INTEREST AND OTHER CHARGES. 23 3.1 Interest........................................................ 23 3.2 Conversion and Continuation Elections........................... 24 3.3 Maximum Interest Rate........................................... 25 3.4 Closing Fee..................................................... 26 3.5 Loan Administration and Collateral Management Fee............... 27 3.6
INTEREST AND OTHER CHARGES. The Loans shall bear interest on the average daily net balance thereof, calculated monthly, at a fluctuating rate of interest equal to the Prime Rate. Changes in the rate of interest shall be effected monthly to reflect changes in the Prime Rate, as follows: The rate shall be adjusted on the first day of each month based on the Prime Rate in effect at the close of business on the last Banking Day of the preceding calendar month. Interest shall be due and payable monthly, on the first day of each month, for the preceding month. The final payment of all accrued and unpaid interest shall be due and payable on the date that the outstanding principal amount of the Loans is paid or due and payable in full. After an Event of Default, interest shall also be due and payable upon the Lender's demand from time to time. The Lender shall inform the Borrower of the amount of interest due and payable as of each payment date set forth in the preceding paragraph, and the Borrower shall pay the interest when due or the Lender may, in its discretion, charge such amount to the Borrower's account under this Agreement. As additional consideration for the credit facility established in Section 2.1, the Borrower agrees to pay to the Lender a fee, payable on the first day of each month for the preceding month, equal to the average unused principal portion of the maximum loan facility hereunder (I.E., $5,000,000 minus the average daily principal amount of Loans outstanding) times 0.125% per annum. For interest computation purposes, Borrower's account will be credited for each remittance received on the day that the underlying funds are collected; the day of receipt of funds shall be deemed to be the following Banking Day if the receipt is after the Lender's cutoff time for receipt of funds or if such day is not a Banking Day. If the outstanding principal amount of the Loans becomes due and payable or if any payment of principal or interest is not timely made, or (at the Lender's option) if any Event of Default exists, interest shall accrue on the unpaid principal balance of the Loans or on such defaulted principal payment, from the date that the Loans became so due and payable or that the defaulted payment was not timely made, at a rate of 4% per annum above the Prime Rate. Changes in the rate shall be effected monthly to reflect changes in the Prime Rate as follows: The rate shall be adjusted on the first day of each month based on the Prime Rate in effect at the close of business...
INTEREST AND OTHER CHARGES. All interest or other fees or charges which have been imposed, accrued or collected by Bank (including all of its predecessors) under the Loan Documents or in connection with the Loan through the date of this Agreement, and the method of computing the same, were and are proper and agreed to by Borrower and Guarantor and were properly computed and collected.
INTEREST AND OTHER CHARGES. 8.1 The interest rate is a variable interest rate, in fixed relationship to the Repo Rate, which means that the amount of the total interest as well as the amount of the instalments as specified in the Pre-Agreement Statement and Quotation may change if the Repo Rate changes.
INTEREST AND OTHER CHARGES. The annual percentage rate of charge (APRC) is the total cost of the loan expressed as an annual percentage. The APRC is provided to help you to compare different offers. The APRC applicable to your loan is [APRC]. The following are included: Interest rate [value in percentage or, where applicable, indication of a reference rate and percentage value of creditor’s spread] [Other components of the APRC] One-off costs (Where applicable) You will need to pay a fee to register the mortgage. [Insert amount of fee where known or basis for calculation.] Recurring costs (Where applicable) This APRC is calculated using assumptions regarding the interest rate. (Where applicable) Because [part of] your loan is a variable interest rate loan, the actual APRC could be different from this APRC if the interest rate for your loan changes. For example, if the interest rate rose to [scenario as described in Part B], the APRC could increase to [insert illustrative APRC corresponding to the scenario]. Where applicable) Please note that this APRC is calculated on the basis that the interest rate remains at the level fixed for the initial period throughout the duration of the contract. (Where applicable) The following costs are not known to the lender and are therefore not included in the APRC: [Costs] (Where applicable) You will need to pay a fee to register the mortgage. Please make sure that you are aware of all other taxes and costs associated with your loan.
INTEREST AND OTHER CHARGES. (a) The Trust shall pay Bank interest, in arrears, on the principal amount of each Loan from the date on which such Loan is made pursuant to Section 2 above until such Loan is due under this Agreement, at a rate per annum during each Interest Period equal to 30-day LIBOR on the Interest Commencement Date of such Interest Period plus one percent (100 basis points).
INTEREST AND OTHER CHARGES. 9.1 The Customer is responsible for the payment of all applicable interest charges and Fees for the utilization of the Working Capital Wallet Facility.
INTEREST AND OTHER CHARGES. We shall pay you interest on the daily outstanding balance of the Note(s) at the rates as set forth in the applicable Rider. In addition, we shall also pay you on the first day of each month, with respect to the prior calendar month or portion thereof 1/12 of two percent (2.0%) of the average amount of the Maximum Loan Amount not utilized during the prior month. In no event whatsoever shall the interest rate and other charges charged hereunder exceed the highest rate permissible under any law which a court of competent jurisdiction shall, in the final determination, deem applicable hereto. In the event that a court determines that you have received interest or other charges hereunder in excess of the highest rate applicable hereto, you shall promptly, in your sole discretion, either apply such amount to the Obligations or refund such amount to us and the provisions herein shall be deemed amended to provide for such permissible rate.
INTEREST AND OTHER CHARGES. 17 3.1 Interest.......................................................................................17 3.2 Maximum Interest Rate..........................................................................17 3.3
INTEREST AND OTHER CHARGES. All interest or other fees or charges which have been imposed, accrued or collected by Agent (including all of its predecessors) under the Loan Documents or in connection with the Loan through the date of this Agreement, and the method of computing the same, were and are proper and agreed to by each Borrower Party, and were properly computed and collected.
