Interest Term. If the interest rate defined above will be compounded “Annually,” or once a year, then the first checkbox presented by the “Bear Interest” statement must be selected. However, if the interest rate will be compounded once a month (“Monthly”) then the second checkbox should be selected. If neither of these options applies, then select the “Other” checkbox and define how often the concerned interest rate will be applied to the unpaid amount. (9) Not Bear Interest. Select the “Not Bear Interest” checkbox from the Third Section if the Lender does not intend to collect any additional money in the form of naturally compounded interest on this loan.
Appears in 2 contracts
Samples: Friendly Loan Agreement, Sample Loan Agreement
Interest Term. If the interest rate defined above will be compounded “Annually,” or once a year, then the first checkbox presented by the “Bear Interest” statement must be selected. However, if the interest rate will be compounded once a month (“Monthly”) then the second checkbox should be selected. If neither of these options applies, then select the “Other” checkbox and define how often the concerned interest rate will be applied to the unpaid amount. (9) Not Bear Interest. Select the “Not Bear Interest” checkbox from the Third Section if the Lender does not intend to collect any additional money in the form of naturally compounded interest on this loan. IV.
Appears in 2 contracts
Samples: Cash Loan Agreement, static1.squarespace.com