Term Fixed Rate Lending Sample Clauses
The 'Term Fixed Rate Lending' clause establishes that a loan will be provided for a specified period at a predetermined, unchanging interest rate. This means that throughout the agreed loan term, the borrower will make payments based on the fixed rate, regardless of fluctuations in market interest rates. By locking in the rate for the duration of the loan, this clause provides predictability for both lender and borrower, protecting them from interest rate volatility and ensuring stable repayment terms.
Term Fixed Rate Lending. As at 15th October 2019, provisions specifically referable to Term Fixed Rate Lending under this Facility are as follows: Product Facility Limit The aggregate sum of all Term Fixed Rate Advances the Corporation has agreed to provide to the Borrower from time to time less any amount that has been repaid or cancelled. Unless otherwise agreed with the Corporation in relation to a specific Advance, the following provisions apply to each Advance of Term Fixed Rate Lending (Term Fixed Rate Advance): Minimum amount of Advance $50,000 Minimum Term of Each Advance: 6 months Maximum Term of Each Advance: 20 years or such longer period as may be agreed between the Parties either generally or in relation to an Advance with specified characteristics or in relation to a proposed Advance.
Term Fixed Rate Lending. SECOND SCHEDULE
1. All Loans under the Existing Loan Agreements are classified as Term Fixed Rate Lending and are covered by the Provisions of Annexure 2 Term Fixed Rate Lending.
2. All Loans under the Existing Debentures are classified as Term Fixed Rate Lending and are covered by the provisions of Annexure 2 Term Fixed Rate Lending. As at 15th October 2019, provisions specifically referable to Short Term Lending under this Agreement are as follows: Product Facility Limit The aggregate sum of all Short Term Lending Advances the Corporation has agreed to provide to the Borrower from time to time under each Addendum less any amount that has been cancelled or terminated from time to time. Unless otherwise agreed with the Corporation in relation to a specific Advance, the following provisions apply to each Advance of Short Term Lending (Short Term Lending Advance):
i) The Borrower may apply to the Corporation to borrow funds under this Annexure in accordance with the terms and conditions of the Agreement; and ii) upon the Corporation agreeing to lend such funds to the Borrower, the parties shall execute an Addendum to the Agreement substantially in the form specified in the Fifth Schedule hereto which shall stipulate the project facility limit being the maximum amount the Borrower is entitled to borrow under that Addendum. Notice Period: The Drawdown Notice must be received by the Corporation no later than 12:00 noon on the Business Day (Including via the Client Portal, a digital platform or such other electronic media as nominated by the Corporation) prior to the date the Advance is to be made. Minimum amount of Advance $10,000 Minimum Term of Each Advance: 1 day Maximum Term of Each Advance: 12 months Maturity Date: The nominated Maturity Date should be a Business Day Repayment of Principal of Each Advance: In full on the Maturity Date of that Advance Interest Rate: The Interest Rate is determined by the Corporation and is fixed until the Maturity Date of the Advance Date of Determination of Interest Rate: The Interest Rate will be determined on the day the Advance is made, or on such other day or days as the Corporation may from time to time reasonably determine. Interest Amount: Interest on each Advance will be calculated as follows: I = P x R x D 36500 where: I = amount of interest payable; P = principal amount of the Advance; R = Interest Rate applicable to the Advance expressed as a percentage per annum to two decimal places; and D = the number of cale...
Term Fixed Rate Lending. SECOND SCHEDULE
1. All loans under the Existing Loan Agreements are classified as Term Fixed Rate Lending and are covered by the Provisions of Annexure 2 Term Fixed Rate Lending.
2. All Loans under the Existing Debentures are classified as Term Fixed Rate Lending and are covered by the provisions of Annexure 2 Term Fixed Rate Lending.
Term Fixed Rate Lending. SECOND SCHEDULE
1. All Advances under Existing Facility for Short Term Loans are classified as Short Term Lending and are covered by the provisions of Annexure 1 Short Term Lending.