Interest Settlement. The interest on the loan under this Agreement shall be settled on a Quarterly (Monthly/Quarterly) basis. The expiry date for interest shall be the 20th day of the last month of every quarter. The Borrower must pay the interest on the expiry date. If the last repayment date of the principal of the loan is not on the same day as the expiry date for interest, the outstanding interest shall be paid up with the principal (daily interest rate = monthly interest rate / 30).
Appears in 5 contracts
Samples: Loan Agreement (Asian Financial Inc), Loan Agreement (Asian Financial Inc), Loan Agreement (Asian Financial Inc)