Nominal Rate Sample Clauses
The Nominal Rate clause defines the stated interest rate on a financial instrument or loan, not accounting for compounding within a specific period. In practice, this clause clarifies the percentage rate that will be used to calculate interest payments, regardless of how often interest is actually compounded or paid. Its core function is to provide a clear reference point for interest calculations, helping to avoid confusion or disputes over the actual cost of borrowing or the return on investment.
Nominal Rate. The nominal rate method of interest calculation shall apply to the calculation and payment of interest under this agreement and the Credit Union shall not be deemed to reinvest any interest from time to time received hereunder.
Nominal Rate. The theory of deemed reinvestment shall not apply to the calculation of interest or payment of fees or other amounts hereunder, notwithstanding anything contained in this Agreement, acceptance or other evidence of indebtedness or in any other Loan Document now or hereafter taken by any Agent or any Lender for the obligations of Borrower under this Agreement, or any other instrument referred to herein, and all interest and fees payable by Borrower to the Lenders, shall accrue from day to day, computed as described herein in accordance with the "nominal rate" method of interest calculation.
Nominal Rate. The theory of deemed reinvestment shall not apply to the calculation of interest or payment of fees or other amounts hereunder, notwithstanding anything contained in this Agreement, in any Note, acceptance or other evidence of indebtedness or in any other Canadian Loan Document now or hereafter taken by any Agent or any Canadian Lender for the obligations of the Company under this Agreement, or any other instrument referred to herein, and all interest and fees payable by the Company to the Canadian Lenders, shall accrue from day to day, computed as described herein in accordance with the "nominal rate" method of interest calculation.