Common use of Interest Settlement Clause in Contracts

Interest Settlement. The borrower shall settle the interest in the following way (1): (1) The quarterly settlement: the 20th of the end of each quarter as the settlement date, and the 21st is the payment date. (2) The monthly settlement: the 20th day of each month is the settlement date, and 21th is the payment date. If the last payment date of the loan principal is not on the payment date, the last payment date of the loan principal shall be the payment date, and the borrower shall pay all the interest payable. If the financial subsidy department of the guaranteed loans for entrepreneurship refuses to accept the application for financial subsidy for guaranteed loans for entrepreneurship submitted by the Borrower or the Lender entrusted by the Borrower, or the financial subsidy department of the guaranteed loans for entrepreneurship refuses to subsidize the interest rate, or the financial subsidy department of the guaranteed loans for entrepreneurship withdraws or stops to carry out the policy of subsidizing the interest rate, or the laws, regulations and supervisory provisions of the State and/or Beijing Municipality related to the financial subsidy for guaranteed loans for entrepreneurship In the event that the Lender is unable to obtain the financial interest subsidy funds for guaranteed loans for entrepreneurship as a result of changes in the laws, regulations and supervision regulations, the Borrower shall bear the interest on the loan at the total interest rate of the Business and transfer the interest owed to the repayment account designated by the Lender before the next interest payment date.