Individual Interest definition
Examples of Individual Interest in a sentence
In case the Bank sends in writing format the Notice about the change of Individual Interest Rate, the Client is considered to be notified (warned) on the change in the Individual Interest Rate on the day when Bank sent the relevant Notice to the Client, specified in the corresponding Application on the conditions of interest accrual on the Balance.
Moreover, the Parties have agreed that the Notice about change of the Individual Interest Rate shall be deemed duly rendered to the Client, if it is sent by the Bank to the Client in writing or by means of the Client-Bank System, or with the help of other means agreed upon by the Parties.
In the event of an increase in the Individual Interest Rate, the Bank may send the Client a Notice of Change in the Individual Interest Rate directly on the date of entry into force of the new (increased) Individual Interest Rate or, at the discretion of the Bank, earlier than the date of entry into force of the new (increased) Individual Interest Rate.
The Individual Interest Rate can be changed by us at any time at our sole discretion.
In order to avoid doubt, the Bank has the right to change the Individual Interest Rate specified in any Notice about Change of Individual Interest Rate (including, but not limited to, terminate interest accrual on Balance), in the manner prescribed by clauses 5.4.4.2.1.- 5.4.4.2.4. herewith.
The conclusion of the Application for Banking Services by the Parties shall constitute a written consent of the Parties to use facsimile reproduction of analogues of handwritten signatures of the Bank's authorised persons and the Bank's seal by means of electronic copying, samples of which are provided in Annex No. 7 hereto, when signing the Notice of Change of the Individual Interest Rate on behalf of the Bank.
In case of decrease of Individual Interest Rate (including, but not limited to, the suspension of interest accrual on the Balance), the Bank sends to the Client the Notice about change of Individual Interest Rate at least 1 (one) Banking Day before new (decreased) Individual Interest Rate takes effect or before suspension of accrual by the Bank of interest on the Balance.
In case of increase of Individual Interest Rate the Bank may send the Notice about change of Individual Interest Rate on the date when new (increased) Individual Interest Rate takes effect or, upon the Bank’s sole descreation, before the date when new (increased) Individual Interest Rate takes effect.
In such a case, the Bank shall cease to provide the Banking Service for the relevant Current Account from the date of entry into force of the new Individual Interest Rate specified in the relevant Notice on the change of the Individual Interest Rate.
Such Individual Interest Rate validity extension specified in the respective Application for conditions of interest accrual on the Balance or the corresponding Notice about Change of Individual Interest Rate does not require Parties to conclude any separate applications, contracts or any other documents.