Interest Settlements Clause Samples
Interest Settlements a. The interest payment shall be settled based on agreed interest rate if fixed interest rate is implemented; the interest payment shall be settled based on floating rate of that certain period if floating rate is implemented; If there are multiple floating rates during one single period of settlement, it shall first calculate each floating rate and then sum up the floating rates to finally calculate the interest settlement rate in that certain period of time.
b. The interest of loan in this agreement is settled in the following one manner:
(1) The settlement date is 20th of each month if the interest is calculated on monthly basis;
(2) The settlement date is 20th of each quarter if the interest is calculated on quarterly basis;
(3) Other means blank .
Interest Settlements. (1) For loans with fixed interest rates, interest shall be settled according to the contracted rate. For loans with a floating interest rate, interest shall be settled according to the updated rate for each floating period; in case there are more than one rates floating at the same time in a single settlement period, the interest of this settlement period shall be the total of the interest for each floating period.
(2) The interest shall be settled by quarter__, and the settlement day shall be the 20th day of the last month for each quarter.