days in the billing period.

  • Compensating Interest The Servicer shall remit to the Trustee on each Remittance Date an amount from its own funds equal to the Compensating Interest payable by the Servicer for the related Distribution Date.

  • Participation in Profits and Losses All profits and losses of the Company will be allocated to the Member.

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

  • Allocation of Excess Nonrecourse Liabilities For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.