EXTRA INTEREST definition
EXTRA INTEREST. With respect to each SBA Loan, for each Remittance Date the product of (i) the principal portion of the Unguaranteed Interest of such SBA Loan for such Remittance Date and (ii) one-twelfth of the applicable Extra Interest Percentage.
EXTRA INTEREST means interest levied by RCFL on the happening of any Event of Default as set out in Article7 of this Agreement.
EXTRA INTEREST. With respect to each Business Loan, for each Remittance Date the product of (i) the Principal Balance of such Business Loan for such Remittance Date and (ii) one-twelfth of the applicable Extra Interest Percentage.
Examples of EXTRA INTEREST in a sentence
THE TIMING DIFFERENCES BETWEEN THE DATE OF DEPOSIT AND DATE OF RECOGNITION OF THE DEPOSIT IN THE WCMA ACCOUNT WILL THEREFORE RESULT IN EXTRA INTEREST CHARGES TO CUSTOMER, WHICH CUSTOMER ACKNOWLEDGES ARE AN ADDITIONAL COST OF THE LOAN AND HEREBY UNCONDITIONALLY AGREES TO PAY.