Common use of Procedure for changing the Standard Interest Rate Clause in Contracts

Procedure for changing the Standard Interest Rate. 5.4.4.1.1. The Bank has right to unilaterally change the Standard Interest Rate (including, but not limited to, the suspension of interest accrual on the Balance), provided that the Bank warns the Client about such changes not less than 7 (seven) calendar days before the date of a new Standard Interest Rate are applied, indicating when the new Standard Interest Rate takes effect. Moreover, the Parties have agreed that the Bank is deemed to have properly warned the Client about changing the Standard Interest Rate if he has informed the Client by posting information on the Bank's Official Website. 5.4.4.1.2. In the event that the Client does not agree with the new Standard Interest Rate, which has changed according to clause 5.4.4.1.1. of this Agreement, the Client is obliged to provide the Bank with an Application for disclaimer of interest accrual on the Balance before the effective date of the new Standard Interest Rate. In this case, the Bank shall terminate the provision of the Banking Services for the relevant Current Account from the date the new Standard Interest Rate takes effect. 5.4.4.1.3. If the Bank receives from the Client an Application for disclaimer of interest accrual on the Balance as provided for in clause 5.4.4.1.2. of this Agreement, interest on the relevant Current Account Balance, taking into account the Value Date, is accrued until the date when new Standard Interest Rate takes effect (not inclusively). Starting from the new Standard Interest Rate effective date, interest on respective Current Account Balance, taking into account the Value Date, is not charged unless otherwise provided by other agreements between the Bank and the Client. The interest accrued in accordance with this subclause is paid by the Bank in accordance with the procedure stipulated in clause 5.4.3. herewith. 5.4.4.1.4. If the Client does not provide the Bank with an Application for disclaimer of interest accrual on the Balance as stipulated in clause 5.4.4.1.2. herewith, it is considered that the Customer has agreed with the new Standard Interest Rate (which was changed in accordance with clause 5.4.4.1.1 of this Agreement), and interest on the Current Account Balance shall be accrued and paid by the Bank based on such new Standard Interest Rate from the date of its entry into force. 5.4.4.2.

Procedure for changing the Standard Interest Rate. 5.4.4.1.1. The Bank has right to unilaterally change the Standard Interest Rate (including, but not limited to, the suspension of interest accrual on the Balance), provided that the Bank warns the Client about such changes not less than 7 (seven) calendar days before the date of a new Standard Interest Rate are applied, indicating when the new Standard Interest Rate takes effect. Moreover, the Parties have agreed that the Bank is deemed to have properly warned the Client about changing the Standard Interest Rate if he has informed the Client by posting information on the Bank's Official Website. 5.4.4.1.2. In the event that the Client does not agree with the new Standard Interest Rate, which has changed according to clause 5.4.4.1.1. of this Agreement, the Client is obliged to provide the Bank with an Application for disclaimer of interest accrual on the Balance before the effective date of the new Standard Interest Rate. In this case, the Bank shall terminate the provision of the Banking Services for the relevant Current Account from the date the new Standard Interest Rate takes effect. 5.4.4.1.3. If the Bank receives from the Client an Application for disclaimer of interest accrual on the Balance as provided for in clause 5.4.4.1.2. of this Agreement, interest on the relevant Current Account Balance, taking into account the Value Date, is accrued until the date when new Standard Interest Rate takes effect (not inclusively). Starting from the new Standard Interest Rate effective date, interest on respective Current Account Balance, taking into account the Value Date, is not charged unless otherwise provided by other agreements between the Bank and the Client. The interest accrued in accordance with this subclause is paid by the Bank in accordance with the procedure stipulated in clause 5.4.3. herewith. 5.4.4.1.4. If the Client does not provide the Bank with an Application for disclaimer of interest accrual on the Balance as stipulated in clause 5.4.4.1.2. herewith, it is considered that the Customer has agreed with the new Standard Interest Rate (which was changed in accordance with clause 5.4.4.1.1 of this Agreement), and interest on the Current Account Balance shall be accrued and paid by the Bank based on such new Standard Interest Rate from the date of its entry into force. 5.4.4.2.Account