Interest Settlement Method. The interest shall be paid on monthly basis, the 20th day of each month is the expiry date for interest and the 21st day of each month is the interest payment date. In case the last payment date for the principal is not on the interest settlement date, the principal payment date shall be the interest settlement date. The borrower shall pay off all the interest on that day.
Appears in 2 contracts
Sources: Loan Contract for Working Capital (Hubei Minkang Pharmaceutical Ltd.), Loan Agreement (Hubei Minkang Pharmaceutical Ltd.)