Demand Loan. A Demand Loan is a loan with a maximum term of one (1) year and a variable rate (“Demand Loan Rate”). The maximum Demand Loan Rate fluctuation is announced from time to time by ▇▇▇▇▇▇ and applies to each Demand Loan and corresponding advances. With each change in such fluctuating interest rate, the applicable Demand Loan Rate will correspondingly change without notice to Member. Any change in the Demand Loan Rate shall be effective as of the opening of business on the day on which such change in the Demand Loan Rate becomes effective.
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Sources: Advised Line of Credit/Loans Product Operating Agreement, Advised Line of Credit/Loans Product Operating Agreement
Demand Loan. A Demand Loan is a loan with a maximum term of one (1) year and a variable rate (“Demand Loan Rate”). The maximum Demand Loan Rate fluctuation is announced from time to time by ▇▇▇▇▇▇ Alloya and applies to each Demand Loan and corresponding advances. With each change in such fluctuating interest rate, the applicable Demand Loan Rate will correspondingly change without notice to Member. Any change in the Demand Loan Rate shall be effective as of the opening of business on the day on which such change in the Demand Loan Rate becomes effective.
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